- Galane Gold (GG) has commenced commercial production at its Galaxy operations in South Africa
- Galane’s management has provided a production forecast for the next two years that include payable gold production of between 15,500 to 18,500 ounces in 2022
- Galane is also reviewing options to increase production through the exploitation of the 21 other mineralised bodies at Galaxy
- Galane Gold is a gold producer and explorer with mining operations and exploration tenements in Botswana, South Africa and New Mexico
- Galane Gold Ltd. (GG) opened trading at C$0.12 per share
Galane Gold (GG) has commenced commercial production at its Galaxy operations in South Africa.
During the final quarter of 2021, production at Galaxy has continued to increase and as a result, the operation is considered to have started commercial production. This is in line with the company’s expectations and represents a significant milestone for Galane.
Nick Brodie, CEO of Gelane sat down with Caroline Egan to discuss the news.
“The results at Galaxy continue to exceed our expectations and we intend to provide the market with an update in the second quarter of 2022 on the impressive results we are seeing from our grade control drilling at the Galaxy ore body on the initial 22 level.”
Galane’s management has provided a production forecast for the next two years and can provide the following guidance:
- 2022 – Payable gold ounces of between 15,500 to 18,500 at an all-in sustaining cost of between $900 to $1,000
- 2023 – Payable gold ounces of between 24,000 to 27,000 at an all-in sustaining cost of between $750 to $850
Galane is also reviewing options to increase production through the exploitation of the 21 other mineralized bodies at Galaxy. Based on the current forecasted production, as of the end of 2023, Galaxy will be operating at 70 per cent of the current plant capacity.
Galane Gold is a gold producer and explorer with mining operations and exploration tenements in Botswana, South Africa and New Mexico.
Galane Gold Ltd. (GG) opened trading at C$0.12 per share.