Galantas & EquinoxI dont think they will have funds to do drilling this year. Probably end of next year. Their focus is finishing this mine development to get producer status and they're relying on increased cashflow from the ore to fund the rest of construction as they get deeper once the PP money is exhausted.
Somebody mentioned equinox...note that i looked hard at equinox once it was formed and considered investing. It was formed on the backbone of RB's failed brazil venture (anfield) before the 3 way merger. All its assets are in the high quartile AISC ($900-1100/oz) and will need a higher gold price for it to go higher. a higher gold price will make every gold company rise. shouldnt be comparing Equinox and Galantas. Correct me if wrong but AISC for Galantas is the 700 range. Equinox, as a mine operator, may have lower risk, but normally lower risk means lower return. Whereas Galantas is still in development, not yet re-rated as a producer, and the resource is low compared to Dalradian (under explored). Dont forget Dalradian IS THE BEST mine project by grade out there awaiting permits. And nobody is able to participate in its equity now. Retail doesnt believe in Northern Ireland. Yet, Blackrock and a lot of the major players were all in Dalradian (Sprott, Ned Goodman, Ross Beaty, Osisko). Why else did ross beaty initially take 19.99% interest of Galantas ? He's a geologist and its all about exploration upside. Galantas is an Orogenic gold deposit just like Dalradian. Orogenic gold deposits occur in clusters along a large trend and it is not atypical to see many mines within a 40-60 km trend/district ie Dalradian and galantas being one (They are 6km apart from each other). When Phelps said Galantas was targeting 3 m oz. IMO he got this target number from Beaty or his Beaty's Geos.
One thing i do not follow is heavy promotion especially when a stock hasnt really been moving since IPO.
not here for a double or triple. Im in for possibility of 10x + gain.
(Rick Rule once said that every ross beaty 10 bagger lost 50% before it made its monster move to 10x)