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5.9¢ galena mining limited

I know Sandfire is hungry for more ore at their Degrussa mill....

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Aye_yoU

80 Posts.

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28/07/20

19:01

Post #: 46133610
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Originally posted by BobbyKennedy: ↑

This is great. For me, the sign that it was close was the CR. They clearly needed a bit more equity in the mix and now that they have it, debt is ready to roll.

Very pleased with Galena and the Board and management. Kicking goals.

I'm reluctant to predict whether this news alone will move the price but if I had to, I'd say it won't move it much. Hopefully head back to 30c but I think most of this is built into the price as the risk not getting finance was quite low IMO. But will the continuation of construction of the mine and processing plant over he next 6-12mths add value? Most definitely.

If anyone was going to launch a bid for G1A, now would be the time to do it. You don't want the company spending too much cash and building infrastructure if it's different to how you envisaged the mine and plant to operate.

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I know Sandfire is hungry for more ore at their Degrussa mill. They have enough ore till mid 2022. Not sure if Galenas deposit is too far from them though. Also unsure as to whether they would want to reconfigure the plant to extract lead instead of copper.

Hopefully Galena can drill out a good copper/gold resource..

G1A Price at posting: 25.0¢ Sentiment: Buy Disclosure: Held
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