Galena Mining jumps on Western Australia project turning cash flow positive

Galena Mining

04/08/2023 06:51

** Shares of Galena Mining  G1A.AX  rise as much as 19.1% to
A$0.10; mark their biggest intraday pct gain since September
2022
    ** Metals miner says its Abra lead-silver project in Western
Australia achieved first positive monthly cash flows in July
    ** Says mining and processing plans for project reaffirmed
for remainder of 2023, with Sept quarter set to generate between
25,000-30,000 tonnes of concentrate
    ** Adds that Sept quarter production will generate revenue
estimated between A$50 mln ($32.85 mln) and A$60 mln and
positive operating cash flows
    ** Stock reaches highest level since July 25
    ** Stock has fallen 66.4% this year, as of last close


($1 = 1.5221 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))