4th Aug 2022 18:27
Galantas Gold Corp - Northern Ireland-focused gold producer - Closes USD530,000 loan agreement with Ocean Partners UK Ltd.
Loan will mature at the end of January 2023, and will bear interest at an annual rate of 12% compounded monthly.
A USD200,000 extension fee will be paid to Ocean will Galantas extends the loan for another six months.
In addition, Galantas reveals dilation zone in Omagh project in Northern Ireland containing gold and silver within ongoing 4,000 metre drilling program.
"The ongoing drilling program has now successfully demonstrated the dilation zone model at both the Kearney and Joshua veins with multiple high-grade intercepts," said Chief Executive Officer Mario Stifano.
"Ongoing development of the underground decline will facilitate deeper drilling and more precise targeting of dilation zones to the south at Kearney, planned later this year," Stifano adds.
Current stock price: 28.45 pence
12-month change: down 30%
By Dayo Laniyan; [email protected]
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