Galantas Gold Corporation (AIM:GAL), the gold and copper company advancing the Indiana Project in Chile, on Tuesday announced its quarterly results update in which it highlighted a recent funding success.
On 11 May, it announced a brokered private placement aiming to raise up to CA$85m, through units priced at CA$0.55 each, whilst the results themselves showed a net loss of CA$2.35m, for the quarter ended March 31, versus a loss of CA$1.23m a year earlier.
Cash flow from operations before working capital was an outflow of CA$2.08m for the quarter compared with a CA$51,250 inflow in Q1 2025.
Galantas ended the quarter with CA$10.82m of cash and a working capital surplus of CA$4.96m, versus CA$0.73m cash and a CA$17.27m working capital deficit a year earlier, while sales revenue for the quarter was nil as concentrate proceeds continue to be offset against development assets until Indiana reaches commercial production.
Also, it noted that, on 4 May, the company filed a NI 43-101 technical report updating the Andacollo mineral resource estimate, and subsequent to quarter-end.
