12th May 2020 15:16
(Alliance News) - Galantas Gold Corp on Tuesday said it expects to restart milling operations within the next ten days at its mine near Omagh, Northern Ireland after reaching an agreement with the police service.
On April 2, Galantas said it had received confirmation from the Police Service of Northern Ireland regarding blasting at the mine with regard to the "satisfaction of certain secure storage and handling protocols required for an increase in blasting to a commercial level".
A number of other issues concerning "financial matters" were also in progression. Mutual agreement on the financial matters has been reached.
While the staff who were operating the processing plant had been furloughed due to the Covid-19 pandemic, milling operations are now set to restart in the next ten days, working from the current stock of low-grade material.
Maintenance continued at the plant while milling was on hold to prevent any interruptions going forward.
Galantas will apply health advice from the UK and Northern Irish government as well as a risk assessment.
However, while some underground work will continue, ore production remains suspended until finance becomes available for expanding the underground operation.
"Discussions with a number of parties continue in terms of a corporate action involving a potential sale or joint venture. Due diligence materials continue to be processed," said Galantas.
Shares in Galantas were up 1.8% at at 21.88 pence in London on Tuesday afternoon.
By Anna Farley; [email protected]
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