Galantas Gold recorded an increased net loss as it increased activity at its Northern Irish asset led to increased production costs.
Galantas Gold Corporation has today announced a proposed private placement of shares, for working capital purposes, as well as to continue developing an underground mine on the Omagh property.
Galantas Gold has recorded a wider first-quarter net loss of C$684,234, from a loss of C$373,345 a year earlier.
Galantas Gold advised on Monday that underground mine development operations were shortly expected to commence at the Omagh Gold Mine, County Tyrone, Northern Ireland.
Galantas Gold's shares are flat after it posted a net loss for the year of C$1.6m, from a year-ago net loss of C$1.8m. It said output from the Omagh mine remained suspended.
Galantas Gold Corporation advised the market on Monday that it received notification that the Police Service of Northern Ireland would not provide its required anti-terrorism cover in regard to blasting operations required for mine development at the Omagh Gold Mine.
Galantas Gold Corporation said construction of the portal works for development of its underground gold mine at the Omagh gold property, County Tyrone, are complete.
Galantas Gold Corporation announced on Monday that underground development had commenced on the Omagh gold property, County Tyrone, Northern Ireland.
Shares in Galantas Gold are up more than 1% as it said the the second part of the private placement has closed.
Galantas Gold Corporation, the gold producer and explorer with a 100% interest in Northern Ireland's Omagh gold mine, announced on Monday that the private placement to the gross value of CAD 2,446,299, in line with the terms and proposed placing price previously outlined on 18 January, was anticipated to close in two parts.
Galantas Gold Corporation announced on Tuesday that it intends, subject to suitable financing, to commence underground development and restart concentrate shipments at its Omagh, Northern Ireland gold mine.
Galantas Gold Corporation announced on Thursday that it intends, via a Northern Ireland subsidiary, to bulk sample the Kearney stringer vein on its Omagh gold property.
Galantas Gold Corporation has flagged a possible challenge to its underground mine in Omagh, County Tyrone in Northern Ireland.
Surface sampling by Galantas Gold Corporation has raised hopes of expanding its wholly owned Omagh Gold Mine in Northern Ireland.
Mineral explorer Galantas Gold said has closed its CA$2.4m (£1.18m) private placement it had launched earlier this month.
Galantas Gold announced encouraging test results from its new licence in the Republic of Ireland.
Galantas Gold shares rose strongly on Thursday after the firm announced the "game changer" news it has been granted planning consent for an underground gold mine in Ireland.
An unexpected hitch in the planning process has sent Northern Ireland-focused miner Galantas Gold tumbling, requiring an extra £100,000 short-term loan provided by its chief executive officer (CEO).
Explorer Galantas Gold has increased reserve estimates at a mine in Northern Ireland.