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. 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. 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. According to a change of substantial holding notice, Mark Creasy has increased his stake by 3 million shares to 44,371,895 shares. Under the placement, Galileo will issue 17 million shares for $1.20 each. Taking note of what the big end of town is doing can provide insights for ordinary ASX shares investors. The Motley Fool has a disclosure policy. Companies Like Galileo Mining (ASX:GAL) Are In A Position To 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. Please sign in or register. Galileo raises A$20.4m for exploration - Mining Weekly Legends Mark Wilson (centre) with Mark Creasy (left) and IGOs Peter Bradford, Legend Mining plans RC drilling to test new targets on extended Mawson footprint, Legend Mining kicks off 3,000-metre RC drilling program at Mawson on Fraser Range, Emyria progresses pivotal EMD-RX5 Phase 3 trial for treatment of psychological distress, Element 25 progresses staged development plan for Butcherbird to cater for current and new manganese markets, Flynn Gold in midst of exploration at Trafalgar gold discovery in Tasmania, Africa Oil is a full-cycle upstream oil and gas company with producing assets, Metas Mark Zuckerberg: Facebook founder is failing to keep up with the times, ChatGPT back online in Italy after implementing privacy measures, Flynn Gold appoints chief executive officer Neil Marston as managing director, Impact Minerals raises $4 million; goes full steam ahead with Lake Hope HPA Project in WA, Element 25 and car giant Stellantis extend key offtake and funding dates, Emyria completes $2.5M placement to advance MDMA-assisted therapy, 88 Energy: Unlocking potential on Alaska's North Slope, Thor Energy well placed to leverage off its uranium and energy metals projects, Strata Investment to focus on natural resources opportunities, MGC Pharmaceuticals to accelerate clinical pipeline development, ioneer's Rhyolite Ridge lithium-boron project in US poised to take advantage of global shift toward sustainable energy solutions, Imugene ends June 2021 quarter with $29.5m cash balance and strong focus on research and development, Venture Minerals Ltd on track to unlock potential of one of the worlds largest tin deposits, Australian Strategic Materials advances towards production at Korean Metals Plant in second half 2021, Antipa Minerals advances two-pronged approach to gold-copper development in Paterson Province, Queensland Pacific Metals advances financing for its 'green' Townsville Energy Chemicals Hub Project, Nvidias contradictory relationship with crypto mining, SPAC to square one: The boom and bust of the blank cheque market. Australian Gold Resources Pty. So they generally do consider buying larger companies that are included in the relevant benchmark index. But to understand Galileo Mining better, we need to consider many other factors. 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. 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. You can do it. 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. Galileo Mining discovered significant palladium, platinum, copper, gold, and nickel mineralisation at the Norseman project in Western Australia. 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. Creamer Media Senior Deputy Editor: Australasia, ARTICLE ENQUIRY 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. We can see that individual investors own the lion's share in the company with 44% ownership. than 75% of Australian stocks over the past 3 months. Galileo Mining Ltd is an Australia-based mining and exploration company. Galileo Mining We aim to bring you long-term focused analysis driven by fundamental data. Registered Office. Resource Mining Corporation Ltd Advertising Cookies collect information about your browsing habits such as the pages you visit and links you follow. Our friendly customer service team will happily get back to you as soon as they can. has decreased from 36% to 12% over the past year, but is still higher than 75% of Australian stocks. 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. Legend Mining prepares to test most exciting diamond drill Legend Mining talks Octagonal prospect potential at Rockford. Galileo Mining Ownership - Simply Wall St Learn More. IGO has reported EBITDA of $533 million and net profit after tax of $412 million for the March quarter. Galileo Mining (GAL) has received firm commitments to raise $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in WA. 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. Our most recent data indicates that insiders own some shares in Galileo Mining Ltd. 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 Private companies may be related parties. 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. This suggests that some funds have the company in their sights, but many have not yet bought shares in it. The Company is engaged in the development and exploration of cobalt, nickel laterite and Analysts have been running the rule over this lithium giant's latest update. Have feedback on this article? Stable Share Price: GAL is more volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 12% a week. The Company is engaged in the development and exploration of cobalt, nickel laterite and We note that hedge funds don't have a meaningful investment in Galileo Mining. 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. 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 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 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. Less than 5% of Galileo Mining is held by institutional investors. 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. 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. 337927). Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Galileo Mining 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. This website uses cookies so that we can provide you with the best user experience possible. Profile data is unavailable for this security. The Galileo Mining Ltd ( ASX: GAL) share price is soaring today on the back of a major discovery. The top 20 shareholders on listing held 57% of the stock. Copyright Proactive Group Holdings Inc, 2023. Galileo noted it also has multiple targets at the companys Jimberlana and Mission Sill prospects, providing the opportunity for more discoveries. Monica O'Shea. The Company holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. Should your cookies be reset then you may again use the drop-down menu to select a default region. Insiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year.
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