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Mixed news:
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11327489
Planning approval received for underground mine work, but an appeal of the approval for removal of waste rock will delay, and have a negative effect on, current mine output.
Not sure what the "procedural issues" were that are the basis of the lawsuit, but whatever they are, the agency is reported to not be defending itself, meaning the process of approval will need to be repeated for the waste rock removal.
I know! Cheaper now than when they had basically NO revenue! And they have a record of doing what they say, and increasing production.
There are, and probably always will be, quarter to quarter fluctuations, due to weather, currency translation, equipment issues, and permitting and regulatory delays. You have to look at this as a long term investment. I have done that, and am up over the long term.
This will be a .25-.50 stock, it just will take another year or so. This is definitely a buy point.
Crazy... that you can buy at .05 today!
I agree-that's why I think we have a short buying window here, before the true value is recognized. Not to mention the long term uptrend in the gold price, which is likely to continue, give all the stimulative money policies both here and around the world.
This Q's profit was a nice surprise... should only get better from here on out!
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.
43-101 post on GALKF Ihub board:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77188702
And forgot this item:
Cash generated from operating activities after changes in non-cash working capital
2011
$3,339,617
2010
$1,183,905
change:
182.1%
Final Results:
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11176410
Nice news:
2011 compared to 2012:
Revenue +38.9%
Costs +20.5%
Net Income +114.7%
Cash on hand +59.3%
Great results-- more to come!!!
Q4 production up 255%-- another strong quarter. More $ to continue to fund mine expansion!
This one is going to be a big winner.
I see price tripling from this level in 2012-- and could/should go even higher, if management continues to execute, and some regulatory approvals come through.
Great buy here, under .08!
.095 - 52 week high... earnings this week.
News should start to pick up here soon, from last PR:
Detailed unaudited financial results for the quarter are expected in the usual timeframe, at the end of August 2011.
Assay results are expected to be regularly announced from September 2011.
SEE GALKF Board for messages about Galantas Gold.
GALKF is the US trading symbol-- GAL is the TMX Toronto symbol
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