Galantas Gold Share Discussion Threads

[moosh2] 30/5/2012 17:00

all those sells and no movement! i'm suspicious.

[ttnyrp] 30/5/2012 10:39

Re Kenglo - the loan was £1.25m (~2mCAD), the warrants outstanding (June/July) are ~4.5mCAD (45.5m at 10c).

Level 2 has actually strengthened slightly this morning (2 v 4 as opposed to 2 v 5).

[ttnyrp] 30/5/2012 10:38

I'm happy enough with the update to be honest. Looking briefly through the costs you have ~500kCAD on property/plant (presumably a fair chunk of this is the land parcel announced in January?), ~600kCAD on development and explo, so the money's being spent where you would want it to be.

I can't see any horrors in there, pretty much in line with expectations given what management have told us. Regarding the surplus rock, unless I missed it the results weren't very specific on dates but the MD&A notes "However, in order to comply with conditions attached to the permit, it will be mid-year before the transportation of surplus rock commences" - i.e. relatively soon in the grand scheme of things. Also "..Stripping of till from Kearney north in preparation for the mining of some higher grade ore commenced during the quarter" - ie I imagine things should begin to pick up fairly rapidly and profitably once the rock starts moving.

So far as I can see these are the planning applications currently in progress (unless anyone can see any more)









I see that the company is bending over backwards to get noise assessment reports done which have come back well within limits.

[georgethefourth] 30/5/2012 10:22

Bamboo - its my understanding that brown has already given us the money so there wont be any more coming from him. He got the warrants but gave us a loan at the same time. The loan is to be repaid when the warrants run out. (june and some in july iirc). If he excercises the warrants this money will be used to pay the loan off. If he doesnt excercise, shares will be issued to pay the loan off. thats my understanding anyway

Lots of sells going through and yet price holding up

[bamboo2] 30/5/2012 10:13

Hi George IV, We'll soon see if Chris Brown intends to take up his warrants. This would provide a welcome boost to the cash position and would take his holding to just short of 33%.

I also have wondered about his long term plan. It is frustrating that we have come to a halt on kearney, just above one of the real sweet spots. [going by my estimate of current mining position and info from Howe 2008] Could this be intentional? Saving the richest ore for later? I'd guess not, and think that CB's intentions are good.

Does anyone on the ground know of any progress regarding the passing bays?

[georgethefourth] 30/5/2012 09:08

Not much comment on the resultson here. (i assume fatso had something negative to say and ended it with "1p by the end of the year, at which point ill buy" - but ive got him on filter so no idea)

The fact weve, so far at least, held up on those says that GAL is being looked at more as an explorer these days which is good. The loss is a bit worrying, but with the rock removal issues it was never going to be otherwise. Its only a matter of time until the passing bays are put in, so that will increase production, and with reserve upgrades and the underground mining plan coming soon, plus added to at the end of the year, these should all be share price positive.mmy only concern is a funding one. It looks as though we'll need to raise money, again, for working capital until production increases and to build the passing bays (which we need to increase production) maybe kenglo should just put an offer in

[fatso] 30/5/2012 08:07

Paddies must be in shock, unable to comment.
So I will say it to myself as every brown nosed Phelps'es retriever
has me on filter: C$600K loss in first quarter, with the PoG being high,
what loss will they produce when PoG much lower now? And why I have more physical silver in my cabinets then the amount produced by GAL in 3 months? Why sudden slump in lead production? (Here the vicar of the CoE might be the pointer, the bloke I have seen on the telly. Having had the church lead roof stolen 7 times he went for the plastic one, unsaleable by malefactors).
The best would be to put GAL out of its misery: buy it out and lay the mine dormant until PoG $5K an tr oz. 2p a share buyout price.

[nat hart] 29/5/2012 15:16

ACA Howe now expected to report mid June.

[bamboo2] 29/5/2012 15:04

news- 1st Quarter Results

[nobbygnome] 29/5/2012 07:49

Strange there has been so little interest ahead of the resource report; trading has been very light in the last few weeks. There certainly appears to be no great expectation and so a good result should give a significant spur to the price.

The real question is what would be seen as a good amount of gold in the ground. Anyone care to speculate about what levels would be seen as good, bad or indifferent?

TIA

Nobby

[bamboo2] 28/5/2012 18:17

Hi Fordtin, The threads great, and the link to the 2008 Howe is easy to get around so no real problem.

There should be a new report to add later this week, assuming no delay to assay results.

Funny that 2088 is missing.

[bamboo2] 23/5/2012 15:02

hi fordtin, just been trying to look at old Howe report [2008] and have to report that the link in the header is no longer working. I have downloaded from another source.
Trades still look good today, but they don't seem to tally.

[moosh2] 23/5/2012 11:11

i have a golden rule - never accept a trade outside the going spread!!! but that's unlikely to happen given the amounts i buy/sell lol. well GAL said May for that report thingybub.

[georgethefourth] 23/5/2012 10:02

Bamboo - yes, and an hour latera trade goes through at 4.8. I dont have time to look into it but we can assume that this trades a sell, in which case the actual spread is 0.2p higher on ask and 0.3p higher on bid! Ive never seen that without the price ticking up. It looks like they dont want to move the price higher as that would attract attention. They must have an order to fill...

[bamboo2] 23/5/2012 08:27

someone's keen, that's 0.2p above the offer.

5393498631 5.2 95504 O 4.5 5.0 08:23:30 95,504

[spaceparallax] 18/5/2012 15:01

Given the neverending grief over certain of the euro-countries, gold shares must be due a serious hike soon as many flee conventional shares.

[georgethefourth] 17/5/2012 16:26

Maybe a little premature but looks like miners are on the turn now. If right, and money comes back into the sector, then our news at end of month could be well recieved (assuming its any good) leading to a decent move. Heres hoping anyway. Another 100k bought at full ask today and yet no rise. Wonder where theyre getting it from. They delayed reporting the trade from this morning too, does look like someones trying to accumulate quietly

[moosh2] 16/5/2012 18:51

buyers seem to only buy in size en masse when GAL gets overbought and share price whooshes up 20% in half an hour lol. actually, that's how it works in a lot of shares :D

[bamboo2] 16/5/2012 18:06

georgeiv, Well spotted. It's also going relatively well on tsx, given the recent poor performance of the index over there.

[georgethefourth] 16/5/2012 17:59

200k buy at full ask after the bell. Does look relatively strong here compared with the rest of the sector

[chipperfrd] 13/5/2012 11:25

Thanks for the replies guys!