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, Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email: [emailprotected] 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. Our most recent data indicates that insiders own some shares in Galileo Mining Ltd. With 17% and 6.5% of the shares outstanding respectively, IGO Limited and Yandal Investments Pty Ltd are the second and third largest shareholders. 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: In their own names, insiders own AU$12m worth of stock in the AU$155m company. Data delayed at least 20 minutes, as of May 01 2023 07:10 BST. The Motley Fool Australia does not guarantee the performance of, or returns on any investment. 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. 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. Should your cookies be reset then you may again use the drop-down menu to select a default region. Webshareholders including Mark Creasy (approximately 31%), Independence Group (4.9%) and Chris Ellison (4.2%). The Galileo Mining Ltd ( ASX: GAL) share price is soaring today on the back of a major discovery. l. The Fraser Range project consists of licences which are propspective for nickel, copper, and cobalt. Company Buyback. 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. 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. Overview Legend and its respected two high-profile partners Rockford partners hold considerable expertise on Fraser Range district mineralisation styles. Get Started Investing Galileo Mining Ltd Follow Mineral exploration. Our data indicates that Private Companies hold 30%, of the company's shares. This article contains general investment advice only (under AFSL 400691). Share Registry. Use our equities screener to discover other potential opportunities. April 29, 2023 | The companys shares are currently trading at 50 cents apiece, a 150% gain. Please read our Financial Services Guide before deciding whether to obtain financial services from us. 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 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. has decreased from 36% to 12% over the past year, but is still higher than 75% of Australian stocks. We aim to bring you long-term focused analysis driven by fundamental data. Galileo Mining (GAL) has received firm commitments to raise $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in WA. Subscriptions are available via the Creamer Media Store. Get in touch with us directly. Some 170-million shares will be placed, at a price of A$1.20 a share under Galileos existing placement capacity. When not writing for Motley Fool Australia, Monica enjoys travel, sport, music, and likes to play the violin in her spare time. Profile data is unavailable for this security. Phone: (03) 8592 4841 We note that hedge funds don't have a meaningful investment in Galileo Mining. WebShares in Galileo Mining last closed at AU$0.70 and the price had moved by +191.67% over the past 365 days. When multiple institutional investors want to buy shares, we often see a rising share price. The past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees. 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. The company on Wednesday said that it has already received firm commitments for the placement. Australian Gold Resources Pty. Under the placement, Galileo will issue 17 million shares for $1.20 each. Legendary explorer Mark Creasy is Galileo Minings biggest shareholder with nearly 25 per cent of the company. 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. 13 Colin Street West Perth WA 6000 . 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. 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. 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. Mark Creasy has upped his stake in Galileo Mining after its big Callisto palladium discovery last week. 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 Company's flagship projects are the Norseman and Fraser Range projects. Win at Retirement Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Any information that you receive via FT.com is at best delayed intraday data and not "real time". May 1, 2023 | Analysts have been running the rule over this lithium giant's latest update. Galileo Mining Ltd (ASX:GAL)s Brad Underwood speaks with Proactives 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.The Placement received heavy backing - about Learn More. As far as we can tell there isn't analyst coverage of the company, so it is probably flying under the radar. Concerned about the content? Let's find out. The Motley Fool has a disclosure policy. Return vs Industry: GAL exceeded the Australian Metals and Mining industry which returned -7.6% over the past year. 337927). Galileo Mining is an ASX-listed company (ASX: GAL) focussed on the discovery of base metals in Western Australia. Galileo Mining (ASX: GAL) latest news, share price, company information, stock chart and announcements on Australia's #1 site for investors, Small Caps. GALILEO MINING LTD : Forcasts, revenue, earnings, analysts expectations, ratios for GALILEO MINING LTD Stock | GAL | AU0000007510 Data is 20 mins delayed. See our Cookie Policy for more information. This represents an interest of 26.35%. 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. April 28, 2023 | Insiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year. Ltd. is currently the company's largest The Company is engaged in the development and exploration of cobalt, nickel laterite and nickel-copper EMAILTHISARTICLE. 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. Mr Creasy continues to be the largest shareholder, controlling approximately 27.5 percent of the This lithium giant could still have room to climb higher from current levels according to one broker. 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. WebThe current holdings of RMI directors. The Fraser Range project consists of licences which are propspective for nickel, copper, and cobalt. Automic Group Level 5, 191 St Georges Terrace Perth WA 6000 P: 1300 288 644 (within Australia) 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. Share price information may be rounded up/down and therefore not entirely accurate. 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. You must be a registered user to save alerts. SMARTER, HAPPIER, AND RICHER. Select your default regional edition of MiningWeekly.com. Our latest articles and strategies for the post-work life you want. 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. 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. WebInsider Buying: GAL insiders have bought more shares than they have sold in the past 3 months. James Mickleboro. WebGalileo Mining listed on the ASX in May 2018, raising $15 million in IPO funding. IGO has reported EBITDA of $533 million and net profit after tax of $412 million for the March quarter. Do the positives outweigh the negatives with BHP's shares? 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. Return vs Market: GAL exceeded the Australian Market which returned -5.5% over the past year. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. All Rights Reserved - Proactive Australia PTY LTD ACN:132787654 ABN:19132787654. 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 Click on the button below to clear your default MiningWeekly.com regional edition. Why did the NAB share price smash the ASX 200 in April? James Mickleboro. 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Receive daily sector news alerts. Past performance is not necessarily indicative of future returns. Galileo Mining Ltd is an Australia-based mining and exploration company. Galileo expects to begin a third RC program at the end of this month and will be followed by diamond drilling in August. 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. The placement closed oversubscribed with cornerstone investments of $8.7 million by major shareholders Mark Creasy and IGO. 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. This suggests that some funds have the company in their sights, but many have not yet bought shares in it. 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. TO MAKE THE WORLD Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. Institutional investors commonly compare their own returns to the returns of a commonly followed index. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. Strictly necessary cookies relate to our hosting environment, and functional cookies are used to facilitate social logins, social sharing and rich-media content embeds. Meanwhile, private companies make up 30% of the companys shareholders. These audience insights are used to make our website more relevant. 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. See our latest analysis for Galileo Mining. 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. 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Monica has a keen interest in finance and the share market and enjoys exploring the highs and lows. The Motley Fool Australia operates under AFSL 400691. In comparison, the S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.08% at the time of writing. 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. It's always worth thinking about the different groups who own shares in a company. than 75% of Australian stocks over the past 3 months. Market Indices, Commodities and Regulatory News Headlines copyright Morningstar. Sign Up for Take Stock Galileo Mining Ltd engages in the exploration of mineral deposits in Western Australia. Data delayed 15 minutes unless otherwise indicated. The general public, who are usually individual investors, hold a 44% stake in Galileo Mining. Join Our Premium Community Shareholder Info Top 20 Shareholders About the Data Shareholder Distribution As reported in the most recent Annual Report. It could be that they have de-merged. May 1, 2023 | The billionaire prospector extraordinaire is credited with For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has fallen 7% in a year. So they generally do consider buying larger companies that are included in the relevant benchmark index. Some would say this shows alignment of interests between shareholders and the board, though we generally prefer to see bigger insider holdings. Bronwyn Allen. Shares in the base metals explorer are skyrocketing today. The Company holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. Terms of use. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. Contact Details: 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. WebInsiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year. The company explores for cobalt, nickel, lithium, and copper, as well as nickel sulphides. 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. WebName No. Legend Mining welcomes maiden nickel, copper and cobalt resource Legend Mining hits Octagonal running with seismic data acquisition. WebGalileo Mining Ltd is an Australia-based mining and exploration company. ARTICLE ENQUIRY, To subscribe email subscriptions@creamermedia.co.za or click here Goldman Sachs says these are the lithium shares to buy due to a 'game changing' technology. 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. 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. Galileo Mining Ltd is an Australia-based mining and exploration company. The Galileo Mining share price soared 83% in the past year while it is up 116% year to date. We take a look at how you could receive passive income from two iron ore miners. Your password will be sent to this address. Galileo Mining Ltd is an Australia-based mining and exploration company. Investment news, stock ideas, and more, straight to your inbox. In addition, we found that Richard Underwood, the CEO has 4.4% of the shares allocated to their name. The Company is engaged in the development and exploration of cobalt, nickel laterite and Ownership Breakdown Dilution of Shares: Shareholders have been diluted in the Managing Director Brad Underwood is delighted with the placement and is looking forward to explore the Callisto discovery. This may not be consistent with full year annual report figures. The placement closed oversubscribed with cornerstone investments of $8.7 million by major shareholders Mark Creasy and IGO. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. The Motley Fool Australia has no position in any of the stocks mentioned. However, high insider ownership can also give immense power to a small group within the company. We look forward to updating the market as work progresses on this exciting new West Australian discovery. We can see that individual investors own the lion's share in the company with 44% ownership. The company is exploring for high grade palladium-platinum-nickel-copper-cobalt resources at its Norseman project and large scale magmatic nickel copper deposits in the Fraser Range. But to understand Galileo Mining better, we need to consider many other factors. The Company is engaged in the development and exploration of cobalt, nickel laterite and nickel-copper-cobalt sulphide projects in Western Australia. Galileo Mining (GAL) has received firm commitments to raise $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in WA. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. This website uses cookies so that we can provide you with the best user experience possible. We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library. 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. Join our flagship membership service, Share Advisor. The Norseman project consists of granted exploration licences and is prospective for cobalt and nickel. 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. 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. Galileo Mining has amarket capitalisationof about $81 million. Note: Search is limited to the most recent 250 articles. Ltd. is currently the company's largest shareholder with 21% of shares outstanding. Less than 5% of Galileo Mining is held by institutional investors. This may be a strategic interest and the two companies may have related business interests. This holding is probably worth investigating further. By: Esmarie Iannucci You can do it. Top 20 By Shareholder. 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. 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. Registered Office. Monica completed a cadetship in 2013. 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. Creasys Nova-Bollinger discovery helped start what is known as the Great Nickel Rush on Fraser Range. 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. To that end, you should learn about the 4 warning signs we've spotted with Galileo Mining (including 2 which are concerning) . 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. According to a change of substantial holding notice, Mark Creasy has increased his stake by 3 million shares to 44,371,895 shares. All content on FT.com is for your general information and use only and is not intended to address your particular requirements. 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. Lets take a look at what Galileo Mining announced today. Australian Gold Resources Pty. 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. Brooke Cooper, April 30, 2023 | Please sign in or register. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Advertising Cookies collect information about your browsing habits such as the pages you visit and links you follow. The Top 20 Shareholders of GAL hold 0% of shares on issue. As reported in the most recent Annual Report. A substantial shareholder is a person or entity that owns 5% or more of the voting shares in a company. Shares can be held through multiple entities, so the Substantial Shareholders list differs from the Top 20 Shareholders list. WebGalileo Mining Limited. The third reverse circulation drill program is scheduled to begin at the end of July with diamond drilling planned to commence in August. 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 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 Copyright Proactive Group Holdings Inc, 2023. Learn about investing with our Investing Education hub. The Company is engaged in the development and exploration of cobalt, nickel laterite and
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