TORONTO, April 25, 2024 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (the 'Company') is pleased to announce its audited annual financial results for the year ended December 31, 2023.
A copy of the Financial Statements and Management Discussion and Analysis will be sent to shareholders in due course and are available on the Company's website at .
The Annual and Special Meeting of the Company is to be held at 11:00 a.m. (Toronto time) on 24th June 2024 at The Canadian Venture Building, 82 Richmond Street East, Toronto, Ontario, M5C1P1, Canada.
Financial Highlights
Highlights of the 2023 audited annual results, which are expressed in Canadian Dollars, are summarized below:
| All figures denominated in Canadian Dollars (CDN$) | Year Ended
December 31
|
| | 2023
| 2022
|
| Revenue | $ | 0 | | $ | 0 | |
| Cost and expenses of operations | $ | (182,295) | | $ | (284,262) | |
| Loss before the undernoted | $ | (182,295) | | $ | (284,262) | |
| Depreciation | $ | (515,003) | | $ | (624,620) | |
| General administrative expenses | $ | (4,243,507) | | $ | (5,401,289) | |
| Foreign exchange (loss) | $ | (233,651) | | $ | (195,938) | |
| Impairment of Exploration and Evaluation Assets | $ | 0 | | $ | 0 | |
| Unrealized gain on derivative fair value adjustment | $ | 241,886 | | $ | 0 | |
| (Loss) / Gain on disposal of property, plant and equipment | $ | 0 | | $ | (2,910) | |
| Impairment | $ | (3,635,570) | | $ | (10,124,920) | |
| Net Loss for the year | $ | (8,568,140) | | $ | (16,633,939) | |
| Working Capital Deficit | $ | (12,599,514) | | $ | (11,027,964) | |
| Cash loss from operating activities before changes in non-cash working capital | $ | (981,283) | | $ | (2,254,291) | |
| Cash at December 31, 2022 | $ | 2,593,265 | | $ | 1,038,643 | |
Sales revenue for year ended December 31, 2023 amounted to $ Nil as per the year ended December 31, 2022. Provisional concentrate sales totalled US$ 1,103,532 for 2023 compared to US $ 608,000 for the year 2022. However, until the mine commences commercial production, the net proceeds from concentrate sales are being offset against development assets.
The Net Loss for the year ended December 31, 2023 amounted to $ 8,568,140 (2022: $ 16,633,939) and the cash outflow from operating activities before changes in non-cash working capital for the year ended December 31, 2023 amounted to $ 981,283 (2022: $ 2,254,291).
The Company had a cash balance of $ 2,593,265 at December 31, 2023 compared to $ 1,038,643 at December 31, 2022. The working capital deficit at December 31, 2023 amounted to $ 12,599,514 compared to a working capital deficit of $11,027,964 at December 31, 2022. Current liabilities include financing facilities and loans.
The detailed results and Management Discussion and Analysis (MD&A) are available on and and the highlights in this release should be read in conjunction with the detailed results and MD&A. The MD&A provides an analysis of comparisons with previous periods, trends affecting the business and risk factors.
Qualified Person
The financial components of this disclosure has been reviewed by Alan Buckley (Chief Financial Officer) and the production and permitting components by Brendan Morris (COO), and the exploration and geological components by Dr. Sarah Coulter, all qualified persons under the meaning of NI. 43-101. The information is based upon local production and financial data prepared under their supervision.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including revenues and cost estimates, for the Omagh Gold project. Forward-looking statements are based on estimates and assumptions made by Galantas in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Galantas believes are appropriate in the circumstances. Many factors could cause Galantas' actual results, the performance or achievements to differ materially from those expressed or implied by the forward looking statements or strategy, including: gold price volatility; discrepancies between actual and estimated production, actual and estimated metallurgical recoveries and throughputs; mining operational risk, geological uncertainties; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign involvement; speculative nature of gold exploration; dilution; competition; loss of or availability of key employees; additional funding requirements; uncertainties regarding planning and other permitting issues; and defective title to mineral claims or property. These factors and others that could affect Galantas' forward-looking statements are discussed in greater detail in the section entitled "Risk Factors" in Galantas' Management Discussion & Analysis of the financial statements of Galantas and elsewhere in documents filed from time to time with the Canadian provincial securities regulators and other regulatory authorities. These factors should be considered carefully, and persons reviewing this press release should not place undue reliance on forward-looking statements. Galantas has no intention and undertakes no obligation to update or revise any forward-looking statements in this press release, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Enquiries
Galantas Gold Corporation
Mario Stifano CEO
Email: info@galantas.com
Website:
Telephone: +44 (0) 2882 241100
Grant Thornton UK LLP (Nomad)
Philip Secrett, Harrison Clarke, Enzo Aliaj, Elliot Peters
Telephone: +44(0)20 7383 5100
S.P Angel Corporate Finance (AIM Broker)
David Hignell, Charlie Bouverat (Corporate Finance)
Grant Barker (Sales and Broking)
Telephone: +44(0)20 3470 0470
多倫多，2024年4月25日（GLOBE NEWSWIRE）——加蘭塔斯黃金公司（“公司”）欣然宣佈其截至2023年12月31日的年度經審計的年度財務業績。
財務報表和管理層討論與分析的副本將在適當時候發送給股東，並在公司網站上查閱，網址爲。
公司的年度和特別會議將於2024年6月24日上午11點（多倫多時間）在加拿大安大略省多倫多市裏士滿東街82號的加拿大風險投資大廈舉行，M5C1P1。
財務要聞
以加元表示的2023年經審計的年度業績要點彙總如下：
| 所有數字均以加元（加元）計價 | 年終了
12 月 31 日
|
| | 2023
| 2022
|
| 收入 | $ | 0 | | $ | 0 | |
| 運營成本和開支 | $ | (182,295) | | $ | (284,262) | |
| 下述之前的損失 | $ | (182,295) | | $ | (284,262) | |
| 折舊 | $ | (515,003) | | $ | (624,620) | |
| 一般管理費用 | $ | (4,243,507) | | $ | (5,401,289) | |
| 外匯（損失） | $ | (233,651) | | $ | (195,938) | |
| 勘探和評估資產減值 | $ | 0 | | $ | 0 | |
| 衍生品公允價值調整的未實現收益 | $ | 241,886 | | $ | 0 | |
| （損失）/處置財產、廠房和設備的收益 | $ | 0 | | $ | (2,910) | |
| 減值 | $ | (3,635,570) | | $ | (10,124,920) | |
| 本年度淨虧損 | $ | (8,568,140) | | $ | (16,633,939) | |
| 營運資金赤字 | $ | (12,599,514) | | $ | (11,027,964) | |
| 非現金營運資金變動前經營活動產生的現金損失 | $ | (981,283) | | $ | (2,254,291) | |
| 2022年12月31日的現金 | $ | 2,593,265 | | $ | 1,038,643 | |
截至2022年12月31日止年度的銷售收入爲零美元。2023年的臨時精礦銷售總額爲1,103,532美元，而2022年爲60.8萬美元。但是，在該礦開始商業生產之前，精礦銷售的淨收益將抵消開發資產。
截至2023年12月31日止年度的淨虧損爲8,568,140美元（2022年：16,633,939美元），截至2023年12月31日止年度的非現金營運資金變動前的經營活動現金流出爲981,283美元（2022年：2,254,291美元）。
截至2023年12月31日，該公司的現金餘額爲2593,265美元，而截至2022年12月31日的現金餘額爲1,038,643美元。截至2023年12月31日，營運資金赤字爲12,599,514美元，而截至2022年12月31日，營運資金赤字爲11,027,964美元。流動負債包括融資設施和貸款。
詳細結果和管理層討論與分析（MD&A）可在上查閱，本新聞稿中的要點應與詳細結果和管理層管理分析一起閱讀。MD&A 分析了與前幾個時期的比較、影響業務的趨勢和風險因素。
合格人員
本披露的財務部分已由艾倫·巴克利（首席財務官）審查，生產和許可部分由布倫丹·莫里斯（首席運營官）審查，勘探和地質部分由莎拉·庫爾特博士審查，他們都是NI. 43-101所指的合格人員。該信息基於在他們監督下編制的當地生產和財務數據。
關於前瞻性陳述的特別說明：本新聞稿包含1995年《美國私人證券訴訟改革法》和適用的加拿大證券法所指的前瞻性陳述，包括Omagh Gold項目的收入和成本估算。前瞻性陳述基於加蘭塔斯根據其對歷史趨勢、當前狀況和預期未來發展的經驗和看法，以及加蘭塔斯認爲適合具體情況的其他因素做出的估計和假設。許多因素可能導致加蘭塔斯的實際業績、業績或成就與前瞻性聲明或戰略所表達或暗示的結果存在重大差異，包括：黃金價格波動；實際和估計產量、實際和估計的冶金回收率和產量之間的差異；採礦運營風險、地質不確定性；監管限制，包括環境監管限制和責任；主權參與的風險；黃金勘探的投機性質；稀釋；競爭；關鍵員工的損失或可用性；額外的資金需求；規劃和其他許可問題的不確定性；礦產索賠或財產的所有權有缺陷。加蘭達管理層對加蘭達財務報表的討論與分析中題爲 “風險因素” 的部分以及不時向加拿大省級證券監管機構和其他監管機構提交的文件中的其他因素詳細討論了這些因素以及其他可能影響加蘭達前瞻性陳述的因素。應仔細考慮這些因素，審查本新聞稿的人不應過分依賴前瞻性陳述。除非法律要求，否則加蘭塔斯無意也沒有義務更新或修改本新聞稿中的任何前瞻性陳述。
多倫多證券交易所風險投資交易所及其監管服務提供商（該術語在多倫多證券交易所風險交易所的政策中定義）均不對本新聞稿的充分性或準確性承擔責任。
根據2018年《歐盟（退出）法》，《市場濫用條例（歐盟）》（歐盟）第596/2014號規定，本公告中傳達的信息被視爲內幕消息，該條例是英國法律的一部分。本公告發布後，該內幕消息現已被視爲公共領域。
查詢
加蘭塔斯黃金公司
馬里奧·斯蒂法諾首席執行官
電子郵件：info@galantas.com
網站：
電話：+44 (0) 2882 241100
Grant Thornton 英國律師事務所（Nomad）
菲利普·塞雷特、哈里森·克拉克、恩佐·阿里亞赫、艾略特·彼得斯
電話：+44 (0) 20 7383 5100
SP 天使企業融資（AIM 經紀商）
大衛·希格內爾，查理·布弗拉特（企業融資）
格蘭特·巴克（銷售和經紀業務）
電話：+44 (0) 20 3470 0470
