Galane Gold Ltd.
Galane Gold Ltd. is an un-hedged gold producer and explorer with mining operations and exploration tenements in Botswana and South Africa. Galane Gold’s management team is comprised of senior mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programs. Galane Gold is committed to operating at world-class standards and is focused on the safety of its employees, respecting the environment, and contributing to the communities in which it operates.
PROJECTS IN HAND
Galane Gold Ltd. operates through its wholly-owned subsidiaries Mupane Gold Mining (Pty) in Botswana and Galaxy Gold in South Africa.
(1) Mupane Gold Project, Botswana
Galane’s 100%-owned Mupane gold mine is located in Northeastern Botswana, 30km South East of Francistown, it is Galane Gold’s first major gold producer and since 2005 has produced over 640,000 oz of Gold.
Mupane gold mine has an underground and open pit mining plan currently focusing on its newly developed underground decline in the Tau orebody. The Processing plant consists of crusher, mill, floatation and CIL with recently added gravity gold to improve on recovery of free gold ore.
Mupane mine prides itself on being the only major gold producer of Botswana with excellent relationship with the Botswana government and the people of Botswana.
The current mine plan for Tau prepared by the Company was based on the results of historic exploration and envisaged the mining of 85,000 ounces of gold over three and a half years as reported in the Company’s press release of May 12, 2014. The new mine plan prepared by the Company has added a further 44,300 ounces of gold and an expected 20 months of additional production. The additional ounces and life can be attributed to the conversion of Inferred mineral resources to Measured and Indicated mineral resources, as well as the discovery of the potential extension of the Tau mineralized body at depth as announced in the Company’s press release of October 24, 2016. These additional resources and the potential extension of Tau have not been incorporated into the existing resource model found in the Technical Report. There has yet to be sufficient exploration on the potential expansion to extrapolate that it extends beyond the current mined area. Exploration drilling has commenced on the extent of this potential extension and the Company expects to provide an update on the results of this exploration early in 2018.
The investment in the development of Tau has resulted in increasing positive cash flows and declining cash costs. With the extension of the current Tau mine plan, and possible further expansion beyond that, it points to a long-term productive future for the Company in Botswana.
(2) Galaxy Gold Project, South Africa
Galane has continued to advance its Galaxy project and the Company filed a new environmental management plan for approval with the department of mines, a key requirement to recommence operations. With its Mupane property again producing to the Company’s expectations and a more constructive gold price environment, Galane is now focusing efforts to restart Galaxy to unlock the low cost and long term potential of its operations.
Galane has updated its mine plan for the Galaxy project, and the Company expects to recommence operations at an initial production level of over 25,000 ounces of gold per annum at a cost per ounce of less than $800. Galane has commenced further studies to support a subsequent expansion to a production level of over 50,000 ounces per annum.
Management and Directors
Ravi Sood, B.Math (Hons), Chairman
Mr. Sood is a financier and venture capitalist. Mr. Sood is the founder and former CEO of Navina Asset Management. Mr. Sood is also the founder and Chairman of Feronia Inc. and Transeastern Power Trust. Mr. Sood has also served as a director for numerous other public and private organizations.
Nick Brodie, FCCA, Chief Executive Officer and Director
Mr. Brodie is a senior executive with extensive experience in Africa. Mr. Brodie was CFO of Katanga Mining Limited and Copperbelt Energy Corporation Plc, Financial Advisor to Metallon Gold, Head of Finance at Cinergy and Financial Controller of Total SA in the UK.
Wayne Hatton-Jones, B.Sc., Chief Operating Officer and Director
Mr. Hatton-Jones is a mining professional with over 26 years experience working in South Africa, Mali West Africa, Tajikistan, Kazakstan, Romania and the Solomon Islands. Mr. Hatton-Jones has held a number of senior management positions in the mining industry including with Randgold Resources, Gold Ridge Mining, Avocet Mining Plc and Harmony Gold Mine.
Charles Byron, B.Sc. (Hons), Chief Geologist
Mr. Byron has over 30 years experience as a geologist focused on Achaean gold exploration and mining. Mr. Byron was with Phelps Dodge, Falconbridge, and later Gallery Gold where he led the team that discovered the Mupane Gold deposit and saw it into production in 2004.
Gavin Vandervegt, Chief Financial Officer
Mr. Vandervegt has had extensive experience in Africa and held several senior finance positions in mining including Group Financial Controller at Nautilus Minerals, Finance Director at Katanga Mining and Commercial Controller at Xstrata Coal.
Kevin Crossling, B.Sc. (Hons), Business Development
Mr. Crossling is a mining professional with over 13 years experience in progressively senior roles. Former Operations Manager at Allied Gold, Geology Manager at St Barbara, Principal Geologist at Geocross, Mineral Resource Manager at Pilanesberg.
Cedric Sam, B.Sc. Mining Eng., Mining Manager
Mr. Sam is a Mining Engineer with over 17 years of experience. Mr. Sam was Inspector of Mines & Explosives with Dept of Mines, Manager Mine Planning with Tati Nickel Mining Company and Mining Manager with African Copper Mining.
Ian Egan, Director
Mr. Egan has over 35 years experience in the mining industry.
Amar Bhalla, Director
Mr. Bhalla is the President of Capit Investment Corp.
Please refer to Galane Gold Ltd.'s website www.galanegold.com for complete biographies.
On October 25, 2017, Galane Gold Ltd. released its financial results for the three and nine months ended September 30, 2017.
Third Quarter 2017 Highlights