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. Lets take a look at what Galileo Mining announced today. 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. Galileo noted it also has multiple targets at the companys Jimberlana and Mission Sill prospects, providing the opportunity for more discoveries. GAL $ 0.790 -0.040 -4.82% Data last updated: Apr 28, 2023 3.56pm. 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: The Galileo Mining Ltd ( ASX: GAL) share price is soaring today on the back of a major discovery. 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. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. In the chart below, we zoom in on the different ownership groups of Galileo Mining. 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. 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 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. 337927). Some 170-million shares will be placed, at a price of A$1.20 a share under Galileos existing placement capacity. Public companies currently own 17% of Galileo Mining stock. 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. Legend and its respected two high-profile partners Rockford partners hold considerable expertise on Fraser Range district mineralisation styles. This may not be consistent with full year annual report figures. The Galileo Mining Ltd(ASX: GAL) share price is soaring today on the back of a major discovery. SMARTER, HAPPIER, AND RICHER. This can be negative in some circumstances. Private companies may be related parties. Authorised by Scott Phillips. So they generally do consider buying larger companies that are included in the relevant benchmark index. 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. Creasys Nova-Bollinger discovery helped start what is known as the Great Nickel Rush on Fraser Range. 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. When multiple institutional investors want to buy shares, we often see a rising share price. However, high insider ownership can also give immense power to a small group within the company. 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. 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. Shareholder Info Top 20 Shareholders About the Data Shareholder Distribution As reported in the most recent Annual Report. 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. Our friendly customer service team will happily get back to you as soon as they can. See our Cookie Policy for more information. 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 In terms of relative price strength the Galileo Mining share price has Automic Group Level 5, 191 St Georges Terrace Perth WA 6000 P: 1300 288 644 (within Australia) Concerned about the content? Profile data is unavailable for this security. 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. Please sign in or register. 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. Listen to Our Podcast 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 Mining Ltd engages in the exploration of mineral deposits in Western Australia. 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 Under the placement, Galileo will issue 17 million shares for $1.20 This suggests that some funds have the company in their sights, but many have not yet bought shares in it. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research. 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. 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 Ltd is an Australia-based mining and exploration company. 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. Galileo Mining discovered significant palladium, platinum, copper, gold, and nickel mineralisation at the Norseman project in Western Australia. Sign Up for Take Stock Share price information may be rounded up/down and therefore not entirely accurate. 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. Legend Mining prepares to test most exciting diamond drill Legend Mining talks Octagonal prospect potential at Rockford. 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. Click on the button below to clear your default MiningWeekly.com regional edition. Our most recent data indicates that insiders own some shares in Galileo Mining Ltd. 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. 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. Bronwyn Allen. WebGalileo Mining Limited. We note that hedge funds don't have a meaningful investment in Galileo Mining. 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. Your password will be sent to this address. Do the positives outweigh the negatives with BHP's shares? This may be a strategic interest and the two companies may have related business interests. Past performance is not necessarily indicative of future returns. Join Our Premium Community The Motley Fool Australia does not guarantee the performance of, or returns on any investment. That is, insiders 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 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. April 28, 2023 | 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. We use this information to make our site faster, more relevant and improve the navigation for all users. According to a change of substantial holding notice, Mark Creasy has increased his stake by 3 million shares to 44,371,895 shares. James Mickleboro. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Legendary explorer Mark Creasy is Galileo Minings biggest shareholder with nearly 25 per cent of the company. This represents an interest of 26.35%. Receive daily sector news alerts. The Motley Fool has a disclosure policy. Use our equities screener to discover other potential opportunities. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. Ltd. is currently the company's largest shareholder with 21% of shares outstanding. Galileo Mining Ltd Follow Mineral exploration. Join our flagship membership service, Share Advisor. The billionaire prospector extraordinaire is credited with IGO and mining billionaire Mark Creasy are expected to cornerstone WA cobalt and nickel explorer Galileo Minings share placement. This holding is probably worth investigating further. Jul 4, 2022 Anthony Macdonald, Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Market Indices, Commodities and Regulatory News Headlines copyright Morningstar. The placement will increase Galileos total cash balance to around $26.5 million. separate emails by commas, maximum limit of 4 addresses, 6th July 2022 You can do it. 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. 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. 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. 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 Smarter, Happier, And Richer. 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. The Company is engaged in the development and exploration of cobalt, nickel laterite and Contact Details: We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. Galileo Mining (ASX: GAL) latest news, share price, company information, stock chart and announcements on Australia's #1 site for investors, Small Caps. We can see that individual investors own the lion's share in the company with 44% ownership. WebInsider Buying: GAL insiders have bought more shares than they have sold in the past 3 months. Galileo is exploring its 100% owned Norseman project in Western Australia. These cookies are used to deliver our website and content. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Insiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year. Mr Creasy continues to be the largest shareholder, controlling approximately 27.5 percent of the Learn More. Under the placement, Galileo will issue 17 million shares for $1.20 each. 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. Hear our experts take on shares, the market & how to invest. Monica has a keen interest in finance and the share market and enjoys exploring the highs and lows. WebGet detailed information on GALILEO MINING LTD (GAL.AX) including stock quotes, financial news, historical charts, company background, company fundamentals, company financials, insider trades, annual reports and historical prices in the Company Factsheet. We look forward to updating the market as work progresses on this exciting new West Australian discovery. All Rights Reserved - Proactive Australia PTY LTD ACN:132787654 ABN:19132787654. Substantial Shareholders A substantial shareholder is a person or entity that owns 5% or more of the voting shares in a company. In addition, we found that Richard Underwood, the CEO has 4.4% of the shares allocated to their name. You must be a registered user to save alerts. Creamer Media Senior Deputy Editor: Australasia, ARTICLE ENQUIRY Monica completed a cadetship in 2013. 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. Strictly necessary cookies relate to our hosting environment, and functional cookies are used to facilitate social logins, social sharing and rich-media content embeds. TO MAKE THE WORLD Brooke Cooper, April 30, 2023 | Institutional investors commonly compare their own returns to the returns of a commonly followed index. See historical performance and comparison, Metals and Mining Industry Average Movement. Monica O'Shea. Phone: (03) 8592 4841 In the last year, its cash burn was The Company's flagship projects are the Norseman and Fraser Range projects. IGO has reported EBITDA of $533 million and net profit after tax of $412 million for the March quarter. Our data indicates that Private Companies hold 30%, of the company's shares. 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. Share Registry. Advertising Cookies collect information about your browsing habits such as the pages you visit and links you follow. Some would say this shows alignment of interests between shareholders and the board, though we generally prefer to see bigger insider holdings. 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 Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The Norseman project consists of granted exploration licences and is prospective for cobalt and nickel. Get Started Investing This lithium giant could still have room to climb higher from current levels according to one broker. Data delayed at least 20 minutes, as of May 01 2023 07:10 BST. Goldman Sachs says these are the lithium shares to buy due to a 'game changing' technology. Ltd. is currently the company's largest Return vs Market: GAL exceeded the Australian Market which returned -5.5% over the past year. The Company is engaged in the development and exploration of cobalt, nickel laterite and nickel-copper-cobalt sulphide projects in Western Australia. For more information please see our Financial Services Guide. 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. 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. Meanwhile, private companies make up 30% of the companys shareholders. This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. 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. The placement closed oversubscribed with cornerstone investments of $8.7 million by major shareholders Mark Creasy and IGO. 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. James Mickleboro. As far as we can tell there isn't analyst coverage of the company, so it is probably flying under the radar. The general public, who are usually individual investors, hold a 44% stake in Galileo Mining. Legend Mining welcomes maiden nickel, copper and cobalt resource Legend Mining hits Octagonal running with seismic data acquisition. The Company is engaged in the development and exploration of cobalt, nickel laterite and 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. To that end, you should learn about the 4 warning signs we've spotted with Galileo Mining (including 2 which are concerning) . 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 is engaged in the development and exploration of cobalt, nickel laterite and nickel-copper Let's find out. Return vs Industry: GAL exceeded the Australian Metals and Mining industry which returned -7.6% over the past year. Should your cookies be reset then you may again use the drop-down menu to select a default region. Overview Company Buyback. Shares in the base metals explorer are skyrocketing today. On the market this morning, Galileo were up 1.13 per cent and trading at $1.31 per share at 11:22 am AEST. Galileo Mining Ltd is an Australia-based mining and exploration company. WebThe current holdings of RMI directors. WebGalileo Mining Ltd is an Australia-based mining and exploration company. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. Get in touch with us directly. 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. April 29, 2023 | In the past month, the companys shares have rocketed 120% and are 106% higher in the past week alone. Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Galileo Mining Ltd engages in the exploration of mineral deposits in Western Australia. 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 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. 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. WebGalileo Mining Ltd (ASX:GAL) insider upped their holding earlier this year. 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. Galileo Mining (ASX:GAL) sees increasing grades at Callisto discovery, WA Galileo Mining (GAL) has recorded increasing palladium, nickel and copper grades at Carolyn Rebeiro 04 January 2023 10:58 (AEST) 783 views 2 minute read ASX News Materials Galileo Mining (ASX:GAL) strikes high-grade nickel sulphide at Callisto, WA When not writing for Motley Fool Australia, Monica enjoys travel, sport, music, and likes to play the violin in her spare time. 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. Mark Creasy has upped his stake in Galileo Mining after its big Callisto palladium discovery last week. We note that hedge funds don't have a meaningful investment in Galileo Mining. The Galileo Mining share price soared 83% in the past year while it is up 116% year to date. Learn about investing with our Investing Education hub. 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. Creasy is well known for his gold finds and lucrative company exits, making the Guinness World Records in 1994 for pocketing $130 million in a gold deposits exit, the largest ever payout received by a prospector. Galileo expects to begin a third RC program at the end of this month and will be followed by diamond drilling in August. Terms of use. ARTICLE ENQUIRY, To subscribe email subscriptions@creamermedia.co.za or click here SAVE THIS ARTICLE Legend Mining continues evolution of the Mawson story with more massive sulphides intersected. Performance Cookies collect anonymous information designed to help us improve the site and respond to the needs of our audiences. Galileo Mining has amarket capitalisationof about $81 million. Australian Gold Resources Pty. 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. Why did the NAB share price smash the ASX 200 in April? 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. 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. Email: [emailprotected] 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.
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