Galantas Gold boss eyes finance for Omagh mine after permit milestone

Jul 06, 2015, 12:52 PM

The president and chief executive of Galantas Gold (LON:GAL), Roland Phelps, says the company is working to secure finance for its Omagh gold mine after winning a crucial planning permit. Shares in the miner rocketed today to 7.5p as the Northern Irish government issued the firm with a long-awaited planning consent so an underground mine at the Omagh site can now go ahead. “This is the result of three years of hard work,” said the CEO speaking to Proactive Investors. Phelps says Galantas’ strategy is to establish the underground mine as soon as finance is available and look for further expansion of gold resources on the property, which has many un-drilled targets.