Northwire Canada EditionThursday, September 3, 2026
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GOLD 4542.80 +2.9% SILVER 67.69 +3.4% COPPER 6.65 +0.8% OIL 91.28 +0.3% PALLADIUM 1434.75 +5.5% GAL 0.650 −3.0% WRX 0.040 +0.0% PHD 0.040 −11.1% DYG 0.135 +8.0% GR 0.070 +0.0% ANOR 0.080 +0.0% ADG 0.500 +0.0% MOON 8.30 +0.7% TRCG 0.180 +0.0% IMG 28.67 +2.6% WRLG 0.895 −0.6% GGD 4.46 +2.2% K 43.34 +3.6% SLR 0.780 −1.3% FFM 1.78 +0.6% GHL 0.050 +0.0% GOLD 4542.80 +2.9% SILVER 67.69 +3.4% COPPER 6.65 +0.8% OIL 91.28 +0.3% PALLADIUM 1434.75 +5.5% GAL 0.650 −3.0% WRX 0.040 +0.0% PHD 0.040 −11.1% DYG 0.135 +8.0% GR 0.070 +0.0% ANOR 0.080 +0.0% ADG 0.500 +0.0% MOON 8.30 +0.7% TRCG 0.180 +0.0% IMG 28.67 +2.6% WRLG 0.895 −0.6% GGD 4.46 +2.2% K 43.34 +3.6% SLR 0.780 −1.3% FFM 1.78 +0.6% GHL 0.050 +0.0%
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Galantas Gold Announces Notification of Change to Significant Shareholding

Seller Catril exits all 10.97%; Alpayana stake at C$0.42 confirmed

By The Northwire Desk — AI Analysis Sep 03, 2026 · 11:09 GAL · 0.67 Galantas Gold Corporation
Executive Summary
  • Galantas Gold Corporation announced a regulatory notification that Luis Enrique Catril Espinoza disposed of 91,313,890 common shares, representing approximately 10.97% of issued shares, to Alpayana S.A.C.
  • The disposal was executed at CAD$0.42 per share for aggregate consideration of CAD$38,351,833.80.
  • The private share purchase agreement is dated August 17, 2026, with completion on August 21, 2026.
  • After the sale, Mr. Catril holds no shares or other securities and has ceased to be a substantial shareholder under AIM Rules.
  • The release states there are no joint actors and that this corresponds to the Alpayana acquisition already announced by the company on August 27, 2026.
  • This is a seller-side early-warning filing, not a new transaction and not a company financing.
Material Impact
  • The most recent release is a follow-on compliance filing. The economic terms, share count, price and acquirer were already disclosed in the August 27, 2026 Alpayana announcement.
  • What is new is limited to confirmation of the seller’s full exit, the absence of joint actors, and the seller-side early-warning report.
  • No new capital is being raised, no change in Galantas share count occurs, and no project cash flow or balance sheet impact arises from this secondary transfer.
  • The C$0.42 price was near the C$0.43 August 17 close but is now below the C$0.65 September 3 market close. However, this price gap was already visible when Alpayana’s purchase was announced, and the market continued to trade higher after that announcement.
  • The market has already absorbed the Alpayana stake: the stock rose from C$0.52 on August 21 to C$0.66 on August 26, then reached C$0.70 on August 27 before consolidating near C$0.65.
  • The seller, Luis Catril, was the former controlling shareholder of Dragones and a related party. His full exit removes a related-party holding, but does not change project ownership, strategy, or liquidity.
  • This release does not improve or miss prior expectations; it is consistent with the already announced ownership change.
GAL · Price
Company Overview
  • Galantas Gold Corporation is a TSXV/AIM-listed gold and copper company that repositioned in 2025-2026 from legacy Northern Ireland assets into Chile.
  • Flagship project: Andacollo Gold Project, Coquimbo Region, Chile, about 55 km southeast of La Serena and adjacent to Teck’s Carmen de Andacollo copper mine.
  • Andacollo is a past-producing open-pit heap-leach gold operation with existing infrastructure, including pits, heap-leach pads, ADR plant, water, power and roads.
  • Historical production at Andacollo is reported at roughly 1.12-1.15 million ounces gold, depending on source, with peak annual production around 135,000 ounces.
  • Updated Andacollo mineral resource estimate, effective February 1, 2026: Indicated 102.4 Mt at 0.45 g/t Au for 1.47 Moz Au; Inferred 347.9 Mt at 0.41 g/t Au for 4.54 Moz Au.
  • No mineral reserves are reported for Andacollo.
  • The company acquired a 20,000 tpd crushing plant for US$4.2 million and retained M3 Engineering for the PEA and plant relocation; the PEA is targeted for Q4 2026 and restart targeted for Q1 2027/H1 2027.
  • Second project: Indiana gold-copper project, Atacama Region, about 40 km from Copiapó. It is held via option from Minera Activa and is a past small-scale producer.
  • Indiana inferred resource, effective December 9, 2025: 4.93 Mt at 2.24 g/t Au and 1.31% Cu, containing 355,516 oz Au and 64,690 t Cu.
  • Indiana drilling was expanded to 12,500 metres. There is a timeline discrepancy between news releases, referencing production by end of 2026, and the investor deck, referencing end of 2027.
  • Management: Mario Stifano, CEO; Andreas L’Abbé, CFO effective July 1, 2026; David Cather, interim chair; Robert Sedgemore, SVP Operations; Dorian L. “Dusty” Nicol, Qualified Person.
Read the original news release →

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Alpayana acquires a 10.97% stake in Galantas through a secondary buy at C$0.42 per share.

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