https://www.miningweekly.com
Africa|Botswana|Exploration|Gold|Mining|PROJECT|Operations
Africa|Botswana|Exploration|Gold|Mining|PROJECT|Operations
africa|botswana|exploration|gold|mining|project|operations

Galane’s South African project generates positive cash flows in Oct

15th November 2019

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

Unhedged gold producer and explorer Galane Gold’s Galaxy operation, in South Africa, generated positive cash flows from operations during October.

During the month, Galaxy dispatched 748 t of concentrate at an average grade of 33.18 g/t with payable gold of 598 oz.

The revenue generated covered the mining costs at Princeton, the tailings retreatment programme and the associated processing costs to produce the concentrate.

Commenting on this important step for Galaxy, Galane CEO Nick Brodie said the company expected Galaxy to subsidise its own capital expansion.

He also described the positive cash flows as “a giant stride” towards Galaxy being self-funding as the company nears the completion of its first planned plant expansion to 30 000 t a month.

TSX-V-listed Galane has mining operations and exploration tenements in Botswana and South Africa.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

Showroom

Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.172 0.208s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: