Galantas Gold Announces Notification of Significant Shareholding
Alpayana acquires a 10.97% stake in Galantas through a secondary buy at C$0.42 per share.
Galantas Gold Corporation (GAL) announced on August 27, 2026, that it was notified on August 26 that Alpayana S.A.C. acquired 91,313,890 common shares on August 21, 2026, at CAD$0.42 per share, for a total consideration of CAD$38,351,833.80. The transaction was executed via a private share purchase agreement with a third-party seller. Prior to this acquisition, Alpayana held no shares in Galantas. Following the transaction, Alpayana owns 10.97% of the issued and outstanding common shares on a non-diluted basis. Alpayana confirmed it has no joint actors in the acquisition.
Galantas CEO Mario Stifano welcomed Alpayana as a strategic, long-term shareholder, describing it as a private mining group with four decades of operations in Peru and Mexico. No new shares were issued by Galantas, and the company received no cash proceeds from the transaction.
The 91,313,890 shares acquired match the block previously associated with Luis Catril under the Dragones acquisition. Previous releases stated that Mr. Catril held 91,313,890 shares as variable consideration. While the current release does not name the seller, the matching share count suggests this is a sale of the Catril block to Alpayana rather than a new financing.
Alpayana’s entry marks a first-time strategic investment by a substantial private mining group, validating Galantas Gold Corporation’s Chilean portfolio and providing the company with a new long-term strategic holder. The transaction involves the purchase of shares at CAD$0.42, a price below the market value of CAD$0.52 on 2026-08-21 and CAD$0.68 by 2026-08-27. If the seller is Luis Catril, the deal represents a rotation of a related-party block rather than fresh issuer demand, and no new capital entered Galantas. The share price had already risen strongly prior to the announcement, suggesting the news may not fully account for the recent market movement.
Operationally, the investment does not alter the company’s stated timelines. The Andacollo Preliminary Economic Assessment (PEA) is targeted for completion in Q4 2026, with a restart aimed for H1 2027. Regarding Indiana, management discussion and Q2 2026 commentary state a production target of the end of 2026, while the investor presentation indicates an end-of-2027 timeline. The Alpayana stake serves as a positive signal but remains cash-neutral and should be assessed alongside the company’s remaining funding needs.
Galantas Gold Corporation, a junior gold and copper company listed on the TSX-V and AIM, has shifted its operational focus from Northern Ireland to Chile, where it now holds two primary assets. The company’s flagship asset is the Andacollo Gold Project in the Coquimbo Region, a past-producing open-pit heap-leach gold operation. An updated mineral resource estimate effective February 1, 2026, defines 102.4 million tonnes of indicated resources grading 0.45 grams per tonne for 1.47 million ounces of gold, alongside 347.9 million tonnes of inferred resources grading 0.41 grams per tonne for 4.54 million ounces of gold. The site benefits from existing infrastructure, permits, an ADR plant, water, and roads. Additionally, Galantas acquired a 20,000 tonnes per day crushing plant for US$4.2 million. The company targets a preliminary economic assessment for the fourth quarter of 2026 and a restart in the first half of 2027.
The second project is the Indiana Gold-Copper Project in the Atacama Region, which holds an inferred resource of 4.93 million tonnes grading 2.24 grams per tonne of gold and 1.31% copper, containing 355,516 ounces of gold and 64,690 tonnes of copper. A drill program has been expanded to 12,500 meters, with assays currently pending. Production timelines for the project remain inconsistent across filings, with management commentary suggesting an end-of-2026 target, while an investor presentation indicates a target of the end of 2027.