RE: Still no production25 Apr 2024 08:17
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.