Send in the Clowns at GalaneIt's somewhat boggling as to how stupid the crowd in this stock are. To start with Vantage Goldfields was delisted from the ASX due to its main South African subsidiary going bankrupt. Its currently in administration. See here:
https://www.vantagegoldfields.com/documents/lily_mine_press/sr31oct2016.pdf
For those idiots who don't know how to open a pdf it says: "The Mine remains closed and is secured as it is a dangerous area and as such is a no go zone. The Company has employed the services of TSU Security Services a high calibre Security Company to secure the mine as well as its assets".
How is Galane acquiring this asset out of administration? How is it going to buy anything with no money? Read my lips "NO MONEY". Are Vantage's creditors so dumb as to accept more Galane IOUs?
Did you not see that Galane lost over $4.2mn in Q1 alone? Its gold production was dire and well under the amount of ounces it sold. It produced 4,298 oz and sold 5,531. You can't do that if you don't have it to sell, quarter after quarter. Can you? Its costs of mining was nearly 50% higher than its revenues. That takes some doing.
Galane is heading the way of Vantage and the directors are blowing smoke up the posteriors of you bozos.