Last C$0.18 CAD
Change Today 0.00 / 0.00%
Volume 0.0
GG On Other Exchanges
Symbol
Exchange
Venture
OTC US
As of 3:42 PM 10/17/14 All times are local (Market data is delayed by at least 15 minutes).

galane gold ltd (GG) Snapshot

Open
C$0.17
Previous Close
C$0.18
Day High
C$0.18
Day Low
C$0.16
52 Week High
08/29/14 - C$0.30
52 Week Low
12/23/13 - C$0.07
Market Cap
9.5M
Average Volume 10 Days
36.8K
EPS TTM
C$0.06
Shares Outstanding
52.7M
EX-Date
--
P/E TM
2.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for GALANE GOLD LTD (GG)

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galane gold ltd (GG) Details

Galane Gold Ltd. is engaged in the exploration for, development of, and operation of gold mining properties in Botswana. It primarily holds interest in the Mupane Property, which is located on the Tati greenstone belt in the Northeastern Province of Botswana in southern Africa. The company is headquartered in Toronto, Canada.

204 Employees
Last Reported Date: 04/8/14

galane gold ltd (GG) Top Compensated Officers

Chairman, Interim Chief Executive Officer, Me...
Total Annual Compensation: C$128.6K
Chief Financial Officer
Total Annual Compensation: C$318.1K
Chief Geologist and Director
Total Annual Compensation: C$266.8K
General Manager
Total Annual Compensation: C$131.9K
Compensation as of Fiscal Year 2013.

galane gold ltd (GG) Key Developments

Galane Gold Ltd. Enters into $5 Million Loan Facility and Gold Prepayment Agreement with Samsung C&T U.K. Limited

Galane Gold Ltd. announced that it has entered into a secured $5 million loan facility and gold prepayment agreement with Samsung C&T U.K. Limited. Pursuant to the agreement, Samsung has agreed, subject to certain conditions, to provide a $5 million loan facility to Galane Gold in return for the sale and delivery by the Company's Botswana operating subsidiary, Mupane Gold Mining (Pty) Ltd. of a minimum of 1,607 ounces of gold per month for a period of two years (38,568 ounces in aggregate) payable by Samsung at a fixed discount rate to the then prevailing spot price upon delivery. The loan facility is repayable by the Company over the two year period by way of 18 equal principal payments commencing seven months after the initial advancement of the facility. The facility shall be secured first by a pledge of the shares of Mupane and then replaced with a first charge against the assets of Mupane. Using recent industry forecasts on gold price, it is anticipated that the arrangement will have an approximate cost of capital of 9.1% per annum. The arrangement requires neither hedging nor share dilution. The advancement of the facility is subject to certain conditions precedent and is expected to close on or about August 29, 2014. The company intends to use the proceeds of the facility to repay early and in full the outstanding debt and accrued interest owed to IAMGOLD Corporation with the balance for general corporate and working capital purposes. With the repayment of this debt, all related covenants at the parent company level of Galane Gold including those prohibiting the payment of dividends, share repurchases, and certain other corporate activities will be removed, allowing the company significant additional flexibility in its pursuit of shareholder value creation.

Galane Gold Ltd. Announces Unaudited Consolidated Earnings and Production Results for the Second Quarter and First Half Ended June 30, 2014

Galane Gold Ltd. announced unaudited consolidated earnings and production results for the second quarter ended June 30, 2014. For the quarter, the company reported revenue of $10.8 million, earnings from mining operations of $0.2 million compared to revenue of $14.0 million, loss from mining operations of $23.8 million reported in the same period last year. Net loss was $0.7 million or $0.01 per diluted share against $26.1 million or $0.51 per diluted share reported last year. Loss before taxation was $0.7 million against $24.3 million reported last year. Cash flows from operating activities were $2.5 million. For the first half year, the company reported revenue of $23.2 million, earnings from mining operations of $2.8 million compared to revenue of $26.2 million, loss from mining operations of $27.9 million reported in the same period last year. Net earnings were $1.4 million or $0.03 per diluted share against net loss of $30.3 million or $0.60 per diluted share reported last year. Earning before taxation was $1.4 million against loss before taxation of $28.5 million reported last year. Cash flows from operating activities were $5.7 million against cash used in operating activities of $0.5 million reported last year. Mining assets acquired was $5.8 million against $6.7 million reported last year. The company produced 7,196 ounces of gold at Mupane Property compared to 9,530 ounces of gold produced in the same period last year. Processing and gold production in the quarter was detrimentally effected by the failure of the SAG mill motor in May 2014. Total ore milled was 181,000 tonnes against 229,000 tonnes reported last year. Total ore mined was 137,114 tonnes at an average grade of 1.92 grams per tonne. In the first half year, the company produced 16,541 ounces of gold at Mupane Property compared to 16,960 ounces of gold produced in the same period last year. Total ore milled was 369,000 tonnes against 442,000 tonnes reported last year.

Galane Gold Ltd. Commissions New Screening Plant at its Operations in Botswana

Galane Gold Ltd. announced that it has commissioned a new screening plant at its operations in Botswana. The $295,000 capital cost for the acquisition and construction of the plant was funded from the Company's operating cash flows. The screening plant is fed from the ROM pad by direct tipping and feeds the processing plant crushed ore stockpile.

 

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Valuation GG Industry Range
Price/Earnings 2.8x
Price/Sales 0.2x
Price/Book 0.3x
Price/Cash Flow 4.3x
TEV/Sales NM Not Meaningful
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