Galantas Gold Share Discussion Threads

[badday] 21/4/2012 09:34

Brokers note

[lufc5] 20/4/2012 16:47

Ahhh purist green gold....takes me back......lol

[bamboo2] 20/4/2012 16:16

Nat, thanks for the update. I guess the show will appear on you tube or minesite in due course.
Is the Charles Stanley note on-line?

I think that Courtenay and Roland should look at 'Galantas Green Gold' as a product for the use of craft jewellers [self employed designers and makers, such as those that exhibit at the Dazzle retail exhibitions] and investment gold coins and bars. Particularly now, since the Galantas jewellery range has taken a back seat. This fair trade green gold would also have very low gold miles attached!
The 10% that can be excluded from the falconbridge deal could be used for this purpose.

[georgethefourth] 20/4/2012 16:06

I thought cheading was just going to be employed for 3 months. Has this been extended? No complaints for me if thats the case, in fact id prefer it if he was - as long as there is a good story for him to tell with facts to back it up

[nat hart] 20/4/2012 13:59

Forgot to add that Courtenay Heading will be representing Galantas at the Master Investor exhibition in Islington tomorrow. If you would like to go and would like a free entry ticket I think you can get one by registering on the Minesite website.

To claim your free ticket



and fill in your details entering the voucher code "MINE".

[nat hart] 20/4/2012 11:13

A very professional performance from Roland. He always tells it the way it is with warts'nall and you can only respect his honesty and integrity.(One of the main reasons I've stuck it out for 8 years).

This time there was a message filled with much greater confidence for the future and it really came across that way. Good questions from the audience and talking to the Charles Stanley guys I get the feeling that they too are going to make a deal difference here.

Copies of their broker note disappeared before the presentation even started. Courtenay Heading is talking to their sales team today and the message he is delivering is full of impressive fact.

The message is 'The highest quality Green Gold' produced within the highest standards of environmentally friendly mining anywhere in the world today. Can't get better than that for me.

They are currently awaiting the environmental impact study on 'newts' as well as badgers and other wild life at the mine. It really makes you feel quite proud that everyone is so focussed on belaying the doubts and fears that are always associated with the unknown. In this case the unknown being the impact that an underground mine would have if planning permission is granted.

Roland said that he hoped that planning permission would be applied for within the next two months following the environmental impact study and that he hoped permission could be granted as early as to be within a six month period.

Altogether well worth my 4.30am start to be there even though there was nothing I didn't already know within the presentation.

Newspapers in Northern Ireland this week are full of positive talk of a 100 jobs being created if the underground mine does go ahead countered with the warning that compulsory redundancies will follow a failure to get permission.

I get the feeling that the team of Roland, Courtenay and Richard Crew together with our new broker is fully charged and about to achieve what I/we had always hoped for.

Summed up for me by the front page of Charles Stanley's publication which was headed.....

GALANTAS GOLD - Such Potential So Close To Home

AIMHO NAI DYOR

[bamboo2] 20/4/2012 09:25

Anything to report from minesite yesterday?

[troggy1969] 19/4/2012 13:34

The cost of development is one thing but I believe getting the operators will be a challenge. For the open pit it would have been easy to get machine drivers after the downturn in construction but underground miners and something of a rareity in Northern Ireland!!!

For an underground mine the roof support would be a major concern. All the positives of having loose free dig material in the open pit go against you underground. I would estimate development would be closer to 10 million.

[bahamasoil] 19/4/2012 11:30

R&J >>

If that figure is in the correct ballpark, then current income plus Kenglo taking up warrants may not lead to any immediate dilution?

Makes me think fatso is looking for a lower entry point.

[richandjanet] 19/4/2012 11:17

I would guess an underground mine would require at least £5ml of investment This is all about maximising reserves and getting the planning permissions in place and then selling the company before the really high risk part of trying to extract gold economically from an underground mine

Thake a look at what has happened to companies like NGL and VGM who have made production promises and failed Its a very high risk business

[bahamasoil] 19/4/2012 09:32

What are your estimates for underground infrastructure, fatso?

[nobbygnome] 19/4/2012 09:30

>> fatso

I think the plan is to firm up the amount of gold, get planning position for the underground mine ...... and then sell the company. This was discussed when we paid a visit to the mine in August. So I think you are wrong about the dilution because I don't think it will ever come to the point when GAL iself will actually develop the underground mine.

Nobby

[fatso] 19/4/2012 09:02

As I am the only punter here who has made money- having bought in at, say, 3.5p and sold out at 6, I can offer you this free advice: get out! S.p. is dropping
on the realisation that underground mining means heavy necessary investment in infrastructure and it has to come from outside. That means heavy dilution of the present shareholders.

[bamboo2] 19/4/2012 08:17

troggy1969, things have changed a great deal here over recent years. You can feel the difference since Chris Brown came on board.
In two or three years there will still be plenty of production, if not underground, the current freehold contains a number of potentially open pittable veins.

[troggy1969] 19/4/2012 05:03

Prospects are good but when. It will take 10 years on Galantas's track record to go from exploration to producing and the current reserve will be long gone by then. Galantas will be exploration company again within the next 2 - 3 years!

[nobular_bells] 18/4/2012 18:14

Artificle or otherwise - the price is lower now than it was 7 days ago! But the prospects here are very good.

[nat hart] 18/4/2012 16:44

n_bells ............... I don't believe the price is dropping. The mm's are looking for sellers not buyers and moving the price around to do so.

Max buy on line 30K at 5.72p - Sell up to 200K at 5.4p.

I would suggest, looking at yesterdays large trades, that a (large?) buy order is being filled but not yet completed and therefore not yet reported.

[nat hart] 18/4/2012 08:51

This from the Belfast Telegraph. Courtenay getting the message out there.

[ttnyrp] 18/4/2012 07:25

Underground gold mining would create 100 jobs

Thursday, 19 April 2012

An additional 100 jobs at Cavanacaw's gold mine, near Omagh, will be the outcome, if a planning application for operations to go underground gets the go-ahead.

Omagh Minerals, a fully-owned subsidiary of Galantas Gold Corporation, will submit their application in the next two months with hopes of the major jobs boost, if successful - but, on the other hand, should it fail further redundancies are the likely result.

The mine recently offered six employees voluntary redundancy, but fortunes could change if the planning application is given the green light.
The mine currently employs 50 people locally, with an annual wage bill of almost £1.2 million, and those behind the prospective move see it as a real opportunity to give industry in Tyrone a much-needed boost.
The decision to move underground, it is claimed, is both economically and environmentally guided, or as Courtenay Heading, investor relations consultant for Galantas, succinctly put it - 'It's green gold'.

Meanwhile, Dalradian Gold, the Canadian outfit which will today (Wednesday) launch an airborne survey of their Curraghinalt project have said that a mining operation near Gortin could bring as many as 200 jobs - when compared to similar projects elsewhere in the world.

Last week the company held a public meeting at Owenkillew Community Centre to address any queries over the aforementioned survey.
Helicopter

Residents will become accustomed to the sight of a helicopter carrying an electro-magnetic sensor, which will indicate where gold is most prominent.
About 30 locals attended the meeting and following a brief presentation they were given the opportunity to direct questions to the operations manager of Dalradian Gold, Damien Stephens.

"The helicopter will hover the sensor about 75 to 85 metres above the ground and cover an area of approximately 20 square kilometres. Weather permitting, we should be all finished in a fortnight and the environmental impact will be negligible," said Mr Stephens.

A spokesperson for Dalradian told The Tyrone Constitution: "We are still a long way from determining the final economics of a mining project at Curraghinalt, but if our studies return favourable results similar projects elsewhere in the world can employ upwards of 200 people directly and support indirect jobs (suppliers, housing etc). Operations of this scale can go on for over 10 years."

Meanwhile, Richard Crew, Omagh Minerals general manager, who boasts a mining CV that includes Brazil and Angola, explained that the shift from surface to underground (mining) at Cavanacaw could extend the mine's lifespan by up to 15 years.

"We have decided to make the move on the back of our analysis, the results have been positive and it makes both economic and environmental sense. If we are given the go-ahead we will potentially be giving the mine an extra 10 to 15 years life and that is hugely significant. We would see 100 more jobs across a range of disciplines and all will be based locally.

"In addition to the on-site jobs we will be extending our contracts with local suppliers, from fuel to plant hire we will be upping our orders and that can only be good news for Omagh," said Mr Crew.

Environmentally speaking, Mr Crew deemed the project as the 'bees knees' and stated that although people will inevitably object to the move, it is a much more 'green-friendly one'.

"It's the nature of the industry, wherever you are in the world mining there will be objections. We always set out to treat the concerns of the local residents with the respect they deserve. As for the change, you won't have the surface environmental impact and the rock pile - which for me is the biggest eyesore," he added.

Underground mining disasters have reached our television screens in recent times, but Mr Crew feels it would be unfair to compare operations here to those in developing countries.

"We have no fears, whatsoever, having worked in countries such as Peru and Angola I know at first hand their emphasis on health and safety - it's non-existent. But we have invested very heavily in that area and foresee no problems," said Mr Crew.

The transition from surface to underground (mining) will also necessitate rock blasting, something that would have been near impossible in the political climate of the 1980s and, indeed, what initially made the open cast mine an attractive venture.

The Cornish-born miner was keen to stress that the impact of the blasting would be minimal and that those living on the perimeter of the site would be largely unaware of the blasts.

Recent drilling samples recorded an average of 5.2 grammes per tonne (g/t) in the Kearney vein and the fact that gold is deemed commercially viable at 3 g/t it is understandable why Mr Heading quipped that "there is definitely a pot of gold at the end of the rainbow."

In addition to the positive results Galantas recorded in relation to channel sampling last week the company posted its financial results for the year ending December 2011 on Monday.

The results showed that production at the Omagh mine was above both 2010 and earlier years, with record output achieved during the second quarter.
They also show a net increase of 114.7% on 2010, which is attributed to an increase in production combined with the rising price of gold.

[moosh2] 17/4/2012 20:14

wasn't it 12p last year?! now it's 10p and they found more gold stuff. do they just pick a number out of a hat or somefing? i can do that.

[badday] 17/4/2012 19:54

New Brokers note out with 10p target

[the count] 17/4/2012 19:31

--->ALL

Interesting little radio interview.

Little GAL is slowly getting noticed.



Regards,

THE COUNT!

[troggy1969] 17/4/2012 15:59

I thought the BBC artical was negative. The area seems to un-populated and the land is poor for farming, a perfect place for a mine.

[moosh2] 17/4/2012 13:49

looks like we might get some wider interest at last! handy that the results were OK too ;)

OR, we'll end up with a load more 'protesters'. take your pick lol.