Glen Eagle Resources (TSX-V:GER, StockForum), a Montreal-based company engaged in the acquisition, exploration and evaluation of mining properties, announced today that Glen Eagle's wholly owned subsidiary, Sand Gold SA, had signed a gold sales agreement with Diverse Equities.
Diverse, in the business of buying and selling gold since 1993, has agreed to make advanced payment two days prior to Sand Gold's delivery at Managua Airport in Nicaragua. Glen Eagle hopes this process will enable Sand Gold to utilize its working capital more efficiently.
The news release then added, “Glen Eagle has named Richard Laprairie as Operation Manager in Nicaragua based on its past experience on similar projects. He is currently in Nicaragua to overview the implementation of the infrastructure.”
It detailed further, “Richard is a Professional Mining/Civil Engineer with over 38 years of international industry experience that includes Project Management for both underground and surface mines, mineral exploration and evaluation of exploration results, civil engineering, mine development, mill construction and startup.”
Glen Eagle was in the news recently when the company's subsidiary received the Land Permit for the Sand Gold Project.
Shares rose 14.29% on the news to $0.20 per share.
Currently there are 46,624,711 outstanding shares with a market cap of $9.32 million.