Galantas Gold Announces Notification of Change to Significant Shareholding
Seller Catril exits its 10.97% stake in Alpayana at C$0.42 per share.
Galantas Gold Corporation announced 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 an 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.
Galantas Gold Corporation (GAL) issued a follow-on compliance filing regarding the recent transaction, confirming details already disclosed in its August 27, 2026, announcement concerning Alpayana. The filing serves primarily to confirm the seller’s full exit, the absence of joint actors, and the submission of the seller-side early-warning report.
The transaction involves a secondary transfer, meaning no new capital is being raised, there is no change in the Galantas share count, and no impact arises on project cash flow or the balance sheet. The shares were sold at C$0.42, a price near the C$0.43 close on August 17 but below the C$0.65 close on September 3. This price gap was visible at the time of Alpayana’s purchase announcement, and the market continued to trade higher following that initial disclosure.
Market reaction to the Alpayana stake acquisition saw the stock rise from C$0.52 on August 21 to C$0.66 on August 26, before reaching C$0.70 on August 27 and 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 alter project ownership, strategy, or liquidity. The release is consistent with the already announced ownership change and does not deviate from prior expectations.
Galantas Gold Corporation, a TSXV/AIM-listed gold and copper company, has repositioned its portfolio from legacy Northern Ireland assets into Chile for the 2025-2026 period. The company’s flagship asset is the Andacollo Gold Project, located in the Coquimbo Region of Chile, approximately 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 featuring existing infrastructure, including pits, heap-leach pads, an ADR plant, water, power, and roads. Historical production at Andacollo is reported at roughly 1.12-1.15 million ounces of gold, depending on the source, with peak annual production reaching around 135,000 ounces.
An updated mineral resource estimate for Andacollo, effective February 1, 2026, indicates 102.4 million tonnes at 0.45 g/t Au for 1.47 million ounces of gold in the Indicated category, and 347.9 million tonnes at 0.41 g/t Au for 4.54 million ounces of gold in the Inferred category. No mineral reserves are currently reported for Andacollo. The company has acquired a 20,000 tonnes per day crushing plant for US$4.2 million and retained M3 Engineering for the preliminary economic assessment (PEA) and plant relocation. The PEA is targeted for completion in Q4 2026, with a restart targeted for Q1 2027 or H1 2027.
The company also holds the Indiana gold-copper project in the Atacama Region, located about 40 km from Copiapó. Held via an option from Minera Activa, Indiana is a past small-scale producer. An inferred resource estimate effective December 9, 2025, reports 4.93 million tonnes at 2.24 g/t Au and 1.31% Cu, containing 355,516 ounces of gold and 64,690 tonnes of copper. Drilling at Indiana has been expanded to 12,500 metres. There is a timeline discrepancy between news releases, which reference production by the end of 2026, and the investor deck, which references the end of 2027.
Management includes CEO Mario Stifano, CFO Andreas L’Abbé effective July 1, 2026, interim chair David Cather, SVP Operations Robert Sedgemore, and Qualified Person Dorian L. “Dusty” Nicol.