Galane Gold (TSE:GG) has released an update.
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Golconda Gold Ltd. has announced its 2023 financial results, highlighting a decrease in ore mining and gold production due to operational challenges including flooding, equipment issues, and labor disruptions. Despite these setbacks, the company has secured a $5 million financing deal with Empress Royalty Holding Corp. to enhance mining operations and increase production capacity. Golconda Gold is focused on improving its mining volumes and efficiency by overhauling labor structures and equipment, aiming to capitalize on its significant gold resources and processing plant capacity.
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