Glen Eagle is on Schedule With Plant Expansion in Honduras

V.GER, Glen Eagle Resources, gold

Glen Eagle Resources, (TSX VENTURE:V.GER) reports that its project to expand Cobra Oro gold processing plant in Honduras is on schedule, allowing the Company to enter commercial production in April. The Company has received more than 30 tonnes of parts and equipment that are currently being installed to improve and increase current throughput.

The passage to commercial production implies that Cobra Oro, a wholly owned subsidiary of Glen Eagle, will no longer capitalize its expenses, enabling the company to release production numbers and an income statement on a quarterly basis. Glen Eagle expects its net margin to be robust based on in-house production results and analysis accumulated over the last twelve months.read more

Leave a Reply

Your email address will not be published. Required fields are marked *