Galantas Gold Corp - Northern Ireland-focused gold producer - Reports no revenue generated in 2020 compared to CAD5,788, or GBP3,361, in 2019, which consisted of jewellery sales. 2020 net loss narrows to CAD3.2 million from CAD3.6 million in 2019. Provisional 2020 concentrate sales were USD1.4 million, down from USD1.5 million in 2019, with net proceeds from concentrate sales offset against development assets until the Omagh mine begins commercial production.
"Following the suspension of blasting operations at the mine, the processing plant continued to operate on a limited basis from low grade stock. In March 2020 and following UK government guidelines regarding Covid-19, processing operations temporarily ceased until May, when the company announced that concentrate processing has recommenced. The company carried out maintenance to the processing plant during the milling suspension to minimise future maintenance interruptions," says Galantas Gold.
Says a limited re-start of underground blasting commenced late in the first quarter of 2021 and will continue throughout the year.
Current stock price: 30.70 pence, up 16% on Wednesday
Year-to-date change: up 98%
By Zoe Wickens; zoewickens@alliancenews.com
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Galantas Gold (GAL)