Galane Gold

Primary ticker: TSXV:GG
Stage of development: Production
Primary minerals: Gold
Project to promote: Galaxy

Live financials

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 700,000 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 and has a fully funded plan to restart production in early 2019 with a plan to take production up to 60,000 ounces per annum at an AISC of $700 an ounce.

Management Profile

Nicholas Brodie – CEO

Nocholas 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?

Having successfully transitioned Mupane to a cash positive operation and fully funded the restart of operations at Galaxy Galane Gold would liken to broaden its shareholder base as part of its growth strategy.
As a result it has commenced actively marketing for the first time since its inception and has recently listed on the OTC QB which means it shares can now be electronically traded in North America in US dollars.
It believes that the re-commencement of production in early 2019 should be a catalyst for a re-rating of the companies market valuation.

What recent news would you like to highlight to investors attending?

1 October 2018 – Announces satisfaction of conditions precedent for B2 Earn in option
17 September 2018 – Announces satisfaction of conditions precedent for Barak Facility
15 August 2018 – Release 2nd quarter results with production of 10,088 ounces at a

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Commencement of work at Galaxy to double the size of the operating facilities and development started underground to restart mining operations. Production for the year at Mupane of 32,000 ounces at a cash cost of less than $1,000 per ounce.

6 Months:

Recommencement of production at Galaxy by the end of the first quarter 2019.

12 Months:

Galane production of 5,000 ounces a month at a cash cost of around $1,000 per ounce

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 at the moment is the restart of operations at Galaxy. We have worked extensively over the last 24 months to ensure we have a detailed independent design, 3rd party reviewed mining plan, long lead items ordered, BEE structure in place, DOM app

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.