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. Galileo has TO MAKE THE WORLD 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. separate emails by commas, maximum limit of 4 addresses, 6th July 2022 According to a change of substantial holding notice, Mark Creasy has increased his stake by 3 million shares to 44,371,895 shares. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. Australian Gold Resources Pty. Taking note of what the big end of town is doing can provide insights for ordinary ASX shares investors. 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. Legend and its respected two high-profile partners Rockford partners hold considerable expertise on Fraser Range district mineralisation styles. Data is 20 mins delayed. 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. In their own names, insiders own AU$12m worth of stock in the AU$155m 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 It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. The past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees. This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. Monica has a keen interest in finance and the share market and enjoys exploring the highs and lows. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. Top 20 By Shareholder. With 17% and 6.5% of the shares outstanding respectively, IGO Limited and Yandal Investments Pty Ltd are the second and third largest shareholders. James Mickleboro. James Mickleboro. The Company is engaged in the development and exploration of cobalt, nickel laterite and Galileo Mining's significant individual investors ownership suggests that the key decisions are influenced by shareholders from the larger public, A total of 6 investors have a majority stake in the company with 50% ownership, Using data from company's past performance alongside ownership research, one can better assess the future performance of a company. The top 20 shareholders on listing held 57% of the stock. 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. SAVE THIS ARTICLE Simply Wall St has no position in any stocks mentioned. 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. Under the placement, Galileo will issue 17 million shares for $1.20 each. Galileo Mining has amarket capitalisationof about $81 million. Galileo Mining Ltd engages in the exploration of mineral deposits in Western Australia. 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. The Company's flagship projects are the Norseman and Fraser Range projects. WebGalileo Mining Limited. Strictly necessary cookies relate to our hosting environment, and functional cookies are used to facilitate social logins, social sharing and rich-media content embeds. Any information that you receive via FT.com is at best delayed intraday data and not "real time". 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 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. GAL $ 0.790 -0.040 -4.82% Data last updated: Apr 28, 2023 3.56pm. We can see that individual investors own the lion's share in the company with 44% ownership. 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. Please read our Financial Services Guide before deciding whether to obtain financial services from us. 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. Phone: (03) 8592 4841 The Fraser Range project consists of licences which are propspective for nickel, copper, and cobalt. This article contains general investment advice only (under AFSL 400691). Public companies currently own 17% of Galileo Mining stock. April 29, 2023 | We are delighted with the strong market support for our placement which puts us in an excellent position to expand the drilling programs at our recent Callisto palladium-nickel discovery, said MD Brad Underwood. The Motley Fool Australia operates under AFSL 400691. Do the positives outweigh the negatives with BHP'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. Shares in the base metals explorer are skyrocketing today. Please sign in or register. Legend Mining welcomes maiden nickel, copper and cobalt resource Legend Mining hits Octagonal running with seismic data acquisition. See our Cookie Policy for more information. EMAILTHISARTICLE. 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. Authorised by Scott Phillips. Past performance is not necessarily indicative of future returns. Legend Mining continues evolution of the Mawson story with more massive sulphides intersected. Goldman Sachs says these are the lithium shares to buy due to a 'game changing' technology. Mark Creasy has upped his stake in Galileo Mining after its big Callisto palladium discovery last week. Some 170-million shares will be placed, at a price of A$1.20 a share under Galileos existing placement capacity. 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. Receive daily sector news alerts. All content on FT.com is for your general information and use only and is not intended to address your particular requirements. 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. Select your default regional edition of MiningWeekly.com. 337927). 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. Return vs Market: GAL exceeded the Australian Market which returned -5.5% over the past year. 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. But it might be worth checking if those insiders have been selling. April 28, 2023 | That is, insiders Click on the button below to clear your default MiningWeekly.com regional edition. The Galileo Mining share price soared 83% in the past year while it is up 116% year to date. Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. In other words, the group stands to gain the most (or lose the most) from their investment into the company. To get a sense of who is truly in control of Galileo Mining Ltd (ASX:GAL), it is important to understand the ownership structure of the business. May 1, 2023 | Lets take a look at what Galileo Mining announced today. 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. Have feedback on this article? Our most recent data indicates that insiders own some shares in Galileo Mining Ltd. See our latest analysis for Galileo Mining. Listen to Our Podcast Hear our experts take on shares, the market & how to invest. Creasy Group has a 26.66% holding in Legend while IGO's stake stands at 14.12%. Australian Gold Resources Pty. Please remember that investments can go up and down. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. In the last year, its cash burn was 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 addition, we found that Richard Underwood, the CEO has 4.4% of the shares allocated to their name. 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. Less than 5% of Galileo Mining is held by institutional investors. than 75% of Australian stocks over the past 3 months. IGO and mining billionaire Mark Creasy are expected to cornerstone WA cobalt and nickel explorer Galileo Minings share placement. WebInsiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year. FT is not responsible for any use of content by you outside its scope as stated in the. 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. 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. Mr Creasy continues to be the largest shareholder, controlling approximately 27.5 percent of the 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. The Company holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. Postal Address: PO Box 415 West Perth WA 6872 P: +61 (0) 8 9324 2099 F: +61 (0) 8 9321 2337 E: info@galileomining.com.au W: Galileo Mining Ltd is an Australia-based mining and exploration company. Substantial Shareholders A substantial shareholder is a person or entity that owns 5% or more of the voting shares in a company. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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 The general public, who are usually individual investors, hold a 44% stake in Galileo Mining. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research. This represents an interest of 26.35%. 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. When multiple institutional investors want to buy shares, we often see a rising share price. Analysts have been running the rule over this lithium giant's latest update. On the market this morning, Galileo were up 1.13 per cent and trading at $1.31 per share at 11:22 am AEST. 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. 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. Galileo is exploring its 100% owned Norseman project in Western Australia. Copyright Proactive Group Holdings Inc, 2023. WebGalileo Mining listed on the ASX in May 2018, raising $15 million in IPO funding. Please enter the email address that you used to subscribe on Mining Weekly. Contact Details: The third reverse circulation drill program is scheduled to begin at the end of July with diamond drilling planned to commence in August. If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, backed by strong financial data. WebGalileo Mining Ltd (ASX:GAL) insider upped their holding earlier this year. In terms of relative price strength the Galileo Mining share price has Under the placement, Galileo will issue 17 million shares for $1.20 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. 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. 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.. Join Our Premium Community WebThe current holdings of RMI directors. 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. Ltd. is currently the company's largest shareholder with 21% of shares outstanding. 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. Our friendly customer service team will happily get back to you as soon as they can. We look forward to updating the market as work progresses on this exciting new West Australian discovery. 13 Colin Street West Perth WA 6000 . Postal Address: PO Box 415 West Perth WA 6872 P: +61 (0) 8 9324 2099 F: +61 (0) 8 9321 2337 E: info@galileomining.com.au W: www.galileomining.com.au. 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 Motley Fool Australia does not guarantee the performance of, or returns on any investment. Some would say this shows alignment of interests between shareholders and the board, though we generally prefer to see bigger insider holdings. The Company is engaged in the development and exploration of cobalt, nickel laterite and 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. The companys shares are currently trading at 50 cents apiece, a 150% gain. Advertising Cookies collect information about your browsing habits such as the pages you visit and links you follow. May 1, 2023 | SMARTER, HAPPIER, AND RICHER. Brooke Cooper, April 30, 2023 | Company Buyback. 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. 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 its Callisto palladium/nickel discovery, in Western Australia. Galileo Mining Ltd is an Australia-based mining and exploration company. These cookies are used to deliver our website and content. The placement closed oversubscribed with cornerstone investments of $8.7 million by major shareholders Mark Creasy and IGO. Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. Share Registry. We note that hedge funds don't have a meaningful investment in Galileo Mining. Registered Office. Legendary explorer Mark Creasy is Galileo Minings biggest shareholder with nearly 25 per cent of the company. Managing Director Brad Underwood is delighted with the placement and is looking forward to explore the Callisto discovery. 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. Galileo Mining discovered significant palladium, platinum, copper, gold, and nickel mineralisation at the Norseman project in Western Australia. 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. Monica O'Shea. Galileo Mining (GAL) has received firm commitments to raise $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in WA. Terms of use. Let's find out. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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 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. We are currently completing our second RC drill campaign at Callisto with a geological update to be provided to the market on the completion of the program. This may be a strategic interest and the two companies may have related business interests. The Motley Fool has a disclosure policy. ARTICLE ENQUIRY, To subscribe email subscriptions@creamermedia.co.za or click here Simply Wall Street Pty Ltd (ACN 600 056 611), is a Corporate Authorised Representative (Authorised Representative Number: 467183) of Sanlam Private Wealth Pty Ltd (AFSL No. The company explores for cobalt, nickel, lithium, and copper, as well as nickel sulphides. All Rights Reserved - Proactive Australia PTY LTD ACN:132787654 ABN:19132787654. Our latest articles and strategies for the post-work life you want. Use our equities screener to discover other potential opportunities. The Galileo Mining Ltd ( ASX: GAL) share price is soaring today on the back of a major discovery. Join our flagship membership service, Share Advisor. Data delayed 15 minutes unless otherwise indicated. Should your cookies be reset then you may again use the drop-down menu to select a default region. 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. 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. has decreased from 36% to 12% over the past year, but is still higher than 75% of Australian stocks. As far as we can tell there isn't analyst coverage of the company, so it is probably flying under the radar. The Company holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. Stable Share Price: GAL is more volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 12% a week. 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. Learn More. This website uses cookies so that we can provide you with the best user experience possible. Insiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year. Webshareholders including Mark Creasy (approximately 31%), Independence Group (4.9%) and Chris Ellison (4.2%). This holding is probably worth investigating further. Galileo Mining Ltd engages in the exploration of mineral deposits in Western Australia. By: Esmarie Iannucci You can do it. Private companies may be related parties. This may not be consistent with full year annual report figures. Funds will be used to expand drilling at the new discovery, testing the five-kilometre prospective strike length, as well as drilling at the Mission Sill and Jimberlana prospects. We take a look at how you could receive passive income from two iron ore miners. Profile data is unavailable for this security. To make the world Smarter, Happier, And Richer. Galileo noted it also has multiple targets at the companys Jimberlana and Mission Sill prospects, providing the opportunity for more discoveries. Sign Up for Take Stock 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. 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 Jul 4, 2022 Anthony Macdonald, Subscriptions are available via the Creamer Media Store. Share price information may be rounded up/down and therefore not entirely accurate. WebGalileo Mining Limited. 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 IGO has reported EBITDA of $533 million and net profit after tax of $412 million for the March quarter. Data delayed at least 20 minutes, as of May 01 2023 07:10 BST. 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. Get in touch with us directly. These audience insights are used to make our website more relevant. We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library. GALILEO MINING LTD : Forcasts, revenue, earnings, analysts expectations, ratios for GALILEO MINING LTD Stock | GAL | AU0000007510 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. Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. 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.
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