Glen Eagle Resources Inc. (Montreal, Quebec, August 28, 2018; TSX VENTURE: GER) (“Glen Eagle” or the “Company”) is pleased to announce the following highlights for its consolidated operations both in Canada and Honduras.
Gross operating profit of $275,321 and a net comprehensive income of $137,732 for the quarter ended June 30, 2018 on total sales of $818,497.
Gold sales of $818,497 for the quarter compared to $285,610 for Q2, 2017. Gross opereating profit of $275,321 compared to a gross operating loss of $187,494 in Q2, 2107. Net comprehensive income of $137,732 compared to a net comprehensive loss of $624,768 for Q2-2017. Positive EBITDA of $185,539 compared to a negative EBITDA of $581,000 for Q2-2017.
The company is pleased with the progress of its operations in Honduras and expects sales to grow stongly in Q4 as additional plant improvment during Q3 should positively impact sales.
The optimism towards its operations is reflected with continued insider buying of Glen Eagle’s stock over the last two quarters. Insiders, with a handful of shareholders, have accumulated over 55% of all ourtstanding shares of the Company.
The facts reported herein are auditable and detailed in Glen Eagle’s MD&A and Financial Statement.
Jean Labrecque, President
Glen Eagle Resources Inc
Complexe du Canal Lachine, Suite 308
4710 St-Antoine Street
Tel : 514-808-9807
“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.
