Galantas Gold Corp
. (TSX: V.GAL
, Stock Forum
) said that heads of terms have been agreed for the production, marketing and sale of a tightly specified range of jewellery products, using Galantas Irish gold.
According to the Galantas Gold press release
, the arrangement, with TJH Ltd. of Dublin, Ireland (TJH), is subject to preparation of a detailed contract and sees Galantas Irish gold, produced from the company's Omagh mine being sold to TJH at a material premium to and above a minimum London Metal Bullion price, with an additional royalty on sales payable on a quarterly basis.
TJH is an established jewellery marketer and manufacturer, having developed other brands, including Irish oriented brands, previously.
Galantas has 100% ownership of the only working gold mine in Ireland, which is located near Omagh, County Tyrone.
On Thursday, Galantas rose 25% and was trading at $0.025 a share. The company had a market cap of $6.4 million, based on 256.2 million shares outstanding.
CASH-RICH HIDDEN GEMS
Don't have time to comb through thousands of small-cap stocks to find the next 10 bagger? 30-year small cap veteran, Danny Deadlock, does the grunt work for you by uncovering the world's best, cash-rich small-cap stocks that are undervalued by 25% or more so you can ride them to fortune-building profits before Wall Street has the chance to scoop them up.
Tell me more...