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The latest announcement is out from Galantas Gold ( (TSE:GAL) ).
Galantas Gold has provided an update on its planned acquisition of RDL Mining Corp. and an associated brokered private placement of units at C$0.08 per unit, led by Canaccord Genuity and Haywood Securities. The company is working to satisfy remaining closing conditions, including TSX Venture Exchange approval, and expects both the acquisition and financing to close in 2025, during which time trading in its shares remains halted under exchange policy. Upon completion of the deal, Galantas, through RDL, will hold an option to acquire 100% of the Indiana gold-copper project in Chile, requiring staged payments totaling US$15 million over five years, while making separate lease-style payments based on production or minimum annual amounts until the option is fully exercised. Galantas also clarified and corrected previously disclosed technical information, reiterating that the Indiana Project hosts a historical inferred mineral resource of about 714,600 ounces of gold equivalent under a 2013 NI 43-101 technical report, framing the Chilean asset as a potentially significant new growth platform pending successful completion of the transaction and option payments.
More about Galantas Gold
Galantas Gold Corporation is a precious metals exploration and development company listed on the TSX Venture Exchange, AIM and OTCQB, focused on advancing gold and copper assets. The company is expanding its portfolio through acquisitions and options on projects in mining-friendly jurisdictions, with an emphasis on unlocking value from underexplored or historically delineated deposits.
Find detailed analytics on GAL stock on TipRanks’ Stock Analysis page.