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. Return vs Market: GAL exceeded the Australian Market which returned -5.5% over the past year. Galileo Mining discovered significant palladium, platinum, copper, gold, and nickel mineralisation at the Norseman project in Western Australia. 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 Learn More. Let's find out. Use our equities screener to discover other potential opportunities. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Taking note of what the big end of town is doing can provide insights for ordinary ASX shares investors. This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. Creamer Media Senior Deputy Editor: Australasia, ARTICLE ENQUIRY Please remember that investments can go up and down. The Fraser Range project consists of licences which are propspective for nickel, copper, and cobalt. Legend and its respected two high-profile partners Rockford partners hold considerable expertise on Fraser Range district mineralisation styles. Do the positives outweigh the negatives with BHP's shares? 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 The Company is engaged in the development and exploration of cobalt, nickel laterite and nickel-copper has decreased from 36% to 12% over the past year, but is still higher than 75% of Australian stocks. 337927). WebGalileo Mining listed on the ASX in May 2018, raising $15 million in IPO funding. 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. Galileo Mining is an ASX-listed company (ASX: GAL) focussed on the discovery of base metals in Western Australia. GALILEO MINING LTD : Forcasts, revenue, earnings, analysts expectations, ratios for GALILEO MINING LTD Stock | GAL | AU0000007510 Insiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year. 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. But to understand Galileo Mining better, we need to consider many other factors. Galileo Mining (GAL) has received firm commitments to raise $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in WA. Data is 20 mins delayed. Monica completed a cadetship in 2013. Bronwyn Allen. However, high insider ownership can also give immense power to a small group within the company. Goldman Sachs says these are the lithium shares to buy due to a 'game changing' technology. Mr Creasy continues to be the largest shareholder, controlling approximately 27.5 percent of the 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. Galileo said this shows the potential for a large mineralised system. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. James Mickleboro. So they generally do consider buying larger companies that are included in the relevant benchmark index. ARTICLE ENQUIRY, To subscribe email subscriptions@creamermedia.co.za or click here Receive daily sector news alerts. Ltd. is currently the company's largest 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. The company on Wednesday said that it has already received firm commitments for the placement. Data as of May 01 2023. separate emails by commas, maximum limit of 4 addresses, 6th July 2022 Sign Up for Take Stock Shares in the base metals explorer are skyrocketing today. That is, insiders Brooke Cooper, April 30, 2023 | WebShares in Galileo Mining last closed at AU$0.70 and the price had moved by +191.67% over the past 365 days. Ltd. is currently the company's largest shareholder with 21% of shares outstanding. Our latest articles and strategies for the post-work life you want. Market Indices, Commodities and Regulatory News Headlines copyright Morningstar. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. 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. The Galileo Mining share price soared 83% in the past year while it is up 116% year to date. 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. You must be a registered user to save alerts. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. In their own names, insiders own AU$12m worth of stock in the AU$155m company. As far as we can tell there isn't analyst coverage of the company, so it is probably flying under the radar. Join Our Premium Community The Motley Fool has a disclosure policy. The Motley Fool Australia does not guarantee the performance of, or returns on any investment. All content on FT.com is for your general information and use only and is not intended to address your particular requirements. Investment news, stock ideas, and more, straight to your inbox. Lets take a look at what Galileo Mining announced today. 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. Performance Cookies collect anonymous information designed to help us improve the site and respond to the needs of our audiences. Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. For story tips and broker tips, email me at, By clicking this button, you agree to our, Galileo Mining share price explodes 150% on major discovery, How Id generate $400 in monthly passive income from 2 ASX 200 iron ore shares. Under the placement, Galileo will issue 17 million shares for $1.20 Company Buyback. 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.. 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. Galileo Mining Ltd is an Australia-based mining and exploration company. 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. 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. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. Listen to Our Podcast We look forward to updating the market as work progresses on this exciting new West Australian discovery. The Motley Fool Australia has no position in any of the stocks mentioned. Return vs Industry: GAL exceeded the Australian Metals and Mining industry which returned -7.6% over the past year. Email: [emailprotected] 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. Legendary explorer Mark Creasy is Galileo Minings biggest shareholder with nearly 25 per cent of the company. than 75% of Australian stocks over the past 3 months. Data delayed at least 20 minutes, as of May 01 2023 07:10 BST. WebGalileo Mining Ltd (ASX:GAL) insider upped their holding earlier this year. 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. Strictly necessary cookies relate to our hosting environment, and functional cookies are used to facilitate social logins, social sharing and rich-media content embeds. 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. In other words, the group stands to gain the most (or lose the most) from their investment into the company. WebGalileo Mining Ltd is an Australia-based mining and exploration company. Automic Group Level 5, 191 St Georges Terrace Perth WA 6000 P: 1300 288 644 (within Australia) 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. Join our flagship membership service, Share Advisor. Some would say this shows alignment of interests between shareholders and the board, though we generally prefer to see bigger insider holdings. Webshareholders including Mark Creasy (approximately 31%), Independence Group (4.9%) and Chris Ellison (4.2%). Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Select your default regional edition of MiningWeekly.com. Get Started Investing Please sign in or register. 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. 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: 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. 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. Have feedback on this article? WebInsiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year. This lithium giant could still have room to climb higher from current levels according to one broker. Copyright Proactive Group Holdings Inc, 2023. The Company holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. 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. 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 Insider ownership is positive when it signals leadership are thinking like the true owners of the company. 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. To make the world Smarter, Happier, And Richer. We use this information to make our site faster, more relevant and improve the navigation for all users. Simply Wall St has no position in any stocks mentioned. 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. Galileo has Please read our Financial Services Guide before deciding whether to obtain financial services from us. 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. 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. Stable Share Price: GAL is more volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 12% a week. James Mickleboro. We note that hedge funds don't have a meaningful investment in Galileo Mining. The Galileo Mining Ltd(ASX: GAL) share price is soaring today on the back of a major discovery. This holding is probably worth investigating further. 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In terms of relative price strength the Galileo Mining share price has Your password will be sent to this address. WebInsider Buying: GAL insiders have bought more shares than they have sold in the past 3 months. Monica has a keen interest in finance and the share market and enjoys exploring the highs and lows. Some 170-million shares will be placed, at a price of A$1.20 a share under Galileos existing placement capacity. Legend Mining welcomes maiden nickel, copper and cobalt resource Legend Mining hits Octagonal running with seismic data acquisition. SMARTER, HAPPIER, AND RICHER. Public companies currently own 17% of Galileo Mining stock. Authorised by Scott Phillips. Galileo noted it also has multiple targets at the companys Jimberlana and Mission Sill prospects, providing the opportunity for more discoveries. When multiple institutional investors want to buy shares, we often see a rising share price. The Motley Fool Australia operates under AFSL 400691. Phone: (03) 8592 4841 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. So if the company itself can improve over time, we may well see more institutional buyers in the future. See our latest analysis for Galileo Mining. Past performance is not necessarily indicative of future returns. Ownership Breakdown Dilution of Shares: Shareholders have been diluted in the 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. This article contains general investment advice only (under AFSL 400691). 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. FT is not responsible for any use of content by you outside its scope as stated in the. WebThe current holdings of RMI directors. Why did the NAB share price smash the ASX 200 in April? 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. 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 is exploring its 100% owned Norseman project in Western Australia. WebBrad Underwood, Managing Director of Galileo Mining (ASX: GAL) will provide shareholders with an overview of the recent announced assay results from recent d Brad Underwood, To that end, you should learn about the 4 warning signs we've spotted with Galileo Mining (including 2 which are concerning) . 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. Ltd. is currently the company's largest shareholder with 21% of shares outstanding. Contact Details: Galileo Mining Ltd Follow Mineral exploration. Data delayed 15 minutes unless otherwise indicated. 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 Company holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. Overview 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. For more information please see our Financial Services Guide. l. The Fraser Range project consists of licences which are propspective for nickel, copper, and cobalt. Galileo Mining has amarket capitalisationof about $81 million. Creasys Nova-Bollinger discovery helped start what is known as the Great Nickel Rush on Fraser Range. Our data indicates that Private Companies hold 30%, of the company's shares.
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