Share Name Share Symbol Market Type Share ISIN Share Description
Galahad Gold LSE:GLA London Ordinary Share GB0030017320 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 17.04p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 132.10

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DateSubject
15/1/2008
21:05
brad44: Info I received today re payment. anybody any opinions as to which is the best option to take? GALAHAD GOLD PLC are undertaking a Return of Capital on the following basis: On 14th September 2008, the Board announced that it intended to propose a Voluntary Liquidation and Share Capital Reorganisation of the Company, which would allow shareholders to realise some of their investment for cash either prior to the commencement of the Liquidation, or during the Liquidation process. Under the terms of the proposals shareholders can elect for one of the following options: Option 1: Shareholders will receive 1 New Ordinary share and 1 A share. Each A share will entitle shareholders to receive a single Pre-Liquidation Dividend of 16.5 pence per A share. This will be treated as Income for UK tax purposes. Or Option 2: Shareholders will receive 1 New Ordinary share and 1 B share. Each B share will entitle shareholders to receive a Fixed Capital Return of 16.5 pence per B share which may be paid before or after 6th April 2008. This will be treated as Capital for UK tax purposes. Or Option 3: Shareholders who do not elect for one of the above options will instead receive 1 New Ordinary share and 1 C share. Each C share will entitle shareholders to a Fixed Capital Return of 16.5 pence per C share which will not be payable before 6th April 2008. The New Ordinary shares will entitle the holders to participate in any distributions made by the Liquidators after the payment of the Fixed Capital Return on the B shares and C shares and will have similar rights to the Existing Ordinary shares. You have the following options: 1 Accept Option 1 on your holding of GALAHAD GOLD PLC ORD GBP0.01 shares. If you elect to accept Option 1, your Ordinary Shares will not be available for you to sell. 2 Accept Option 2 on your holding of GALAHAD GOLD PLC ORD GBP0.01 shares. If you elect to accept Option 2, your Ordinary Shares will not be available for you to sell. 3 Accept Option 3 on your holding of GALAHAD GOLD PLC ORD GBP0.01 shares. If you elect to accept Option 3, your Ordinary Shares will not be available for you to sell. -------------------------------------------------------------------------------- On the basis of the estimated net asset value of 18.87 pence per Existing Ordinary share the remaining 2.37 pence per Existing Ordinary share (together with any additional amount available for distribution to shareholders) will be distributed following the discharge of all of the Company's liabilities and the release by the Liquidators of any capital retentions required by them. The Directors anticipate such distribution could be made in the first half of 2009. The proposals are subject to shareholder approval at both a Reorganisation Meeting to be held on 8th February 2008 and a Liquidation Meeting to be held on 20th February 2008. Subject to acquiring the necessary approval the Record Date for the Share Capital Reorganisation is expected to be 8th February 2008. Dealings in the Existing Ordinary shares are expected to be suspended as at 7.00a.m. on 8th February 2008. Please note it will not be possible to trade your Galahad Gold shares after this time. The timing of the payment of the Fixed Capital Return on the B shares will be determined by the Liquidators. However, the Directors currently anticipate that payment will be made before 6th April 2008. Payment in respect of the elections made for Option 1 are expected to be credited to your account on or after 15th February 2007, payment in respect of elections for Option 2 are expected to be credited to your account on or after 28th March 2008 with payment in respect of elections for Option 3 expected to be credited on or after 10th April 2008. Before making any decision please take into consideration all relevant factors of the event including the current share price and any possible tax implications. If you require any further information in making your decision please contact an Independent Financial Advisor. Should you retain your holding of Galahad Gold shares we will update you again in due course. -------------------------------------------------------------------------------- If we do not receive a valid election from you, we will elect Option 3 on your behalf. Please ensure you submit your option before 25 January 2008 to enable us to process your instruction in accordance with the Company's timetable for this event. I am really not sure which is the best option here? surely they mean Feb 2008 and not 2007 (Payment in respect of the elections made for Option 1 are expected to be credited to your account on or after 15th February 2007,) this must be a typo? All opinions greatly accepted. regards brad
14/2/2007
19:34
seagreen: Ok lets update my nov o6 post dont forget the key to GLA really kicking off is when they can turn their UMN shares into cash and I still believe this is not untill 2008 unless of course someone buys Uramin which would crystalise their holding...which aint so daft in this market and being such a political find I expect one or two government vehicles will be looking very closely as we speak... Which does beg the question what happens if its taken over and they have not exercised their options os for now I shall leave the options out. 10.4% of NDM at todays market cap of Can$969.8 = £44.09M after sale. 20.267M shares of UMN at £2.3p = £46.6M 75% of IMY market cap of £8.4M = £ 6.3M Giving £96.99M market cap Cash £40.3M from sale less £9,6M redemption including premium giving us £30.7M Giving £127.69M market cap Where that debenture came from I do not know as it was not in ADVFN financials at y/e 2005. Sorry I missed it in earlier calcs. I can see another £4.4M creditors in y/e 2005 so lets call it Giving £123.29M market cap OK lets be racy and include the options 833,000 at say £2.30 less £1.50 giving us another £1.5M Giving £124.79M market cap Which with 712.9M shares in issue gives us 17.5 pence a share Now I am going to let my imagination run and sugest to you that I think UMN will get taken out at a premium because it is too sensitive a material to be held by a non government company and UUU has just gone and there is a huge appetite so lets say £3 for UMN giving an additional 70p times 21.1M including options or another £14.8M Giving £139.59M market cap Which gives us 19.6p Although personally I think UMN will go for at leats £3.50 Giving £150.14M market cap Which gives us 21p Or very nearly a 100% uplift, which is why dear market makers I shall be keeping my shares...Toodle pip 8-) My stuff nicked back from Capt Bligh earlier 8-) Capt Bligh this was Seagreens article in Nov 06 I'm sure he won't mind and you can add 500k warrants in UMN worth just under a million. UPDATE AT CURRENT MARKET PRICES (at Bid) 20.8% of NDM at todays market cap of Can$721.5M = £67.4M 20.267M shares of UMN at £1.13p = £22.9M 75% of IMY market cap of £7.2M = £ 5.3M ------ £95.7M ------ versus current market cap of £63.275M Which gives a share price equivalent of 712.9M shares of circa 13.42p Which at todays price of 8.875p implies a 51.3% potential uplift If you throw in UMN at £2 now that would increase the NAV from £95.7M to £113.3M NAV or a share price of circa 16p Which at todays price of 8.875p implies a 79% potential uplift PREVIOUS POST seagreen - 21 Nov'06 - 15:03 - 2484 of 2503 edit Ok here goes re GLA 20.8% of NDM at todays market cap of Can$640M = £65.3M 20.267M shares of UMN at 95p = £19.3M 75% of IMY market cap of £7.2M = £ 5.3M ------ £89.9M ------ versus current market cap of £61.5M Which gives a share price equivalent of 712.9M shares of circa 12.6p Which at todays price of 8.75p implies a 44% potential uplift Unless you think UMN is going to about £1.50 which would increase the NAV from £89.9M by £11.1M giving £101M NAV or a share price of circa 14p Which at todays price of 8.75p implies a 60% potential uplift Oh forget its an accounting thing but if it goes up 20% you might still say ta. Oh if life was so simple 8-) Plus with Northern announcement today which has given a 40c rise to their share price at the mo
23/1/2007
19:04
pparkin405: Capt Bligh this was Seagreens article in Nov 06 I'm sure he won't mind and you can add 500k warrants in UMN worth just under a million. UPDATE AT CURRENT MARKET PRICES (at Bid) 20.8% of NDM at todays market cap of Can$721.5M = £67.4M 20.267M shares of UMN at £1.13p = £22.9M 75% of IMY market cap of £7.2M = £ 5.3M ------ £95.7M ------ versus current market cap of £63.275M Which gives a share price equivalent of 712.9M shares of circa 13.42p Which at todays price of 8.875p implies a 51.3% potential uplift If you throw in UMN at £2 now that would increase the NAV from £95.7M to £113.3M NAV or a share price of circa 16p Which at todays price of 8.875p implies a 79% potential uplift PREVIOUS POST seagreen - 21 Nov'06 - 15:03 - 2484 of 2503 edit Ok here goes re GLA 20.8% of NDM at todays market cap of Can$640M = £65.3M 20.267M shares of UMN at 95p = £19.3M 75% of IMY market cap of £7.2M = £ 5.3M ------ £89.9M ------ versus current market cap of £61.5M Which gives a share price equivalent of 712.9M shares of circa 12.6p Which at todays price of 8.75p implies a 44% potential uplift Unless you think UMN is going to about £1.50 which would increase the NAV from £89.9M by £11.1M giving £101M NAV or a share price of circa 14p Which at todays price of 8.75p implies a 60% potential uplift Oh forget its an accounting thing but if it goes up 20% you might still say ta. Oh if life was so simple 8-) Plus with Northern announcement today which has given a 40c rise to their share price at the mo
21/11/2006
14:18
seagreen: http://www.galahadgold.com/currentprojects/uramin.html Looks like their investment in UraMin Inc which they bought for £3.7M is now worth £19.3M and is now climing.... Can we have the Uranium price int he header it seems to be rather a significant investment as the totla market cap of GLA is only £61.5M Their investment in UMN has gone up by £9.1M since Sept 2006 and the GLA share price has up less than a penny since Sept or circa £5M depending on where you do your comparison any one got a nav calculation of GLA currently?
23/4/2006
10:57
bowlhead: IMY is where the risk is as I see it. Sure there's lots of upside potential, but it will take years and hundreds of millions of capex to exploit. GLA is not going to invest hundreds of millions into it itself, so it will be heavily diluted - you can't just look at £2bn NPV and think 'right, that's ours'. Everyone knows IMY has massive resource - and they picked it up very cheaply because nobody else wanted to try and exploit it. They wanted to do an underground mine and tunnel network - the only way to really get year-round production in greenland's climate - but realised it was not going to be practical, or get them access to all the Moly. So now they've given up and are going to have a go at pre-feasibility on doing an open mine. Then if that's OK they'll wait until the weather improves next year and do a proper feasibility study. Then if that's OK they'll raise finance, then wait until the weather improves and start construction. Then they'll wait until the weather improves and continue construction. Hopefully they'll remember to build a road (80km?) so that some brave drivers can actually get to and from the place in the middle of nowhere in the arctic conditions. Then at some point in the future they'll start mining. Then they'll wait until the weather improves and continue mining. Though the pre-feasibility could be done by the end of 06, they aren't going to be bringing home the bacon for a very long time. There was talk of kicking off production in 2008, but that was when we were doing feasibility study last year - not going right back to square 1 and starting pre-feasibility this year. The timescales and dilution expected on IMY (and, for that matter, NDM and UMN) mean that you can't just look at GLA and think "right, I've added up all the NPV's and it comes to a sh1tload more than the GLA share price, so I'll pile in now and when the market inevitably realises how undervalued it is at some point in the next few weeks, I'll get back 5 times my money"... But as something to tuck away for a few years or put into a SIPP, I think you could do well with GLA. Of course, if you are investing more than a few hundred pounds you could just buy the individual stocks and get greater liquidity over them than GLA has with its 10-80% stakes! And save money on the administration costs of GLA. But then you'd miss out on the extra things GLA itself does, like finding all these mining resources before they become available- which is why GLA's a decent long term play IMHO. DYOR etc.
23/4/2006
10:25
bowlhead: Nice bullish report SAGEM! On Uramin though - in the tables on pg 3 & 4 of the pdf they give a valuation of GLA's interest, allegedly based on share price, of £14.4 million. Then in the Uramin section they talk about the recent placing (i.e. recent when the report was done last Oct) and say "Galahad's stake has as a consequence reduced to 17%, but at the placing price of 75 cents its 20.3m shares are worth $15.2m or £8.6m." A little bit inconsistent with the 14.4m it uses in the headline figures on pg 3 & 4! Ah well. Doesn't matter too much as after dilution for the recent placing, GLA's stake in Uramin is now valued at £18.75m at close of play Friday which can't be a bad thing. Also the large investment at Northern Dynasty is doing well: the shares that were $Canadian 5.75 are now 7.75 (though it's due to upgrades of inferred resources rather than actually producing anything - still a long way out from paying GLA any dividends!). NDM and Uramin following their share price growth do support a lot of the GLA share price now - but they need to, because the InterMoly shares and warrants have tanked!
20/4/2006
20:10
bowlhead: ---> Blue_max How much higher levels were you expecting? GLA will own 11.64% of 174.2m Uramin shares at 68.5p (according to the link to the admission document). That's 13.9m quid of assets which is now relatively more liquid. Not that we intend to sell it anyway... GLA has a market cap of 81m (@11.75p) so 13.9m quid is about 2p of GLA share price, right? GLA share price has basically gone from 10p to 12p in last 2 weeks. QED. Yes there are other factors that account for some of that 2p rise, but it's not like ownership of uramin is something that has only happened in last couple of weeks
17/11/2005
07:39
jonwig: Just announced - see header link: International Molybdenum plc announces an upgrade of Molybdenum Resources to Measured and Indicated Status. An upgrade in the GLA share price might be called for ...
28/9/2005
02:01
blue_max: Energy Supercycle Theory, that the directors are so fond of, is all very well but GLA share price won't be going anywhere fast, as long as they are happy sitting on the assets and do not make progress towards getting the stuff out from deep down.
13/12/2004
17:59
code warrior: Mad mike-->re:post 602 Study: 5 year study - exploration to production. Very interesting comments at your 653. Thanks. As you know, the whole purpose of the post 602 study was to see if there is any price "behavioural" correlation that can be observed from recent explorers turned "successful" mining production companies. For this, I looked specifically to AIM listed stocks AVM, OXS and POG. I put the emphasis on "behavioural" because the starting point was to assume that, for an investor potentially interested in the UK (non-dollar denominated) mining sector, everything is almost completely in the price. Whilst not perfect, it did not seem to me to be a bad experiment to start with that assumption. In other words, for purposes of the experiment, I assume that a potential investor coming afresh to the sector knows nothing. But everything known by active participants about the stock and operating issues you refer to such as forward selling policies, operating costs, stage in the extraction phase, levels of residual reserves within company etc are already in the price. The next thing that was needed for the experiment was an extrinsic yardstick by which to judge the behaviour of AVM, OXS and POG - an absolute as well as a relative set of measurements. I also needed to see where GLA might be in the whole pattern. So, I selected GBS (Gold Bullion Securities Ltd) as a good proxy for the spot price of Gold. Nonetheless, as you also know, GBS has only a short history as a listed Company. Therefore, on the premise that other minerals are usually found with any economically viable Gold discovery, I selected well-established big-cap RIO. From the above, to enable comparison, it remained to translate the ingredients into GLA price equivalent. I must say, I was surprised by the extent of correlation I found between RIO and GBS. Whether there is sufficient evidence to support a "statistical correlation", I do not know. But, it does appear to me that GBS and RIO historically represent a very good proxy to judge AVM, GLA, OXS and POG. I elaborate below. In post 608 to Skirbell, I said: " As also stated by point numbered 3 of my study (see below the charts), the crossover in the 2 year chart by the GLA price above RIO and GBS in GLA price equivalent, that notably is not yet apparent in the 5 year chart, strongly suggests to me GLA is now well on its way to passing its "Landmark Test" - namely, the economic viability of Pebble is reasonably well known and acknowledged in the industry." (paragraph 6) If you look at the 5 year chart (reproduced below), you will see that the above comment is apparently not strictly correct - GLA had in fact crossed over and then returned back under RIO and GBS in the 5 year Chart in GLA price equivalent: I believe the "raw" observations of the post 602 study do enable us to design some "commitment to invest" rules that should dramatically improve the odds in favour of an investor participating in "successful" explorer to mining operations. I believe those rules might read: 1. All commitments to be based on the 5 year measurements. Exploration takes time, success takes even longer; 2. Applying Technical Analysis, look to identify a clear resistance line between not less than 2 points in a "U" price pattern; 3. Ensure the price pattern used in forming the "U" contains little or no horizontal price lines. A price pattern containing a high proportion of horizontal price lines is indicative of many trading sessions with little or no price movement. This, in turn, is indicative of less than acceptable enthusiasm that might be expected from knowledgeable market participants in an early stage and little known but successful mining explorer. Ergo, in all probability, the stock is not exactly on the brink of success; 4. When the price pattern breaks the "U" pattern from below in an upward direction, then commit as this appears to stand a high probability of success. In TA terms this often manifests as "a cup and handle" pattern, but I have deliberately not used that description because it could so easily also manifest itself as a rectangular area of congestion as well as in other conventional TA patterns; 5. If you want to be extra careful, let the price breakout also pierce through the Gold or equivalent price (on a daily closing basis), as expressed in the stock's price equivalent. Do the above rules work? I do not know whether they will work every time. But, that is what I have deduced from the experiment. See below. With AVM, the "U" is formed around mid 2001 with another intermediate top in 2002. The horizontal resistance line formed from that data extending to the right is pierced in late 2002 and the data appears to comply with rule 3 above and therefore is a qualifying measurement. As it also happens, very shortly thereafter, the price pierces the GBS line (rule 5 above) and then explodes; Next with POG, the "U" is formed in circa May 2002 and January 2003, shortly to be broken in exactly the same way as AVM approximately 1 month later. Also again the measurements comply with rules 3 and 5 above. Next with OXS, we appear to have a "U" formed over a longer period (relative dealys maybe to conclude feasibility?), starting circa August 2001 but not really beginning to be recognisable until first half of 2002 that contains 3 intermediate tops and not all yielding a "horizontal" resistance line. Quite a lot of hesitation here in the price - enthusiasm battling with negativity. Then finally, in May 2003, a clear resistance line drawn in from the right side of the chart is pierced. Again, we have a valid measurement complying with rule 3 and it is up to the investor to decide whether or not to wait for rule 5 confirmation. Finally, we turn to GLA to see what the above rules tell us. To me, it seems no measurements were possible until 2004. Prior to that, none comply with rule 3. The price data is full of horizontal price lines that tell of many trading sessions with little or no price movement. That is not a reliable basis for construction of a clear resistance line on a "U" price pattern. The whole breakout in the GLA price turns out "false". Yes, of course, it is easy to get things right with hindsight. But, I think it is also a place to look for insight. If the above is correct, what does that tell us about GLA today? We appear to have an area of price congestion defined at the upper "resistance by two intermediate tops at circa 15p in April and again in June 2004. In my own chart, this also throws up in October/November 2004. The difference is in the closing prices assumed (mid price of mm spread, as per Advfn or what is actually executed, as in mine). The lower "support" is apparently defined as 10p (there's a surprise!) in 2003 as well as in 2004. As most know, this is termed as a rectangular congestion area. The distance a price will run is measured by turning the whole rectangle perpendicular. The direction is obviously dependent on the side pierced first by the price. A re-placement of shares in size at 10p should give an indication of how strong a support exists at 10p in lines of GLA stock. Not something I personally would want to short. For GLA to run in the same pattern of success as AVM, OXS and POG would suggest in our study, it would appear to me that 15p (say 16p at intra-day level) would have to be broken on a closing basis. In other words, I believe our study suggests market participation in GLA will increase significantly when/if the 15/16p level is broken. I look forward to reading you or anyone else's comments etc on the above. T. Btw, thanks for your comments on OXS at post 429. That certainly appears to explain the relapse.
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