Glen Eagle is on Schedule With Plant Expansion in Honduras
MONTREAL, QUEBEC--(Marketwired - Feb 28, 2017) - Glen Eagle Resources Inc. (TSX VENTURE: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.
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"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." Values in the news release are quoted in canadian dollars.