Proactive Investors - Run By Investors For Investors

Galantas Gold hails good progress with underground development during 2018

Thre group's total assets at the end of 2018 amounted to C$24.3mln, compared to C$13.7mln a year earlier, and cash stood at C$6.2mln, up from C$779,758 at end 2017
Galantas's gold mine in Omagh
The north/south Kearney vein was intersected in June as planned

Galantas Gold Corporation (CVE:GAL) (LON:GAL) ended 2018 with cash balances at 31 December 2018 of C$6.2mln, up from C$$779,758 a year earlier.

The company’s gold mine in Omagh, Northern Ireland, commenced limited production during the third quarter of 2018 from feed produced in the development of the Kearney vein.

READ Galantas lines itself up to become Ireland’s premier gold producer

During the fourth quarter, Galantas reported that delivery had been made of the first consignment of concentrate derived from underground feedstock at the mine.

The group’s revenue for 2018, which came from jewellery sales, was C$71,243, up from C$35,308 a year earlier.

As one might expect from a company that has not yet got the top-line moving north, 2018’s loss widened to C$2.89mln from C$2.08mln in 2017.

View full GAL profile View Profile

Galantas Gold Corp Timeline

Related Articles

November 15 2018
Telson's Mexican mines are set to deliver significant growth
July 10 2019
Its latest move is into Zambia, where it has taken an option on the small Buffalo project
Miners and infrastucture
April 17 2019
Mandalay Resources is a metals miner with producing assets in Sweden (Björkdal) and Australia (Costerfield)

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use