Galantas Gold PLC (LON:GAL) said it shipped C$567,000 (£329,000) worth of concentrate from its mine in Omagh, Northern Ireland, in the three months to end-March 2021, its third quarter.
The gold miner resumed underground blasting at the mine on 12 March, with grades now expected to improve as the development of the Kearney vein has re-started compared to low-grade feed currently being used.
Galantas has also reshuffled its board with Mario Stifano taking over as chief executive and Brendan Morris appointed as chief operating officer while president and former CEO Roland Phelps has stepped down.
Net losses for the quarter were C$640,000 (2020: C$680,000) with a cash outflow of C$296,000.
Cash balances were C$487,000 though in May and as part of its restructuring the miner raised C$8mln (£4.6mln) through a placing at 40c.
Eric Sprott, the well-known Canadian resources investor, acquired 6.3mln units for C$1.9mln giving him an 8.6% stake.
Other major investors included former money manager Michael Gentile, Melquart Ltd, a London-based investment firm, an existing shareholder, Ocean Partners UK, and Roland Phelps.
Phelps added today:: "I am pleased to leave Galantas in good hands. The new capital and leadership will allow the true potential of this exciting property to be realized. I will continue to provide consulting services to management and the board to ensure a smooth transition."