Galantas Gold Corporation (the “Company”) is pleased to announce its unaudited financial results for the quarter ended September 30, 2025.
Financial highlights
Highlights of the third quarter 2025 results in Canadian dollars are summarized below:
| All figures expressed in Canadian dollars (CDN$) | Quarter ended September 30 | |||||
| 2025 | 2024 | |||||
| Gain | $ | 0 | $ | 0 | ||
| Costs and expenses of operations | $ | (15,569) | $ | (22,283) | ||
| Loss before the below | $ | (15,569) | $ | (22,283) | ||
| Depreciation | $ | (90,576) | $ | (110,126) | ||
| General administrative costs | $ | (1,761,260) | $ | (1,174,156) | ||
| Exchange rate gain (loss) | $ | (106,064) | $ | (26,553) | ||
| Unrealized gain on fair value adjustment of derivatives | $ | (156,025) | $ | 592,489 | ||
| Profit on redemption of convertible bonds | $ | 10,470 | $ | 0 | ||
| Loss on sale of interest in subsidiaries | $ | (2,885,663) | $ | 0 | ||
| Net (loss) for the quarter | $ | (5,004,687) | $ | (740,629) | ||
| Shortage of working capital | $ | (2,557,662) | $ | (14,098,845) | ||
| Cash profit/(loss) from operating activities before changes in non-cash working capital | $ | 146,134 | $ | 21,801 | ||
| Cash on September 30, 2025 | $ | 19,943 | $ | 383,011 | ||
Sales revenues for the quarter ended September 30, 2025 were $0, compared to sales of $0 for the quarter ended September 30, 2024. Concentrate deliveries began in the third quarter of 2019. Preliminary concentrate sales revenues totaled US$566,000 for the third quarter of 2025, compared to US$528,000 for the third quarter from 2024. Until the mine begins commercial production, net proceeds from concentrate sales will be applied to development assets.
Net loss for the quarter ended September 30, 2025 was $5,004,687 (2024: $740,629) and cash inflows from operating activities before changes in non-cash working capital for the quarter ended September 30, 2025 were $146,134 (2024: cash inflows $21,801).
The Company had a cash balance of $19,943 at September 30, 2025 compared to $383,011 at September 30, 2024. The working capital deficit at September 30, 2025 was $2,557,662 compared to a working capital deficit of $14,098,845 at September 30, 2024
The Company recorded a loss on sales of interests in subsidiaries of $2,885,663 as of quarter-end September 30, 2025, compared to $nil in the prior period. Flintridge and Omagh are now shown under Investments in Associates on the balance sheet.
Safety is a high priority for the company and we continue to invest in safety-related training and infrastructure. The number of lost-time accidents since the start of underground operations continues. Environmental monitoring demonstrates a high level of regulatory compliance.
The detailed results and Management Discussion and Analysis (MD&A) are available at www.sedar.com and www.galantas.com and the highlights in this press release should be read in conjunction with the detailed results and MD&A. The MD&A provides an analysis of comparisons to prior periods, trends affecting business operations and risk factors.
Qualified person
The financial components of this disclosure have been reviewed by Alan Buckley (Chief Financial Officer) and the production and licensing components by Brendan Morris (COO), qualified persons within the meaning of NI. 43-101. The information is based on local production and financial data compiled under their supervision.
SPECIAL NOTE ABOUT FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including revenue and cost estimates, for the Omagh Gold Project. Forward-looking statements are based on estimates and assumptions made by Galantas in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Galantas believes are appropriate in the circumstances. Many factors could cause Galantas’s actual results and performance to differ materially from those expressed or implied in the forward-looking statements or strategy, including: the volatility of the gold price; discrepancies between actual and estimated production, actual and estimated metallurgical recoveries and throughput; operational mining risk, geological uncertainties; legal restrictions, including environmental regulatory restrictions and liabilities; risks of state involvement; speculative nature of gold exploration; dilution; competition; loss or availability of key employees; additional financing requirements; uncertainties related to planning and other permitting issues; and defective title to mineral claims or properties. These and other factors that may affect Galantas’ forward-looking statements are discussed in more detail in the section entitled “Risk Factors” in Galantas’ Management Discussion & Analysis of Galantas’ financial statements and elsewhere in filings from time to time with Canadian provincial securities regulators and other regulatory authorities. These factors should be carefully considered, and persons reviewing this press release should not place undue reliance on forward-looking statements. Galantas does not intend and undertakes no obligation to update or revise any forward-looking statements contained in this press release, except as required by law.
To ask
Galantas Gold Corporation
Mario Stifano – CEO
E-mail: info@galantas.com
Website: www.galantas.com
Phone: 001 416 453 8433
Grant Thornton UK LLP (Nomad)
Philip Secrett, Harrison Clarke, Elliot Peters
Phone: +44(0)20 7383 5100
SP Angel Corporate Finance LLP (AIM Broker)
David Hignell, Charlie Bouverat (corporate finance)
Grant Barker (sales and brokerage)
Phone: +44(0)20 3470 0470
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