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An update from Galleon Gold ( (TSE:GGO) ) is now available.
Galleon Gold has completed the repurchase and full extinguishment of a 3% net smelter return royalty on its West Cache Gold Project from a Newmont subsidiary, paying a total of $11 million to make the project’s principal resource 100% free of such royalties. Management says removing this royalty at the pre-development stage materially improves the project’s long-term economics and positions the company to capture more upside as West Cache advances toward development, supporting its broader strategy of de-risking and enhancing shareholder value.
More about Galleon Gold
Galleon Gold Corp. is a Canadian mining company focused on advancing its West Cache Gold Project in Ontario. The company is pursuing a disciplined, de-risking strategy centered on resource growth and an upcoming 86,500-tonne bulk sample program, aimed at unlocking long-term value for shareholders in the gold mining sector.
Average Trading Volume: 349,857
Technical Sentiment Signal: Buy
Current Market Cap: C$82.18M
For an in-depth examination of GGO stock, go to TipRanks’ Overview page.