Galantas Gold Corporation reported an increase in losses for its operations at Cavanacaw mine in Omagh, Northern Ireland. FINANCES In its financial results for the quarter ended 31 March 2022, the Canadian company’s losses amounted to CA$1,415,812 (2021: $639,963). General administrative expenses increased to $1,171,170 (2021: $505,097) while cash outflow from operating activities also rose […]
Tag: Galantas Gold Corporation
Galantas on course for production at Cavanacaw
Galantas Gold Corporation said it remained on course for production next month and reaffirmed the potential for higher widths of mineralisation at Cavanacaw mine in Omagh, Northern Ireland. RESULTS The Canadian company’s results from four holes of its 4,000m drill programme from the underground development at the Kearney vein include: – FR-DD-22-UG-183 intersected a new […]
Galantas grants incentive stock options
Galantas Gold Corporation has awarded 1,742,500 incentive stock options on the company’s common shares to directors, employees and consultants. GRANT The award is in accordance with the terms of the incentive stock option plan. Galantas said that the exercise price for the options, which expire on 3 May 2027, is C$0.60 per share. The board […]
Galantas losses increase at Cavanacaw gold mine
Galantas Gold Corporation reported an increase in losses as administrative costs doubled for its gold project at Cavanacaw in Omagh, Northern Ireland. FINANCES The Canadian company’s results for year ended 31 December 2021 show net loss of CA$5,284,431 (2020: $3,228,452). General administrative expenses were $4,332,865 (2020: $2,065,277). Cash outflow from operating activities before changes in non-cash […]
Galantas extends metals licences for Irish subsidiary
Galantas Gold Corporation has been granted additional licences to increase its base and precious metals prospecting area in Ireland. FLINTRIDGE RESOURCES The Canadian company’s local operating subsidiary Flintridge Resources Ltd has expanded its two areas in Co. Leitrim, increasing the total exploration land package by 47.8km2 to 159.4km2. In October 2021, the Minister for the Environment, […]
Galantas to recruit overseas miners to bridge skills gap
Galantas Gold Corporation said the Government had granted it a visa licence to recruit eligible overseas mine workers for its Cavanacaw gold mine in Omagh, Northern Ireland. LABOUR MARKET The Canadian company added it had faced a tight labour market for experienced underground miners, and had focused on hiring and training local trainee miners. Galantas […]