Galantas Gold Corporation ()() has increased the size of the private placement it first announced in June.
The money raised will now amount to C$637,454, or £376,240. The placement price is £0.1328p per share.
The net proceeds will be used to support mine operations and provide general working capital for the company.
A four-month plus one day hold period will apply to the shares. Insiders of the company are expected to participate.
The gold mine at Omagh continues to deliver limited production of gold concentrate, from the processing of low grade stock. The processing plant uses a non-toxic flotation process to produce concentrates, without the use of cyanide or mercury. It satisfies strict environmental monitoring criteria set by the Northern Ireland regulatory authorities.
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