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Galantas Gold Corp restarts processing and production at Omagh gold mine

Staff, previously furloughed under the UK government grant scheme during the coronavirus crisis, are now back at work

Galantas Gold Corp - Galantas Gold Corp restarts processing and production

Galantas Gold Corp (LON:GAL) (CVE:GAL) has told investors that concentrate processing has now restarted at its wholly-owned gold mine near Omagh, Northern Ireland.

During the downtime, maintenance of certain aspects of the processing plant was undertaken which is expected to minimise any future disruptions, the company noted.

Staff, previously furloughed under the UK government grant scheme during the coronavirus crisis, are now back at work, it added.

READ: Galantas Gold set to complete share consolidation

The restart comes a review of health advice from the authorities – in the UK and in Ireland – along with a risk assessment and the introduction of modifications to working practices.  

The company noted that the processing plant is presently being fed low-grade stock until suitable arrangements are in place to restart underground development operations which will yield higher-grade ore.

Corporate activities also continue, the company noted.

“Discussions with a number of parties continue in terms of a corporate action involving a potential sale or joint venture and due diligence materials continue to be processed,” Galantas said in a statement.

The company noted recently published ‘blanket relief’ allowances by the Canadian Securities Administrators which will allow a delay in the release of its financial results for 2019 and quarterly results for the three months ended March 31, 2020.

It said it anticipates filing the full year documents before 15 June 2020 while the quarterly results are slated for 15 July.

Quick facts: Galantas Gold Corp

Price: 19 GBX

AIM:GAL
Market: AIM
Market Cap: £6.14 m
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