Tatty
19 Mar 2015
Making Progress? SP moving in a good direction on reasonable volume. News around the corner perhaps?
Tatty
11 Jan 2015
CEO lends GAL £100k I'm not sure if this is a good thing or a bad thing. I suppose good in the sense he's offering finance at what I assume is a commercially advantageous rate ( br + 2%). Is there a conflict of interest here?
Mr FrankLy
05 Jan 2015
Is this s good bet? OK, so cards on the table, I bought this share about 3 months ago at 5.14p per share. Not my best move.So as always I did some Monday morning football manager style analysis looking at the company like I should have before I bought. I don't feel goo now.This is really basic so if anybody has an upside please jump in and correct me.In the feasibility study in 2012 they estimate an average price of $1,375 per oz (not a bad estimate in 2012 but it's now at $1,205 with no sign of shifting up (money is flowing into tech right now and not into minerals).So if we use $1,100 for our purpose and stick on the safe side.Cap Ex for this is estimated at £16.7m.Op ex per annum is £15.6m.The study then has 3 options with different productions. I don't entirely get their variable and fixed costs as there's no real breakdown from what I can see, but if you use their overall figures for OpEx and CapEx you get the below:Option A:Total spend: £94.8mTotal income: £132.0mPROFIT: £37.2mReturn: 39.2% over 5 yearsOption B:Total spend: £110.5mTotal income: £139.3mPROFIT: £28.9mReturn: 26.1% over 6 yearsNow if I was running this company I'd probably look to give myself a job for as long as possible and stretch profits over a long time frame (IE keep me in a job and looking good) so I'd choose option B. This mean s 26.1% over 6 years. THAT ABOUT 3.94% per year.In summary, stick your money in a bank, it's guaranteed and about the same return.(for full disclosure, if it is Option A they go for and the price does average $1,375 per Oz then you're looking at 74.0% over 5 years or 11.72% which would be nice....but unlikely I think).Any comments welcome.
redbalthazar
03 Dec 2014
Re: Flying! From StockMarketWire: "Until underground mining is permitted and operational, Galantas Irish gold, for the purposes of this agreement, is anticipated to be sourced from existing stock from prior production."
Tatty
03 Dec 2014
Re: Flying! Now dropping off. Maybe because people are wondering where the gold will come from if no production?
redbalthazar
03 Dec 2014
Flying! Make that 32.74% up! Come on GAL!
redbalthazar
03 Dec 2014
Reaction? Might just be a glitch but my screen just went from GAL level for the day to 17.93% up in a minute.Good news at last!
redbalthazar
03 Dec 2014
Sales agreement Just in case there's anyone still here...GALANTAS ENTERS INTO AGREEMENT FOR GOLD JEWELLERY PREMIUM 3rd December 2014 : Galantas Gold Corporation (the Company) is pleased to announce that an agreement has been entered into for the production, marketing and sale of a range of jewellery products, using Galantas Irish gold. The agreement, with TJH Ltd of Dublin, Ireland (TJH), sees Galantas Irish gold, produced from the Company's Omagh mine, being sold to TJH at a premium to the average monthly London Metal Bullion price, subject to a minimum price, with a royalty on wholesale jewellery sales, payable on a quarterly basis. TJH is an established jewellery marketer and manufacturer, having developed other brands, including Irish oriented brands, previously. The premium, minimum price, royalty and volume are confidential for commercial reasons, at the request of TJH. Galantas has 100% ownership of the only gold mine in Ireland, which is located near Omagh, County Tyrone. The mine was working until recently as an open pit. It has a planning application for continuing operations underground nearing determination. Until underground mining is permitted and operational, Galantas Irish gold, for the purposes of this agreement, is anticipated to be sourced from existing stock from prior production. The disclosure has been reviewed and approved by Roland Phelps (President & CEO), Galantas Gold Corporation. Galantas Gold Corporation Issued and Outstanding Shares total 76,697,156. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Tatty
27 Nov 2014
Re: Third quarter results out cash position well below current payables implies insolvency if no additional working capital can be raised. If no planning consent is forthcoming - curtains.
redbalthazar
27 Nov 2014
Third quarter results out I'm no accountant, but...gulp.Also, the ongoing viability of the company depended on gaining planing consent.
