Galane stock rockets on Galaxy restart decision

The board of Southern Africa-focused gold producer Galane Gold has made a development decision for the first-phase restart of production at the Galaxy gold mine, in South Africa, up to a target of 60 000 oz/y, the company advised on Monday. The TSX-V-listed miner, which operates the Mupane mine, in Boswana, said it would spend $2-million through a capital expenditure programme to restart production. The company expected the first phase would take six months to complete and it would be funded from internal cash flow.