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Galantas Report Financial Results for the Quarter Ended March 31, 2026
TORONTO, ON / ACCESS Newswire / May 26, 2026 / Galantas Gold Corporation (the "Company") is pleased to announce its unaudited financial results for the
About this update from Galantas Gold Corporation
[{"type":"text","content":"\n \n TORONTO, ON / ACCESS Newswire / May 26, 2026 / Galantas Gold Corporation (the \"Company\") is pleased to announce its unaudited financial results for the quarter ended March 31, 2026.\nQ1 2026 Financial Highlights\nHighlights of the first quarter 2026 results, which are expressed in Canadian Dollars, are summarized below:All figures denominated in Canadian Dollars (CDN$)Quarter EndedMarch 31 20262025Revenue$0$0Cost and expenses of operations$(457,816)$(14,935)Loss before the undernoted$(457,816)$(14,935)Depreciation$0$(89,792)General administrative expenses$(1,605,236)$(1,087,488)Foreign exchange gain (loss)$(165,741)$243,500Unrealized (loss) / gain on derivative fair value adjustment$(85,383)$(365,290)Share of loss on investment in associate$(40,650)$0Write-up of prepaid expenses$0$88,889Net (Loss) for the year$(2,354,826)$(1,225,116)Working Capital Surplus/(Deficit)$4,961,145$(17,274,760)Cash gain/(loss) from operating activities before changes in non-cash working capital$(2,076,233)$51,250Cash at March 31, 2026$10,822,694$729,387Sales revenue for the quarter ended March 31, 2026 amounted to $ Nil compared to revenue of $ Nil for the quarter ended March 31, 2025. Shipments of concentrate commenced during the third quarter of 2019. Concentrate sales provisional revenues totalled US$ 566,000 for the year 2025 compared to US$ 853,591 for 2024. Until the Indiana mine reaches commercial production, the net proceeds from concentrate sales are being offset against development assets.\nThe Net Loss for the quarter ended March 31, 2026 amounted to $ 2,354,826 (2025: $ 1,225,116) and the cash outflow from operating activities before changes in non-cash working capital for the quarter ended March 31, 2026 amounted to $2,076,233 (2025: gain $51,250).\nThe Company had a cash balance of $ 10,822,694 at March 31, 2026 compared to $ 729,387 at March 31, 2025. The working capital surplus at March 31, 2026 amounted to $ 4,961,145 compared to a working capital deficit of $ 17,274,760 at March 31, 2025.\nSubsequent Events\nOn May 4, 2026, Galantas announced an updated mineral resource estimate for the Andacollo Project and the filing of the Technical Report titled \"Mineral Resource Estimate Update, Andacollo Oro Gold Project, Coquimbo Region, Chile\", with an effective date of February 1, 2026, prepared DRA Americas Inc., in accordance wit...