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4/24/17

Galantas Gold (GAL.v): Chalk up another success for "The IKN First Law of Mining News Releases"

Remember this post back on April 13th, less than two weeks ago? In it we noted that Galantas Gold (GAL.v) says its tunnel development was "temporarily on hold" while they work out a deal with the Northern Irish police on explosives handling, but the problem "is not expect to exceed one month". This set off the red flags at this humble corner of cyberspace because around here, we have the tried and tested First Law of Mining NRs which goes like this:
"The IKN First Law of Mining News Releases: Considering that anything contained in a mining news release is presented in the best possible way for the company in question, any piece of information contained in a NR that comes across in any way negative means the real news and/or events behind it must be very, very bad indeed."

Cut to the wee small hours of this morning and the latest NR out of GAL.v. Read it here and there's plenty in it, but the pay dirt is this:
Galantas Gold Corporation ("Galantas" or the "Company") (TSX VENTURE:GAL)(AIM:GAL) has received notification that the Police Service of Northern Ireland ("PSNI") will not provide its required anti-terrorism cover in regard to blasting operations required for mine development at the Omagh Gold Mine.

The First Law of Mining NRs told you to stay away. This morning GAL.v is already 16% down and we'd wager there's a lot lower to go.