BofA update shows where active managers are putting money
TORONTO - Galantas Gold Corporation (TSX-V & AIM:GAL; OTCQX:GALKF), a Canadian public company engaged in gold production and resource expansion in Northern Ireland and exploration in Scotland, has announced the receipt of two loan advances from Melquart Ltd. These loans, dated November 6, 2024, and April 11, 2025, are both secured on the Gairloch lease asset and carry a 12% coupon over a 24-month term.
The first advance from 2024 totaled £76,965, while the second, more recent one from April 2025, amounted to £100,000. The company has stated that these funds are intended for general working capital purposes and the maintenance of the lease at the Gairloch asset, which hosts the Kerry Road gold-bearing VMS deposit.
Galantas Gold Corporation has confirmed that the terms of the loan advances were reviewed and deemed fair and reasonable for the shareholders, in compliance with AIM Rule 13, as assessed by the company’s directors and their Nominated Adviser.
The company operates primarily through its Omagh Project in Northern Ireland, where it aims to increase gold production and resources. The recent financial injections from Melquart are seen as strategic moves to support the company’s ongoing operations and expansion plans.
The news of these loan advances follows the company’s earlier announcement on April 30, 2025, and is based on a press release statement issued by Galantas Gold Corporation. The company is listed on multiple exchanges, including the TSX Venture Exchange and the London Stock Exchange (LON:LSEG) AIM market, as well as the OTCQX Exchange.
Investors and market watchers will likely monitor the company’s use of the acquired capital and its impact on the progress and development of its key assets. The strategic focus on the Omagh and Gairloch projects underscores Galantas’s commitment to growth in gold production and exploration endeavors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.