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Sorry gents, that was a poor attempt at humour on my part! As you were.
One that you missed ? It's just a share consoildation, the sp hasn't actually risen !
Yet another one I missed ?? just my luck.
What massive profits? It's a share consolidation - see last RNS
"The Consolidation will become effective at close of business on 16 April 2020. Application will be made for 32,322,622 common shares to be admitted to trading on AIM. Dealings in the new common shares are expected to commence on or around 08:00 (UK time) on 17 April 2020, with CREST holdings updated the same morning."
Might be worth a punt at zenith energy with your massive profits :)
Gla
Now is the time to buy.
Best of
Hopefully a change of trend is ahead.
Best of
Well it does show that the company did not have the necessary protocols in place to begin with, which is far from what we thought. However, no point looking back only forward and this is the first piece of positive news for a long time. Whether we go it alone, have a JV or sell outright the blasting was the critical point.
I am not sure there is a need for a fire sale, with gold at a good price, Roland holding a large chunk of shares and very little liquidity required to get this going then in theory a fire sale is not required. The downside of course is the market cap but it would be difficult to accumulate sufficient shares to take a controlling stake at the disadvantage of existing shareholders. Sure they could buy out Ross Beaty but that does not affect us and would mean the company doing it would need to invest in Galantas to sure it up.
For the first time in a while there is a glimmer of hope and I remain cautiously optimistic.
It's a badly worded press release, again.
Surely if the blasting is allowed then the fire sale of the company would no longer happen ? That's surely the position that must be pushed in order to get the best price anyway. I'll have to email the company to clarify.
"Blasting : Confirmation has been received from the Police Service of Northern Ireland (PSNI) in regard to satisfaction of certain secure storage and handling protocols required for an increase in blasting to a commercial level. Some other issues, regarding financial matters, are being progressed and the Company is endeavoring to achieve an acceptable resolution in co-operation with PSNI at the earliest date. "
Sounds like a fire sale could be the next relevant news. Probably for the best if it happens. Blasting resumption looking possible in principle if and when covid restrictions lifted.
Yes have to agree 100%... the tide has been well and truly missed on this occasion. And when the boat is ready to float again, the tide will be 3 miles out.....
Gold at an all time high. GAL at an all time low. Cheers Mr Phelps.
It would appear that GAL have been conducting some prospecting operations in neighbouring County Donegal (ROI) over the last week, but they have fallen out of favour with the locals there too. It is reported that their workers have been entering private land and removing soil samples without the permission of the landowners.
While they may have a prospecting licence, permission from the landowner is required before entering the land and removing samples.
So much for the plan B...
I used to own 1% of the company until they diluted the crap out of us. This is just my opinion. Not for advice. I broke my number one rule. Never get emotionally attached to the company. Yet I did. Once I saw RB not participate in any more PP's , it raised an eyebrow for me. I questioned Roland on it and he said he couldn't comment on it. I figured Miton came on board so it was ok. I still don't know what it's costing us to to get the gold out. I find the PR's lacking detail. Nevertheless I took a 100k (More than that most likely) hit on this and sold 95% of my holdings at these low prices. The reason for this is the following:
1) I lost faith in management.
2) After the reverse split they will need to raise funds and they will dilute me further (My opinion) and most likely the price will drift lower (I hope I am wrong but I have experienced it before)
3) I still don't know what it is costing us to get the gold out
4) Still waiting for guidance from Roland (Roland says keeps waiting until they commercialize)
I learned my lesson. I still have a few shares left (100k) and I would like to see it succeed. I took the money and invested in others and (Call it some good luck) recovered 30% of my losses. Best decision I made. I blame myself for my losses and not the company. I control my own destiny. If the stock price had gone up I would be singing a different song.
I appreciate all you posts here. Some wonderful insights. I still like the company but I won't be putting more money into it. Let's see if Roland steers this ship into calm waters. I want to see it succeed.
I think you have answered my question then LK - not invested and part of the anti-mining brigade.
Nothing else needs to be added !
Total trader... Sure didn't the Titanic also scrape along the iceberg, tore the hull open and led to the inevitable disaster? Wasn't that the root cause? I guess you'd look for further positivity in that story too, perhaps in that the ship's swimming pool still holds water after 108 years on the seabed.
Indeed perhaps an apt metaphor for GAL at present.
The PSNI issue is indeed a ‘hurdle’, but in the true sense of the word- an impenetrable barrier, not the kind of thing that the ‘Galantas’ athlete gracefully and effortlessly passes over over on the track of gold production.
Certainly you can find a method of posting pictures, it’s the 21st century after all, and there are many methods out there at your disposal. I’m sure everyone on here would be grateful to see them. Even better why not send them to Galantas, and ask them to publish them on their website? Or can they even take their own photos. I know a few locals there who would be very eager to assist if necessary.
How could the news of the PSNI come as a shock? This is not the first time they have suspended operations at Galantas… and with the ongoing withholding of the Dalradian invoice? Dalradian are currently engaged in their ‘Tyrone fund’ programme, issuing money to local charities and groups- but further rubbing salt in the wounds of local tax payers, and the PSNI.
LK - well I did post quite a long reply to you but LSE went down before it appeared - so here is the abbreviated version ! Your analogy of the Titanic is interesting but unlike the Titanic Galantas has merely scrapped the iceburg. Sure it faces challenges ahead but and it's course is now longer and different but ultimately it will reach its destination. Where there is value and profit, it will materialise and the issues with PSNI will be nothing more than another hurdle in the path.
I wish we could post pictures on here since then I could send a photo of most likely the vein that you have looked at. Of course it is grey/black in nature - at 4g/T gold most of the material is rock but the quartz structure of the vein is visible. The mine manager is very competent so I am not sure what your point is - unless you believe that the gold does not exist, the reports are falsified and it is all fantasy?
May I ask your position here? You have some valid points and are clearly a knowledgeable person and yet in earlier posts you referred to investors as fools who wish to lose their money. Are you invested here? If not then posting on boards where you have no investment usually means that you have an agenda that differs from the interests of shareholders.
You are entitled to your views of course.
At the end of the day all investors are not happy with Galantas. Yes the Mgt could have been better and the communication / PR has been shocking. I think the issue with PSNI came as a bit of a surprise although again maybe better Mgt could have foretold issues. However, we are where we are and whether this takes 6 months to get resolved or 3 years in my view it will get resolved. Hopefully costs remain low so dilution remains minimal and then we can all make a return on our investment.
Totaltrader: Re: "I put the chances at 95/5 within GAL's favour, the only real questions are how long will it take to get PSNI approval and what do you do in the meantime".... I see where you're coming from there, but the PSNI question is quite a fundamental issue and should be considered in you're "95/5" estimation.. Isn't that a bit like saying the maiden voyage of the Titanic was successful, apart from the 'Iceberg' incident?
Also- "you've seen gold in the faces" at Cavanacaw? Really? I've been there also and have been shown the ore at the face and after the concentration process... guided by the mine manager no less (and he should know what he's doing- or maybe that's the issue)... Well it seems they're targeting a dark grey band of material, a stratified layer running along the site. Maybe you need to get back there and put them right?
Well Gavster some good questions and for LK505 - yes to all. I have emailed RP, I have spoken to him and I have visited all levels within the mine, seen the gold in the faces and seen the mill in operation. I have also contacted PSNI - not much response there but alas for them they have to respond adequately.
I put the chances at 95/5 within GAL's favour, the only real questions are how long will it take to get PSNI approval and what do you do in the meantime - mothball the site, continue with a reduced workforce (there is still underground drilling to be done to expand the resource), partner / sell to others with deeper pockets / more political influence.
But Gavster, I certainly agree with you that the PR has been shocking.
Personally I think 50/50 is on the generous side there... Yes there is a reason why the GAL team are not flaunting their wares, and showing off like DAL who have only a small exploratory adit.... Why do you think that GAL are not marketing tunnel tours to the public, why are they not 'sharing' images of the mine online and in social media.... No positivity there at all as far as I can see, and there certainly 'isn't smoke without a fire'.
Why not go direct to the horse and ask Phleps himself? Ask him is this a fantasy, or will there be any realistic possibility of this ever happening? Email address is info@galantas.com , or even better give him a call at- +44 (0) 28 8224 1100
I have to say your idea of GAL paying the DAL bill is one of the craziest things I've heard online, but perhaps Phleps should put some pressure on Patrick Anderson at DAL to sort out the mess on his doorstep... You are 100% right in that nothing will come of this until the bill is paid and resourcing is sorted.
That is really the only question currently as a shareholder.
Is it 50/50 that this can grind back into action ?
Will My Phelps finally start to realize that positive market updates garners the share price ?
It's rather pathetic that the best footage of the mines recently has been posted by a campaigner group who's mission is to rid NI of mines ?
An assurance to the market that's he currently not taking a salary to counter the recent protest campaigning ?
A similar local charity and good causes ?
Such is the losses of delay to both company, workforce, shareholders, and the fact that £400 represents 333 ounces of gold, It's even coming to a point where it would be worth GAL paying the DAL bill for them !!
Come on Roland. Do something other than inactions and feeble updates which have bring bought the SP to poultry levels !
Companies generally boost the SP with plans, updates and positivity then issue shares, not drive it into the ground first.
Grrrrrr.... Galantas.
you're 100% right there dan.... but the ironic thing about the whole episode with DAL is that they're giving away money in a social scheme called the 'tyrone fund' to local charities, schools, groups, etc... to encourage support. they claim that they've given away something like £525k, which could easily have covered their explosives bill.... instead they decided to withhold payment and they could be court action to recover it.... the stage has surely been tarnished with this act, and undoubtedly the cost will need to be recovered eventually, like it or not- GAL will feel the effects of this to their detriment, as will all other subsequent mining companies that will require blasting cover.
I have spoken to a good friend who is familiar with the region and he informed me its not the council who is the stumbling block, any explosive agreement will have to come from the NI office and the head of the Police service. This region isn't known for the speed at which it passing new legislation so it may be await he informs me. This all seems to be coming from the fallout of the unpaid security bill from $DAL gold. The GAL issue wont be solved without first deal with the DAL issue. too much red tape.
I wonder are management still drawing their wages while this comedy is going on ?????answere MOST DEFINITELY !!
I would have to agree with Gavster-NBC, it is only stopping some of the rot, taking in to account the gold produced to the bulk ore processed it is and gold market value they have raised just under £600K. considering current talk coming from the company and its operations that value wont hold of the rot for long. It must also be considered the <£600K doesn't account for operational costs, transport and smelter costs. But it is encouraging they appointed a consultant to advise on future operations as to date management has mismanaged this project. Here is hoping they can turn this venture around and SOON.