The company has announced the first shipment of concentrates from its developing Omagh underground gold mine in Northern Ireland. With remaining upfront capital expenditure of around £4m, we forecast production of around 8,500 oz next year, with around 25,000 oz the year after. At £900/oz, this represents possible revenues of more than £6m (2019) and £18m (2020), while cash flow could amount to over £8m in 2020. This could grow to nearly £13m in 2023.
07 Nov 2018
Raging Bull, not Stale Bull
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Raging Bull, not Stale Bull
Galantas Gold Corporation (GALKF:OTC) | 0 0 (-2.7%) | Mkt Cap: 6.04m
- Published:
07 Nov 2018 -
Author:
Roger Bade -
Pages:
25
The company has announced the first shipment of concentrates from its developing Omagh underground gold mine in Northern Ireland. With remaining upfront capital expenditure of around £4m, we forecast production of around 8,500 oz next year, with around 25,000 oz the year after. At £900/oz, this represents possible revenues of more than £6m (2019) and £18m (2020), while cash flow could amount to over £8m in 2020. This could grow to nearly £13m in 2023.