Glen Eagle Resources Inc. takes immense pleasure in announcing that Cobra Oro de Honduras and Compania Minera Moloncosa S.A have recently signed a supply agreement.
Through its new collaboration, Minera Moloncosa has assured to supply high-grade ore obtained from its private underground mine to Cobra Oro. The mine has been operational for over three decades and presently employs 160 direct workers. The event was publicly broadcast on Choluvision, the chief TV channel in Southern Honduras based on the significance and effect of the alliance on the small mining community in Southern Honduras.
The Company expects that the collaboration will persuade other small miners to bring their ore to Cobra Oro’s gold processing plant in order to find improved efficiency and profitability.
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