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Pin to quick picksGalileo Resourc Share News (GLR)

Share Price Information for Galileo Resourc (GLR)

London Stock Exchange
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Share Price: 1.20
Bid: 1.15
Ask: 1.25
Change: 0.075 (6.67%)
Spread: 0.10 (8.696%)
Open: 1.125
High: 1.275
Low: 1.125
Prev. Close: 1.125
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EARNINGS: Rockfire interim loss widens due to increased expenses

Fri, 29th Sep 2023 12:21

(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Friday and not separately reported by Alliance News:

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Galileo Resources PLC - mining company focused on Zambia, Zimbabwe, Botswana, South Africa and the US - Pretax profit increases 14% to GBP1.6 million in its financial year ended March 31, from GBP1.4 million the year prior. Says operating expenses rise to GBP1.3 million, from GBP753,321. Chair Colin Bird says: "I look forward to the coming year, realising one of our projects, any one of which could be transformational for the company and its shareholder."

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Rockfire Resources PLC - Australia and Greece-focused base metal, gold, and critical mineral exploration company - Pretax loss widens to GBP411,145 in the first half of 2023, from GBP302,582 the year prior. Says loss is due to expenses from subsidiary Hellenic Minerals SA. Says interest income was GBP1.00, up from no income. Adds that it is targeting the acquisition of Emirates Gold DMCC and Emperesse Bullion LLC. Says these acquisitions will be "potentially transformational".

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Essentially Group PLC - UAE-based health food company - Posts a 14% revenue increase to GBP593,164 in the first half of 2023, from GBP519,311 the year prior. Says pretax loss widens to GBP400,175, from GBP176,808 a year ago. Adds that retail footprint grew 53% during the first half, with benefit of expansion to "materialise in the coming months". Notes that it listed on Aquis in March.

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Woodbois Ltd - Africa-focused forestry, timber trading and afforestation company - Says revenue decreased 57% to USD4.9 million in the first half of 2023, from USD11.3 million a year ago. Adds that pretax loss was USD3.4 million, widening from USD489,000 the year before. Notes unseasonal weather in the first quarter affected operations, as did a military coup in Gabon in the third quarter. Says it is "optimistic" that the fourth quarter onwards will see an upturn in activity, and aims to deliver positive earnings before interest, tax, depreciation and amortisation and profitability in 2024. Chief Executive David Rothschild says: "2023 has been a very difficult year for the company thus far, but having weathered some pretty severe challenges and having re-built the company's balance sheet, we now are rebuilding production, performance and profitability across the company's divisions."

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Bluejay Mining PLC - Greenland and Finland-focused miner - Says it swung to pretax loss of GBP659,135 in the first half of 2023, from profit of GBP524,724 a year ago. Adds that cost of sales rose to GBP32,033, from nothing a year ago. Notes that it raised GBP600,000 after the period's end, which it says will set it up for a "transformational 2024" by enabling it to develop it projects. Says it will continue to explore and develop its projects, and is aiming to increase their value. Adds that it is still "extremely well positioned" to deliver on its strategy. Does not declare a dividend for the first half, unchanged from a year ago.

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By Harvey Dorset, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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2 May 2024 15:45

EARNINGS AND TRADING: Trident Royalties swings to profit

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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19 Mar 2024 14:03

IN BRIEF: Galileo drill results show lithium enhancement at Kamativi

Galileo Resources PLC - Mining company focused on Zambia, Zimbabwe, Botswana, South Africa - Says phase one drill results for its 80% owned Kamativi lithium-tin project in Zimbabwe show "extensive" lithium enhancement. Results peak at 1.0% of lithium oxide over four metres. Adds that geological mapping and prospecting have identified mineralisation/alteration in pegmatites over at least 1.5 kilometre strike length, which has only been partially drill tested to date. Chief Executive Officer Colin Bird says: "An unusual feature of this discovery is the spread of highly anomalous lithium through the mica schist host rock, as opposed to being solely contained within the pegmatite. We have no doubt that discordant pegmatites are the drivers to lithium content and our mapping programmes have located more discordant pegmatites than previously recognised. On the basis that the nearby Kamativi mine was a long-producing tin operation it comes as no surprise that we also see anomalous tin associated with these discordant pegmatites, in some cases coincident with lithium."

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29 Feb 2024 18:06

TRADING UPDATES: United Oil adds Jamaica expert; Vaalco makes buy

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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1 Feb 2024 15:50

Galileo unveils two new copper targets within Kalahari Belt

(Sharecast News) - Galileo Resources unveiled two additional copper targets within the Kalahari Copper Belt on Thursday, following the recent discovery of three targets on PL253/2028.

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1 Feb 2024 14:27

TRADING UPDATES: Genflow wins new research grants; Seeen margin rises

(Alliance News) - The following is a round-up of trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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30 Jan 2024 14:20

TRADING UPDATES: Lexington completes Bothaville drilling phase

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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28 Dec 2023 16:41

Galileo Resources loss narrows in first half as expenses fall

(Alliance News) - Galileo Resources PLC on Thursday said it reduced its first-half loss as expenses and value adjustment losses narrowed during the period.

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7 Nov 2023 15:17

Galileo reports progress at Shinganda drilling

(Sharecast News) - Galileo Resources updated the market on its second-phase diamond drilling programme at the Shinganda copper-gold project in Zambia on Tuesday.

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7 Nov 2023 11:55

IN BRIEF: Galileo Resources Shinganda drilling progressing as expected

Galileo Resources PLC - Mining company focused on Zambia, Zimbabwe, Botswana, South Africa and the US - Says phase two drilling programme at Shinganda copper-gold project in Zambia is progressing as planned with seven holes completed to date. Says most recent hole SHDD017 has intercepted an "extensive interval of alteration and brecciation with associated copper mineralisation within the Shinganda fault splay system." Confirms mineralisation and says sampling for follow-up laboratory assaying is in progress. Chief Executive Officer Colin Bird says: "Hole SHDD017 is a particularly impressive hole with an intercept length of more than 250 [metres] which was heavily brecciated and accompanied by copper mineralisation throughout its length, with values to be determined by assay. The nature of the host environment is not typical for traditional copper belt mineralisation, which leads us to believe that this could be a totally different style of mineralisation."

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17 Oct 2023 16:20

IN BRIEF: Galileo Resources pleased with Kamativi drilling programme

Galileo Resources PLC - mining company focused on Zambia, Zimbabwe, Botswana, South Africa and the US - Says the phase 1 drilling programme at Kamativi for lithium and associated elements over a pegmatite-rich area of about 1 kilometre by 0.5 kilometres has been completed, for 1,428.4 metres in 10 holes. Notes mineralisation and alteration similar to that reported in the first hole, KSDD001 has been observed in several of the subsequent holes. Adds core logging and sampling is underway, preparing samples for export to the ALS laboratory in Johannesburg for lithium and associated element analysis. Undertakes infill soil sampling over a strong rare earth elements soil anomaly in the north-eastern sector of the licence and testing for copper in the southern part of the licence for VMS-type mineralisation.

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11 Oct 2023 13:31

Galileo Resources completes soil sampling programme in Botswana

(Alliance News) - Galileo Resources PLC on Wednesday said it completed a soil sampling programme for low detection TerraLeach mobile metal-ion geochemistry at the Kalahari copper belt in Botswana.

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20 Sep 2023 19:15

TRADING UPDATES: Thor Energy fundraise to support drilling activities

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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5 Sep 2023 19:42

IN BRIEF: Galileo Resources enters joint venture in Zambia

Galileo Resources PLC - mining company focused on Zambia, Zimbabwe, Botswana, South Africa and the US - Announces the company has entered into a joint venture agreement with Cooperlemon Consultancy Ltd in relation to the exploration for copper at large scale exploration license 28001-HQ-LEL in northwest Zambia. Colin Bird, executive chair said: "This acquisition is consistent with our policy of acquiring opportunity projects where potential outweighs entry in reliable jurisdictions."

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21 Aug 2023 20:48

IN BRIEF: Galileo Resources reports pegmatites at Kamativi licence

Galileo Resources PLC - mining company focused on Zambia, Zimbabwe, Botswana, South Africa and the US - Updates on the Kamativi licence in Zimbabwe. Says, to date, six holes have been drilled at the licence for over 700 metres of diamond drilling. Notes the holes have intersected around 111 metres downhole width of pegmatites with an "appropriately low" potassium/rubidium ratio with the potential to host lithium mineralisation. Follow-up work is also planned in the north-east of the licence area to test in more detail the rare earth element content of pegmatites. Says drilling has intersected "significantly" more pegmatite than was originally anticipated, and adds this has brought some areas of the licence thought to be less prospective "back into the spotlight".

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