Galileo Mining Ltd engages in the exploration of mineral deposits in Western Australia. Your password will be sent to this address. Galileo remains fully funded with $8.2 million at the end of the March quarter and able to continue aggressive exploration programs at all our projects. The Company's flagship projects are the Norseman and Fraser Range projects. Currency figures normalised to Galileo Mining Ltd's reporting currency: Australian Dollar AUD, Create detailed alerts and get notified the moment an event happens, See how trades would have performed from years past or start from the present, Download PDF copies of reports from the newspaper markets data page, View the performance of global markets and browse news items by region, Find companies based on country, sector, and other equity characteristics, View funds that move the market, screen for funds and read relevant news, All markets data located on FT.com is subject to the. Learn More. Bronwyn Allen. Subscriptions are available via the Creamer Media Store. WebGalileo Mining listed on the ASX in May 2018, raising $15 million in IPO funding. The placement will increase our total cash to approximately A$26.5-million and allow us to aggressively explore this significant new palladium province within our Norseman project area. Managing Director Brad Underwood is delighted with the placement and is looking forward to explore the Callisto discovery. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. Already Galileos top shareholder after folding projects owned by his private Creasy Group at Norseman and the Fraser Range into the 2018 float, Creasy sent its shares soaring even further to a record 86c after buying 3 million on market in the wake of the Callisto discovery. You must be a registered user to save alerts. Private companies may be related parties. We use this information to make our site faster, more relevant and improve the navigation for all users. When multiple institutional investors want to buy shares, we often see a rising share price. With over 5 km of strike length at the Callisto discovery, and highly prospective targets at the Jimberlana and Mission Sill prospects, the potential for additional mineralisation is very high, said Underwood. WebInsider Buying: GAL insiders have bought more shares than they have sold in the past 3 months. Taking note of what the big end of town is doing can provide insights for ordinary ASX shares investors. It holds a 100% interest in the Norseman project that covers an area of 306 square kilometers located to the town of Norseman; and 67% interest Fraser Range Project covering an area of 602 square kilometers situated in the Albany-Fraser Orogen. Share price information may be rounded up/down and therefore not entirely accurate. The companys shares are currently trading at 50 cents apiece, a 150% gain. Join Our Premium Community WebInsiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year. See our latest analysis for Galileo Mining. Analysts have been running the rule over this lithium giant's latest update. Public companies currently own 17% of Galileo Mining stock. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. l. The Fraser Range project consists of licences which are propspective for nickel, copper, and cobalt. James Mickleboro. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Should your cookies be reset then you may again use the drop-down menu to select a default region. Ownership Breakdown Dilution of Shares: Shareholders have been diluted in the Some would say this shows alignment of interests between shareholders and the board, though we generally prefer to see bigger insider holdings. Monica has a keen interest in finance and the share market and enjoys exploring the highs and lows. The energy sector lifted the market to a green finish today, with all four of the, Perenti (ASX:PRN) has secured a new five-year contract with mining giant and NYSE-listed Newmont at the, Almonty (ASX:AII) has continued construction works at its Sangdong tungsten mine in South Korea, with the, Peak Rare Earths (ASX:PEK) has tapped investors for $27.5 million to develop its Ngualla rare earth, Be the first with the news that moves the market, Arcadia Minerals (ASX:AM7) strikes sulphide copper and gold at Gamikaub, Namibia, Australian Strategic Materials (ASX:ASM) strikes feedstock supply deal with Vietnam Rare Earth Company, Santos (ASX:STO) faces fresh delay over sale of 5pc stake in PNG LNG project, Triton Minerals (ASX:TON) pockets $5m Shandong Yulong investment for Ancuabe graphite project, Everest Metals (ASX:EMC) finds fresh pegmatite targets through geophysical survey at Mt Edon, WA, Halo Food Co (ASX:HLF) secures multi-million dollar deal with Fonterra, ROOTS SUSTAINABLE AGRICULTURAL TECHNOLOGIES LTD, Galileo Mining (GAL) raises $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in WA, The placement closed oversubscribed with cornerstone investments by major shareholders Mark Creasy and IGO, Galileo Mining is using the funds to expand drilling at the new discovery and for drilling at the Mission Sill and Jimberlana prospects, The placement will increase Galileos total cash balance to around $26.5 million, Galileo is up 1.13 per cent and trading at $1.31 per share at 11:22 am AEST. Terms of use. In comparison, the S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.08% at the time of writing. Return vs Industry: GAL exceeded the Australian Metals and Mining industry which returned -7.6% over the past year. With over five kilometres of strike length at the Callisto discovery, and highly prospective targets at the Jimberlana and Mission Sill prospects, the potential for additional mineralisation is very high, he said. We are currently completing our second reverse circulation (RC) drill campaign at Callisto with a geological update to be provided to the market on the completion of the program.. 13 Colin Street West Perth WA 6000 . According to a change of substantial holding notice, Mark Creasy has increased his stake by 3 million shares to 44,371,895 shares. You can do it. Lets take a look at what Galileo Mining announced today. The Motley Fool has a disclosure policy. So they generally do consider buying larger companies that are included in the relevant benchmark index. Note: When you clear your default region you will be directed to the MiningWeekly.com home page regional edition associated with the geographic location of our IP address. Company Buyback. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The company was originally privately owned by renowned prospector Mr Mark Creasy, and Galileo Managing Director Mr Brad Underwood spent eight years as General Manager of the Creasy Groups exploration at the Fraser Range and at Norseman. Galileo Mining listed on the ASX in May 2018, raising $15 million in IPO funding. Get in touch with us directly. We respectfully acknowledge the Traditional Custodians of the land where we live and work and pay our respects to all Elders, past and present, of all Aboriginal and Torres Strait Islander nations. Insiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. WebGalileo Mining Limited. Note: When you select a default region you will be directed to the MiningWeekly.com home page of your choice whenever you visit miningweekly.com. The Norseman project consists of granted exploration licences and is prospective for cobalt and nickel. Strong support for the placement validates the company's strategy of striving to replicate the success of Creasy Group and IGO in the prolific Fraser Range. Creasy Group's principal Mark Creasy is a world-renowned prospector who was behind was behind Sirius Resources when it struck the jackpot at the Nova-Bollinger nickel-copper deposit on Fraser Range. Profile data is unavailable for this security. Galileo Mining has amarket capitalisationof about $81 million. We note that hedge funds don't have a meaningful investment in Galileo Mining. On Legends Top 20 shareholder list Creasy Group is at the top with a 26.66% holding in Legend while IGO Ltd is second with a 14.12% stake. The Company is engaged in the development and exploration of cobalt, nickel laterite and Galileo Mining has such a small amount of debt that we'll set it aside, and focus on the AU$6.9m in cash it held at December 2020. For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has fallen 7% in a year. Win at Retirement April 29, 2023 | The Company holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. Webshareholders including Mark Creasy (approximately 31%), Independence Group (4.9%) and Chris Ellison (4.2%). Drilling from 144m at hole NRC266 intersected with 33 metres at 1.64 grams per tonne (g/t) palladium, 0.28 g/t platinum, 0.09 g/t gold, 0.32% copper, and 0.3% nickel including: The 33 metre intersection is within a broader 55 metre disseminated sulphide zone. To that end, you should learn about the 4 warning signs we've spotted with Galileo Mining (including 2 which are concerning) . of Shares % Piedmont Lithium Limited: 1,000,383,020: 11.26: Citicorp Nominees Pty Ltd: 691,211,585: 7.78: HSBC Custody Nominees (Australia) Limited Legend Mining Ltd (ASX:LEG) managing director Mark Wilson brings Proactive up to speed on a mission to test the Octagonal prospects most exciting diamond drill targets. It's always worth thinking about the different groups who own shares in a company. Select your default regional edition of MiningWeekly.com. Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. With 17% and 6.5% of the shares outstanding respectively, IGO Limited and Yandal Investments Pty Ltd are the second and third largest shareholders. Galileo Mining Ltd is an Australia-based mining and exploration company. Galileo has The high level of interest has allowed us to complete the A$20.4-million placement with A$8.7-million of the funds coming from our major shareholders, Mark Creasy and IGO. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that youve provided to them or that theyve collected from your use of their services. Under the placement, Galileo will issue 17 million shares for $1.20 In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by FT and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Monica O'Shea. Ltd. is currently the company's largest shareholder with 21% of shares outstanding. WebGalileo Mining Ltd is an Australia-based mining and exploration company. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. has decreased from 36% to 12% over the past year, but is still higher than 75% of Australian stocks. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping us understand which sections of the website you find most interesting and useful.
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