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Started: LiqMyAce, 15 May 2024 17:02
Last post: Gavster-NBC, 11 Jun 2024 15:57
Finally Sold out of this dross. Last two trades today. Good luck to anyone holding, I hope there is a spike for you to get out. As an investment, there is no case to invest just a gamble as a low price potential gold mine. Sprott is the biggest red flag. They made a fortune out of Pure Gold, and obviously the mine went on to produce sweet FA. The same could happen here... Stifano has his snout firmly in the trough. All IMO
Hi Gavster
I sold 250,000 shares total, trades:
35k @ 11.17
4k @ 11
211k @9.6
I did a fill or kill order for the 211k @ 10 which was rejected, broker came back with a quote @ 9.6 which I accepted.
To be honest I was surprised to be able to unload my entire holding in 3 trades!
Good luck, I moved the cash into MTL which is a much better story that is now debt free and delivering a strong cashflow.
Hi LiqMyAce
Well done TBH. Was that you who smashed the price by 2 pence the day you announce your sale ? Hope you don't mind me asking. Did you sell all at once with an order / limit sale ? It's very difficult to get instant quotes. I managed to sell £1000 recently but last week I could only get an instant quote for £200 worth of shares.
I still have money in this dog and like you I put my hands up this investing mistake.
I've been invested for about 12 to 14 years since Phelps was in charge and producing gold, and now lost quite a bit, but fortunately my larger winning investments elsewhere can more than make up for this loss. I was almost even at one stage too.
Such a shame Stifano has turned out to be nothing more than a con man IMO, especially when GAL practically had a finished mining plan left by Phelps. But then the word Sprott was the giant red flag, all those insider share issues, trades and deals. Just look what happened to Pure Gold as the warning.
Anyway... Good luck with your investments.
Happy to admit I should not have bought into Galantas, my research was flawed, I believed Stifano when he said he had raised the cash to get this into full production in 2022. He lied, here we are in 2024 and he's not even talking about production. With him in charge this company is bound to fail. I took a 40% haircut to learn a lesson. But I'm now very happy to be out. The debt burden will kill them soon enough with no production.
Started: LiqMyAce, 13 May 2024 14:56
Last post: Englebert, 13 May 2024 19:30
The recent performance of Galantas has been nothing short of abysmal. Despite continuous promises that paradise is just beyond the horizon, investors have been consistently let down by underwhelming results and a seemingly endless stream of broken commitments. Adding insult to injury, there's a pervasive perception that shares are being diluted to benefit the inner circle of the company, leaving regular investors feeling marginalized and disenfranchised.
It begs the question: when will shareholders wake up to the reality that the glory days of Galantas are behind us? It's a sobering realization that demands a reassessment of the company's trajectory and leadership. With each passing disappointment, it becomes increasingly clear that blind faith in promises of a brighter future is no substitute for tangible results and responsible governance.
Rather than sit on dead money here I took the loss and moved the cash into something else. Newbies beware, don't believe a single word Stifano says. He will misslead you.
Started: LiqMyAce, 25 Apr 2024 07:54
Last post: Englebert, 2 May 2024 20:19
So what is the problem? They've got the permits, they've got the people they've got the resource.... or do they?
All the ducks are lined up, ready for the 'golden shot', but fail after fail. Maybe curveball, but what if.... the best days are over, what if there is no gold? More dilution, more placements... pyramids????
In order to do anything with them, he has to come up with some sort of story or event, whether it be real actual mining or a takeover rumour as examples, to get some volume and liquidity and tempt gullible investors to buy into a rise.
I can't see it happening.
If he had developed the mine in the last two years, it would be producing by now and the SP would have rocketed upwards gaining proper investment with the current POG . Being pigs with snouts in the current trough will never come close to the money they could have made by actually developing the mine.
Please call him out. Tempted to go myself.
Stifano receiving a million options for doing nothing is disgusting. They raised the money to get into production over 2 years ago and still no production or even mention of it. I will be calling Stifano out at the AGM!
What a sham. For me these accounts read that Stifano is rinsing out all the money into his and his mates pockets and doing absolutely nothing to get any sort of mining operation except the small scale operation breaking up existing ore, which was there from Phelp's time. Remember Phelps left Stifano a complete feasibility study for the underground mine, the cash raised was supposed to get the gold out, but it's become just a trough for the pigs to feed from.
Look at the accounts :
General administrative expenses in 2023 were $4,243,507 and in 2022, $5,401,289
Cost and expenses of operations in 2023 were $182,295 and in 2022, $284,262
Just let that sink in... To anyone who has GAL on their watchlist, my advice, never invest or buy shares here !
For holders like me, IMO there will never be a gold mine here, so where is the spike ?
There has to be some sort of spike with volume for shareholders to sell and get their money back or even make a profit, ie GAL is due a classic AIM share mining company pump and dump. We've all see them.
So far there is nothing to suggest anyone would want to invest here, no rumours, no pump.. Yet.
For me the only speculation is whether to wait for a pump&dump to exit, or sell out now.
How is he going to get a spike going ? Is it possible to do without actually spending some money on some real mining which will need more funding ?
Cheers all and GL
This is all just my own opinion.
They are spending plenty of cash without any production. The update today is awful, no light at the end of the tunnel. Fire Stifano and hire a CEO that can get this dog into production.
Started: Gavster-NBC, 12 Apr 2024 13:00
Last post: Gavster-NBC, 12 Apr 2024 13:00
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.
Started: LiqMyAce, 20 Feb 2024 11:27
Last post: Gavster-NBC, 6 Mar 2024 07:24
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 !!
Started: LiqMyAce, 20 Feb 2024 09:32
Last post: LiqMyAce, 20 Feb 2024 09:32
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.
Started: Gavster-NBC, 6 Feb 2024 07:18
Last post: Gavster-NBC, 6 Feb 2024 07:18
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.
Started: Gavster-NBC, 9 Nov 2023 09:22
Last post: Englebert, 25 Jan 2024 19:17
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.
Started: Gavster-NBC, 10 Aug 2023 07:23
Last post: Gavster-NBC, 10 Aug 2023 07:23
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. "
Started: bbr391, 19 Jul 2023 17:00
Last post: sd81, 1 Aug 2023 09:23
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
Uptrend resumed .
Could be eventually worth well above today`s price.
If the Cobalt is there
Outstanding
Started: Dave85, 23 Jun 2021 09:04
Last post: bbr391, 13 Jul 2023 16:09
A break of 29c would be great .
And oodles of cobalt also might help a change of direction.
Outstanding
Well that 35p hasn't arrived, and neither has mineable quantities of gold. That drilling result is terrible.
IMO the CEO is beginning to take the absolute P|$$. We are literally millions and millions down and the results of the drilling so far is rubbish, but rest assured their salary and office costs are fine and they don't even have to report the exact quantities of gold mined rather what they mysteriously sold to offset against the mining costs, constantly being racked up more and more.
What do we have to sell now before they start reporting properly ? $10m or something like 10,0000 ounces assuming around half the price of gold is mining costs.
In Phelps day the equivalent share price was 60p and he was mining 12,000 ounces a year.
So far the new CEO can't even muster a 1000 ounces a year.
16p the current price, a massive discount to the funding issue prices.
The market is totally unimpressed with the progress here, as am I.
Maybe the change of material hunt , will post consolidation mean change of direction of share .
Nothing is certain , although Canadians look to be buying again
Outstanding
lol, gal closed at 35p equivalent on tsx esterday.
Our breakout should resume tomorrow.
Long may It continue.
Outstanding
Started: bbr391, 10 Jul 2023 08:18
Last post: bbr391, 10 Jul 2023 08:18
Rock chip sampling conducted by GreenOre in 2018 also identified elevated levels of cobalt in bedrock.
Outstanding
Started: ScottyGonzales, 14 Apr 2023 16:49
Last post: 3cardbrag, 14 Apr 2023 17:06
I think it's a mistake. Hsbc offering 27p to buy
Yeah.. Saw this too. Bid and Ask are the same. Some kind of mistake or someone over paid...
What's going on here?
Started: Footse10000, 28 Mar 2023 23:30
Last post: Kathy392000, 14 Apr 2023 16:39
45P now??? can't be.
I've had a few shares in Galantas for as long as I can remember. Very unpredictable as to where they are going.
In the past there was one problem after another: planning permissions, Road lay-by upgrades, police oversight of explosives, landscaping, endless share dilution. If all obstacles were in the past then the mine would be up and running at max output with a soaring share price.
But there always seems to be a new obstacle……
Typo, loans. Blooming mobile phones!
I was in ghus gof a while late last year but sold for a 30 odd % profit before recent drop. Set myself a re-entry price of 25p but recent expensive lions and backhanders plus constant delays had me wondering whether this is now more of lifestyle company for the directors so staying out until I see a better balancing of interests for ordinary shareholders.
I am a very long term supporter / investor here and it been quite a painful ride. It seems to be taking for ever to get to meaningful production despite numerous positive promises to the contrary - I’m a realist but it would be good hear views….
Started: Gavster-NBC, 24 Feb 2023 07:28
Last post: Gavster-NBC, 2 Mar 2023 14:03
Last three messages on here read ""This message has been filtered, please adjust your filters to view":"
I advise all to use their filter if the last three posts are somehow NYMBY-ism or anti-Galantas. It has been the case on this board in many times.
Anyway.. Dilution at 36 cents (20.3p). 5.5m shares. Not great but very affordable given our Market Cap.
The good thing about this compared to those many more dodgy AIM miners is that there has not been a high volume spike. One of those pumped investment traps to attract the liquidity needed for those with issued shares to exit at a profit.
https://www.morningstar.co.uk/uk/news/AN_1677705311860455100/trading-updates-galantas-to-raise-gbp12-million-in-private-placement.aspx
Why are there issues recruiting?
Good update IMO. No BS. A mining plan by Q2 then we can assume that they'll be recruiting from to start production by year end.
A bit less than some of the previous levels of production under Phelps, however a definitive plan to get up to 20k a year should mean a prospective Market Cap above £50m compared to current £23m. lets hope the all important AISC is at a decent level.
Last post: Englebert, 2 Mar 2023 12:40
https://www.facebook.com/photo/?fbid=186017197399744&set=a.153914257276705&__cft__[0]=AZXljUbdDCPfscPPO_D5fNz_5KbAuc434FsQxpusPugbaDli4TbLTV7oFSxJ2miBRnSahzOdpi1vVAC_g7HBjo7X2LxONklwnPccV_fibtL9-hBiiM_r4446bvxp4C-cpRb6rJ4GykJat58SBteFcEF7w0IhaLQ6SZvAxx7Bjnk7Ii2LKeQeD1yD9DDfnymOVNI&__tn__=EH-R
Started: Englebert, 1 Mar 2023 12:57
Last post: Englebert, 1 Mar 2023 12:57
Locally theres rumor of mass redundancies at the Omagh site? Anyone heard anything?
Started: Gavster-NBC, 13 Feb 2023 12:24
Last post: Gavster-NBC, 13 Feb 2023 17:06
Hi sd81.. probably. This is all I see :
"This message has been filtered, please adjust your filters to view"
Are you one of the discontented locals annoyed at having a mine on your doorstep by any chance.
"production to offset exploration"???
But the gates have been locked for the last week, nobody on site....
Agreed. Business model of using production to offset exploration was part of the attraction. Loans at 12% or giving away equity like in the Ocean deal needs justification. Supposed to have been producing (low) for over 6 months, how much cash has that brought in?
Stifano. the company should not be borrowing money !
The capacity before was for 12000 Oz per year. That's what the company should be producing now, and be putting each ounce through the the reports. Running out of investor good will if this keeps up.
Oh Gavster, lol
What have I said that's not correct ?
To ignore is to accept !
Good Luck Gavster ,
PS: I know you'll look , lol
TyndrumBoy1872. Put you straight on the ignore list. There is no need for misinformed judgemental nonsense on this BB.
Oh Gavster ,lol
Gal have been producing for over a decade and have made what , nothing more than a right old mess.
Those that don't take advice and all that , lol
One trick pony's that don't do tricks need a distraction from the facts , good luck , you will meed it it
Scotgold was 12 years in the making of massive woes for the shareholders. As I said. Scotland is as problematic as they can come. I doubt any shareholder here cares or will get remotely excited by the prospect of Scottish gold mine in a a decade after many many millions of pointless expenditure.
This will do nothing for the SP IMP. I want to see production and profit at the current mine, and the 300k ounces we already have get mined out the ground.
Gavster , lol
"Scotland, as problematic place to get mining permission as they come..."
If you can get permission to mine in a National Park in Scotland you can get it anywhere.
You should be more concerned with getting a legal contract with the land owner or whatever all your efforts may yield may be for nothing without that . Hope your management are aware that the law in Scotland is different , maybe you should give them a nudge.
Started: Englebert, 20 Nov 2022 09:52
Last post: Englebert, 20 Nov 2022 09:52
Latest news regarding the Omagh mine site-, from Dungannon Court on Friday...
Operators of Omagh based gold mine fined following health and safety failures
https://www.hseni.gov.uk/news/operators-omagh-based-gold-mine-fined-following-health-and-safety-failures?fbclid=IwAR0MertGupFbv8HKemhJxC-XR-IF2tMWx4_-11vkbduIIxnlPUoyvFw2a1E#:~:text=The%20Health%20and%20Safety%20Executive,were%20today%20fined%20%C2%A3120%2C000
Started: Winstonwolf, 24 Oct 2022 12:25
Last post: Gavster-NBC, 25 Oct 2022 16:51
Hi Winstonwolf.
Welcome to GAL, It's very slow moving, quiet sub-committee of the Stock exchange and LSE discussions.
I saw the catastrophe of Pure. Have to say I was amazed people were sucked, even when the market cap was half a billion and more, they never actually said what their processing capacity was so what they might actually earn, nor did they have a finished BFS. Anyway, better out of it IMO, it's a gamble now, and subject to Sprott games, as are we here.
There are loads of GAL warrants which may magnetise the SP a bit lower, but we know that the historic capacity of the processing plant was around 12000 ounces a year, so this must be the first target. But so far no declaration of production which the longer doesn't happen, the more annoyance as investors I (and we) will have, as it should be now. Patience is not endless.
There are some anti-mining activists that appear on the board now and then and they have been successful in delaying the project for years in the past, which hurt the local economy but made them happy temporarily, even though IMO, the best way of funding the land to go back to it's natural beauty is to let the mining happen, so it can be paid for.
That all said... If the herd ever notice this is a bargain when production and measured resources loom the SP would rocket.
New investor after the debacle at Pure Gold Mining. I have certainly learned my lessons there.
Started: Gavster-NBC, 4 Oct 2022 18:44
Last post: Gavster-NBC, 7 Oct 2022 10:18
Something is up.. I can get an instant quote to sell £20k worth of shares, completely unheard of in the realm of GAL.
There must be buyers a plenty or a large buy order to fill. Not usually one to comment on such things but yesterday I could not even get a quote for a sell worth £1000, so I see this a good reason to hold.
https://www.youtube.com/watch?v=h9YgCi0yjkE
The Economic Ninja on youtube has been recommending the share today and features an interview with Stifano.
So it's a pump up, let's hope it leads the an announcement soon of production, rather than profit taking and a slide back down.