- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Purpose Bitcoin ETF
Soma Gold Corp.
Black Swan Graphene
CI Galaxy Bitcoin ETF
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Galane Gold Releases Financial and Operating Results for Third Quarter 2015
alane Gold Ltd. (TSXV:GG) announced the release of its financial results for the three and nine months ended September 30, 2015.
Galane Gold Ltd. (TSXV:GG) announced the release of its financial results for the three and nine months ended September 30, 2015.
As quoted in the press release:
Third Quarter 2015 Highlights
- Operating cash cost of $875 per ounce (excluding royalties).
- Net loss of $639,968.
- Cash balance of $2,805,933 at the end of the quarter.
- Produced 7,637 ounces of gold.
- Total ore mined from Tau of 25,580 tonnes at an average grade of 3.18 grams per tonne.
- Total ore milled of 228,450 tonnes at a head grade of 1.37 grams per tonne.
- In August 2015, the Company commenced stoping at Tau in the Eastern ore body.
Galane Gold CEO, Nick Brodie, stated:
The third quarter of 2015 was an important quarter for the Company with Tau underground commencing commercial production in the Eastern ore body. This resulted in a 58% increase in the number of ounces produced over the previous quarter of 2015. Development will continue as we aim to reach the main ore body towards the end of 2016.
The current gold price does create challenges for the Company, as it does for the industry as a whole, but we have successfully renegotiated the repayment terms on both the Company’s loan facility with Samsung and an extension to the deferment of royalties with the Government ofBotswana. In addition, we believe the acquisition of Galaxy Gold Mining Limited represents an opportunity for us to reduce our cash cost per ounce due to its high grade and low production cost.
Connect with Galane Gold Ltd. (TSXV:GG) to receive an Investor Kit.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.