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Come on Stifano, we've heard about nothing but problems and delays for 10 years.
What's happened to the jewelry sales ?
Gold was promised in June. Where is it ?
Gold is at its highest sustained price range ever.
We're now at the moment of there should be no more half-year losses.
Starting to move after GV points out 10 bagger potential and that he’s ‘balls deep’ in Galantis! Bought more at these sale prices
Additionally, important news from today's RNS:
"The Company has successfully commissioned the secondary egress and has now commenced blasting of our first stope at Omagh".
Anyone any opinion on the loan terms?
12% and 125,000 warrants feels like it’s at the high end of cost of capital to me.
Unbelievable. How can MMs get away with an 8.5% drop on sales of £3k? Criminal
Really hoping this has now bottomed out having bought in a couple of days ago.
Are they anticipating a wave of publicity and the hoard arriving once gold flows once again this month..
These warrants expire in 2023 so someone is taking them all up a year early, good news indeed if they are first come first serve.
Also.. If all the warrants are being taken up by Eric Sprott, taking the new 20% of the total holding, then will this could lead to them having to make a mandatory takeover offer for the company if they'll own over 30%.
We'll also receive a healthy £4.5m which should see the mining expanded to good levels of intended ounces.
Now for the directors (Stifanio has already lead the way with his buy today) to take up their stock options.
https://www.lse.co.uk/rns/GAL/stock-options-td1s98abu1jo5a2.html
This is all good.
Cheers all and GL.
17.3m warrants left at CAN$0.40 (around 26p).
Issued shares 83.5m. Stock Options 4.4m
If all taken up we'll have around 105m shares, and no doubt more than 10m or more of these will be sold for quick profit as production ramps up.
Can 40k ounces per year be achieved ?
If so with a rough estimated MC compared to peers of £90m means a potential SP of 85p.
20k Ounces means over 40p.
We'll see.
0.53 CAD is £0.33. Low volume in here but this is moving in the right direction coming from oversold.
A decent directors buy and seal of approval for the upcoming production.
Bought back today with the cash gained from my sale at 39p.
Production is round the corner and I like the way the new CEO is looking to increase resources and formations to mine with the drilling. I'd still like to see all the sales to the penny in the accounts so we know exactly the financial positions. Cheers and GL
Agreed, minor delays to be expected. The gold isn’t going anywhere so just sit tight.
Positive news re engineering plans to improve 2023 production, I like the forward thinking.
Expect SP to drift down for a few weeks now anyway.
6 weeks delay is fine since already waiting 10 years !!
https://www.ii.co.uk/news/corporate-update-rnsLSE20220427070011_4349821
The Company has delayed completion of the secondary egress and installation of the manway, which is a prerequisite for the start of production, to mid-May 2022 to enable safe rehabilitation of the ramp access and ore headings at the 1048 level. The Company has now resolved these geotechnical matters and hired an experienced contract driller to assist with the start-up of production, and expects to recommence development drilling and blasting in the first half of May. The Company now expects to begin production stoping mid to late June.
Mario Stifano, CEO of Galantas, commented: "Our team has made significant progress to recommence production at Galantas. The decision to delay the completion of the secondary egress prior to commencement of production by approximately six weeks is part of our commitment to best mining and operational practices for the long-term success of the Omagh Project and mining in Northern Ireland. Initial production is expected at 4,500 to 5,500 ounces for the balance of the year from mine sequencing and production commencement during the month of June. The Company is working with experienced mining contractor QME to develop engineering plans to accelerate development to the Joshua Vein by 12 months, which will enable Galantas to mine from multiple headings and veins to provide greater operational flexibility with an expected positive impact on 2023 production while also providing drilling platforms to drill both Joshua and Kearney veins from underground."
https://www.share-talk.com/traders-cafe-with-zak-mir-bulletin-board-heroes-friday-25th-march-2022-via-vox-markets/#gs.ul4fcw
Technical analisys from Share Talk.
Well someone really wants some shares.
I top sliced part of my holding due to being overweight at 39.2001 (5651 shares) which was the highest price shown in the trades today as I write ! Result of a hopeful limit order I left ongoing whilst I did some gardening. I've got a large holding at an OK average now, so let's see what this is all about. Cheers all & GL.
Somethings up today, but no demand. Can't get a quote to sell even £500.