Galantas Gold Share Discussion Threads

[bamboo2] 27/8/2012 20:00

Hi george, I hardly bothered to look at the figures, as I was assuming bad news, but you're right, they're not too bad, under the circumstances.

I'll be happy if the local planning dept can prove me wrong and get on with the job in hand. The application is very thorough and looks great, I hope that Roland and the team get the oppertunity to bring the plan to fruition.

I'd love an update from the co on the progress of the entrance adit and the situation regarding passing bays.

[georgethefourth] 26/8/2012 16:26

Results better than i anticipated tbh. Revenues of 1.9mil compared to 1 mil in Q1. Upbeat about planning permissions (although thats not saying much since we know how long those types of decisions can drag on for, as bamboo2 says). Anyway, just got time for a quick read as im on holiday atm - any other holders have any opinions or is there just a handfulvof us left here?

[bamboo2] 24/8/2012 09:47

Hi ttnyrp, thanks for posting the info about the underground mine.

I don't think we'll get an imminent decision, because the local council will automatically wait for the DOE view. Councillors will then 'dilly dally' about and privately procrastinate about the safety of their seats at the next election, if they were to make a decision one way or the other. This will be followed by a number of defferals and finally the paperwork will be bundled up and sent to the NIE in Belfast for consideration by the appropriate minister.

[holkham] 22/8/2012 14:15

Hey GAL's get your act together

THIS IS NOT GOOD ENOUGH

[ttnyrp] 20/8/2012 13:33

The planning application for the underground mine is quite a read. Look hard enough and you can even find a diagram of the lifecycle of the stonefly.



Anyway, if you want to be spared the 250 pages of the full environmental statement plus appendices, have a look at the "Final Composite NTS", the non-technical summary under "Receipt" on the Associated Documents tab. I'm not an expert but I'd say overall there seem to be no showstoppers and in fact several benefits. Some mitigation here and there may be required but otherwise it looks very positive.

Another document attached (from Omagh District Council) indicates it will be discussed at the next planning meeting on 3rd September.

[nat hart] 20/8/2012 11:21

Following the smart money, you would be buying not selling at this moment. Price of gold may yet be the most important aspect in all this.


George Soros



In a harbinger of what may be coming our way in the Fall of 2012, billionaire financier George Soros has sold all of his equity positions in major financial stocks according to a 13-F report filed with the SEC for the quarter ending June 30, 2012.

Soros, who manages funds through various accounts in the US and the Cayman Islands, has reportedly unloaded over one million shares of stock in financial companies and banks that include Citigroup (420,000 shares), JP Morgan (701,400 shares) and Goldman Sachs (120,000 shares). The total value of the stock sales amounts to nearly $50 million.

What's equally as interesting as his sale of major financials is where Soros has shifted his money. At the same time he was selling bank stocks, he was acquiring some 884,000 shares (approx. $130 million) of Gold via the SPDR Gold Trust.

When a major global player with direct ties to the White House, Wall Street, and the banking system starts off-loading stocks and starts stacking gold, it suggests a very serious market move is set to happen.

While often lambasted for his calls to centralize global banking, increase government intervention in the economy and his support of what he has called an "emergence of the new world order," if there's anyone with an inside track of where things are headed next it's Soros.

Soros, who has written extensively of a coming global paradigm shift in his book The Crash of 2008 and What It Means, calling the current economic and political model "an end of an era," has recently suggested that the financial and economic situation across the world is so serious that Europe could soon descend into chaos and conflict. He also notes that the world is entering "one of the most dangerous periods in modern history", and foresees violent riots in America and a brutal clamp-down by the government that will dramatically curtail civil liberties.

This is an individual who not only predicted the collapse of 2008 and took action to insulate himself, he also proposed the various fixes that governments in Europe and the US would eventually implement in order to stave off a deflationary depression. In his aforementioned book he suggested that central banks infuse the system with massive amounts of monetary expansion, but also warned that not injecting enough money would simply extend the onset of deflation and printing too much could lead to hyperinflationary currency collapse.

Based on recent activity in Soros' US held accounts, it seems that governments and central banks have failed at those efforts to stabilize the system. As such, Soros is getting out of those companies which are most at risk should the financial system buckle like it did in 2008 and he's shifting his assets into what may be the only asset class left standing when it's all said and done.

[nat hart] 13/8/2012 10:04

I think we are all waiting for the latest poor results. Even fairly good news sends the share price down 30% Perhaps we should get Dalradian to write our RNS's or better still get them to buy GAL. Sadly why would they want to?

[georgethefourth] 13/8/2012 08:38

Quiet on here lately...

[topbidd] 02/8/2012 12:09

It keeps trying to go down and bouncing back, has a floor been set?

[bahamasoil] 30/7/2012 19:42

Would be good to feature on this list with Dalradian

[topbidd] 27/7/2012 18:43

Hey Bamboo,

I agree entirely about the premium Irish gold investment bar, but I think that premium Irish gold coins would sell even better.

[bamboo2] 27/7/2012 12:05

I think we all agreed, we were saved once by the rising price of gold, and I suspect that we will be again.

Nothing personal about cheading or other senior staff, but we need to see some evidence of good management. Lets see some cast iron reasons why our stock of jewellery can't be cleared at a good profit using some creative sales ideas.
And how about that premium irish gold investment bar?

Roland, how's it going on the passing bays? There are quite a few local road schemes and other building projects that would benefit from our spare country rock, if only we could get it to market.

[richandjanet] 26/7/2012 15:38

The company were at the last chance saloon They had been looking for funding for a long time and had no other options

What makes me laugh is that they still come out with rediculous claims such as that they will produce 50k ozs a year from an underground mine

[goldnoil] 26/7/2012 14:08

R&J,

You are absolutely right. One of the worst deals I have ever seen from a shareholder point of view. Gave away too much for too little.

What this company needed was a promoter to raise funds. Many smaller deals would have been better than risking giving away the company.

[richandjanet] 26/7/2012 13:54

The biggest worry for investors here is that Kenglo could get a controlling interest delist the company on the cheap and start again as a private conpany
Kenglo invested here beacause they could see a win win senario wichever way things went

[goldnoil] 26/7/2012 13:45

I am as frustrated as the rest here seem to be. In fact,to be honest I have sold some of my position in order to trade my way out of the hole I have created for myself here.

With Chris Brown deciding to hold on for another year, no doubt to see what news brings, there was no hope for this share to go anywhere but sideways/down over the near term. Maybe drilling news will give this a lift but with the extension of the warrants, financing now seems to be on the long finger.

The gold is no doubt in the ground and management is honest and careful with company funds but investors look for the bottom line and that has been elusive here. If the mill had been properly sized for the grade from the beginning we might have had a chance to show enough on the bottom line for a couple quarters to enable a non dilutive financing but that did not come about. The deal with Chris Brown was real sweet for him and him alone.

What I said previously about the real market for the Jewelery being stateside can also be said about the shares. If properly packaged there could have been plenty of interest stateside amongst the American Irish for a slice of this company. Once Cheading was hired as investor relations officer I gave up any hope for this being sold as an Irish story. Nothing personal against Cheading but that position should have been filled by a promoter with roots in Ireland.

Our technical problems could have been overcome sooner with the right financing but that would have taken keen promotion and that is something we have not had.

I am now holding on to my balance in hopes that the planning bureaucracy will shift and the drills can prove up in excess of 1 million ounces.

[topbidd] 26/7/2012 12:38

It would appear that investors certainly do not find GAL attractive, but;

Is it really limited to only Dalradian finding the GAL resource an attractive proposition?

[richandjanet] 26/7/2012 12:31

Totally agree Nat I just want to get out of this excuse for a gold mining company The only hope we have is that Dalradian will find it attractive to buy a company with a mine that is producing a few ounces of gold a month

[bahamasoil] 26/7/2012 10:21

Had to be bullish to cover the process "cyanidation"

[topbidd] 26/7/2012 09:38

Was the TSX strict rules ever used as an excuse not to release optimistic or positive RNS's?

Dalradian is listed there & it doesn't stop them!!!

[nat hart] 26/7/2012 09:28

Meanwhile back at the farm according to ttnyrp, Roland is still 'hoping' things will get better.

Have you ever heard Roland describe anything we have done as 'a resounding success'?

Makes you wonder why we still have a market cap of just £9.3 million..... or does it?

Compare this report to the miserable negative apology of a thing we got last month. I'm bored with this now. Roland needs to make something happen or turn it over to people like Dalradian who will.

If we're really lucky they will buy out Galantas. Where do I sign? Rant over.

[topbidd] 26/7/2012 09:24

Is the last sentence in the last paragraph describing Galantas?

[bamboo2] 26/7/2012 08:43

Roland, the race is on. You have a head start.

Irish gold: PEA positively promising for Dalradian's Curraghinalt project

Dalradian Resources has announced the findings of a Preliminary Economic Assessment on its Curraghinalt deposit in Northern Ireland which its CEO describes as a 'resounding success'.





Author: Lawrence Williams
Posted: Wednesday , 25 Jul 2012

LONDON (Mineweb) -

One would have thought that countries like Northern Ireland and the Irish Republic - and Scotland too - would not be particularly promising places to find, and build, a modern day gold mine, but Scotgold, Conroy Gold, Galantas Gold and Dalradian Resources would all disagree.

The latest of these to come up with a Preliminary Economic Assessment (PEA) is TSX listed Dalradian Resources (ticker: DNA), with regard to its Curraghinalt deposit which it describes as a high-grade mesothermal gold system located in County Tyrone, to the north of Omagh. It hosts an NI 43-101 compliant Measured mineral resource of 0.02 million tonnes grading 21.51 g/t gold for 10,000 contained ounces, an Indicated resource of 1.11 million tonnes grading 12.84 g/t gold for 460,000 contained ounces and an Inferred resource of 5.45 million tonnes grading 12.74 g/t gold for 2,230,000 contained ounces

The Curraghinalt property contains at least seven primary gold-bearing veins, ranging in width from 0.5 to 3.0 metres. It remains open along strike and down dip. Regional geochemical, mapping and sampling work suggests additional veins may exist peripheral to the resource and outside the main zone.

The latest PEA, led by Micon International of Toronto together with other independent consultants, came up with:

· Pre-tax Internal Rate of Return ("IRR") of 51.7% (after-tax 41.9%) based on a 36-month trailing average gold price of $1,378 per ounce (after-tax IRR of 31.8% based on $1,200 gold price);

· Project payback of 2 years from first gold production;

· After-tax Net Present Value ("NPV") of $467 million based on a 8% discount rate and a realized gold price of $1,378 per ounce ($655 million using a 5% discount rate);

· Initial capital expenditures of approximately $192 million prior to production start-up (including contingencies of $36.9 million), with sustaining capital of $110 million for a total Life of Mine ("LOM") capital spend of $302 million;

· A 15 year mine life with average LOM cash operating costs of US$532 per ounce, or $125 per tonne milled, including royalties, refining costs and by-product credits of $8.24/oz gold;

· LOM gold production of 2.223 million ounces;

· Average mined grade of 8.1 g/t gold. Processing at a rate of 1,700 tonnes per day and producing approximately 145,000 ounces gold per year using a conventional flowsheet of crushing, grinding, cyanidation and conventional tailings disposal;

· Underground mining using mechanized longhole methods with ramp access and truck haulage;

-- The proposed mine plan takes into account some 89% of the November 2011 Micon resource estimate, of which 83% is inferred.

Dalradian's Chairman and CEO, Patrick F. N. Anderson says, "Our first economic study on this portion of the Curraghinalt deposit has been a resounding success. Our next steps are to: better understand the existing resource, prove, through drilling, that the system has a lot of room to grow and move ahead with planning and permitting for underground development. We have people and drills on the ground right now working towards these goals."

Obviously there is still a long way to go before a mine can be built and much more drilling will need to be undertaken to bring a good proportion of the inferred resource into the measured and indicated categories before it would be sensible to proceed to a final development decision, but the results of the PEA are perhaps more than just encouraging.

The Dalradian PEA follows close behind a PEA from Galantas Gold regarding its smaller, and shorter life, project, a little to the west of Omagh, at the beginning of this month which was also promising.

Meanwhile Conroy Gold continues to explore for gold on both sides of the border with the Irish Republic and has delineated a resource of just over 1 million ounces of gold (Indicated 440,000 ounces with average grades of 1.24 g/t gold, Inferred 590,000 ounces at 1.32 g/t gold) has been delineated at Clontibret in County Monaghan in the Irish Republic (on only 20% of the target area) while it has also outlined a potentially even bigger, and higher grade, target at Clay Lake in County Armagh on the same geological system and only around 5km northeast of Clontibret on the other side of the border.

Thus this part of Ireland is becoming a bit of a hotspot for gold projects and both the Irish republic and Northern Irish governments are, on the face of things, supportive of mining. Infrastructure and access to power is good for all these projects. It is early days yet, but we could well see a reasonably significant Irish, or Northern Irish, gold mine before the end of the decade.