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https://twitter.com/MinerDeck/status/1489626800997208069/photo/1
I note that the warrant conversion price is 32p recorded at 09.17 and that this corresponds with a sale of a nominal amount of shares at the same time. Is it normal practice to always set the price on a sale as opposed to the closing price on the day?
I guess Galantas didn't have a lot of options... but this deal is reckless to say the least.
• The Loan matures on July 31, 2022 (the "Maturity Date").
• The Loan will bear interest at an annual rate of 10% compounded monthly payable upon repayment of the Loan.
• US$20,000 structuring fee has been paid to Ocean.
• US$40,000 consulting fee will be paid to Ocean, to be invoiced separately by Ocean.
The Loan is payable six months from date of closing of the issue of the Loan (the "Closing") and will bear interest at an annual rate of 10% compounded monthly payable upon repayment of the Loan.
Further dilutuion.....
As consideration for providing the Loan, Ocean will receive upon closing of the Loan Agreement, 250,000 warrants of Galantas (the "Bonus Warrants"), subject to acceptance by the TSX Venture Exchange. Each Bonus Warrant will be exercisable into one common share of Galantas for a period of 12 months from the Closing at an exercise price equal to the closing price of the Company's common shares on the TSX Venture Exchange on January 24, 2022.
Lol some big fat salaries to be paid you know !!
No doubt, but the company has never spent like this in the 12 years I've been an investor. Are we to infer burning through $3m in a couple of months, when that placement cash was stated as all that the company needs.
I want to know on what the cash went on? In fact where has the proceeds of the current gold sales been going ?
There is no getting round the fact that the terms of this loan are shockingly poor.
10% which is $100,000 a year, plus 60k in fees, plus 250000 warrants at todays price is $75000.
That's the equivalent of $235000 in fees, 23.5% !
I would of preferred an agreement whereby they were paid in actual gold concentrate, we do not need more warrants weighing down the SP.
Anyway.. Bit of a rant there.
development and exploration. it was clear they'd need additional funds to reach production. we're lucky to have this support
Today's loan agreement. What exactly has / is the $3.8m in cash ( as of November) being spent on for GAL to require another loan ?
https://twitter.com/gold_galantas/status/1484596248099233794
It's a good interview but very 'Salesy' with the interviewer not asking tough questions, but being more of a fan.
I would have liked to see him tackle head on the problems with local protestors and nearby residents who have been a thorn in the side of Galantas for years, delaying production, processing, drilling, roads and the list goes on and on. As long term holders we know.
Also, Mario Stifano wasn't asked why his own holding is so low. 0.23%.
https://galantas.com/corporate/directors-holdings/
He'll have to discover a large amount of gold or get the production up to max to entice a spike or increase volume sufficiently.
At present the volume is no way near enough for profit taking by the insider share holders, and definitely not enough to allow profit taking on exercised warrants.
He mentioned 25m warrants, there's a list here on page 33, including "22 million “Units” at C$0.40 per Unit", (23.50p)
https://galantas.com/site/assets/files/7400/galantas-mda-q4-2020-final-28042021v2.pdf
With the average warrant price well below 30p, we could see some very bouncy SP movements, but confident 25p would be the floor. Expiry on the warrants is 24 months from the closing date of the placement, which is May 18, 2023.
Great news
Outstanding RNS
Excellent RNS.
Return to production ))
As anticipated .
Maybe the production will begin next year .
Outstanding
Great to be finally noticed !
Well, slightly noticed. Still only 8 trades today.
Come on Galantas!
Some momentum and a spike up to 60p would be well within future fundamental value.
A 60p SP would still only mean a Market Cap 45m, which would be what, 20,000 ounces a year priced in, which GAL could probably do now do with it's in house processing plant.
We caught the attention of Don Durrett of goldstockdata.com
https://twitter.com/DonDurrett/status/1479244290438008832?s=20
And we're still at 35p on TSX
At last the long second leg begins .
Outstanding Indeed.
lol, gal closed at 35p equivalent on tsx esterday.
Our breakout should resume tomorrow.
Long may It continue.
Outstanding
It`s all very slowly coming together .
Outstanding
Looking closely can just make it out....
https://youtu.be/uLahVJNnoZ4
https://mobile.twitter.com/Mario_Stifano/status/1395828979165061121
"The Company currently holds five exploration licences over an area of 548.9 km2."
As said exploration licences is vast.
Decent rise in Canada.
Already some great looking intercepts potentially stemming from (as posted 06/12/20 - "increased predictability due to understanding vein dilatance") them getting a better handle on dilatancy.
What proportion of viewers who actually fully understand all the detail discussed in this vid, I don't, I get the jist only but that means I can't fully independently verify so could be ..... . Recon some newly involved in gal are all over it tho and have plenty of advisors to which its their bread and butter.
https://youtu.be/Y0l7dNC5lq8
Then there's...
https://www.goldandinvestments.com/bank-of-england-provides-exemption-on-basel-iii-for-gold-trades-in-london/
Bottom line (simplistic view reiterated) for me is gold miner froth been wiped this year and bottom in for sector (?) (Ggp and omi bounces after nem, wpm breakout awaited), pog stayed high enough to be great for gal production and I think is heading much higher next year ready for commercial restart and increasing investor awareness of this little beaut, imo.
Added 5085 other day, seems well timed in hindsight.
AIMO ATB
some cracking results,on here,just lately
https://www.proactiveinvestors.co.uk/companies/news/969130/galantas-gold-reports-high-grade-intersection-from-latest-omagh-drilling-969130.html