Galantas Gold Corporation has added a second Chile project to its gold assets in Northern Ireland and Scotland.
OCEAN
The Canadian company’s initial project was the Cavanacaw gold mine in Omagh, County Tyrone, followed by the Gairloch polymetal exploration project in the Scottish Highlands.
Galantas signed a definitive agreement on 6 January 2026, to buy the Andacollo Oro gold project for US$32 million cash and 91,313,890 common shares, representing 19.9% of its issued and outstanding common shares as of 6 January 2026.
The project is owned by Compañía Minera e Inmobiliaria Dragones SpA, which is owned by Compañía Minera OXI SpA, which in turn is owned by Sol de Oro Mining Ltd, which is owned by Robert Sedgemore, who is an executive officer of Galantas.
The acquisition follows that in December 2025 of the Indiana gold-copper project owned by RDL Mining Corp, of which Mr Sedgemore is also a shareholder.
“Together, these assets mark an evolution of Galantas from a single-asset company into a multi-asset platform, positioning the company for disciplined growth and long-term value creation,” said Galantas.
The company’s fundraising continues with last month’s closure of a private placement of 186,250,000 units, at a price of CA$0.08 per unit, for an aggregate gross $14.9 million (£8m).
The figure includes a non-brokered private placement, together with a brokered offering, of 7,812,500 Galantas shares to majority owner and operator Ocean Partners UK Ltd, to settle a $625,000 (£335,000) debt.
In September 2025, Galantas sold 80% of Cavanacaw and its subsidiary Flintridge Resources Ltd to Ocean, in exchange for US$14 million (£10m) loans.
Ocean also gave an initial US$3m (£2.2m) for exploration, restart of planning and general and administrative costs, with the option to give a further US$5m (£3.7m).
Melquart Ltd also took part in the brokered offering for 10m units for a total $800,000 (£428,000) to hold 12.5% of Galantas.
Galantas’ results for the nine months to September end, showed a deficit of CA$87,460,832, (£47.7m) compared with $80,520,994 (£43m) as at 31 December 2024.
Comprehensive loss for the nine months ended 30 September 2025 totalled $8,764,497 (£4.7m) compared with $1,849,549 (£960,000) at 30 September 2024.
Galantas’ board comprises chief executive officer Mario Stifano, non-executive chairperson Róisín Magee, directors James Clancy, David Cather and Brent Omland, SVP operations Robert Sedgemore and director-advisor (corporate development) Lawrence Roulston.
Mr Roulston is also a shareholder of the Indiana project.
The management team includes Mr Stifano, chief financial officer Alan Buckley, chief operating officer Brendan Morris and chief geologist Dr Sarah Coulter.