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Galantas Gold starts up Omagh processing plant

The mine will ramp up as the underground development advances, with full-time operations expected in late 2018 or early 2019

Galantas gold mine
It is described as an important milestone

Galantas Gold Corp (LON:GAL) pushed higher on Wednesday after it told investors that the Omagh mine’s gold processing plant has now started operations, from the underground development of the Kearney gold vein.

The plant was recently upgraded, so it’s expected to operate part-time until late 2018 or early 2019 when stoping (bulk mining) begins.

READ: Galantas Gold should be in production in the third quarter

"This is another important milestone successfully and safely achieved and I look forward to our expected ramp up in development production,” said Roland Phelps, Galantas chief executive.

Earlier in the summer, the company confirmed it had reached the main Kearney gold vein, allowing for limited production can now begin.

It’s now anticipated that stoping from the first two horizontal levels will commence late in 2018 or early in 2019. Stoping operations are expected to provide an enhanced supply of mill feed.

In late morning trading, Galantas shares were 8.7% higher at 6.25p.

 -- Adds share price --

Quick facts: Galantas Gold Corp

Price: 1.625 GBX

AIM:GAL
Market: AIM
Market Cap: £5.25 m
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