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Mining Capital

Galantas Gold secures additional finance to advance Omagh Mine

Roland Phelps, chief executive of Galantas Gold Corp (LON:GAL, CVE:GAL), caught up with Proactive's Andrew Scott to discuss two tranches of additional finance which has been negotiated to further develop the Omagh Mine in Northern Ireland.

They've agreed a concentrate prepayment deal for US$1.6mln with Ocean Partners.

Galantas has also increased its on-demand loan facility with G&F Phelps by around US$850,000 (£600,000) to just over US$3mln (£2.15mln).

 

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