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Resource Estimate

Galantas Gold Completes Acquisition of RDL Mining Corp. and Financings for Aggregate Gross Proceeds of $15.525 Million, and Announces Updated NI 43-101 Mineral Resource Estimate

By The Northwire Desk — AI Analysis Dec 31, 2025 · 10:11 GAL · 0.13 Galantas Gold Corporation
GAL · Price

Executive Summary

  • Galantas Gold completed its acquisition of RDL Mining Corp., issuing ~132 M shares to former RDL shareholders and granting a 0.66% NSR royalty on the Indiana Project.
  • The company closed a brokered private placement of 186.25 M units at $0.08/unit for gross proceeds of $14.9 M and a non‑brokered “shares‑for‑debt” placement of 7.81 M shares to settle a $625 k debt with Ocean Partners.
  • An updated NI 43‑101 inferred resource estimate for the Indiana Project was released: 4.93 Mt at 2.24 g/t Au and 1.31% Cu, containing 355,516 oz Au and 64,690 t Cu; mine design and PEA work have been initiated.

Key Details

  • Acquisition of RDL Mining Corp.
  • Consideration: each former RDL shareholder received ~44 M Galantas shares (total ~132 M shares), representing ~10% of post‑transaction equity.
  • Additional consideration: a 0.66% net smelter return royalty on the Indiana Project (≈2.0% aggregate).

  • New directors/appointees: Lawrence Roulston to Board; Robert Sedgemore as SVP Operations.

  • Brokered Private Placement (Units)

  • Units offered: 186,250,000 (each = 1 share + 1 warrant).
  • Offering price: $0.08 per unit → gross proceeds $14,900,000.

  • Warrants: exercise price $0.12, term 36 months.

  • Non‑Brokered “Shares for Debt” Placement

  • Shares issued: 7,812,500 to Ocean Partners to settle $625,000 debt.

  • Resulting ownership: Ocean Partners ~10.7% of Galantas shares (incl. brokered placement participation).

  • Placement Expenses & Compensation

  • Cash commission to agents: $1,042,750 (7.0% of gross proceeds), reduced to 3.0% on President’s List purchases ($1,100,000).
  • Compensation warrants issued: 13,034,375 (representing 7.0% of Units/Shares sold, reduced to 3.0% for President’s List).

  • Finder’s fee to Harbourfront Wealth Management: $77,000 (7.0% of proceeds from introduced investors).

  • Insider Participation

  • Insiders purchased 10,900,000 units in the offerings.

  • Ocean Partners and Eric Sprott became insiders holding ~10.7% and ~13.1% respectively.

  • Use of Net Proceeds

  • Fund exploration on Indiana Project.
  • Finance Option payments for Indiana Project.

  • General corporate and working‑capital purposes.

  • Updated NI 43‑101 Inferred Resource (Indiana Project)

  • Tonnes: 4,932 kt
  • Grade: 2.24 g/t Au; 1.31% Cu

  • Contained metals: 355,516 oz Au; 64,690 t Cu

  • Project Advancement

  • Mine design and Preliminary Economic Assessment (PEA) workstreams launched.
  • Planned resource‑definition and geotechnical drilling to support underground mine design.

  • Commercial off‑take agreement executed with Ocean Partners for copper‑gold concentrate.

  • Related‑Party Transaction – Melquart Participation

  • Melquart purchased 10,000,000 units at $0.08/unit = $800,000.

  • Post‑transaction ownership: ~12.5% of Galantas shares.

  • Share Capital & Admission

  • Application to admit 132,400,635 shares (from acquisition) + 194,062,500 shares (from placements) on AIM expected around 2026‑01‑06.

  • Post‑admission issued share count: 458,863,772 common shares, no treasury shares.

  • Quotes

  • “The completion of the updated NI 43‑101 mineral resource estimate… provides a solid foundation as we advance mine design and commence the PEA.” – Mario Stifano, CEO

All forward‑looking statements are subject to risks and uncertainties detailed in Galantas’ filings.

Read the original news release →

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