Corporate overview

Glen Eagle has 78 million shares outstanding. Approximately 40 million shares are controlled between management and a few key partners.

Its current President, Jean Labrecque was appointed 12 years ago. Fewer than 65 million shares were issued over this period of time while the company was making some key acquisitions in very difficult times for the mining industry.

Highlights under Mr. Labrecque’s tenure:

  • Gold Project in Honduras:
  1. Acquisition of a gold processing plant by purchasing 100% of the issued and outstanding shares of Cobra Oro de Honduras S.A.
  2. The processing plant will be the tool milling facility for several small producers to process their ore including two Registered Small Scale Mining Cooperatives.
  3. The milling facility has a capacity of 40 tons per day with potential for considerable expansion.
  4. Acquisition in May 2017 of La Cobra, one of the most sought after concession in Honduras.
  • Moose Lake Phosphate Project:
  1. The main phosphate-bearing body on Moose Lake was estimated intially to be 1.5 kilometer long by 250 meters wide which was reconfirmed with a greater degree of certainty by the latest drilling campaign (3300 meters) conducted in early 2015.
  • Authier Lithium Project:
  1. Development of the Authier Lithium Project with a 10 year mine life at 2000t/day near Val-d’Or Quebec. The project was certified 43-101 by SGS Canada an sold for $4MM in 2014.

To have succeeded in doing all of the above with less than 65 million shares issued to raise capital is evidence that the corporate strategy behind Glen Eagle has been protective to its shareholders in terms of assets, common shares dilution and spending.