Karl was instrumental in bringing a full time Canadian mechanic and part time metallurgist to address technical problems at the plant. As a result, Cobra Oro has witnessed over the last six weeks an important turn around in reliability with no mechanical failures as the company was slowly restarting its operations and reviewing its production procedures and preventive plan. Early indicators are showing that gold and silver recovery are also improving substantially.
Karl was instrumental in bringing long term investors in the latest private placement which was closed on September 13, 2021. Among the participants were two international providers of services to the mining industry taking 30% of the allotment in each of the last two financing rounds.
Jean Labrecque, President of Glen Eagle noted “Our management team is dedicated more than ever to make our operations profitable in Honduras and eventually be independent of outside ore suppliers by accessing our own mining concession La Cobra, one of the richest in Honduras.”
The Company is currently improving a back mountain road in concert with the local community to gain access to an ore body which has allowed Cobra Oro to receive good grade ore over the last few weeks while exposing in the process excellent drilling targets. A potential Joint Venture with the land owner is currently being discussed.
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Glen Eagle Resources Inc
2075 Victoria Street. Suite 201