The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Seems as though the message is spreading...
https://www.irishtimes.com/news/ireland/irish-news/leitrim-councillors-unanimously-oppose-prospecting-licence-1.4716142?fbclid=IwAR07iU56Sn8X9eNlOUOg0UNejqvVxgggl171lGabuTtg3THRE9Hd8r1yXRo
Fermanagh and Omagh council meeting 27th October 2021:
It seems that GAL may have fallen foul of the local council and their proposed new 7 bore holes are not allowed to proceed under 'permitted development', but the company will now be forced to go though a lengthy full planning application to continue with this. I cant help thinking that the council and the local people are being influenced by the actions of Dalradian, and the incompetence of the local regulatory authorities.
Check out this documentary- https://www.bbc.co.uk/iplayer/episode/m001120j/spotlight-gold-rush-the-war-in-the-sperrins
Looks like things have gone full circle again...
Interesting concept though, money to be made every time GAL make the 'agreement on explosives escort' statement, sell off the shares when they peak, then buy them back a week later.... then wait a month, do it again.
LOL Guys! I'm not to worried now, as I've bailed out of GAL, and although it's a loss for me, I sense it's not as bad as it's going to be once normality begins to bite.
I believe the gold price is inflated mainly down to the COVID hysteria, and it's being propped up with panic from the central banks... once things begin to revert to semi normal the demand for gold will decrease and the price will fall as quickly as it climbed. With a fall in the price, inevitibly GAL will struggle to keep afloat. I've lost confidence in the company anyway, and I think even if the gold price stabilised now, they'd still find it hard to get back. Long and short is.... they lost their mine manager during COVID, they're going to have to pay for the police escort duties in future, and the bad vibes in the neighbourhood down to DAL are going to make this even more of a challenge.
I may be wrong... but whatever. I'll not worry about it now.
RE: "Not surprised the MM's were willing to sell you shares at 18p, given there's a placing in the works at 13p?"
Why are the 'alarm bells' not ringing now? Unless of course management are intentionally trying to devalue the shares.... for 'whatever' reason..... SELL SELL SELL!
it's clearly obvious that something is wrong in the reporting..... you cant have a chain of sales an no fluctuation on the base price unless something is going on... this will only serve to undermine the confidence in GAL further
Cheers Gavster.... I really don't have a problem with that.
Is you issue with what has been reported in the newspaper, contradicting what Roland said in his statement, or just the fact that I highlighted it? I know this probably isn't what investors want to hear right now- but when it is revealed that there is truth in this, investors would have wished they knew sooner. Do you really think the newspaper would publish this if there was no substance to the article?
Tyrone Herald (Monday edition of the Ulster Herald) is available here-
https://subscriber.pagesuite-professional.co.uk/subscribe.aspx?source=4&eid=fa7b3218-e86a-47aa-9ef8-9695ed2284c8
(You'll need to cash in 8 of your shares to cover the expense though)
Outstanding issues remain between goldmine company and PSNI
Article in yesterdays Ulster Herald paints a different picture from Roland's recent statement, and things may not be as rosy as portrayed in the statement.
While Galantas said that an acceptable solution had been agreed in the issues for finances for blasting supervision, it seems that there will be a 'necessary outlay' and that a final agreement has not been reached.
To quote the Ulster Herald- "At the time. the PSNI's district commander for Fermanagh and Omagh, Clive Beatty, said it was reasonable to expect a commercial venture to contribute all or part of the policing costs where it was legitimate and proportionate to do so. In a statement, the PSNI confirmed that it has been in discussion with Galantas in recent weeks, but that final agreement 'had not yet been reached' in terms of how operational matter will be progressed."
Yes indeed- how things have changed since you checked last. Galantas went into 'freefall' mode and had to consolidate their shares in case they got delisted. Your previous 170 shares are now 17 in total.
Galantas have stopped production, but apparently will restart milling stockpiled low grade material tomorrow, to keep the 'money coming in'.... Should be interesting to see if this really happens... Roland will need to start delivering more than talk now.... Also hopes to restart blasting soon - but needs another 'cash transfusion' to do this.... not sure exactly what effect this will have on investors- perhaps possible dilution?? who knows, but not looking too healthy at present.
Also as per Rolands recent video no real news on the sales or JV prospects yet....
In the past week, nothing has really changed as such- just a rally in the share price sparked by 2 new promises.. looks as if the hype is settling again now, and people will expect to see results soon....
can you even call it a 'promotional video'... ? no detail on the PSNI agreement- ie, how much will this cost the company? and no detail or even an estimate on how much financing will be required and the implications to shareholders? It's beginning to look like a marathon ahead of us here, and we're not even at the first mile marker..... we need some facts and details... A vision without a plan is just a dream- or for some of us already- a nightmare.
It would appear that GAL have been conducting some prospecting operations in neighbouring County Donegal (ROI) over the last week, but they have fallen out of favour with the locals there too. It is reported that their workers have been entering private land and removing soil samples without the permission of the landowners.
While they may have a prospecting licence, permission from the landowner is required before entering the land and removing samples.
So much for the plan B...
Total trader... Sure didn't the Titanic also scrape along the iceberg, tore the hull open and led to the inevitable disaster? Wasn't that the root cause? I guess you'd look for further positivity in that story too, perhaps in that the ship's swimming pool still holds water after 108 years on the seabed.
Indeed perhaps an apt metaphor for GAL at present.
The PSNI issue is indeed a ‘hurdle’, but in the true sense of the word- an impenetrable barrier, not the kind of thing that the ‘Galantas’ athlete gracefully and effortlessly passes over over on the track of gold production.
Certainly you can find a method of posting pictures, it’s the 21st century after all, and there are many methods out there at your disposal. I’m sure everyone on here would be grateful to see them. Even better why not send them to Galantas, and ask them to publish them on their website? Or can they even take their own photos. I know a few locals there who would be very eager to assist if necessary.
How could the news of the PSNI come as a shock? This is not the first time they have suspended operations at Galantas… and with the ongoing withholding of the Dalradian invoice? Dalradian are currently engaged in their ‘Tyrone fund’ programme, issuing money to local charities and groups- but further rubbing salt in the wounds of local tax payers, and the PSNI.
Totaltrader: Re: "I put the chances at 95/5 within GAL's favour, the only real questions are how long will it take to get PSNI approval and what do you do in the meantime".... I see where you're coming from there, but the PSNI question is quite a fundamental issue and should be considered in you're "95/5" estimation.. Isn't that a bit like saying the maiden voyage of the Titanic was successful, apart from the 'Iceberg' incident?
Also- "you've seen gold in the faces" at Cavanacaw? Really? I've been there also and have been shown the ore at the face and after the concentration process... guided by the mine manager no less (and he should know what he's doing- or maybe that's the issue)... Well it seems they're targeting a dark grey band of material, a stratified layer running along the site. Maybe you need to get back there and put them right?
Personally I think 50/50 is on the generous side there... Yes there is a reason why the GAL team are not flaunting their wares, and showing off like DAL who have only a small exploratory adit.... Why do you think that GAL are not marketing tunnel tours to the public, why are they not 'sharing' images of the mine online and in social media.... No positivity there at all as far as I can see, and there certainly 'isn't smoke without a fire'.
Why not go direct to the horse and ask Phleps himself? Ask him is this a fantasy, or will there be any realistic possibility of this ever happening? Email address is info@galantas.com , or even better give him a call at- +44 (0) 28 8224 1100
I have to say your idea of GAL paying the DAL bill is one of the craziest things I've heard online, but perhaps Phleps should put some pressure on Patrick Anderson at DAL to sort out the mess on his doorstep... You are 100% right in that nothing will come of this until the bill is paid and resourcing is sorted.
you're 100% right there dan.... but the ironic thing about the whole episode with DAL is that they're giving away money in a social scheme called the 'tyrone fund' to local charities, schools, groups, etc... to encourage support. they claim that they've given away something like £525k, which could easily have covered their explosives bill.... instead they decided to withhold payment and they could be court action to recover it.... the stage has surely been tarnished with this act, and undoubtedly the cost will need to be recovered eventually, like it or not- GAL will feel the effects of this to their detriment, as will all other subsequent mining companies that will require blasting cover.