12th Aug 2026 13:32
(Alliance News) - Galantas Gold Corp on Wednesday issued an update on the planned preliminary economic assessment for its Andacollo Gold project in Chile.
The mining and exploration company, which is focused on producing gold and copper from its assets in Northern Ireland and Chile, has chosen M3 Engineering & Technology Corp to lead the PEA.
M3 will also be leading the relocation of the crushing plant from Mexico to the Andacollo site, Galantas noted.
It said it aims to complete the PEA in the fourth quarter of this year.
"Our priorities remain safe execution, capital discipline and cost control as the company advances toward a potential restart, currently targeted for the first quarter of 2027," Galantas Chief Executive Officer Mario Stifano commented.
Additionally, Galantas said NCL Ingenieria y Construccion Ltda is working to advance the mine design and production schedules for the restart and expansion scenarios. It also said that STRACON is providing early contractor involvement and practical input into mining fleet requirements, operating costs, mine infrastructure, pit dewatering, truck-shop refurbishment, contractor mobilisation and mining execution planning.
"The existing site infrastructure, together with the acquired crushing plant is expected to lower the capital intensity to restart operations, shorten the restart schedule and reduce execution risk compared with the development of a comparable greenfield operation," Galantas stated. "In addition, the company's current budget and available financing are expected to support the planned restart activities described herein."
Galantas shares were 2.0% higher at 25.00 pence on Wednesday afternoon in London.
By Emma Curzon, Alliance News reporter
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