News

April 09, 2008

How Do You Run A Loss-Making Operational Gold Mine In This Market? Galantas Gold Shows The Way

By Our Man in the City

According to legend, leprechauns have hidden pots of gold all across Ireland. If you hunt them down by the sound of their shoe maker’s hammer and threaten them with bodily harm, they will reveal their stash of precious metal. The Celtic fascination with Irish fairies means that any company claiming to have found gold in the Irish hills is guaranteed huge publicity.

In 2004, Canadian group Tournigan Gold grabbed the headlines with news of a new gold discovery at the Curraghinalt project in Ireland. British newspaper, The Telegraph, went as far as suggesting that Curraghinalt would be come a household name as the site of potentially the largest deposit of gold to be found in the British Isles. Two years later, history repeated itself when Galantas Gold became the media darling. The BBC got all excited about Galantas’s gold deposit near Omagh and the...