Galena Mining CEO - Globally Significant- Fully Funded Silver and Lead Project in Australia

TL;DR

Galena Mining's recent drilling program at the Abra project in Western Australia yielded impressive results, including significant intersections of high-grade lead, silver, copper, and gold. The company is now focused on completing the drilling program, updating the resource, and advancing the construction phase.

Transcript

welcome to inn ceo talks in this episode we're talking to alexander mullenald the ceo and managing director of galena mining which trades on the asx under the symbol g1 a the company just released results from its 2020 abra project drilling program galena owned 77 of the abra based metals project which is a globally significant lead silver project ... Read More

Key Insights

• 🥺 Galena Mining's drilling program at the Abra project has yielded promising results, with significant intersections of high-grade lead, silver, copper, and gold.
• 💋 The completion of the drilling program marks an important milestone for the company, as it moves forward with updating the resource and mine plan.
• 😤 The company has a strong and experienced team in place for mine development, including directors with extensive mining industry experience.
• 🇨🇫 The Abra mine is located in a relatively remote region but benefits from proximity to public roads and other mine operations.
• ✊ Galena Mining has secured its own power supply through a hybrid gas and solar power station and has established logistics arrangements for concentrate transportation.
• ✳️ The successful completion of the drilling program reduces funding risk and increases the potential for a re-rating of the company's stock.
• 💐 Galena Mining aims to start production in 15 months, with projections of generating around AUD 114 million in annual cash flows.

Questions & Answers

Q: What were the key outcomes of Galena Mining's drilling program at the Abra project?

The drilling program yielded positive results, with 75% of the 57 holes meeting or exceeding expectations compared to the previous resource model. Significant intersections of high-grade lead, silver, and copper were found, including some with over 50 meters of cumulative significant intersection.

Q: What are the next steps for Galena Mining after completing the drilling program?

The completion of the drilling program is an important milestone for the company. The next steps involve updating the resource and mine plan, securing the remaining debt facilities, deploying the EPC contractor for the plant, and commencing underground mine development.

Q: Does Galena Mining have an experienced team in place for mine development?

Yes, Galena Mining has assembled a team with relevant experience in mine development. The team includes experienced directors, such as Tony James and Stuart Howe, as well as a site general manager and other key personnel. The mine is already declared as an active mine from a regulatory perspective.

Q: Where is the Abra mine located and what infrastructure is available to support it?

The Abra mine is located approximately 800 kilometers northeast of Perth, Western Australia. It is relatively close to public roads and other mine operations in the area. The site operates on a fly-in fly-out basis, with employees rotating from Perth. The company has arranged its own power supply through a hybrid gas and solar power station. The concentrate produced will be trucked to the Port of Geraldton for export.

Summary & Key Takeaways

• Galena Mining's drilling program at the Abra project resulted in 57 holes for 25,000 cumulative linear meters of drilling, with positive outcomes in terms of infill drilling and targeting metal-rich zones.

• The program successfully identified mineral-rich zones for lead, silver, copper, and gold, with thick accumulations of high-grade minerals.

• The company is now focused on completing the drilling program, updating the resource, and advancing the construction phase with the goal of reaching production in 15 months.