Galantas Gold Corporation, through its Northern Ireland and UK registered company subsidiaries, are actively engaged in gold mining in the province and has an exclusive licence to gold, silver and base metals over an area of 435 square kilometers in Northern Ireland, to the west of Omagh, County Tyrone plus additional licenses in the Republic Of Ireland.
Mining is permitted by planning consent at the Cavanacaw Mine. Previously using open pit methods, management intends to progress to developing an underground mine to extract deeper ore.
All mining creates some environmental impact, however, management is committed to removing or reducing that impact as completely as possible.
Production
Detailed Description of Operation and Environmental Best Practice
A Galantas Gold Corporation (Galantas) wholly owned subsidiary owns the freehold title to over 220 acres on land upon which the initial open pit mine, processing plant, tailings facility and water clarification ponds are situated. Mining has now moved underground.
Environmental protection is an important operating criteria for the mine. Development, health, safety and environment impact are continually controlled to comply with strict regulations. This ensures that the impact on the environment is minimized, monitored and held below fixed parameters. There is routine monitoring of water, dust, and noise.
Galantas is committed to using environmental best practice. Operating methods are selected for maximum cost effectiveness and minimum environmental risk. The ore, containing gold, silver, lead, iron and sulphur, was mined from steeply dipping veins within a small open pit. The Kearney vein was until recently the focus of operations. The ore and barren country rock was mined separately, without the need for blasting, by ripping with powerful hydraulic excavators and bull-dozers.
The ore is taken to the processing plant, which is close to the open pit, by dump truck. It is crushed by a three stage crushing system (two stage for the smaller pieces) and ground with water in a ball mill to a fine sand (approximately 50% of which is less than 75 micron in size). Some of the ground material is treated by gravity methods but the majority of the material, mixed with water and a small amount of foaming & flotation agents, is passed to froth flotation tanks. Here the mixture is agitated and air pushed into the mixture. The metallic minerals have a preference for air rather than water and attach themselves to bubbles.
Rising to a froth, the foam is taken from the top of the cell, cleaned further by a repeat process, the water squeezed out and the resultant concentrate packed into bulk bags for shipment and sale to a smelter. The washed, fine sand that is left behind is very clean and is routinely tested several times a day to ensure process efficiency remains high and that minimal metals are left behind. Independent laboratory tests show that the clean tailings sand produced by the process is environmentally safe for the future.
Management have identified potential uses for the clean tailings sand. These uses include the protection of pipes and conduit being laid in trenches during construction, a filler for bitumen based products, admixture for plaster based products or for the manufacture of soils in combination with other materials on site. Nearly half of future tailings sands production are expected to be used as permanent backfill during underground operations.
Mining of clean, barren country-rock creates an increase in volume of that material by virtue of the pore spaces created. The amount of increase of volume varies between 30% and 40%. The company is obliged to backfill the open pit, restore the site and dispose of the surplus rock from the site under restoration arrangements.
The major mobile plant operated at the open pit comprises of a bull-dozers, hydraulic excavators, articulated, dump trucks and subsidiary plant.
Planning permits have been received for mining underground, where the majority of resources lie. Galantas is actively engaged in mine development. It has a trained crew and equipment to carry out the necessary tasks. Additional labour and equipment will be added as the mine expands. Some limited ore is produced in development of the gold veins and this feeds the processing plant on a part-time basis. The first concentrate derived from underground sources has been shipped. The mine expects to move from development towards production during the first quarter of 2018.
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UK & Canada.
Roland Phelps C.Eng MIMMM,
President & CEO
Mr. Phelps graduated from Leeds University in 1976 and is a qualified Chartered Mining Engineer, Geologist and Registrant of the Engineering Council. He has worked in Canada in precious / base metal mining and major mining engineering projects. He has held senior mine management positions in the UK. He is a director and founder of Welsh Gold plc (a small mining company and prestige jewellery brand). He has other investment interests in property and construction.
L. Jack Gunter P.Eng
Chairman, (Member of Audit Committee)
Mr. Gunter is a Licensed Professional Engineer of the Province of Ontario, Canada. He graduated in 1965 with a B.Sc (Geological Engineering) from the Michigan Technological University. He is qualified as a mining technologist from the Provincial Institute of Mining at Haileybury, Ontario and is a fellow of the Institute of Materials Minerals and Mining. Mr Gunter has been in the mining industry for over 40 years, including 8 years with Phelps Dodge Corporation and 14 years from 1975 with the RTZ Corporation, headquartered mainly out of the United Kingdom. Mr. Gunter has an intimate knowledge of the gold deposits at Omagh having been the responsible executive of the RTZ group of companies that discovered and evaluated them. He later founded Omagh Minerals Ltd which acquired the gold deposits, steering it through its initial phase of development and the public enquiry which led to the granting of planning consent for the development of the Omagh Mine.
R.Alexander P. Eng
(Member of Audit Committee, Compensation and Corporate Governance Committee)
Mr. Alexander is an independent petroleum industry consultant and President of Detector Explorations Ltd., and of Shunex resources Ltd.
James Clancy CPA
(Chairman of Audit Committee) (Member of Compensation and Corporate Governance Committee)
Mr Clancy graduated with a honours B.Comm from the University of Toronto in 1970. He achieved his CA designation from the Canadian Institute of Chartered Accountants in 1972. During the majority of his career he has held executive positions (controller, CFO and general manager) with companies in the construction industry in Canada, the U.S. and internationally. For the past seven years he has operated his own consulting firm specialising in offering financial expertise to the construction industry.
James I Golla
(Member of Audit Committee) (Chairman of Compensation and Corporate Governance Committee)
Mr. Golla has been a director of Altair Nanotechnologies since 1994. He has also served as a director of Apogee Minerals Ltd and Barton Bay Resources Inc. Mr Golla was a journalist with Globe and Mail, Canada's national newspaper, from 1954 until his retirement in 1997.
Contact Us
Email
[email protected]
OPERATIONS / INVESTOR RELATIONS
56 Botera Road Upper
Cavanacaw, Omagh
Co.Tyrone,
N. Ireland BT78 5LH
Telephone: +44 (0) 28 8224 1100
Fax: +44 (0) 28 8224 1194
GALANTAS CORPORATE REGISTERED OFFICE
DSA Corporate Services Inc
82 Richmond Street East
TORONTO ONTARIO CANADA
M5C 1P1
Telephone: 001 416-848-7744
Fax: 001 416-848-0790
Significant Shareholders and Percentage of AIM Securities not in public hands:
| Name and Municipality of Residence | Present office and Date first appointed as director | Number of Common Shares Owned, Beneficially Held or Controlled | % of Class Held or Controlled |
|---|---|---|---|
|
Ronald Alexander Calgary, Alberta |
Director September 20, 1996 |
112,000 | 0.04% |
|
Lionel J. Gunter La Manga, Spain |
Non-Executive Chairman and Director September 20, 1996 |
3,393,088 | 1.13% |
|
Roland Phelps Jersey, Channel Islands |
President and Chief Executive Officer and Director February 17, 2003 |
49,338,167 | 16.46% |
|
James B. Clancy Toronto, Ontario |
Director June 21, 2001 |
36,846 | 0.01% |
|
James I. Golla Mississauga, Ontario |
Director June 21, 2001 |
20,000 | 0.01% |
|
Róisín Magee Dublin, Ireland |
Director October 15, 2018 |
500,000 | 0.17% |
The number of AIM shares held by Directors is 53,400,101 and the percentage of securities held by Directors is 17.82%.
A Senior Officer of the company (Leo O'Shaughnessy, Chief Financial Officer), who is not a Director, holds 320,500 shares (0.11%).
Issued and Outstanding Shares total 299,686,805 as of December 21, 2018.
Mr. Ross Beaty is a major shareholder with 12.50% of the issued and outstanding shares as of December 21, 2018. He holds 37,447,478 shares.
Melquart Ltd, a London based investment institution, as of December 21, 2018, holds 62,224,545 shares,which is 20.76% of the issued and outstanding shares.
Miton Asset Management Ltd (Miton) subscribed for shares via three funds, in a private placement, the final closing of which took place effective December 21, 2018. The MI Select Managers UK Equity Fund subscribed for 3,636,708 shares (1.21%). The LF Miton UK Smaller Companies Fund subscribed for 29,467,226 shares (9.83%). The Miton UK Microcap Trust subscribed for 16,896,066 shares (5.64%) The total % of securities controlled by Miton is 16.68%
The number of issued securities not in public hands (Directors, Senior Officers, Melquart Ltd, Mr. Ross Beaty and Miton) is 67.87% of issued shares.*
*Controlling Shareholdings (apart from Directors and Senior Officers) of less than 10% of the issued and outstanding shares are not reported herein or used for the purposes of calculation.
The total number of issued securities as of December 21st 2018 is 299,686,805 and the share information above is considered current as of December 21, 2018 .
Company Secretary
George Duguay
DSA Corporate Services Inc
36 Toronto Street
– Suite 1000,
Toronto,
Ontario Canada M5C 2C5
Counsel to the Company in Canada
REVlaw
106 Banbury Road,
Toronto ON M3B 2L3
Solicitors to the Company in England
Gowlings (UK) LLP
15th Floor - 125 Old Broad Street
London
EC2N 1AR
Solicitors to the Company in Northern Ireland
Elliott Duffy Garrett
34 Upper Queen Street
Belfast BT1 6FD
Northern Ireland
Canadian Registrar - Transfer Agent
Equity Financial Trust Company
200 University Avenue, Suite 400
Toronto ON M5H 4H1
Toll Free: 1 (866) 393-4891 1 (866) 393-4891
Tel: (416) 361-0152 (416) 361-0152
Jersey Registrar
Capita Registrars (Jersey) Limited
12 Castle Street
St Helier
Jersey JE2 3RT
UK Depositary
Capita IRG Trustees Limited
The Registry, 34 Beckenham Road
Beckenham, Kent BR3 4TU
United Kingdom
Auditors to the Company
Abraham Chan LLP
300 New Toronto Street,
Toronto ON M8V 2E8