Galantas Gold Share Discussion Threads

[bageo] 20/2/2019 14:25

Troggy - direct costs per tonne of ore will be higher than the open pit but there won't be the waste movement costs in nearly the same way. The stripping ratio and need to move and store rock was the big problem for the open pit as you have said.

Cost per produced oz are predicted to be lower.

[troggy1969] 20/2/2019 11:16

2014 Resource estimate looks about right.
NPV 3.6 million with a IRR of 28%

[troggy1969] 20/2/2019 10:37

After looking at my posts and predictions from 2011/2012 the majority have turned out to be true!
From what I remember of the underground deposit, it's a very short strike length of around 150m between 2 faults in Kerney, Joshua was also short and of a lower grade.
Due to lower waste rock production underground there will be less of a issues with disposal in the existing Kerney pit. Also old stopes can be back filled with development rock once they have been mined out.
The big issues with underground is the costs will be higher than a simple open pit due to a number of mining factors, the significant one being ground support. Remember the whole of the surface was free dug without the need for blasting ... this will lead to challenges underground.

[bmw30csl] 20/2/2019 09:08

Anyone visited the mine recently?

[meanreverter] 19/2/2019 22:12

Buywell3 — Thanks for posting the chart. Unfortunately, it is fairly useless, because it's plotted on an arithmetic scale. If, instead, you plot it on a logarithmic scale, the turnaround since the bottom of 3p on 1 February 2015 looks pretty solid. Combine that with the progress made underground, in the sterling gold price, and in the law courts, and you have a more upbeat picture.

The 43-101-compliant update of 12 June 2013 showed measured, indicated, and inferred resource of 418 koz — see



Since then, further exploration suggests upside to this.

The economics were analysed in the ACA Howe International report of 10 August 2012, which is accessible on Sedar. The estimated cash-cost range was $500–600 per ounce at the then $/£ rate of 1.6. Allowing for some inflation, and at the current exchange rate, a cash cost of £550/oz looks reasonable (gold is now at £1027/oz).

Probably there will need to be a modest-scale round of dilutive fund-raising. I don't think this will be too much, given that the plant is already built.

[panagos] 19/2/2019 21:08

ps. Gold is flying and GBP is toast...perfect combo for Galantas.

[panagos] 19/2/2019 20:43

same numpty different alias...in the bin he goes too lol

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buywell3 - 17 Feb 2019 - 23:06:23 - 3062 of 3064 Patisserie Holdings Plc Ord 1p - CAKE
once again augustusgloop gets it right


augustusgloop11 Jan '19 - 11:13 - 2473 of 3061
0 1 1
That article just doesn't look right.

If they have the money now - how can it take 6 months to get the payments up to date?

They can't have that many large suppliers - so staff time should not be an issue.
An old invoice sitting on a desk - is either going to be paid or not paid - they are not going to be spending many hours now investigating if it was a false demand.

They must know that the old invoices are valid - if they have the money to pay - it would take minutes.

6 months from now is 9 months from identifying the problem.

Does this mean that the reality is that they don't have enough money (after the funds were raised) to pay the outstanding invoices.
Wouldn't that mean that they are insolvent - and should be wound up?

3 months on and shareholders are no better informed about the state of the Company than they were at the start.

[nobbygnome] 19/2/2019 20:14

Gold up more than 1% today and up more than 15% since the beginning of October. That rise has not been reflected in the share price here in any way....

[buywell3] 19/2/2019 19:59

Three simple questions need answering before buying this

1. How much cash have they got left

2. What are production costs expected to be per ounce

3. How big is the gold resource , the one that has been properly tested/confirmed , if it has.


At the moment nothing regarding the size of the gold resource seems concrete, hence I guess the reticence of big hitters to hit

This seems to be at the digging holes in the ground in Northern Ireland stage, which costs money and makes sweet FA

Another reason is this chart

[augustusgloop] 19/2/2019 18:49

They are getting to near the level where I may be tempted to make a small punt.

But it is a punt - there is insufficient information available to make a properly analysed valuation.

[panagos] 19/2/2019 16:53

Nibbled a few more today.

[augustusgloop] 13/2/2019 21:31

The simple point is:

Either tens of thousands of wealthy investors (and institutions) do not know about GAL - because their computers are not working.

Or they looked at Gal and decided not to buy at this price.

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Yes - good opportunities can be missed.
But what screams good opportunity here at this price?

Are they making massive profits that nobody has noticed?
Have they discovered a way of getting the gold out at very low cost?

In what way is their present position much better than their position 7 years ago?

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I would be grateful if any of you experts on Galantas could provide a breakdown of production forecasts along with expected profitability over the next two years.

Without such information - investing here is surely pure guesswork.

How much will they need to invest to reach full production?
What is full production?
What is their expected AISC?

[bageo] 13/2/2019 20:48

Bahamas
Flotation circuits are tuned to the grade of ore being processed. I doubt there is any need to dilute down to process, clearly if the economics are right then lower grade material maybe included.

Absolutely a vast amount of the waste will be used as backfill. I hadn't estimate volume myself. The volume of rock moved in an ug is far lower and hence no requirement to take waste off site. The open pit will continue to be backfilled as part of ongoing restoration – it is much smaller than it was.

[nobbygnome] 13/2/2019 20:30

I think he had backed himself into a corner and is now continuing the argument for argument’s sake.

Sad really as he had some half decent points but I think they can be dismissed relatively easily anyway.

[panagos] 13/2/2019 19:50

Got the numpty filtered but didnt he say a few posts ago thst Roland is a good man and he likes him?Bitter lemons? Agenda?In any case the thread go its official numpty.

[riskmanager1] 13/2/2019 19:46

Haha now Roland is a liar! You have no more valid arguments, just old memory... sorry for you that you could not make any money in your investment.

Poor you

[riskmanager1] 13/2/2019 19:31

So if i follow your stupid brain... how come not all the great investors put all their money in Osisko Mining? Probably one of the best project out there? How come?

Because the project is bad... hahah stupid

What about Semafo, why? B2gold?

Cmon

[augustusgloop] 13/2/2019 18:59

And there is a very good reason why junior gold miners find it hard to get money.

95% plus of those that did were run by liars and their investors LOST money.

[augustusgloop] 13/2/2019 18:56

So, let me get this right:

One investor out of tens of thousands of possible wealthy investors was willing to pay 5p a share, the rest didn't buy at all -- and that means that it is massively undervalued at 5.5p?

[panagos] 13/2/2019 18:09

Just hope GAL doesn't get snapped below 30p.

[riskmanager1] 13/2/2019 18:04

If Auguslub noticed Savary Gold get a LOI from Semafo for 10 cents per share. Around 25 millions for the property. Guess what Ross Beaty made a double on this one... hum interesting.

25Millions for a small property....

I guess Mr Beaty is not loosing money AGAIn.

More M&A to come and trust me Galantas will be part of the trend.

RM

[doobydave] 13/2/2019 17:27

Agreed - the financing environment for junior miners has been diabolical for several years (note Augustus, I didn't say exploration companies).

I can think of at least one precious metal miner that's had to raise capital (for acquisitions) at a discount and it's been a (growing) billion dollar company for some time.