Galantas Gold Corporation reported a net loss of US$1,173,276 for the third quarter of 2021, lower than Q2, for its gold mine at Cavanacaw in Omagh, Northern Ireland.
FINANCES
In its unaudited third quarter results ended 30 September 2021, the Canadian company said that the loss, compared with Q3 2020: $776,956, was mainly due to stock-based compensation and additional investor relations costs and marketing activities.
There was no sales revenue for Q3 2021 (Q3 2020: $nil).
Concentrate sales provisional revenues totalled $329,000 (Q3 2020: $690,000).
Galantas held a strong cash balance of $3,881,674 (Q3 2020: $638,433).
The working capital surplus amounted to $2,454,581 compared with a working capital deficit of $7,700,406 at June 30, 2020.