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As of 8:10 PM 07/16/14 All times are local (Market data is delayed by at least 15 minutes).

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galane gold ltd (GGGOF) 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 (GGGOF) 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 (GGGOF) Key Developments

Galane Gold Ltd. Reports Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2014

Galane Gold Ltd. reported unaudited consolidated earnings and operating results for the first quarter ended March 31, 2014. For the quarter, the company reported net earnings of $2,121,055. Cash flows from operating activities were $3,218,539. For the quarter, the company produced 9,346 ounces of gold. Total ore mined of 104,170 tonnes at an average grade of 2.20 grams per tonne. Total ore milled of 188,182 tonnes at a head grade of 1.96 grams per tonne.

Galane Gold Ltd. Mines First Ore from Tau Underground

Galane Gold Ltd. announced that it has mined its first ore from Tau Underground. The company has previously disclosed its intention to exploit the reported measured and indicated resource of 128,600 ounces of gold for Tau through underground mining. It commenced the project in the fourth quarter of 2013 and has now completed the forced portal entry at the bottom of the existing Tau pit, installation of the entire infrastructure required, appointment of an underground contractor and the development work required to reach ore. The company has put together a mine plan based on the reported resource to mine approximately 85,000 ounces of gold over the next three and a half years. It is expected that once underground the company will start a comprehensive exploration programme to confirm that the mineralisation continues at depth and expand the existing mine plan.

Galane Gold Ltd. Reports Audited Consolidated Operating Results for the Fourth Quarter and Audited Consolidated Operating and Earnings Results for the Year Ended December 31, 2013

Galane Gold Ltd. reported audited consolidated operating results for the fourth quarter and audited consolidated operating and earnings results for the year ended December 31, 2013. For the quarter, the company produced 11,853 ounces of gold representing its highest quarterly production since first quarter of 2012. For the year, the company produced 38,754 ounces of gold. Total ore mined of 770,449 tonnes at an average grade of 2.04 grams per tonne. Total ore milled of 885,848 tonnes at a head grade of 1.70 grams per tonne. For the year 2013, the company reported net loss before tax of $26,970,550 after charging an impairment of $16,867,329 against mining and exploration properties; a reduction of $955,264 in the carrying value of inventory to its net realizable value; and a reduction in the estimated asset retirement obligation of $2,390,011.


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