The Motley Fool Australia operates under AFSL 400691. The top 20 shareholders on listing held 57% of the stock. Galileo is exploring its 100% owned Norseman project in Western Australia. WebGalileo Mining Ltd is an Australia-based mining and exploration company. The Company is engaged in the development and exploration of cobalt, nickel laterite and nickel-copper In the last year, its cash burn was PERTH (miningweekly.com) Junior Galileo Mining will raise A$20.4-million in a share placement to sophisticated and institutional investors to fund exploration work at Use our equities screener to discover other potential opportunities. Subscriptions are available via the Creamer Media Store. Company Buyback. FT is not responsible for any use of content by you outside its scope as stated in the. Please enter the email address that you used to subscribe on Mining Weekly. 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. Return vs Market: GAL exceeded the Australian Market which returned -5.5% over the past year. The Company is engaged in the development and exploration of cobalt, nickel laterite and Profile data is unavailable for this security. than 75% of Australian stocks over the past 3 months. As far as we can tell there isn't analyst coverage of the company, so it is probably flying under the radar. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. But to understand Galileo Mining better, we need to consider many other factors. Please sign in or register. Bronwyn Allen. In their own names, insiders own AU$12m worth of stock in the AU$155m company. Galileo Mining Ltd is an Australia-based mining and exploration company. WebGalileo Mining Limited. The Galileo Mining Ltd ( ASX: GAL) share price is soaring today on the back of a major discovery. The Company's flagship projects are the Norseman and Fraser Range projects. This website uses cookies so that we can provide you with the best user experience possible. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. Galileo Mining (ASX:GAL) sees increasing grades at Callisto discovery, WA Galileo Mining (GAL) has recorded increasing palladium, nickel and copper grades at Carolyn Rebeiro 04 January 2023 10:58 (AEST) 783 views 2 minute read ASX News Materials Galileo Mining (ASX:GAL) strikes high-grade nickel sulphide at Callisto, WA Contact Details: Return vs Industry: GAL exceeded the Australian Metals and Mining industry which returned -7.6% over the past year. This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. WebInsider Buying: GAL insiders have bought more shares than they have sold in the past 3 months. In comparison, the S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.08% at the time of writing. Galileo Mining Ltd announced that it has received AUD 20.4 million in funding from IGO Limited Jul 07 Galileo Mining Ltd Announces Geological Results from the This discovery is being mined by successful nickel-copper-gold-zinc-silver producer IGO Group which also has interests in other companies active in the region. Legend Mining Limited's (ASX:LEG) two major shareholders remain fellow Fraser Range players Creasy Group and IGO Ltd (ASX:IGO) (OTCMKTS:IPGDF) following the company's recent $20 million capital raising. Ltd. is currently the company's largest shareholder with 21% of shares outstanding. That is, insiders Sign up here, US STOCKS-S&P, Dow edge higher as JPMorgan gains; Fed meet in focus, Explainer-With Bluesky, Jack Dorsey has another go at Twitter-like service, Citi's Fraser warns U.S. debt ceiling debate has serious consequences, Apollo CEO on JPMorgan's First Republic deal: 'The strong get stronger', COLUMN-Funds go record short 5-year Treasuries, eye steeper US curve: McGeever. The morning catch up: Markets finish April on a high ahead of rate Legend Mining eclipses nominal 2021 budget by completing 11,000 Legend Mining welcomes major shareholder support in Legend Mining lauds decade in the making drill program at Octagonal. We can see that individual investors own the lion's share in the company with 44% ownership. 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. The placement closed oversubscribed with cornerstone investments of $8.7 million by major shareholders Mark Creasy and IGO. SAVE THIS ARTICLE May 1, 2023 | In addition, we found that Richard Underwood, the CEO has 4.4% of the shares allocated to their name. May 1, 2023 | Galileo Mining Ltd Follow Mineral exploration. Market Indices, Commodities and Regulatory News Headlines copyright Morningstar. Earnings have declined by 3.9% per year over past 5 years, Volatile share price over the past 3 months, Shareholders have been diluted in the past year, Capture your thoughts, links and company narrative. Copyright Proactive Group Holdings Inc, 2023. Shares in the base metals explorer are skyrocketing today. Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. You can do it. Monica is a journalist with experience working for Daily Mail Australia in Sydney and the Port Pirie Recorder and the Flinders News in South Australia. WebGet detailed information on GALILEO MINING LTD (GAL.AX) including stock quotes, financial news, historical charts, company background, company fundamentals, company financials, insider trades, annual reports and historical prices in the Company Factsheet. We look forward to updating the market with results from this exciting new West Australian discovery., Edited by: Creamer Media Reporter EMAIL THIS ARTICLE SAVE THIS ARTICLE Legend Mining welcomes maiden nickel, copper and cobalt resource Legend Mining hits Octagonal running with seismic data acquisition. The third reverse circulation drill program is scheduled to begin at the end of July with diamond drilling planned to commence in August. See our Cookie Policy for more information. Private companies may be related parties. Data as of May 01 2023. Any information that you receive via FT.com is at best delayed intraday data and not "real time". GAL $ 0.790 -0.040 -4.82% Data last updated: Apr 28, 2023 3.56pm. Data delayed at least 20 minutes, as of May 01 2023 07:10 BST. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Goldman Sachs says these are the lithium shares to buy due to a 'game changing' technology. Why did the NAB share price smash the ASX 200 in April? In May 2022 Galileo made a major Palladium-Platinum discovery at Callisto on the Norseman Project and is currently undertaking a resource drill out with numerous areas having potential for further PGE, nickel, copper and cobalt discoveries. The Fraser Range Project covers two zones of the extensive Fraser Range geological belt. Your password will be sent to this address. Get Started Investing The Norseman project consists of granted exploration licences and is prospective for cobalt and nickel. The companys shares are currently trading at 50 cents apiece, a 150% gain. Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. According to a change of substantial holding notice, Mark Creasy has increased his stake by 3 million shares to 44,371,895 shares. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. WebThe current holdings of RMI directors. Sign Up for Take Stock Under the placement, Galileo will issue 17 million shares for $1.20 each. Listen to Our Podcast Substantial Shareholders A substantial shareholder is a person or entity that owns 5% or more of the voting shares in a company. Australian Gold Resources Pty. Under the placement, Galileo will issue 17 million shares for $1.20 This suggests that some funds have the company in their sights, but many have not yet bought shares in it. The Motley Fool Australia has no position in any of the stocks mentioned. Learn about investing with our Investing Education hub. In addition, we are waiting for the assay results from the first four drill holes of the present drill program which are expected to be returned from the laboratory shortly. Get in touch with us directly. SMARTER, HAPPIER, AND RICHER. Galileo expects to begin a third RC program at the end of this month and will be followed by diamond drilling in August. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. The past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees. Legends successes at Rockford, and in particular Mawson, have attracted strong attention around Australia, including from its high-profile partners who continue to support the companys endeavours. 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. Investment news, stock ideas, and more, straight to your inbox. By: Esmarie Iannucci 13 Colin Street West Perth WA 6000 . You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. To advertise email advertising@creamermedia.co.za or click here, Mining Weekly is a product of Creamer Media.www.creamermedia.co.za, Other Creamer Media Products include:Engineering NewsResearch Channel AfricaPolity, Sign up for our FREE daily email newsletter While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies. Hear our experts take on shares, the market & how to invest. Volatility Over Time: GAL's weekly volatility has decreased from 36% to 12% over the past year, but is still higher than 75% of Australian stocks. It also reflects the success Legend had has with its systematic approach to exploration which has resulted in a string of impressive results, including recently from the Mawson discovery. Webshareholders including Mark Creasy (approximately 31%), Independence Group (4.9%) and Chris Ellison (4.2%). The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. Galileo said this shows the potential for a large mineralised system. Registered Office. This may be a strategic interest and the two companies may have related business interests. 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. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. l. The Fraser Range project consists of licences which are propspective for nickel, copper, and cobalt. The Motley Fool Australia does not guarantee the performance of, or returns on any investment. Commenting on the news, managing director Brad Underwood said: While we are at an early stage in the discovery process, the thick and consistent zone of mineralisation, and the extensive prospective strike length, suggests the potential for a large mineralised system. The Motley Fool has a disclosure policy. When multiple institutional investors want to buy shares, we often see a rising share price. This holding is probably worth investigating further. But it might be worth checking if those insiders have been selling. We note that hedge funds don't have a meaningful investment in Galileo Mining. WebGalileo Mining Ltd (ASX:GAL) insider upped their holding earlier this year. Legend Mining continues evolution of the Mawson story with more massive sulphides intersected. We aim to bring you long-term focused analysis driven by fundamental data. This setting is controlled by cookies and should your cookies be re-set you will then be directed to the regional edition associated with the geographic location of our IP address. April 29, 2023 | Our data indicates that Private Companies hold 30%, of the company's shares. Galileo Mining (ASX: GAL) latest news, share price, company information, stock chart and announcements on Australia's #1 site for investors, Small Caps. James Mickleboro. This lithium giant could still have room to climb higher from current levels according to one broker. Mark Creasy has upped his stake in Galileo Mining after its big Callisto palladium discovery last week. 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. In other words, the group stands to gain the most (or lose the most) from their investment into the company. So if the company itself can improve over time, we may well see more institutional buyers in the future. Concerned about the content? Insiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year. The placement will increase Galileos total cash balance to around $26.5 million. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show and premium investing services. IGO has reported EBITDA of $533 million and net profit after tax of $412 million for the March quarter. Performance Cookies collect anonymous information designed to help us improve the site and respond to the needs of our audiences. Learn More. In the chart below, we zoom in on the different ownership groups of Galileo Mining. The company explores for cobalt, nickel, lithium, and copper, as well as nickel sulphides. Macquarie says buy Santos shares now for 40% upside, The Galileo Mining share price is surging 150% today, The company has discovered major palladium, platinum, gold, copper, and nickel mineralisation, Galileo is exploring its 100% owned Norseman project in Western Australia, 6 metres at 2.21 g/t palladium, 0.37 g/t platinum, 0.11 g/t gold, 0.41% copper and 0.36% nickel from 159 metres, 1 metre at 2.66 g/t palladium, 0.41 g/t platinum, 0.14 g/t gold, 0.48% copper and 0.46% nickel from 176 metres. She also hold a B.Science (Biotechnology) with Honours from the University of Adelaide.Monica has worked in government at the local, state and federal level. Share Registry. Creamer Media Senior Deputy Editor: Australasia, ARTICLE ENQUIRY For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has fallen 7% in a year. Lets take a look at what Galileo Mining announced today. Legend Mining prepares to test most exciting diamond drill Legend Mining talks Octagonal prospect potential at Rockford. 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 holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Public companies currently own 17% of Galileo Mining stock. 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 Jul 4, 2022 Anthony Macdonald, Well supported successful mining investor Mark Creasy and major mining company IGO are the largest shareholders Full Company Profile Request Mining Companies Videos Currently Playing The Assay TV Brad Underwood, Chairman & Managing Director, Galileo Mining (ASX:GAL) 23/5/2022 Should your cookies be reset then you may again use the drop-down menu to select a default region. Advertising Cookies collect information about your browsing habits such as the pages you visit and links you follow. The Company is engaged in the development and exploration of cobalt, nickel laterite and nickel-copper-cobalt sulphide projects in Western Australia. Creasys Nova-Bollinger discovery helped start what is known as the Great Nickel Rush on Fraser Range. These audience insights are used to make our website more relevant. Creasy is well known for his gold finds and lucrative company exits, making the Guinness World Records in 1994 for pocketing $130 million in a gold deposits exit, the largest ever payout received by a prospector. Legend Mining doubles down on seismic survey for Rockford Project, Astro Resources delivers 50% increase in indicated resources at Fe Limited continues operation ramp-up at JWD Iron Ore Project; South Harz Potash well positioned as global economic and political Emyria initiates pre-clinical studies for MDMA-inspired analogues.
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