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.075 x .08 - nice bid... finally go time?
Galantas granted 4 new exploration licenses for an area of approximately 160 sq. kms.
http://ih.advfn.com/p.php?pid=nmona&article=51819446
The 43-101 is a game changer IMO! And its not to far off - NICE!
It will happen--- and I suspect when it does, it will blow right past .10!
There is not much upside resistance in this little stock, and when it gets noticed (finally!) it should go to .20 or .30, easily! I mean after all, it is a producing mine, with positive earnings, and HUGE growth underway.
Same ole... some ole. lol
Hope we finally break .10
GAL up by nearly 20% today on London AIM, on heavier than usual volume.... I suspect good news is on the way.
Toronto shares of GAL should follow the London market higher!!
A good 43-101 could really help here. First step towards 50K Oz!
These little junior golds are really asleep right now-- not much interest. It does allow for cheap accumulation, which is nice, because every day the US government keeps printing more dollars, now at a rate of trillions per year, in excess of revenue, inflation is sure to follow.
While inflation is generally bad, it is great for the gold price, and even better for junior miners, who will outperform physical gold, once the perception of higher inflation takes hold.
This is a long term hold.... apparently!
Galantas Appoint ACA Howe International (UK) to Undertake Interim Resource Report
TORONTO, ONTARIO--(Marketwire - March 22, 2012) - The Directors of Galantas Gold Corporation (TSX VENTURE:GAL)(AIM:GAL) "the Company", the AIM and TSXV quoted producer/developer/explorer with a 100% interest in Ireland's only operating gold mine, are pleased to announce that the Company has awarded the estimation and reporting of an Interim Resource for the Omagh Gold Project to ACA Howe International Ltd (Howe UK).
This independent report is to be prepared to Canadian National Instrument (NI) 43-101 standard. Subject to fulfilment of the anticipated laboratory results timetable, it will include drilling results and analyses received to April 2nd, 2012 and will identify all resources discovered at that date. Expected to be published by the end of May 2012, it will also comment upon the Company's Underground Mining Scoping Study. The Mining Scoping Study contains likely cost estimates for the establishment and operation of an underground mine, the mining method, support, backfilling detail, tailings storage and an expanded processing plant of the same type as the existing operating plant. The existing plant utilises high recovery, safe & low toxicity, froth flotation processing and produces a concentrate sold under a life of mine off-take agreement with Xstrata Corporation.
The drilling program currently has six rigs operational, will continue after April 2nd, 2012 and a second Interim Report to (NI) 43-101 standard is expected to be prepared during Q4 2012. As of March 15th2012, approximately 6373 metres (53 holes) have been drilled, since March 2011, in the anticipated 15,000 metre program. In February 2011, with a sixth rig operational, 1257 metres have been drilled. Approximately 7 holes, drilled but not assayed, are expected to have been completed (or nearly completed) by April 2nd and will be carried over to the second Interim Resource Report, with the results of drilling of the remainder of the program. An updated assay report disclosure will follow the April 2nd deadline, or earlier if available.
Roland Phelps, President & CEO, Galantas Gold Corporation, commented;
"I am very pleased Howe UK have agreed to undertake this important task. The NI 43-101 standard is an exacting format but forms the core of our resource disclosure for shareholders. The interim report will put our drilling results in perspective in terms of ounces of gold in the ground, provide commentary on commercial aspects of our recent discoveries, provide a base for continuation of the drilling program and allow outline planning for an underground mine to proceed. The encouraging results so far are the product of a lot of hard work and expertise by the geological and support team, for which I thank them."
Galantas Gold Corporation Issued and Outstanding Shares total 235,650,055.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
More good news and nothing!
The anomaly continues--- price and volume continue to be higher in London, and the price in Toronto stagnant, to a bit lower on the close today.
No way to explain this....but it is a buying opportunity.
Big opportunity today, to take advantage of the spread between the 15% higher close in London, and the current LOWER price on the Toronto exchange.
This anomaly will not last-- the prices will equalize.
I'm buying!
The news earlier today, which sounds modest- permits approved to allow transport of waste rock- is a big deal for the company.
Not only does it allow Galantas to keep the mine humming, since they had run out of storage for waste rock on site, but it also augurs well for other permit issues that await decision by Northern Ireland authorities. Galantas is quite dependent on permits, to allow it to expand its operations, and gold production. That's why today's news is so important.
Only 15% on 3MM vol? Ugh
Permit granted--story below. Huge volume trading today on London AIM exchange. Over 3 million shares, stock up 15% over there. It has to follow on the Toronto Exchange!!
Here is the news:
RNS Number : 0353Y
Galantas Gold Corporation
23 February 2012
?
GALANTAS GOLD CORPORATION
TSXV and AIM: Stock Symbol - 'GAL'
GALANTAS ANNOUNCES PERMIT TO EXPORT ROCK FROM OMAGH GOLD MINE
Date : 23 February 2012. Galantas Gold Corporation (the 'Company'), the AIM and TSXV quoted producer/developer/explorer with a 100% interest in Ireland's only operating gold mine, is pleased to report that its wholly owned subsidiary, Omagh Minerals Limited (OML), has received confirmation of planning permits to export rock by road from the gold mine. Surplus rock, not required for restoration, is currently stored at the Omagh site in stockpiles which are at maximum capacity. The permits allow the surplus rock to be integrated into the local aggregates industry. Conditions are attached to the permits and are in line with OML expectations. The planning permit approvals were by the Department of Environment Northern Ireland.
Roland Phelps (President and CEO, Galantas Gold Corporation) commented, "I am pleased that we have received the permits, which were the result of a long consultation process. Apart from the road transport issue, the permits also cover the on-going restoration program at the mine.
Other permit applications are in the planning pipeline. Recently OML applied to construct a "cut and cover" type adit within back-fill of the worked section of the open pit and a determination is awaited. The adit will allow potential access to gold mineralisation below the Kearney open-pit, subject to a successful planning application for an underground mine. The underground mine application is being finalised with a pre-consultation exercise in place and Environmental Impact Assessment being completed."
This disclosure has been authorised by R.Phelps C.Eng MIOM3, (President & CEO, Galantas Gold Corporation), the Qualified Person for the exploration program under NI 43-101 and who is also a "Qualified Person" as defined in the Note for Mining Oil & Gas Companies, June 2009, of the London Stock Exchange.
Galantas Gold Corporation Issued and Outstanding Shares total 235,650,055.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including future exploration assessment. Forward-looking statements are based on estimates and assumptions made by Galantas in light of its experience and perception of past results, some of which may have been provided by third parties and be of reduced reliability, current conditions and expected future developments, as well as other factors that Galantas believes are appropriate in the circumstances. Many factors could cause Galantas' actual results, the performance, achievements or significance to differ materially from those expressed or implied by the forward looking statements , including: permitting, construction scheduling, estimates of aggregate demand, gold price volatility; actual and estimated metal grades and geologically interpreted widths, actual and estimated metallurgical recoveries; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign involvement; speculative nature of gold exploration; dilution; competition; loss of key employees; additional funding requirements; planning and other permitting issues; and defective title to mineral claims or property. These factors and others that could affect Galantas's forward-looking statements are discussed in greater detail in the section entitled "Risk Factors" in Galantas' Management Discussion & Analysis of the financial statements of Galantas and elsewhere in documents filed from time to time with the Canadian provincial securities regulators and other regulatory authorities. These factors should be considered carefully, and persons reviewing this press release should not place undue reliance on forward-looking statements. Galantas has no intention and undertakes no obligation to update or revise any forward-looking statements in this press release, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Enquiries
Galantas Gold Corporation
Jack Gunter P.Eng - Chairman Investor Relations Consultant
Roland Phelps C.Eng - President & CEO Courtenay Heading (Maclir Consulting Ltd)
Email: info@galantas.com Email : c.heading@Galantas.com
Website: www.galantas.com Telephone : (UK) +44 (0) 7624 424 455
Telephone: +44 (0) 2882 241100
warrants expire soon, exercisable at .10.....something will happen soon to move the price up.
No one benefits if the stock price is below .10 when the warrants expire, so the price will soon move up.
Check the technicals on this stock--- very bullish.
There are a number of possible triggers to a big run, and I am happy to wait for the run. It will happen.
How is this stuck at .07? Crazy...
.10 break is going to be fun
I think there is little upside resistance, once we break through .10--- I am looking for this to be a big winner this year, as they show they can grow the mine, with internal funding.
Nope... 9:45 AM EST 0.090 148,000
eom-
I hope that was you on the bid side, that just picked up some cheap shares of GALKF at .065..... hard to believe with the news out this morning, that the stock would go DOWN!
It is up in London, why it should move the other way in Canada makes no sense to me.
There is no way to slice that news as anything other than GREAT!
Thanks on both accounts!
I've sat bid on this for so long... never get any shares!
I know! Even if no other news comes out, this stock will absolutely be north of .10 by June-July 2012. ALMOST GUARANTEED- here's why:
Because of the outstanding warrants held by Kenglo, that are exercisable at .10/share.
The fact that these warrants all expire by end of July, and are sufficient to give 32% ownership of the company to Kenglo, mean that they WILL be exercised, at .10, or in the alternative the company will issue shares to Kenglo, to repay the outstanding loan (1.25mm), at a minimum conversion price of .10/share. If that happens, with the share price below .10, there would be a gain to the company from the extinguishment of the debt at a discount.
This is about as close to a sure thing in the stock market as there is. 30% gain by july 22. That's about 60% annualized gain, from yeterday's close- not bad at all.
Man... we are people going to wake-up on this one?
Q4 Production: up 255%
nice numbers released for Q4 today, at London AIM website. (see below)
(by my own rough estimates, these number will mean income for Q4 of over %500k, and income for the year of around $1.66million)
This mining stock is a screaming buy, and is poised to continue to increase production, all funded by internal cash flow. No downside here!
Today's release below:
GALANTAS GOLD CORPORATION
TSXV and AIM: Stock Symbol - 'GAL'
GALANTAS ANNOUNCES RICHARD CREW AS CHIEF OPERATING OFFICER AND Q4 TRADING UPDATE
Date : 7th February 2012. Galantas Gold Corporation (the 'Company'), the AIM and TSXV quoted producer/developer/explorer with a 100% interest in Ireland's only operating gold mine, is pleased to announce the appointment of Richard Crew (47) as Chief Operating Officer. Mr Crew was General Manager at the Company's Omagh Minerals Ltd subsidiary (OML) since June 2010 and has overseen the expansion in production and development of the Omagh gold mine.
The Company also announces provisional production figures for the last quarter of 2011 (Q4).
Concentrate production in the last quarter of 2011 saw a 255% increase compared to 2010. At 740.2 wet tonnes, the increase is due to improvements in the processing plant and to milder winter conditions than the unusually adverse conditions experienced in 2010. During the whole of 2011, concentrate production was up by 55% compared to 2010, even though the early part of the first quarter of 2011 was affected by the same adverse winter conditions as noted in Q4 2010.
The metal contents of shipped concentrate are estimated as follows,
Q4 2011 production
Gold 47,251grams 1,519oz
Silver 148,135grams 4,763oz
Lead 80,765KGs
Gold Equivalent 1,711oz
2011 production for the year
Gold 201,515grams 6,479oz
Silver 531,296grams 17,081.57oz
Lead 280,943KGs
Gold Equivalent 7,307.50oz
The production, metal and sales figures are provisional and subject to averaging or umpiring provisions under the concentrate off-take contract with Xstrata Corporation, detailed in a press release dated 3rd October 2007. Detailed audited financial results for the quarter and year are expected in the usual timeframe, by the end of April 2012.
The Company is pursuing an aggressive exploration program on its Omagh property and is pleased to announce the addition of a sixth core-drilling rig that is being mobilised to the site.
This disclosure has been reviewed by Roland Phelps (President and CEO), who is qualified under the meaning of N.I 43-101 and who has also reviewed this release for the purposes of AIM requirements. The information is based upon operating data prepared under his supervision.
Galantas Gold Corporation Issued and Outstanding Shares total 235,650,055.
From the IR guy:
Preliminary Q4 trading report in preparation, awaiting "receipt of certain analytical results" will be published as soon as possible.
Also, he relayed a short mention of the land purchase by precious metals trading specialist firm Libertas:
"Galantas (GAL)- £4,750 per acre for hill land in Northern Ireland, right next door to a large hole in the ground seems a steep price, but as that hole is Galantas’ gold mine and the land concerned overlies the Joshua vein discovery, it could be a very cheap price to pay."
Strategic land purchase announced:
http://ih.advfn.com/p.php?pid=nmona&article=50868459
Ooops.... my bad.
Sorry about that.... maybe someone knows that the 2011 Q4 results will be even better.
Given they releases last year numbers on this date, hopefully the numbers are coming soon.
Provisional production numbers: excellent for the typically bad weather of the fourth quarter!
Here:http://www.marketwire.com/press-release/Galantas-Gold-Corporation-Trading-Update-Second-Vein-Kerr-Vein-Exposed-for-Mining-TSX-VENTURE-GAL-1103734.htm
This explains the higher volume and price!
GALKF .089 - that's a start
A lot of volume, and GAL share price up about 15%, on the London exchange over the past week. Apparently, some investors thing the new drilling results make the company worth buying.
Wonder how long it will take the Toronto-traded GAL shares (which is where the GALKF shares trade) to catch up. Looks like an opportunity to buy shares at a discount from real value.
Very nice. thanks
Not sure, but here is another report, where the same number is used:
http://www.proactiveinvestors.co.uk/companies/market_reports/37791/proactive-news-summary-galantas-gold-anglesey-mining-dragon-oil-falkland-oil-and-gas-gulf-keystone-xcite-energy-0000.html
thats not for 2012 is it?
I would like to go with the 50,000 AU annual production predicted by the analyst referenced in post 96.
That would be a big jump from here, and would definitely put Galantas on the map. Would also mane about a tenfold PPS increase, minimum.
Any guess on production?
More gold + silver dsicovered at Joshua vein-- see release here:
http://tmx.quotemedia.com/article.php?newsid=47482727&qm_symbol=GAL
Very nice... thank you!
Two analysts quoted in this story:
http://www.proactiveinvestors.co.uk/companies/news/36961/galantas-gold-could-provide-an-exciting-growth-story-says-westhouse--36961.html
Both positive on the stock. One says Galantas could achieve 50,000 ounces gold production annually. This would be a HUGE jump from current production-- about a tenfold incrase!
I still think this is WAY undervalued- and with .10 warrants exercisable in 2012, I believe the share price will soon move above that level.
Results for Q3 out this morning. Not quite as good as I had hoped, but higher revenue, better production, and continued progress. Nothing negative, but nothing spectacular, either.
Here: http://ih.advfn.com/p.php?pid=nmona&article=50204931
SEDAR does not yet show the filing, so its not possible yet to read the "Management Discussion," which should be most interesting for the quarter, and may shed light on what we can expect going forward in terms of production increases. From the limited amount of information in the press release, it sounds like production is being hampered by the inability of the company to haul away waste rock and earth from the strip mine, pending regulatory approvals, or improvements in local roads. Unfortunate if that is the case. There ought to be some kind of solution for such a basic challenge.
Good post thanks.
I think given that Galantas produced over 1,000 oz in June, and could have had three months of that much production or more, they could easily have netted $3 million for the third quarter, which would mean about $.01 per share.... which would be .04 annually.
With the share price currently trading at just twice that amount, this stock really should be trading a LOT higher.
In 2010< they filed third quarter numbers on Nov 25, second Q was filed on August 23, 2011.
So I would expect them to file on November 24th or 25th this year. I know that is Thanksgiving, but since Canada celebrates their Thanksgiving in October, that shouldn't affect Galantas filing schedule.
So I would look for a PR in about two weeks.
Should be a great quarter, given the high price of gold during the July- September period, as well as the increased production that they should show as a result of the new equipment put into service earlier in the year.
Gold price was started around $1500 July 1, and touched the $1900 area a couple of times, before pulling back to about $1700. That means they were getting around $200 more an ounce for the period as a whole, than the previous quarter.
Looking for a nice bump in price if the results are where I expect. It really should be able to break .10/share, and not much resistance above that level.
Long answer to simple question, but you got me thinking.
When do you expect earnings?
You lose 50% of your money if you buy...lol
no wonder there's no trading, with that kind of spread.
Bid/Size Ask/Size
0.055 / 5,000 0.097 / 5,000
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