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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. Receive daily sector news alerts. Email advertising@creamermedia.co.za, Barloworld Equipment~Booyco Electronics~Immersive Technologies~Integrated Pump Rental~Integrated Pump Technology~Multotec~Sandvik~SSG Consulting ~Trafo Power Solutions~Weir Minerals Africa, barloworld-equipment-2021-07-20~booyco-electronics-2021-06-07~immersive-technologies-2019-04-01~integrated-pump-rental-2019-12-09~integrated-pump-technology-2019-12-12~multotec-2021-02-03~sandvik-2022-08-29~ssg-consulting-project-management-2014-05-19~trafo-power-solutions-2022-12-13~weir-minerals-africa-2020-11-23, Creamer Media Senior Deputy Editor: Australasia, Sign up for our FREE daily email newsletter. Legend Mining welcomes maiden nickel, copper and cobalt resource Legend Mining hits Octagonal running with seismic data acquisition. Two nickel-copper sulphide target areas are on the radar for this initial campaign, representing the most compelling Only registered members can use this feature. Authorised by Scott Phillips. Galileo Mining Ltd engages in the exploration of mineral deposits in Western Australia. 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. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research. WebGalileo Mining Limited. Data is 20 mins delayed. Join A Paid User Research SessionYoull receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Return vs Market: GAL exceeded the Australian Market which returned -5.5% over the past year. Subscriptions are available via the Creamer Media Store. 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. The above has been published by Proactive Investors Limited (the "Company") on its website and is made available subject to the terms and conditions of use of its website (see Sign up to receive alerts and news direct to your inbox. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. EMAILTHISARTICLE. It's always worth thinking about the different groups who own shares in a company. 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 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. This may not be consistent with full year annual report figures. WebGalileo Mining Limited. SAVE THIS ARTICLE Note: Search is limited to the most recent 250 articles. The Motley Fool Australia has no position in any of the stocks mentioned. ARTICLE ENQUIRY, To subscribe email subscriptions@creamermedia.co.za or click here Galileo Mining Ltd is an Australia-based mining and exploration company. Galileo Mining Ltd (ASX:GAL) s Brad Underwood speaks with Proactive s Elisha Newell about the $20.4 million the company has just raised to accelerate its exploration programs across its assets as it looks to aggressively explore the significant new palladium province within its Norseman Project area. Galileo expects to begin a third RC program at the end of this month and will be followed by diamond drilling in August. 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. We take a look at how you could receive passive income from two iron ore miners. To access earlier articles, click Advanced Search and set an earlier date range.To search for a term containing the '&' symbol, click Advanced Search and use the 'search headings' and/or 'in first paragraph' options. Goldman Sachs says these are the lithium shares to buy due to a 'game changing' technology. Ownership Breakdown Dilution of Shares: Shareholders have been diluted in the Legend Mining prepares to test most exciting diamond drill Legend Mining talks Octagonal prospect potential at Rockford. That is, insiders Shareholder Info Top 20 Shareholders About the Data Shareholder Distribution As reported in the most recent Annual Report. Any information that you receive via FT.com is at best delayed intraday data and not "real time". Copyright Proactive Group Holdings Inc, 2023. 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. The catalyst for the rise in the Galileo Mining share price on Monday has been news that one of the companys major shareholders has increased their stake. 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. Our latest articles and strategies for the post-work life you want. 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. Learn More. The top 20 shareholders on listing held 57% of the stock. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. May 1, 2023 | As far as we can tell there isn't analyst coverage of the company, so it is probably flying under the radar. 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. In the last year, its cash burn was Strictly necessary cookies relate to our hosting environment, and functional cookies are used to facilitate social logins, social sharing and rich-media content embeds. This may be a strategic interest and the two companies may have related business interests. Galileo Mining has amarket capitalisationof about $81 million. 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. Email: [emailprotected] Mr Creasy continues to be the largest shareholder, controlling approximately 27.5 percent of the Simply Wall St has no position in any stocks mentioned. Select your default regional edition of MiningWeekly.com. IGO and mining billionaire Mark Creasy are expected to cornerstone WA cobalt and nickel explorer Galileo Minings share placement. We note that hedge funds don't have a meaningful investment in Galileo Mining. See our Cookie Policy for more information. WebInsider Buying: GAL insiders have bought more shares than they have sold in the past 3 months. Have feedback on this article? 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 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. Less than 5% of Galileo Mining is held by institutional investors. On the market this morning, Galileo were up 1.13 per cent and trading at $1.31 per share at 11:22 am AEST. 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. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. Australian Gold Resources Pty. The Company's flagship projects are the Norseman and Fraser Range projects. We also observed that the top 6 shareholders account for more than half of the share register, with a few smaller shareholders to balance the interests of the larger ones to a certain extent. Investment news, stock ideas, and more, straight to your inbox. For more information please see our Financial Services Guide. You must be a registered user to save alerts. Galileo Mining (GAL) has received firm commitments to raise $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in WA. Jul 4, 2022 Anthony Macdonald, Hear our experts take on shares, the market & how to invest. In comparison, the S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.08% at the time of writing. Stable Share Price: GAL is more volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 12% a week. Share price information may be rounded up/down and therefore not entirely accurate. Some 170-million shares will be placed, at a price of A$1.20 a share under Galileos existing placement capacity. Galileo has According to a change of substantial holding notice, Mark Creasy has increased his stake by 3 million shares to 44,371,895 shares. Ltd. is currently the company's largest shareholder with 21% of shares outstanding. Phone: (03) 8592 4841 However, high insider ownership can also give immense power to a small group within the company. Brooke Cooper, April 30, 2023 | This suggests that some funds have the company in their sights, but many have not yet bought shares in it. 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. We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library. Shares in the base metals explorer are skyrocketing today. 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. separate emails by commas, maximum limit of 4 addresses, 6th July 2022 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. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. All Rights Reserved - Proactive Australia PTY LTD ACN:132787654 ABN:19132787654. TO MAKE THE WORLD We use this information to make our site faster, more relevant and improve the navigation for all users. Legend Mining continues evolution of the Mawson story with more massive sulphides intersected. In their own names, insiders own AU$12m worth of stock in the AU$155m company. Use our equities screener to discover other potential opportunities. Under the placement, Galileo will issue 17 million shares for $1.20 each. 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. But it might be worth checking if those insiders have been selling. The Motley Fool Australia does not guarantee the performance of, or returns on any investment. Click on the button below to clear your default MiningWeekly.com regional edition. Please enter the email address that you used to subscribe on Mining Weekly. 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 GAL $ 0.790 -0.040 -4.82% Data last updated: Apr 28, 2023 3.56pm. In the chart below, we zoom in on the different ownership groups of Galileo Mining. While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing.
