Galantas Report Financial Results for the Quarter Ended March 31, 2025

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[{"type":"text","content":"Galantas Report Financial Results for the Quarter Ended March 31, 2025\n\n\n\n TORONTO, May 29, 2025 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (the ‘Company’) is pleased to announce its unaudited financial results for the Quarter ended March 31, 2025.\n \n\n\n Financial Highlights\n \n\n\n Highlights of the first quarter 2025 results, which are expressed in Canadian Dollars, are summarized below:\n \n\n\n\n\n\n\n\n\n All figures denominated in Canadian Dollars (CDN$)\n \n\n\n Quarter Ended\n \n March 31\n \n\n\n\n\n\n\n 2025\n \n\n 2024\n \n\n\n\n Revenue\n \n\n $\n \n\n 0\n \n\n $\n \n\n 0\n \n\n\n\n Cost and expenses of operations\n \n\n $\n \n\n (14,935)\n \n\n $\n \n\n (17,332)\n \n\n\n\n Loss before the undernoted\n \n\n $\n \n\n (14,935)\n \n\n $\n \n\n (17,332)\n \n\n\n\n Depreciation\n \n\n $\n \n\n (89,792)\n \n\n $\n \n\n (106,226)\n \n\n\n\n General administrative expenses\n \n\n $\n \n\n (1,087,488)\n \n\n $\n \n\n (1,173,035)\n \n\n\n\n Foreign exchange gain (loss)\n \n\n $\n \n\n 243,500\n \n\n $\n \n\n 119,127\n \n\n\n\n Unrealized gain / (loss) on derivative fair value adjustment\n \n\n $\n \n\n 365,290\n \n\n $\n \n\n (523,850)\n \n\n\n\n\n Net (Loss) for the quarter\n \n\n\n $\n \n\n (1,225,116)\n \n\n $\n \n\n (653,616)\n \n\n\n\n Working Capital Deficit\n \n\n $\n \n\n (17,274,760)\n \n\n $\n \n\n (11,290,856)\n \n\n\n\n Cash loss from operating activities before changes in non-cash working capital\n \n\n $\n \n\n (51,250)\n \n\n $\n \n\n (495,610)\n \n\n\n\n Cash at March 31, 2025\n \n\n $\n \n\n 729,387\n \n\n $\n \n\n 1,288,200\n \n\n\n\n\n\n\n\n Sales revenue for the quarter ended March 31, 2025 amounted to $ Nil compared to revenue of $ Nil for the quarter ended March 31, 2024. Shipments of concentrate commenced during the third quarter of 2019. Concentrate sales provisional revenues totalled US$ Nil for the first quarter of 2025 compared to US $ 207,000 for the first quarter of 2024. Until the mine commences commercial production, the net proceeds from concentrate sales are being offset against development assets.\n \n\n The Net Loss for the quarter ended March 31, 2025 amounted to $ 1,225,116 (2024: $ 653,616) and the cash outflow from operating activities before changes in non-cash working capital for the quarter ended March 31, 2025 amounted to $51,250 (2024: $432,610).\n \n\n The C...

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