Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The latest announcement is out from Galantas Gold ( (TSE:GAL) ).
Galantas Gold has completed the acquisition of RDL Mining Corp., giving it an option to acquire 100% of the Indiana gold-copper project in Chile, and has strengthened its balance sheet with aggregate gross proceeds of $15.525 million through a brokered private placement and a shares-for-debt settlement with Ocean Partners. The company also released an updated NI 43-101 mineral resource estimate for the Indiana Project outlining 4.93 million tonnes of inferred resources grading 2.24 g/t gold and 1.31% copper, initiated mine design and PEA workstreams, secured a commercial off-take agreement for copper-gold concentrate with Ocean Partners, and added mining veteran Lawrence Roulston to its board, moves that collectively position Galantas to advance the project and potentially enhance shareholder value through further drilling and project de-risking.
The most recent analyst rating on (TSE:GAL) stock is a Hold with a C$0.10 price target. To see the full list of analyst forecasts on Galantas Gold stock, see the TSE:GAL Stock Forecast page.
Spark’s Take on TSE:GAL Stock
According to Spark, TipRanks’ AI Analyst, TSE:GAL is a Neutral.
The score is held back primarily by weak financial performance (no revenue, renewed TTM losses, and ongoing cash burn). Technicals are moderately supportive with price above major moving averages, and corporate events (financing and project-focused acquisition) add upside potential, but negative earnings and lack of dividends limit valuation support.
To see Spark’s full report on TSE:GAL stock, click here.
More about Galantas Gold
Galantas Gold Corporation is a precious metals company listed on the TSX-V, AIM and OTCQB markets, focused on gold and copper assets and advancing mining projects through exploration, resource definition and mine development, with a growing presence in Latin America via the Indiana Project in Chile.
Average Trading Volume: 270,612
Technical Sentiment Signal: Sell
Current Market Cap: C$12.58M
See more data about GAL stock on TipRanks’ Stock Analysis page.