Executive Summary
Galantas Gold Corporation owns and operates the only gold mine in the British Isles.
Located in County Tyrone, Northern Ireland, the mine produces a gold/silver/lead concentrate which is sold under a 'life of mine' contract with Falconbridge, a Canadian subsidiary of Xstrata. Galantas receives 95% of the monthly average values of these three metals, less a fixed processing & shipping charge per tonne of concentrate.
The contract with Falconbridge allows up to 10% of the produced concentrate to be re-directed for speciality processing to provide feed-stock for certified Irish jewellery. The company's wholly owned subsidiary, Galantas® Irish Gold has a unique selling point as the World's only producer of Celtic jewellery made from genuine Irish gold.
Galantas has recently raised funds to expand it's production and commence exploration of it's highly prospective licence area. Having placed 9.95% of the shares in issue at a significant premium to market price with Kenglo One Ltd ( a company owned by Chris Brown, the founder of London Mining PLC ), Kenglo One Ltd have expressed a desire to significantly increase their investment.
Galantas holds 3 exploration licences covering 653 square kilometres in an area which has been subject to concentrated geological mapping by the department of Enterprise, Trade & Investment during their £6.3 millionTellus Project.
Prior to acquiring the Tellus data, Galantas had identified more than 50 exploration targets in it's first licence area, utilising a helicopter born VTEM survey, satellite imagery, chip samples, soil samples, stream samples and trenching. Subsequent to the Tellus survey, the total number of exploration targets over the three license areas has increased to in excess of 120.
