Galantas Gold Corporation (UK) (GB:GAL) has released an update.
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Galantas Gold Corporation reported a net loss of $8.6 million for the year ended December 31, 2023, halving the previous year’s $16.6 million loss, and a reduced cash loss from operating activities. The audited financials show a working capital deficit of over $12.5 million, with the company having a cash balance increase to $2.6 million as of year-end. Despite zero revenue from gold sales, preliminary concentrate sales reached over $1 million in 2023.
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