Galantas Gold losses narrow

Galantas Gold Corporation posts a net loss of C$257,214 for the three months to the end of September - down from C$409,880. Losses for the first nine months fell to C$1.3m from $1.5m.

Sales revenues for the third quarter and nine months ended 30 September consisted of jewellery sales and amounted to C$ (1,006) credit and C$28,715 respectively (2015: C$37,262 and C$52,159 respectively). Following the suspension of production during the fourth quarter of 2013 there have not been any shipments of concentrates from the mine.

Cost of sales, which includes production costs and inventory movement, for the third quarter and nine months amounted to C$45,780 and C$255,883 respectively (2015: C$101,871 and C$286,524). Production costs were mainly in connection with ongoing care, maintenance and restoration costs at the Omagh mine site.

At 2:15pm: (LON:GAL) Galantas Gold Corporation share price was 0p at 8.13p