A highlight of Galantas Gold's (LON:GAL, CVE:GAL) latest quarter was the receipt of approval for an underground mine at Omagh in Northern Ireland.
After the three months to June 30, the AIM firm also completed a private placing, raising C$2.4mln, or around £1.189mln, with entrepreneur and mining financier Ross Beaty acquiring a near 15% stake.
Roland Phelps, the group's president and chief executive, told investors: "The receipt of the planning permit is very significant for Galantas.
"Our open pit gold mine, operated until recently, is the only one in Ireland. It had excellent environmental standards, monitored with detailed studies by NIEA and used a safe processing methodology to produce a smelter concentrate.
"We recently completed a substantial fund-raising which is being used to push our exploration and mine development plans forward."
In the second quarter, the net loss was C$708,757 compared to a loss of C$296,603 in the same period in 2014.
Galantas Gold shares eased 2.63% to 4.625p.