Galantas Gold planning consent confirmed by Court of Appeal

23rd Nov 2018 15:30

(Sharecast News) - Gold-mine developer and explorer Galantas Gold Corporation announced on Friday afternoon that the Court of Appeal had delivered its judgement in regard to an appeal against its planning consent.The AIM-traded firm said the court had determined that the appeal had failed, and thus the planning consent was confirmed."An applicant sought to have the company's planning consent for its Omagh gold mine quashed via a judicial review in Belfast's High Court," the company said in its statement."The company's consent was confirmed as a result of that judicial review."The applicant appealed against that decision in the Court of Appeal and it is this judgement that has again confirmed the planning consent."Galantas said it would proceed with the proposed private placing as notified on 19 November, explaining that it continued to be dependent on the funding for working capital, and to bring the Omagh gold mine into commercial production.The placing remained subject to formal confirmations from placees and the TSXV, as well as regulatory approval.Restoration of Galantas Gold's shares to trading on AIM occurred at 1300 GMT on Friday, after a suspension was confirmed earlier in the morning.