Galantas Gold Share Discussion Threads

[nobbygnome] 24/5/2016 09:50

I see someone just paid over 5.75p for 25k and there is no offer on the RSP yet there are 4 MMs sat on 5.5p offered! There is absolutely no stock available and they will take 100k off you at 5.2p. So there is an interesting stand off with the MMs certainly not wanting to sell you any amount at a reasonable price.

Hmmm I think I will increase my spreadbet position....

Nobby

[nobbygnome] 18/5/2016 09:38

There is absolutely no stock available. The MMs are bidding up for 100k at 5.1p (5.125 bid for 25k) on the RSP with no cheaper offer.

This could move very quickly with a relatively small amount of buying. I guess the improving gold price has something to do with this. With a stock market correction imminent I expect the gold price to rise further!

Just IMHO of course.

Nobby

[the big fella] 09/5/2016 17:01

Perky today?

[doobydave] 09/5/2016 09:24

Yes, most odd, isn't it - and a little concerning. I keep PMs and ADVFN in totally separate pockets of my life, and I have no inkling of any overlap whatsoever.

Thanks for posting Andy - salutary that I'm not alone.

[bahamasoil] 04/4/2016 08:30

Ross Beatty has just taken a declarable position in Condor

[doobydave] 03/3/2016 22:30

-> rambutan,

You are unique amongst the few ADVFN people I know in that you've turned up on my LinkedIn profile. I'm curious, because as far as I know our lives have no intersection whatsoever, other than glancing contact here. Any light to offer?

[doobydave] 03/3/2016 22:26

panagos, the market almost totally discounts resource and has done for a couple of years at least. Why should GAL be different? Show us the money... that means production at a profit.

[panagos] 03/3/2016 17:30

Ok gold is on the rise, we have the resource on the ground, am i missing sthg or its the market missimg sthg?Still at 4p?

[rambutan2] 16/2/2016 02:18

Of historical interest!

[rambutan2] 15/2/2016 02:12

A reminder:

Underground Mine Plan
In June 2015 the Minister of Environment, Northern Ireland granted planning consent for the underground
gold mine at the Omagh site. This planning consent will permit the continuation and expansion of gold
mining. The positive decision is the result of 3 years of examination of environmental and other factors
regarding the application. Included were environmental studies by NIEA (Northern Ireland Environment
Agency) and independent specialists. The consent includes operating and environmental conditions, which
the Company has reviewed. Some conditions require clarification but appear workable with some
modifications to operating and construction methodology. A number of conditions precedent to development
are required to be satisfied and the Company is carrying those out.

Subsequent to September 30, 2015
Galantas reported that they had been made aware of what purports to be pre-action correspondence from
an individual who intends to challenge, by judicial review, the actions of the Department of Environment
Northern Ireland (DOENI) in granting planning permission for underground mining beneath the existing open
pit. Galantas expect a judicial review, if brought to the High Court in Belfast, will support the planning
approval as granted.

[rambutan2] 12/2/2016 15:24

Surprise surprise!

Dalradian Resources (DALR/DNA-TSX)
The Ulster Herald reports that local politicians, including Sinn Fein and the Greens, will now “vigorously oppose” Dalradian’s plans for a gold processing plant at their large Curraghinalt gold project in Northern Ireland, owing to its proposed used of cyanide. A question has been put to the Minister of the Environment by the West Tyrone MLA and will be discussed in the Stormont assembly on Monday.

Cyanide is not an issue for Galantas Gold (GAL/GAL-TSX-V)*- Reiterated BUY, as although they have permission to use it, they don’t plan to do so.

This hurdle for Dalradian is potentially bad news for Minco (MIO) - Reiterated Buy, who holds a 2% royalty over Curraghinalt.

[panagos] 11/2/2016 17:35

Gold will be at 2000 within a year or too imo.

[panagos] 11/2/2016 16:09

Move, you know you want to..

[panagos] 11/2/2016 09:05

I thought the underground mine was a done deal!?

[doobydave] 08/2/2016 21:32

Not necessarily panagos!

The big cloud hanging over GAL is continued uncertainty over underground development (see the 'challenge' referenced in October's RNS). Has it actually materialised? Will there be a grand showdown in Belfast High Court sometime this year?

I suspect Roland doesn't know himself or he'd have RNS'd it. Obviously he's successfully adding blue sky with Ross Beatty's money, but in the absence of a writ I hope he's pressing on with with underground mining preps. I'd really like to hear more about this - radiosilence prevails.

Next financials are full year results - April if we follow last year's precedent. I hope we don't have to wait that long.

[panagos] 08/2/2016 20:50

Its got to move at some point isn't it?

[the count] 08/2/2016 14:29

--->ALL

Quite a good read for those who are still hanging on or who are thinking of joining the 'party'. Forgotten how to post links so hope this works....

[...]

[...] EDIT Link doesn't seem to be working.



Galantas Gold shows off upside at Omagh

05 Feb 2016
Just how much exploration upside is there on Galantas Gold’s (LON:GAL CVE:GAL) ground in County Tyrone, Northern Ireland?

The answers to that tantalising question will begin to be answered, at least partially, as the company’s ongoing drilling programme at its Omagh Gold Property continues.

Already, the signs are good.

Late in January, Galantas announced an intersection across a true width of 13 metres of 9.9 grams per tonne gold on the Joshua vein at Omagh.

That’s good grade, in anyone’s book.

But it’s the geological implications of the broader programme that are really beginning to quicken pulses.

Because in addition to the new hit at Joshua, the ongoing drilling has also uncovered a completely new vein, now dubbed “Kestrel.̶1;

The intersection is smaller, across just 0.7 metres of ore, but because the grade runs 35.8 grams per tonne, what it points to could be huge for Galantas.

“It definitely looks as though there is structural significance to this,” says chief executive Roland Phelps.

Quite what that significance is remains to be seen.

But the official announcement talks of another high grade intercept that was encountered 156 metres to the north of where the new vein has been identified, and speculates that the two structures may be connected.

The thinking is that the earlier hole might represent a northern extension of the new vein, although as Galantas makes very plain, “the distance between the cores is too far to extrapolate with any degree of certainty.”

More to the point, although the newly discovered vein is proof of the ongoing prospectivity of the area to the west of the Joshua vein, in itself it doesn’t entirely explain or account for the wealth of magnetic anomalies that Galantas has previously identified in the area.

“There may well be several structures over there that we haven’t yet discovered,” says Phelps.

And given that, it’s important that the company cracks on.

“We’re going to be doing work on the new vein,” says Phelps, “and doing drilling on Joshua.”

Demonstrating the ongoing upside at Omagh is important to Galantas because the in the background talks are continuing in regard to financing a restart at the old Omagh workings.

It’s not long since these were shut down, but now new permits have been secured and new economic modelling has been done.

The additional resources proved up by the ongoing drilling should slot nicely into that process.

“Our ideal is to increase the permitted resources that are available for the mine,” says Phelps.

“That’s been the focus of our efforts – the central proposition of Galantas Gold is that we are a near-term gold producer with a resource that is quite obviously growing. We think we’ve got a lot further to go in terms of adding new ounces.”

But how close is the funding for this proposed re-start?

It’s close, but not imminent, according to Phelps. Previous numbers that have been put into the market have now been re-worked, and given that the development cost is likely to be spread out over time, the company won’t need to raise all the capital it requires at once.

What’s more, it’s worth bearing in mind that because the old workings have left in place a mill, a tailings facility and the land itself, the capital required for new plant will be correspondingly reduced.

That in turn makes the internal rate of return numbers look highly attractive – they showed a return of over 70% on recent modelling.

And then there’s the effect of the ongoing weakness of sterling against the dollar.

After all, the sterling gold price has held up well over the past couple of years, and overall is down only by just over 5% over the past five years.

Which way it goes from here remains to be seen. But Phelps says Galantas will be comfortable with gold at least down to £700.

Given that the current price is £786, that allows for plenty of room for manoeuvre.



Regards,

THE COUNT!

[rivet] 08/2/2016 13:56

Sterling is weak. It's not like interest rates will be going up soon. Wait till we hit negative rates. Pet rock? lol

[panagos] 25/1/2016 12:05

For some reason, no one seems to buy this stock..no one wants to sell it either.