|Bid||0.1100 x 0|
|Ask||0.1200 x 0|
|Day's Range||0.1100 - 0.1150|
|52 Week Range||0.0400 - 0.1300|
|Beta (3Y Monthly)||1.78|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
OTCQB: GGGOF) is pleased to announce that B2Gold Corp. (“B2Gold”) (BTO.TO) has met the conditions of Tranche 1 of the previously announced earn-in option agreement with respect to certain Botswana prospecting sites (the “Earn-in Agreement”) and has confirmed its intent to commence with Tranche 2 expenditures of US$2 million. Galane Gold CEO, Nick Brodie commented: “B2Gold has completed detailed mapping of the most prospective areas of the prospecting licences and has identified the areas where it wishes to commence a more detailed exploration campaign. Under the Earn-in Agreement, B2Gold has the option to indirectly acquire, in three tranches, up to 70% of the shares of Southern Cross Exploration and Development (Pty) Ltd. (“Southern Cross”), a subsidiary of Galane Gold, which has received two gold prospecting licences over an aggregate of approximately 520 km2 located around the Company’s Mupane property in Botswana, excluding its current operations and mining licences.
OTCQB: GGGOF) announces that it has entered into an agreement with a requisite percentage of debenture holders to amend certain terms of its existing US$1.672 million 4% unsecured convertible debentures (the “Debentures”) originally issued in connection with the acquisition of Galaxy Gold Mining Limited in November 2015. Under the terms of the amended Debentures, the maturity date has been extended from November 20, 2019 to November 20, 2021 and in exchange the conversion price of the principal amount of the Debentures has been reduced from CDN$0.58 to CDN$0.20 per common share. The Company recently prepaid US$728,000 of principal of the outstanding US$2.4 million of the original Debentures.
A copy of the unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2019 (the “Financial Statements”) and the corresponding management’s discussion and analysis (the “MD&A”) are available under the Company’s profile on www.sedar.com. The DSUs will vest in three equal instalments on the first, second and third anniversary of the date of the award.
OTCQB: GGGOF) is responding to a request from the Investment Industry Regulatory Organization of Canada, following the trading activity occurring today in its common shares. The Company is not aware of any corporate developments or other reason for the recent increase in market activity. Galane Gold is an un-hedged gold producer and explorer with mining operations and exploration tenements in Botswana and South Africa.
OTCQB: GGGOF) is pleased to announce the release of its financial results for the three months ended March 31, 2019. A copy of the unaudited condensed consolidated interim financial statements for the three months ended March 31, 2019 prepared in accordance with International Financial Reporting Standards and the corresponding Management’s Discussion and Analysis are available under the Company’s profile on www.sedar.com. The Galaxy project continues at pace with the refurbishment of the existing plant completed and now in operation, concentrate production commenced, and first ore production from Princeton achieved.
A copy of the audited consolidated financial statements for the year ended December 31, 2018 prepared in accordance with International Financial Reporting Standards and the corresponding Management’s Discussion and Analysis will be available under the Company’s profile on www.sedar.com. For the third consecutive year, the Company has increased its production and cash balance, and reduced its operating cash cost(1) compared to the previous year. Galane Gold CEO, Nick Brodie commented: “As I stated in the 2017 year end press release, I expected the results in 2018 to be an improvement on the previous two years and they have been.
OTCQB: GGGOF) is pleased to announce that it has commenced commissioning of its 15,000 tonne per month plant at the Galaxy project (“Galaxy”) and the production of its first concentrate. Galaxy has commenced operating through the existing refurbished 15,000 tonne per month plant in line with its schedule for the restarting of production. The Company will ramp up production through the remainder of the month, as part of the commissioning process, to the point when the Company expects to use the full capacity of the plant from May onwards.
OTCQB: GGGOF) is pleased to announce that it has mined its first ore from the Princeton ore body at its Galaxy project (“Galaxy”). Galaxy had targeted in its original plan to produce ore from the Princeton ore body commencing in June 2019. Upon review of its mine plan, Galaxy was able to accelerate the mining of the ore and put itself ahead of its original production plan for 2019.
Galane Gold Ltd. (“Galane Gold” or the “Company”) (GG.V) is pleased to announce that it has completed the donation of 17% of the total issued share capital of Galaxy Gold Mining (Pty) Ltd (“Galaxy”) to the Phakamani Foundation NPC (“Phakamani”) as part of its empowerment requirements in South Africa(1)(2). Phakamani is a development micro-finance institution that envisages South Africa as a country in which even the poorest entrepreneur can create a micro-enterprise and build a dream. Further information on Phakamani and its activities in South Africa can be found on their website http://phakamanifoundation.org/.
OTCQB: GGGOF) is pleased to announce that it has received the funds from its first draw down request with regards to the secured loan facility with Barak Fund SPC Limited (“Barak Facility”). The funds from the Barak Facility will be used to increase the processing plant capacity to 30,000 tonnes per month.(1) It will also be used for the development and first fit work required to recommence underground operations. The Company expects to produce first concentrate in April 2019 as previously announced.
OTCQB: GGGOF) is pleased to announce that during 2018, the Company produced 35,528 ounces of gold at its Mupane property which represents its best annual output since 2013. Galane Gold CEO, Nick Brodie, commented: “This represents a strong year for the Mupane operations with production from Tau underground contributing to exceptional operating results. Work is still ongoing at Galaxy with first production still expected in April 2019.
Galane Gold is an un-hedged gold producer and explorer with mining operations and exploration tenements in Botswana and South Africa. Galane Gold is a public company and its shares are quoted on the TSXV under the symbol GG and the OTCQB under the symbol GGGOF. Galane Gold’s management team is comprised of senior mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programmes.
Galane Gold Ltd. (“Galane Gold” or the “Company”) (GG.V) is pleased to announce that it has placed the material orders required for the processing plant upgrade according to its plan to recommence production at its Galaxy Project by April 2019. The Company advises that it is not basing its decision to expand the throughput capacity of the Galaxy mine’s processing plant to 30,000 tpm on a feasibility study of mineral reserves demonstrating economic and technical viability of production at such levels and as a result there is increased uncertainty. These risks, among others, include areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and reserves and environmental and community impacts.
A copy of the unaudited condensed consolidated interim financial statements for the three and nine months ended September 30, 2018 prepared in accordance with International Financial Reporting Standards and the corresponding Management’s Discussion and Analysis will be available under the Company’s profile on www.sedar.com.