Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Can you blame these 'anti-prosperity locals' for wanting to preserve the beautiful country that they live in? GAL to the south, DAL to the east, 25% of the land area in NI has had prospecting licences issued, 30% in the Republic. Risk of fracking on the horizon too within the same council region as GAL...
Do you believe they are really 'anti-prosperity'?
Perhaps it's just a different kind of prosperity that these folk enjoy. Prosperity from a rich landscape, family, nature and a general appreciation for what they have- not 'having what they want'.
You would do well to take a lesson from them.
so what has changed since 12th May 2020?
https://www.galantas.com/news/galantas-inks-commercial-blasting-arrangements/
or maybe its just a message we've heard before...
https://www.galantas.com/news/galantas-announces-scheduled-restart-of-processing-and-agreement-regarding-blasting/
Confidence in current 'mis' management will detract from interest in potential JVs, and I don't know how likely a sale would be given the current climate. The only real option would be for them to continue 'as is' for the time being, but this will require a lot of faith from the investors. If it works out, the pay back should be good, perhaps a sale might be more attractive if they start performing better- but in any case we will need to see positive results first.
Can investors tie up cash in this during the wait though? how long will the wait be? Wouldn't be my priority at this stage, there are easier fish.
Interesting article indeed- I think the picture is way out of date for some reason though- must be 2005/2006 at least before the Kearney pit was fully opened.
Question is though.... if this is such a bargain, and the mine is so lucrative, why haven't Galantas exploited this to the max, and made their hay in the sunshine? With gold prices maxxed in the last few years this should have been achievable. What is stopping them? Are the costs of the additional policing undercutting profits? Will this be a problem for the future profitability of the mine? Why so much current debt? I have a few major concerns about the op that keeps me from investing.
You will also need to carefully factor in those who oppose the project, and their links to the various land protection groups in neighbouring Co.Tyrone. They are numerous, have a network of close links and have effectively paused Dalradian's progress at Curraghinalt for the last 3 years.
Don't underestimate the power of people, especially the Donegal people....
Did you spot the 'sneaky' RNS slipped in there yesterday evening. You'd nearly think they didn't want you to know about the additional 11.5 million shares added to Galantas.....
https://www.londonstockexchange.com/news-article/GAL/galantas-announces-conversion-of-debenture/14801376?fbclid=IwAR3UaxGsQvc89VIGLoaXHUdmobT1M2BZUwIIcdS_POzCMnjdYear7qoX4hA
Gavster... points of fact-
The area effected by the peat landslides is in one of the Galantas/Omagh minerals licenced prospecting area 'OM4/19'? YES or YES (clue the answer is 'YES')
This area is exactly 21 miles away from the Cavanacaw Galantas mine, not 10 as you state.
Irrelevant to the Galantas share price, investors, JORC or current business plan...? really... then why were their geologists sampling in the area recently, and why did they go to the expense and effort of securing a prospecting licence in 2019? Perhaps it is 'irrelevant', some would call it downright foolish and irresponsible for a mining company to keep all its 'eggs in one basket', and not have parallel exploration going on a lot earlier.. These areas should have been explored and aquired back in 2010, GAL would be in a much better state than they are in today I can state confidently- instead of flogging the dead horse of Cavanacaw. Lets face it, the good days are gone at Cavanacaw, the low hanging fruit are but distant memories, and so in fact are the fruit trees.
Also "Even if mining took place some long time in the future, it would probably be well below any rivers or ground that could cause landslides" - Are you even aware of the Galantas Cavanacaw site? Do yo work there or something? Its on hilltop, on a peat bog... there is a 'peat stockpile' that they had to remove to get at the Kearney vein!..... Surrounded by peat bog, the source of a tributary stream that feeds the main river that passes through Omagh....
Happy ramping! but no thanks