Glen Eagle Resources Inc V.GER

!!!!!!!!!

[decision]

Honduras to cancel environmental permits for mining, ban open pits - MINING.COM

[Scanner454]

does not mention whether they are cancelling existing ones but would not be surprised if also applies to existing......if so and true fair value might be a penny

[ggrellette]

If this is true and those with existing mining plays that are already there do not get an exemption from this recent change of gov't decision then this is a SCREAMING SELL.The pumpers here better call JEAN immediately to get the scoup.

[rsingh37]

I just spoke with Jean. He mentioned that it is not affecting the existing mining companies. It is for the new bids or something... I have asked him to do a news release on this matter and he should be doing it tomorrow (most probably)..will see

[Scanner454]

i would think that he would /should get out in front of this story as quickly as possible as you can see what is happening to the sp and the price of gold over 1900 bucks.... price/chance one takes in venturing to some questionable countries...currently bid/ask 5 pennies....just terrible

[lapiastre]

having an exemption from honduras government about this law for ger would be great. Anyway, i'll hold through this storm as i almost consider my investment to be a complete lost.

[Scanner454]

might see 3 pennies today......that 7 pennies pp does not look to good right now...current bid.045 cents

[ggrellette]

Reading between the lines means they will not be permitted to build a mine so exploration drilling would be useless to them. They will only be a milling operation so now the operation cost will now be front and center because those costs will impact the balance sheet tremendously. I wonder if E.S. or Denis L. will bail now. One must think about these scenarioes from a DD point of view.

[lapiastre]

they were years away from a open pit operation anyway. I think that being in good terms with local small miners coop and securing ore to feed cycladex circuit will still prove to be a decent investment down the road. Focusing on plant operation would limit spending on mid to long term. After all, it not might be as devastating as it seems. Imo, gold corp and co. are the ones that will suffer the

[Scanner454]

not a peep from mgt. how this affects glen eagle....no news is bad news?...five pennies in bid/ask

[lapiastre]

if there was any material change they would have reported imo.

[lapiastre]

buy the fear....

[ggrellette]

Lapiastre do not be so naive to think that. If JEAN told you that well he is misleading you again. This news is horrendous for this company and I am totally and not totally surprise that JEAN has not come out with a statement to inform or at least re-assure their shareholders.

[lapiastre]

horrendous is what ger execution is all about since central america's adventure started. Starting with the mess in nacaragua. I think that generating enough cashflow at choluteca ( even if the entire plan is sold) to pay for phosphate mining in quebec. Come see papa in a friendly mining region... It is no secret that we are just in time for gold production related to its price, and no secret

[Scanner454]

anyone know another miner honduras and their symbol?..what is being said on their boards?

[decision]

aura   ora

[Scanner454]

thats correct...Aura Minerals trades on the tsx under the symbol T.ora....on march1 they put out a press release addressing the honduran govt. declaration....as of today they are still mining as iis glen eagle

[lapiastre]

buy the fear.