Glen Eagle Resources Fact sheet + Presentation
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This document provides information on Glen Eagle Resources' mission, capital structure, ownership, gold processing plant in Honduras, mining concessions in Honduras, and board of directors and management. Specifically: - Glen Eagle's mission is to maximize shareholder value as a profitable gold producer and explore additional mineral resources. - As of May 2020, there were 82.8 million common shares outstanding and management and insiders control 38% of ownership. - The company operates a gold processing plant in Honduras capable of processing 150-250 tons of ore per day with an average grade of 5 g/t, generating estimated monthly net cash flows. - The company holds two mining concessions in Honduras near the gold
Glen Eagle Resources Fact sheet + Presentation
- 1. Our Mission To maximize shareholder’s value by being an increasingly profitable gold producer in quest to prove up sufficient min- eral resources to support a PEA study on the company’s next exploration project. Capital Structure As of May 1, 2020 82,868,108 Common shares outstanding 6,455,000 Options None Warrants 89,323,108 Fully diluted Ownership Management and Insiders 38% Free float 44% Institutional 13% Partners 5% • 7 insiders control 50% of the float with 83M shares outstanding • 13.5% of shares owned by Eric Sprott Disclaimer Information set forth in this presentation may contain forward-looking statements. Forward-looking state- ments are statements that relate to future, not past, events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “in- tend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other sim- ilar expressions. By their nature, forward-looking state- ments involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the risks associated with outstanding litigation, if any; risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in gold and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to U.S. Shareholders. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update for- ward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Inves- tors are cautioned against attributing undue certainty to forward-looking statements. TSXV Exchange: GER
- 2. Complexe du Canal Lachine 4710 St-Ambroise Street, Suite 308 Montréal, Quebec, Canada H4C 2C7 Jean Labrecque, President, CEO 514-808-9807 Gold processing plant in honduras • Cobra Oro de Honduras has been a gold producer for the last 3 years; • Has reached commercial production in April 2017; • An important plant expansion was completed in February 2018. Glen Eagle is proud of being in Honduras, a country known for having vast untapped resources. Cobra Oro’s gold processing plant is located in Choluteca, one of the fastest growth area in Honduras, known for its work force and safe environment. The plant operates in international zone “free taxe” operational permit for the next 12 years. Adjacent to the Chamber of Commerce building, Pepsi’s bottling plant and the Pan American Highway. Honduras is also known for its “El Mochito” mine which has been in non-stop operation for the last 50 years until to- day. Two more mines in different parts of the country have also been in operation for the last 15 years. No mining concessions have ever been confiscated in the country’s entire history. The new mining law, effective in 2016, was another step taken by the Government of Honduras to further protect mining investments in the country. Choluteca Glen Eagle Resources Gold processing plant Mako Mining Corp. Concession 1 and 2 Calibre Mining Corp.
- 3. Complexe du Canal Lachine 4710 St-Ambroise Street, Suite 308 Montréal, Quebec, Canada H4C 2C7 Jean Labrecque, President, CEO 514-808-9807 Concession #1 - Piedra Dorada • 100% interest in the Piedra Dorada mining con- cession of 10 square kilometers land • Located in heart of the most prolific gold bear- ing region of Southern Honduras • Located in a friendly district of 25 km corri- dor containing high elevated gold value • Rock samples taken at random aver- aged 4 grams gold per ton • Next exploration phase to delineate large intru- sion targets and sample several known veins • The concession is easily accessi- ble all year long by the main road Concession #2 – Moloncosa • 50% participating interest in the Moloncosa min- ing concession of 7 square kilometers land • Located immediately adjacent to the newly ac- quired and 100% owned Piedra Dorada • Conditionnal to spending C$500,000 in drill- ing expenditures to acquire the property • Surface outcrop assayed at Cobra laborato- ry with results returning 3 grams per ton • Main ore supplier finds super enrichment zone on a property adjacent to Moloncosa • Several large showings identified on the con- cession - area of prime target for drilling. • The concession is easily accessi- ble all year long by the main road
- 4. Honduras Complexe du Canal Lachine 4710 St-Ambroise Street, Suite 308 Montréal, Quebec, Canada H4C 2C7 Jean Labrecque, President, CEO 514-808-9807 Cobra Oro’s Gold processing plant in Choluteca Compania Minera Moloncosa S.A. 26 km from the gold processing plant Piedra Dorada Mining 29 km from the gold processing plant Inception Mining 19 km from the gold processing plant
- 5. Complexe du Canal Lachine 4710 St-Ambroise Street, Suite 308 Montréal, Quebec, Canada H4C 2C7 Jean Labrecque, President, CEO 514-808-9807 Ore processed per month 150 tons/daily 3 750 3 750 3 750 3 750 3 750 3 750 3 300 3 600 3 600 3 600 3 600 3 595 Total 43 795 0 10000 20000 30000 40000 50000 September August July June May April March February January December November October Ore processed per month 250 tons/daily 6 250 6 250 6 250 6 250 6 250 6 250 5 500 6 000 6 000 6 000 6 000 5 995 Total 72 995 0 10000 20000 30000 40000 50000 September August July June May April March February January December November October Average gold grade of 5 g/t 150 tons/daily NET Cash flow before conversion Capital expenses General & administration Operating Costs Sales cost to vendor 3,920,141$ US (337,600) (163,072) (4,485,373) (151,389) Average gold grade of 5 g/t 250 tons/daily NET Cash flow before conversion Capital expenses General & administration Operating Costs Sales cost to vendor 7,411,881$ US (337,600) (163,072) (6,971,773) (212,322)
- 6. Complexe du Canal Lachine 4710 St-Ambroise Street, Suite 308 Montréal, Quebec, Canada H4C 2C7 Jean Labrecque, President, CEO 514-808-9807 Board of Directors and Management Jean Labrecque President, CEO MBA, HEC Lausanne, Switzerland Was introduced to mining at a very early age while growing up in the mining town of Asbestos, Quebec. The Jeffrey Mine, was one of the largest open pit mine in the world with approx- imately 3000 employees at its peak in the early 70’s. Mr. Labrecque worked at the mine for 7 years as a summer student in the following departments: quality control, produc- tion, underground and open pit mining as a labourer. Co-Founder of Pershimco Resources 2003-2006 (TSX-V). Relisted Glen Eagle Resources from the NEXT Exchange to TSX-V in 2005. Daniel Bélisle CFO, Chief Financial Officer CPA/CA Mr Bélisle has more than 20 years of experience in executive positions specialised in auditing and financial management in the mining and manufacturing sectors. He is currently on the Board of Directors and acts as consultant for other mining companies as President of BF Growth Capital. Mr. Bélisle also acted as manufacturing divisional comptroller for UAP and Principal auditor at Canadair (Bombardier). He holds the degree of Chartered Professional Accountant. Guy Chamard Director Mr. Guy Chamard is a civil engineer with over 30 years of experience in mining project development and others. He worked for Cambior Inc. as Project Director (1994 to 2000) and was Director of the Mining Department (Montréal) for Génivar and WSP Canada from 2007 to 2014. Mr. Chamard contributed to the realization of the projects Orleans (Wol- lastonite), Essakane, Burkina Faso (Gold), Canadian Royalties (zinc), Quebec Lithium (Lithium). He is a member of the Board of Directors of Mason Graphite (LLG.TSX) since 2016 and is currently a consultant for the start-up of mining or indus- trial construction projects. He is a member of the Ordre des Ingénieurs du Québec (OIQ). Gilles Laverdière Director Gilles Laverdière is a geologist with more than 40 years of experience with mining exploration companies. For Merrex Gold Inc., he was in charge of developing a gold project in Mali in a joint venture with Iamgold Inc. from 2011 to 2014, he was in charge of the planning and supervision of drilling projects in the North Western Quebec and geological reporting under NI 43-101 from 2006 to 2010 and President and Chief Exec- utive Officer of HMZ Metals Inc. from 1998 to 2006 where he acquired mining assets in China and listed the Company through an stock market on the TSX. From 1985 to 1997, he was a senior executive and board member of many public mining companies where he assessed mining prospects, nego- tiated and structured financing for various mining companies in Canada, the Philippines, Brazil and Nevada. He is a member of the Ordre des Géologues du Québec (OGQ). Charles Taschereau Director Charles Taschereau is a mining engineer with over 25 years experiences in the management and development of mining projects and corporations in over 12 countries. He works as COO for Orbite Technologies since 2016, was CEO for Congo Equipment during 2014-2016, was COO for Qué- bec Lithium during 2010-2013 and VP for Iamgold during 2007-2010. He was involved in all the aspects of the mining cycle: exploration, feasibility studies, financing, construction and operation. M. Taschereau has a Master Degree in Min- ing Engineering (Laval), a MBA (Curtin), a Master Degree in Sustainability (Cambridge) and is a member of the Ordre of Comptables Professionnels Agrées (CPA) and of the Ordre des Ingénieurs du Québec (OIQ).