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Galane Gold’s Nick Brodie on gold production target updates for 2019

written by InvestorNews | March 22, 2019

“We have two assets. One is already in production. Last year we had best year since 2013, produced 36,000 ounces at all in sustaining cost of $1,050, so cash positive. This year we have a new asset coming online in South Africa called Galaxy Gold and that will be in production next month. We are producing about 9,000 ounces from that this year, but we are ramping up and should be in full production at the end of the year, so next year about 26,000 ounces. We are targeting about 60,000 ounces for next year…” States Nick Brodie, CEO and Director of Galane Gold Ltd. (TSXV: GG), in an interview with InvestorIntel’s Tracy Weslosky.

Tracy Weslosky: You did such a good job a few seconds ago telling me about your competitive advantages. Could you please share that with InvestorIntel audience please?

Nick Brodie: We have two assets. One is already in production. Last year we had best year since 2013, produced 36,000 ounces at all in sustaining cost of $1,050, so cash positive. This year we have a new asset coming online in South Africa called Galaxy Gold and that will be in production next month. We are producing about 9,000 ounces from that this year, but we are ramping up and should be in full production at the end of the year, so next year about 26,000 ounces. We are targeting about 60,000 ounces for next year and a year after that we are looking at expanding again and hopefully be at 90,000 ounces producing in about three years time.

Tracy Weslosky: For all of you InvestorIntel audience members that made so money in cannabis last year, I am trying to get you to diversify and look at gold. One of the things you want to look at are of course are the near producers because obviously if you do that successfully you generally have an uptick. Is that correct?

Nick Brodie: We are highly leveraged to gold. So, if you think you are gold bull, it is a great time to invest in us and top of that you have got the uptick of our organic growth of 90,000 ounces and we are already fully funded. So, there is no need to dilute or go to the market or anything like that to raise further funds…to access the complete interview, click here.