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GAL Galantas Gold Corporation

10.25
0.75 (7.89%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Galantas Gold Corporation LSE:GAL London Ordinary Share CA36315W3012 COM SHS NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.75 7.89% 10.25 9.50 11.00 10.25 9.50 9.50 5,664 15:03:32
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 0 -16.63M -0.1448 -1.24 20.67M

Galantas Gold Corporation Galantas Inks Commercial Blasting Arrangements (7682N)

03/02/2021 7:00am

UK Regulatory


Galantas Gold (LSE:GAL)
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TIDMGAL

RNS Number : 7682N

Galantas Gold Corporation

03 February 2021

GALANTAS GOLD CORPORATION

TSXV and AIM Stock Symbol - "GAL"

GALANTAS INKS COMMERCIAL BLASTING ARRANGEMENTS

Date : February 3, 2021. Galantas Gold Corporation (the "Company" or "Galantas"), the Northern Ireland gold producer and explorer, with a 100% interest in Northern Ireland's Omagh gold mine, is pleased to announce that a formal agreement regarding blasting has been reached between the Company's operating subsidiary and the Police Service of Northern Ireland (PSNI). The PSNI have responsibilities regarding the supervision of the use of blasting materials in Northern Ireland.

The agreement provides the potential for a materially improved economic arrangement for an expansion of underground blasting, required for full production, to take place at the Omagh Mine. The agreement has followed a comprehensive review by the PSNI and regulators.

Roland Phelps, (President & CEO, Galantas Gold Corporation), said, "The agreement is the result of detailed cooperation between Galantas & PSNI and I am pleased that the new arrangements, in which the Company has heavily invested, have been formalized in this way. The previous arrangements, under which the Company made around two kilometres of underground development, constrained the Company's ability to expand underground production. The new arrangements are designed to permit underground blasting to be expanded to achieve commercial production levels. The Company is actively working with third parties on the financing arrangements required to recommence and expand blasting underground."

Underground maintenance activities continue, as does the processing of low grade stockpile material. Health and Safety is a priority, with zero lost-time incidents since underground mining began. Routine environmental monitoring of the Company's operations continues to demonstrate compliance with regulatory consents.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries

Galantas Gold Corporation

Roland Phelps C.Eng - President & CEO

Email: info@galantas.com Website: www.galantas.com Telephone: +44 (0) 2882 241100

Grant Thornton UK LLP (Nomad)

Philip Secrett, Harrison Clarke, George Grainger:

Telephone: +44(0)20 7383 5100

Panmure Gordon & Co (AIM Broker & Corporate Adviser)

Nick Lovering, Hugh Rich:

Telephone: +44(0)20 7659 1234

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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(END) Dow Jones Newswires

February 03, 2021 02:00 ET (07:00 GMT)

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