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Either news is brewing or the value is up on the rising tide of gold and gold miners.
Either way, there could finally be an exit from this dross ahead.
Well today's RNS is again total b0||0cks. That's if you thought the previous showing a few rock hammers wasn't pathetic enough.
We're going to drill here here and here and show you pictures from 2003, back when there was actual work going on and real live people employed mining and exploring gold.
Mining.. That's a word isn't it. How's that going Stifano ?
You have to go back to 2009/10 to find a time when the place made money.
After the mining team left the wheels came off
7.25p is a new all time low, everyone invested in this is now underwater. Time for the board/majority shareholders to take action and sack Stifano, to be replaced by somebody who knows how to get a mine into production!
Do your own research, but as soon as this shows any liquidity I will be out of it and will put more cash into MTL. A much better story. I made a mistake investing in GAL, I never like investing in mining a company run by accountants. But I still bought. My mistake, I'll get out as soon as I can.
What's the betting his cousin is Scottish and now owns a few impact drivers, so he's registered as a drilling company.
Agree. It's just a rinse and repeat exploration company now, except there is no herd or liquidity. Even if Stifano just paid a load of rampers and set the rumour mill going about a takeover / JV or some other unlikely rubbish, at least that would be some sort of actual strategy. Better than his cousins and his mates with a van load of black&decker drills and spades doing "drilling" to up the resources by a few ounces for 200 grand a month.
One of the most annoying things whilst we wait for some kind of news that might cause a trading spike is the pathetic way they are making sure the the SP movement is always blue by buying tiny amounts of shares regularly at the top end of the price. Just look at todays trades. 180 shares at 9.5p valued at £17.50, and that was one of the larger trades !!
I don't believe Stifano ever intended to mine this asset. He was appointed to make a quick buck by selling the mine. Well it seems that went pear shaped. Also, what are they doing wasting money (that they don't have) buying land and drilling in Scotland?
Stifano needs to be fired to be replaced by a CEO who knows how to get this asset into full production. The man is a disaster, extra drilling means nothing when you have plenty of Gold available to mine already. Is this an exploration company or a miner? Somebody needs to decide quick before they go bust due to Stifano's inactivity.
What an absolute sh...|....t show this has become. No mining, just Stifano and his mates sniffing and snouting as much as they can out of the value of the company to its death.
It was only a few years ago that 12000 oz of gold a year was being produced, and the underground mine would have allowed the open pit mine to be covered over, processing off site and so the locals would have had the best of both worlds, employment and the end result of countryside being restored.
Now neither. Juts a death by dilution cash cow for Sprott and Stifano.
Not even a spike to get out.
Recent fund raiser (placement) could possibly be used to pay off the outstanding £120k fine they received from the court after the safety failures during the mine collapse in 2018.
Flintridge Resources Limited, which operate the Cavanacaw Mine in Omagh, pleaded guilty to the health and safety failings after workers at the mine narrowly avoided injury during the collapse four years ago.
More funding... For What exactly ?
Let me guess, Stifano and his mates are going to holiday on a yacht in the South Pacific for a few months, pay themselves a few million, and they will keep saying there is gold, but really they will not produce a single bar. No mining plan, with is pathetic, as a 50k a year feasibility study was already done years ago. Rinse repeat, issue shares spend the cash. Not even a trading spike for us to get out, no promotion, no liquidity and a constant falling share price. Pathetic.
Great results, not. $3m spent, on what apart from wages and shares, maybe some basic drilling. Well done Stifano, bet you fell good about fleecing shareholders so you and your Sprott buddies can enrich yourselves and produce nothing of value since you arrived. What progress exactly has been done since Roland handed you the keys of a producing mine and a 50k per year feasibility production plan ? You bought some fields in Scotland, and spent $13m on go only knows what, gaining nothing of value.
Come on Wheaton, put an offer in for Galantas. 40p a share would be in your capabilities..
At least get some shares, if we really are such a prospect, then of course you would..
https://www.miningweekly.com/article/wheaton-adds-south-african-pgms-stream-to-its-portfolio-2023-11-16
Wheaton to add South African PGMs, gold streams to its portfolio...
Wheaton International has also entered into a new precious metals purchase agreement for a gold stream in respect of Dalradian Gold’s Curraghinalt project, in Northern Ireland.
Stifano and Sprott seem to have taken GAL from half decent miner of 12k + ounces a year, to mining nothing, drilling nothing extra, but the company has become the means to issue shares, pay directors, probable kick backs on all that drilling for nothing, probable kickbacks on all those experts analysing nothing, a mining plan that might never be delivered and all the while new and weird means to attempt to boost the share price and liquidity.
Surely the market is not so stupid as to fall for this nonsense, I'm thinking of Pure Gold and Rambler and realise the market IS stupid enough to fall for this kind of nonsense, over and over again.
Let's just remember that before Stifano and co, GAL had a mining plan, that was a stage away from being a BFS, they had a shop that bought in cash, and they had processing on site to the tune 12000 plus ounces a year. they raised all the money necessary... But now of course in typical Pure Gold or Rambler fashion, not enough.
Rinse and Repeat.
I just hope there will be enough suckers to buy these shares to make some sort of spike up.
I wlll be out, at a loss but out and watch the rot set in slowly from afar.
The usual promise of loads of "Jam tomorrow". Slightly better drill results on the face of it, no pun intended, but until it's being mined or added 100k ounces to the measured resources, this will not add any real value to the company.
"The Company anticipates mining the high-grade dilation zones and has the goal of monthly production of 1,200 to 1,400 gold ounces....... the Company along with QME are scoping an expansion to the existing permitted mill to increase targeted annual production of 30,000 to 35,000 gold ounces per annum. "
Where does it say production is about to restart? It says the PLAN to restart is finished but gives no details of when or how much is going to be produced. Unfortunately another RNS with little substance.
One feels today`s RNS is your answer Gavster .
Production about to be restart , two years on .
At least the extra exploration , in the meantime ,adds to the companies future possibilities .
Outstanding
Hi bbr391
No idea where you're coming from. Stifano has taken GAL from one of the most honest companies with production of 12000 a year into a typical AIM miner where we see constant profit taking, including selling of issued shares, of those in the know against, sharp suited business tactics of pumping news attempts.
Sorry but the Cobalt thing is pathetic. We want gold, it's there, so get it out the ground instead of these hopeless attempts at stringing the market along with constant 'Jam tomorrow' news.
It does not take time, they have had over ten years to start the new mine. The mining plan has existed for years already.
Any spike generated I'll be out and suck up the loss.
It is completely inexcusable for a gold miner with so much production structure in place not to be mining right now with current gold prices.
More promising uplift ahead.
Outstanding
A sustainable mine plan is expected sometime in July, which will allow the company to continue development on the existing ore zones and to lower levels at the Kearney Vein, and also to access the Joshua Vein at the Omagh Mine.
According to the company, the mine plan intends to outline a staged production plan and estimate the initial production levels on the Kearney and Joshua Veins.
It all takes time
But in the end will be
Outstanding
More promising news .
Outstanding
Could be 44cents soon , now 30 has been broken .
Gold & Other stuff , some production wouldn`t go amiss ( One Day ).
Outstanding
Uptrend resumed .
Could be eventually worth well above today`s price.
If the Cobalt is there
Outstanding
A break of 29c would be great .
And oodles of cobalt also might help a change of direction.
Outstanding