TORONTO, May 30, 2024 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (the 'Company') is pleased to announce its unaudited financial results for the Quarter ended March 31, 2024.
Financial Highlights
Highlights of the first quarter 2024 results, which are expressed in Canadian Dollars, are summarized below:
 All figures denominated in Canadian Dollars (CDN$)
| Quarter Ended
March 31 |
2024 | 2023 |
Revenue | $ | 0 | | $ | 0 | |
Cost and expenses of operations | $ | (17,332) | | $ | (50,215) | |
Loss before the undernoted | $ | (17,332) | | $ | (50,215) | |
Depreciation | $ | (106,226) | | $ | (126,105) | |
General administrative expenses | $ | (1,173,035) | | $ | (1,242,764) | |
Foreign exchange gain (loss) | $ | 119,127 | | $ | 25,470 | |
Unrealized gain on derivative fair value adjustment | $ | 523,850 | | $ | 0 | |
Net (Loss) for the quarter | $ | (653,616) | | $ | (1,393,614) | |
Working Capital Deficit | $ | (11,290,856) | | $ | (11,074,990) | |
Cash loss from operating activities before changes in non-cash working capital | $ | (495,610) | | $ | (475,530) | |
Cash at March 31, 2024 | $ | 1,288,200 | | $ | 2,516,822 | |
Sales revenue for the quarter ended March 31, 2024 amounted to $ Nil compared to revenue of $ Nil for the quarter ended March 31, 2023. Shipments of concentrate commenced during the third quarter of 2019. Concentrate sales provisional revenues totalled US$ 206,566 for the first quarter of 2024 compared to US $ 255,000 for the first quarter of 2023. Until the mine commences commercial production, the net proceeds from concentrate sales are being offset against development assets.
The Net Loss for the quarter ended March 31, 2024 amounted to $ 653,616 (2023: $ 1,393,614) and the cash outflow from operating activities before changes in non-cash working capital for the quarter ended March 31, 2024 amounted to $495,610 (2023: $475,530).
The Company had a cash balance of $1,288,200 at March 31, 2024 compared to $2,516,822 at March 31, 2023. The working capital deficit at March 31, 2024 amounted to $11,290,856 compared to a working capital deficit of $11,074,990 at March 31, 2023.
Safety is a high priority for the Company and we continue to invest in safety-related training and infrastructure. The zero lost time accident rate since the start of underground operations continues. Environmental monitoring demonstrates a high level of regulatory compliance.
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 have been reviewed by Alan Buckley (Chief Financial Officer), the exploration and geological components by Sarah Coulter and the production and permitting components by Brendan Morris (COO), qualified persons under the meaning of NI. 43-101. The information is based upon local production and financial data prepared under their supervision.
多倫多，2024年5月30日（GLOBE NEWSWIRE）——加蘭塔斯黃金公司（“公司”）欣然宣佈其截至2024年3月31日的季度未經審計的財務業績。
財務要聞
以加元表示的2024年第一季度業績要點彙總如下：
 所有數字均以加元（加元）計價
| 季度結束
3 月 31 日 |
2024 | 2023 |
收入 | $ | 0 | | $ | 0 | |
運營成本和開支 | $ | (17,332) | | $ | (50,215) | |
下述之前的損失 | $ | (17,332) | | $ | (50,215) | |
折舊 | $ | (106,226) | | $ | (126,105) | |
一般管理費用 | $ | (1,173,035) | | $ | (1,242,764) | |
外匯收益（虧損） | $ | 119,127 | | $ | 25,470 | |
衍生品公允價值調整的未實現收益 | $ | 523,850 | | $ | 0 | |
本季度淨額（虧損） | $ | (653,616) | | $ | (1,393,614) | |
營運資金赤字 | $ | (11,290,856) | | $ | (11,074,990) | |
非現金營運資金變動前經營活動產生的現金損失 | $ | (495,610) | | $ | (475,530) | |
2024 年 3 月 31 日的現金 | $ | 1,288,200 | | $ | 2,516,822 | |
截至2024年3月31日的季度的銷售收入爲零美元，而截至2023年3月31日的季度收入爲零美元。濃縮物的裝運於2019年第三季度開始。2024年第一季度的集中銷售臨時收入總額爲206,566美元，而2023年第一季度爲25.5萬美元。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2024年3月31日的季度淨虧損爲653,616美元（2023年：1,393,614美元），截至2024年3月31日的季度非現金營運資金變動前的經營活動現金流出爲495,610美元（2023年：475,530美元）。
截至2024年3月31日，該公司的現金餘額爲1,288,200美元，而截至2023年3月31日的現金餘額爲2516,822美元。截至2024年3月31日，營運資金赤字爲11,290,856美元，而截至2023年3月31日，營運資金赤字爲11,074,990美元。
安全是公司的重中之重，我們將繼續投資與安全相關的培訓和基礎設施。自地下作業開始以來的零損失時間事故率仍在繼續。環境監測顯示出很高的監管合規性。
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，勘探和地質部分由莎拉·庫爾特審查，生產和許可部分由NI. 43-101定義的合格人員布倫丹·莫里斯（首席運營官）審查。該信息基於在他們監督下編制的當地生產和財務數據。
