Galantas Gold Share Discussion Threads

[troggy1969] 07/2/2013 19:45

Never a NIMBY, just telling the truth. J hope the place would work and offer jobs in the local area but I believe the area to look at next would be the Joshua pit. The cost to develop an underground operation would be huge and the capital required to establish a safe operational underground mine is beyond what GAL is currently capable of with the current management. Since Richard Crew left there are no qualified mining peope on site, the place is run by an accountant!!!

[bmw30csl] 06/2/2013 00:14

Wouldn't be surprised if that's true but story here has moved on to securing planning and funding for underground mining. If that happens yes there is dilution but the prize is big as test results have shown.

[bamboo2] 05/2/2013 14:11

troggy1969, I am almost certain you are one of, or are connected to, the handful of local nimbys.

Information I have taken at face value from a previous post has proved to be incorrect, so I can see no reason to believe you now.

[troggy1969] 01/2/2013 17:47

There's a rumour going round Omagh that the mine has only another month of production left. Back to an exploration company then!!!

[georgethefourth] 30/1/2013 18:04

Up 50% in canada. Surely just some small trade thats pushed it up and itll come back down...

Edit: looks like one buyer bought a total of 79,000 shares at 5,5.5 and 6c which has pushed the bid/ask to 5.5 - 6c. Strange trading. Probably a novice chasing the price and itll close back at 5c ish.

Still, theres only 109k available all the way up to 9.5c (although this is no doubt not accurate, as yesterday there was about 700k 'available' for the first time in weeks- no doubt to scare holders and encourage selling

[bamboo2] 25/1/2013 10:43

Re, Natural Heritages' problems interpreting the ES. Strategic planning have written back suggesting that all the information they require to make appropriate comment is within the ES and would they please get on with it.

[bamboo2] 17/1/2013 10:04

A late Consultation Response from Natural Heritage seems to leave gal between a rock and a hard place. This will delay things, but I still think we will get a positive outcome. A classic quote from their reply,

"It must be acknowledged that due to the specialist nature of the proposed development, NIEA does not currently hold the relevant expertise to make an adequately informed assessment of the environmental implication of the proposed works"

However. that doen't seem to stop them from saying,

"NIEA, Natural Heritage considers that there is insufficient information provided with the application to assess the importance of natural heritage interests"

So why is the state employing people without the relative experience?

[smelgys son] 10/1/2013 21:34

How is this still trading?

[bamboo2] 10/1/2013 20:52

Our decision is not far away, and I am now certain that we will have a positive outcome. Here is confirmation that Attwood will not tolerate the dragging of feet in Article 31 planning decisions...

from Tyrone Times,

Planning permission granted for £139 million joint services training college

Published on Wednesday 9 January 2013 10:31

PLANNING permission has been granted for a new world class training facility for Northern Ireland's Police, Prison and Fire and Rescue Services outside Cookstown.

Environment Minister Alex Attwood announced news that the Northern Ireland Community Safety College, based in Desertcreat, had been granted full planning approval.

The £139 million Joint Services Training College will provide new teaching, training and residential facilities together with associated car parking, access, landscaping and other ancillary site works.

The proposal also includes construction of a single wind turbine.

"The granting of full planning permission is an important step in the development of this significant project." Minister Alex Attwood said: "This is why a timely decision here was crucial."

"This application was submitted on 15 June 2012. Following detailed pre-application discussions with the chief consultees and the applicant on the main issues and the broad parameters of the layout and design, I am in a position to announce this decision today. "

The Minister said "significant progress" had been made in dealing with "all major planning applications" and this decision demonstrates the "benefits of the recent initiatives" introduced within his department.

[bamboo2] 10/1/2013 09:04

Chris Brown [kenglo] still has 25m warrants at 10c. These could raise some useful cash [$2.5m?] to pay off Roland, and help pay other extention costs. It would be dilutive though. Should this Qtr onwards should see a significant drop in running costs, due to reduced wage bill and machinery?

[bmw30csl] 10/1/2013 08:01

IF we get bank debt which is hard to believe it will have a load of warrants attached. I expect funding from an industry investor be that a fund, corporate or private person.

[bageo] 10/1/2013 07:09

R&J - the outstanding loan to Roland is now approx £1m not $5m. Reading the RNS a good amount of funding will come from a bank so not dilutive and any required share issue would easily be absorbed by the increase in value from moving to the significantly increased scale underground mine.

[bmw30csl] 10/1/2013 00:21

If you use that approach to investing you may as well jack it in now. Are you advising holders to sell up? Do you own shares? By saying the prize is big I am alluding to the fact that the low EV can handle dilution and still offer decent upside.

[richandjanet] 10/1/2013 00:07

Yes just like the prize was big 5 years ago whrn the share price was 12p

[bmw30csl] 09/1/2013 23:42

That is obvious isn't it? Funding will of course be dilutive but the prize seems big.

[richandjanet] 09/1/2013 22:50

No matter how good the drilling results are future funding can only come from more dilution for existing shareholders and at some point Roland will have to get back the $5ml he lent the company

[bamboo2] 09/1/2013 21:37

My reading of the latest letter [uploaded today] from stategic planning to the roads unit seems to indicate that the outstanding details on the transport plan have been answered. The planning process looks to be drawing to a close.

[bageo] 09/1/2013 17:15

Excellent drilling results and the lining up of funding sounds all very positive.

[ttnyrp] 08/1/2013 18:39

Progress on funding has been part of the news releases for at least the last 6 months so presumably well advanced. More excellent drilling results which Canada seems to like also, over 500k traded, currently 220k @ 4.5c (2.82p) v 77k @ 5.5c (3.45p)

[bamboo2] 08/1/2013 18:12

WRITZ, we can't expect current production and Roland to fund the complete mine development! There must be loads of things going on to which we shareholders are not privy. Good news on the recent grades.

[rambutan2] 08/1/2013 15:04

Well, punters might have given up on GAL but a certain big bank which knows Roland and the mine has not.

Mr. Phelps commented, "The latest excellent drilling results include the best result so far on Joshua Vein - possibly the best on the whole Galantas Northern Ireland gold license - so far. Further assays will be reported when received and are expected over the next 8-10 weeks."

[spaceparallax] 08/1/2013 14:43

That's what I call gold grades

[writz] 08/1/2013 14:39

More good drill results. Was anyone aware of the funding being lined up? "The majority of the program has targeted potential measured and indicated categories of resource, since active discussions with a major lender has shown that these categories are necessary to meet the lender's requirements."

[bamboo2] 03/1/2013 21:36

There looks to be a tentative date set for the expiry of the various consultations, 10 jan 2013. I think that an opinion will quite likely be at draft stage, however, a conclusive reply regarding some detail of transport issues seems to remain outstanding. I must admit to finding this planning application quite difficult to follow, although I am sure it is all in a days work for the administrators charged with overseeing the process. They will need to be double checking EVERYTHING!