Galantas Gold Corporation has agreed in principle with its former chief executive’s plans for solar power at the Cavanacaw gold mine in Omagh, County Tyrone. WIN-WIN Shareholder G&F Phelps Ltd, controlled by Roland Phelps, proposes to develop a two-megawatt facility with battery storage. Galantas expects the project to boost significantly power generation on site and […]
Tag: Galantas Gold Corporation
Galantas completes trial stoping at Cavanacaw
Galantas Gold Corporation said it had increased confidence in developing Cavanacaw gold mine after completing trial stoping at the site in Omagh, County Tyrone. OPTIMISATION The Canadian company successfully mined and backfilled six stopes using a narrow vein, modified Avoca longhole open stoping method, in two separate blocks. A planned minimum stope width of 2.2 […]
Galantas plans Kearney North surface drill
Galantas Gold Corporation plans to surface drill test the Kearney North target for a northern extension at Cavanacaw in Omagh, County Tyrone. POTENTIAL The Canadian company said that the deposit area had “well developed” sulphide rich, gold-bearing veins. “Geological modelling suggests that a concealed ore shoot may lie to the north of the site at […]
Galantas converts loans into 235,000 shares
Galantas Gold Corporation has converted US$60,000 debentures from late 2023 into 235,294 common shares issued at a price of $0.255 each. Following admission, the company will have $5,278,000 in debentures remaining in issue and 114,770,587 common shares.
Galantas issues 3m stock options
Galantas Gold Corporation has awarded 3,175,000 incentive stock options on the company’s common shares to its directors, employees and consultants. The options, which have an exercise price of C$0.23 and expire on 29 April 2029, were granted in accordance with the Canadian company’s incentive stock option plan and approved by the board on 23 April. One […]
Galantas Gold halves net losses
Galantas Gold Corp has halved its net losses while it still has to post a commercial revenue from the Cavanacaw mine in Omagh, County Tyrone. FINANCES Net loss for the year ended 2023 totalled approximately CA$8.6 million compared with $16.7m the previous year. The Canadian company recorded an impairment of $3.6m (2022: $10m) along with […]