Galane Gold is a greenstone gold producer with a management team which boasts extensive experience in turning around challenging mining operations across the globe. Galane currently owns two assets Mupane Gold Mine in Botswana, which has produced over 750,000 ounces, with an annual production forecast of over 30,000 ounce a year going forward at a forecast AISC of approximately $1,050 an ounce. Galaxy Gold located in South Africa which has produced over 1 million ounces historically which recommenced production in early 2019 with a plan to take production up to 60,000 ounces per annum at an AISC of $700 an ounce.
Nicholas Brodie, CEO
Joined Galane Gold in October 2012 as the CFO and was promoted to CEO in November 2014. Under his stewardship Galane has transitioned its main asset Mupane from a short life, high cost open pit mine to a long life, low cost underground operation. He was previously the CFO of Katanga Mining (DRC), an advisor at Metallon Gold (Zimbabwe), CFO of Copperbelt Energy Corporation (Zambia) and Head of Finance at Total SA. A Fellow member of the Chartered Certified Accountants and a B.Sc (Hons) Geography.
Wayne Hatton-Jones COO – Mining Professional with 27 years experience in Africa, Asia and Europe. The former GM (Goldridge), GM Metallurgy (Avocet), Process Manager (Randgold) and Metallurgical Manager (Harmony). Has a Metalurgical B.Sc. (Witwatersrand) and MDP (University of South Africa)
What is your rationale for attending 121 Mining Investment?
General update on progress and to discuss financing requirements to expand production at Galaxy
What recent news would you like to highlight to investors attending?
The recommencement of production at Galaxy which is now generating positive operating cash flows.
What are your key goals for the next 3, 6 and 12 months?
Completion of plant upgrade at Galaxy to 50,000 tonnes per month
Study to confirm plan to increase production at Galaxy to 60,000 ounces per annum
Commencement of mining in the Galaxy ore body
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Our key risk is the ramp up of production at Galaxy. We have a robust plan which to date we have accomplished but it will take over two years to get to full production.
In a sentence, what do you think makes your company such a compelling investment?
Galane has a strong management team that has transitioned Mupane to a cash positive long life asset, that management team now has the potential to triple its production and reduce its costs even further and we believe that this provides the potential for a material re-rating of its valuation.