Galileo key milestones The current main focus is on the Star Zinc Project in Zambia close to Lusaka. GALILEO MINING LTD ABN 70 104 114 132 CHAIRMAN’S LETTER Dear Shareholder, 2020 has been a pivotal year in the short history of Galileo Mining Ltd in which we accelerated exploration across our Fraser Range nickel joint venture project in Western Australia. Galileo Mining is targeting exploration of cobalt-nickel laterite at its Norseman project and nickel-copper-cobalt sulphide mineralisation at its Fraser Range project. Given this risk, we thought we'd take a look at whether Galileo Mining shareholders should be worried about its cash burn. The Fraser Range is known for the world class Nova nickel-copper-cobalt mine owned by IGO. 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. Shares in Galileo Resources are currently trading at 1.53p and the price has moved by 0.277k% over the past 365 days. Galileo, with a sub-$30 million market cap (and ~$8.7 million cash at June 30), has all the elements required for a significant kind of share price run on drilling success. However, the S&P/ASX 200 Index (ASX: XJO) has delivered a superior return of 32% over the same period. After Creasy discovered Nova in 2012, his privately-owned Creasey Group had all of the best ground in the Fraser Range. Brad Underwood, Galileo Mining updates Samso during our Rooster Talk on nickel exploration and its first diamond drilling program at Fraser Range Nickel Belt in Western Australia. Mr Creasy – a British-born mining engineer who famously sold the Bronzewing and Jundee gold deposits in Western Australia in 1994 for A$130 million – will be the company’s largest shareholder with a … He is also a major shareholder of Legend Mining and of Galileo, which he founded. Galileo Resources Plc (“Galileo” or the “Company” or the “Group”) Audited Results for the year ended 31 March 2019. HotCopper has news, discussion, prices and market data on GALILEO MINING LTD. Join the HotCopper ASX share market forum today for free. Blessed with one of the best portfolio of projects in the Fraser Range in Western Australia, Galileo has been bulldozing tirelessly over the last twelve months. Galileo Resources PLC Released 09:38 23-Aug-2019. Ever wondered how to buy shares in Galileo Mining Ltd? Galileo Mining Ltd looks more and more likely to follow in the footsteps of Legend Mining Ltd (ASX:LEG) as exploration results from its Lantern Prospect in the Fraser Range, Western Australia come to hand.After releasing some exceptional drilling results, investors flocked to the stock as it traded as high as 12 cents per share, up 14% on the previous day’s close. The latest Galileo Mining Ltd [GAL] news, articles, ... Shareholders; 1 day 1 d 5 days 5 d 1 month 1 m 3 months 3 m 1 year 1 y 5 years 5 y. The firm engages in the exploration and development of mining tenements. Interestingly, existing shareholder Independence Group – which wholly owns the Nova nickel mine some 100km along strike from Galileo’s project – will emerge with an 8.9% stake, up from 4.9%, in the nickel play. The company is exploring for nickel copper deposits in the Fraser Range and for high grade nickel-copper-cobalt resources at its Norseman project. While Galileo Mining does have a solid cash runway, its cash burn trajectory may have some shareholders thinking ahead to when the company may need to raise more cash. Galileo Mining listed on the ASX in May 2018, raising $15 million in IPO funding. Galileo Mining Ltd (GAL) Overview. How Easily Can Galileo Mining Raise Cash? Now 230% higher since the discovery, LEG has a $375 million market cap — a valuation that points to the huge upside potential for Galileo shareholders on news of its own discovery. In the last year, its cash burn was AU$3.2m. 3 GALILEO MINING LTD ABN 70 104 114 132 CHAIRMAN’S LETTER Dear Shareholder I am pleased to present this Annual Financial Report of the Company to you on behalf of the Board. Galileo Mining (ASX: GAL), another of famed millionaire prospector Mark Creasy’s punts, has had a positive start to ASX life, with its shares soaring 90% during its first hour of trade. This is significant for the company as it demonstrates the presence of the mineralising processes needed to form magmatic nickel-copper deposits. Companies can raise capital through either debt or equity. View announcements, advanced pricing charts, trading status, fundamentals, dividend information, peer analysis and key company information. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Companies can raise capital through either debt or equity. Australian Gold Resources Pty. Galileo is steady in early morning trade and shares are trading for 32.5 cents Galileo Mining (GAL) has intersected significant sulphide mineralisation from its Lantern Prospect in Western Australia. Galileo Mining Limited (ASX: GAL) is slowly creating a make or break situation for itself with the Albany Fraser nickel sulfide project. Find out more at Intelligent Investor View today’s GAL share price, options, bonds, hybrids and warrants. Galileo Mining Ltd has ... we believe this is an exceptional region to be exploring and continue to work towards a breakthrough discovery for our shareholders. Galileo (AIM: GLR), the exploration and development mining company, announces its audited results for the year ended 31 March 2019. ASX-listed miner IGO Ltd and Mineral Resources’ founder Chris Ellison are included within the company’s top five largest shareholders. How Easily Can Galileo Mining Raise Cash? In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. Previous Close: … The priority electromagnetic conductor at the Delta Blue DB2 target has been confirmed by an independent geophysicist with results from modelling showing a robust target. IGO Limited is the second largest shareholder with 4.9% of common stock, followed by Ellison (WA) Pty Limited, holding 4.2% of the stock. After Creasy discovered Nova in 2012, his privately-owned Creasey Group had all of the best ground in … In terms of relative price strength - which takes into account the overall market trend - the Galileo Resources price has moved by 0.207k% over the past year. Galileo Mining is an Australian incorporated and based mineral exploration company which holds interests in mining tenements located near Norseman and the Fraser Range in Western Australia. Notice of AGM . He is also a major shareholder of Legend Mining and of Galileo, which he founded. Galileo Mining (GAL) has confirmed a target at the Delta Blues nickel–copper prospect in the Fraser Range region of Western Australia. Galileo Mining listed on the ASX in May 2018, raising $15 million in IPO funding. Even though it has reduced its cash burn recently, shareholders should still consider how easy it would be for Galileo Mining to raise more cash in the future. The operating Nova nickel mine, owned by IGO Ltd – Galileo’s second largest shareholder, sits between the two Galileo project areas. He is also a major shareholder of Legend Mining and of Galileo, which he founded. Galileo Mining Ltd. is a mineral exploration company. The Galileo Mining share price has provided an 18% return in the last year to shareholders. He is also a major shareholder of Legend Mining and of Galileo, which he founded. Galileo Mining is an ASX-listed company (ASX: GAL) focused on the discovery of base metals in Western Australia. Read detailed company information including current share prices, financial summary, directors, announcements, dividends & news. After Creasy discovered Nova in 2012, his privately-owned Creasey Group had all of the best ground in the Fraser Range. While Galileo Mining does have a solid cash runway, its cash burn trajectory may have some shareholders thinking ahead to when the company may need to raise more cash. The ASX debutant listed at 12pm AEST at A$0.20 under the ticker code GAL and went on to hit an intraday high of A$0.38 shortly after, with 3.4 million shares traded by 1pm AEST. Looking at … Galileo Mining Ltd (ASX:GAL) is focussed on the exploration and development of nickel, copper and ... Jupiter Mines churns out cash from Tshipi, with shareholders getting a … Galileo Mining is not owned by hedge funds. We explain how and compare the best share dealing platforms. Its focus is to further evaluate and expand the JORC (2012) compliant cobalt-nickel resources within the Norseman Project tenements. After Creasy discovered Nova in 2012, his privately-owned Creasey Group had all of the best ground in the Fraser Range. Creasy continues to be the largest shareholder, controlling approximately 31% of the company. Galileo Mining has such a small amount of debt that we'll set it aside, and focus on the AU$8.7m in cash it held at June 2020. At the Fraser Range, Galileo has two project areas with strong potential for nickel. Ltd. is currently the largest shareholder, with 31% of shares outstanding. Key Statistics. Galileo Resources Plc is an opportunity driven company whose model is to acquire large data bases generated by major companies and abundant for strategic, corporate, technical and other reasons which do not necessarily reflect the potential value of the project.. Its … How Easily Can Galileo Mining Raise Cash? Significant zinc intersections have been …
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