Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Galantas Gold ( (TSE:GAL) ) has shared an announcement.
Galantas Gold Corporation has entered into a binding term sheet with Ocean Partners UK Limited to form a joint venture for the development of the Omagh Gold Project in Northern Ireland. Ocean Partners will convert approximately $14 million in existing loans for an 80% interest in the project, with Galantas retaining a 20% stake. This transaction is expected to enhance Galantas’ financial position and enable the recommencement of production amid rising gold prices. The joint venture aims to commence a drill program targeting high-grade zones, and Galantas will also focus on advancing its Gairloch project in Scotland.
More about Galantas Gold
Galantas Gold Corporation operates in the mining industry, focusing on the exploration and development of high-grade gold projects. The company is primarily involved in the Omagh Gold Project in Northern Ireland and the Gairloch project in Scotland.
For a thorough assessment of GAL stock, go to TipRanks’ Stock Analysis page.