Q3 Results were released this evening on Stockwatch (should be on sedar tomorrow).

Of note, Galane earned $7,759,010 (0.15 / share) for the quarter ending Sept. 30 compared to a loss of $3,894,316 (-0.23 / share) the previous year. 

For the nine month period reported, they earned $19,566,137 or 0.41 / share compared to a loss of $4,252,004 or (-0.61 / share) the year prior.

To date, the company has produced 40,652 ozs gold for the 9 month period with production this most recent quarter of 11,473 ozs as compared to 14,024 in Q2 and 15,155 ozs in Q1.

Also of note, the company had $14,610,134 cash on hand at the end of September which equates to approximately 0.30 / share cash on hand.

The company also continues its aggressive exploration and development plans on previously mentioned zones to replenish and increase reserves as well as continue measures to improve ore recovery and lower costs.

With 0.30 / share cash on hand and its stock currently trading at 0.75 which is less than 2 times trailing earnings (with 0.41 / share already booked for the first 9 mths), Galane Gold appears greatly undervalued based on its metrics.


Have a good evening.