Preliminary results out for Q2 today:
Q2 Preliminary results- GALKF
While gold production was down a bit, this could have been predicted, due to the restrictions that were only lifted in June on removal of waste rock from the site. That forced the company to process lower grade material during the quarter.
Positive news, cash generated was up, capital deficit was down and cash generated from operating activities was way up, both from the last quarter, and year over year for the quarter.
PLUS-and this is big: The CEO reiterated his intention to reach 50,000 ounces of gold production a year, and this will be funded by cash generated by current operations. They are making progress on the permitting necessary to expand production, and are laying all the groundwork to becoming a much bigger producer.
GALKF is on track to become a major player in gold, in the stable political environment of Ireland.
Great time to buy, at historically low price, even as the company continues to grow into a consistent producer, and a cash generating machine.