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Galantas Gold ( (TSE:GAL) ) has shared an update.
Galantas Gold has completed the acquisition of RDL Mining Corp., securing an option to acquire 100% of the Indiana gold-copper project in Chile, and has strengthened its leadership with the appointment of RDL principals to its board and operations team while granting them a 2.0% net smelter return royalty on the project. Concurrently, the company raised $15.525 million through a brokered and non-brokered equity financing, brought in new significant shareholders including Ocean Partners and Eric Sprott, executed a commercial offtake agreement for copper-gold concentrate, and released an updated NI 43-101 inferred mineral resource estimate for Indiana outlining 4.93 million tonnes grading 2.24 g/t gold and 1.31% copper, positioning Galantas to advance mine design, a Preliminary Economic Assessment and further exploration drilling.
More about Galantas Gold
Galantas Gold Corporation is a Toronto-based precious metals company listed on the TSX-V, AIM and OTCQB, focused on gold and copper exploration and development. The company is expanding its portfolio beyond its existing assets through strategic acquisitions and project options, with an increasing focus on the Indiana gold-copper project in Chile and associated concentrate offtake arrangements.
For an in-depth examination of GAL stock, go to TipRanks’ Overview page.