Galantas Gold launches strategic review

9th Aug 2013 15:15

Galantas Gold announced a strategic review of its business which will consider the possible sale or joint venture of all or part of its Northern Ireland properties.The mining company which is listed both in London and Canada, owns and operates an open pit gold mine near Omagh in County Tyrone, Northern Ireland. Roland Phelps, President and Chief Executive, said: "The Omagh gold property has produced excellent results to date with good potential to expand. Our enthusiasm to develop it further from open pit to underground mine remains high."The company has set up a special committee of three independent directors to oversee and engage in the strategic review. Shares in the company were unchanged at 1.25p at 15:27 on Friday. TB