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Share Price: 1.20

Bid: 1.15

Ask: 1.25

Change: 0.00 (0.00%)

Spread: 0.10 (8.696%)

Open: 0.00

High: 0.00

Low: 0.00

Prev. Close: 1.20

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IN BRIEF: Galileo Resources shares rise on proceeds from Glenover sale

Fri, 11th Feb 2022 17:52

Galileo Resources PLC - miner with projects in Botswana, Zambia and South Africa - Receives ZAR50.7 million, around GBP2.4 million, from the Glenover asset sale, through the disposal of its indirect holdings via Galagen Pty Ltd to Johannesburg-listed Afrimat Ltd.

In addition, has gained GBP86,000 royalties from the first three shipments from the Star Zinc project sale agreement, and expects a further GBP335,000 from shipments that are subject to final weights and assays.

"This marks the start of earnings from the Star Zinc operation, which are progressing and will continue exporting more material. Our Kashitu operation will shortly be drilled with a view to a similar operation as Star Zinc but under Galileo's control for Galileo benefit other than 3rd party costs related to the Kashitu operation," said Chair and Chief Executive Colin Bird.

Current stock price: 1.18 pence, up 13% on Friday

12-month change: down 37%

By Dayo Laniyan; dayolaniyan@alliancenews.com

More News

8 Dec 2022 17:45

TRADING UPDATES: Anglo Asian touts intercepts; Netcall backs guidance

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

8 Dec 2022 15:55

Galileo shares up on latest work at Kamativi

(Sharecast News) - Galileo Resources updated the market on the reconnaissance mapping and sampling programme completed over the Kamativi Lithium Project in southwest Zimbabwe on Thursday.

2 Dec 2022 22:03

TRADING UPDATES: Keystone Positive assets fall; Galileo finds gold

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

23 Nov 2022 16:18

Galileo completes drilling programme at Luansobe

(Sharecast News) - Galileo Resources announced completion of the Luansobe Copper Project drilling programme on Wednesday, describing it as an "important step" towards a new mineral resource estimate.

23 Nov 2022 14:24

IN BRIEF: Galileo Resources shares up on drilling results at Luansobe

Galileo Resources PLC - mining company focused on US and Africa - Says delineation drilling at Luansobe copper project, located in Zambia, has been completed. Says it has successfully identified wide zones of moderate grade, near-surface copper mineralisation, potentially offsetting open pit pre-stripping costs. Galileo finds up to 3.51% copper at Luansobe, at hole LUDD014.

1 Nov 2022 20:39

TRADING UPDATES: Fulham Shore revenue up; Vertu Motors makes buy

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

21 Oct 2022 18:00

TRADING UPDATES: Botswana Diamonds and Petra Diamonds strike data deal

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

3 Oct 2022 21:46

TRADING UPDATES: Public Policy buys KP; Plus500 enters partnership

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

21 Sep 2022 14:38

EARNINGS SUMMARY: Dianomi makes profit; Galileo investments lucrative

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

26 Aug 2022 11:14

AIM WINNERS & LOSERS: Westminster wins contract; i3 cuts guidance

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

26 Aug 2022 10:43

IN BRIEF: Galileo Resources finds nickel targets at Bulawayo, Zimbabwe

Galileo Resources PLC - mining company focused on US and Africa - Finds potential nickel targets at Bulawayo gold project in Zimbabwe.

16 Aug 2022 17:55

IN BRIEF: Galileo Resources survey results finds gold targets

Galileo Resources PLC - London-based mining company focused in the US and Africa - Receives final interpretation report on airborne geophysical survey on its targets at its Bulawayo gold project in Zimbabwe.

10 Aug 2022 17:00

Galileo agrees to buy another 28pc of BC Ventures

(Sharecast News) - Galileo Resources updated the market on the agreement between BC Ventures and Cordoba Investments to acquire a 51% interest in BC Ventures on Wednesday afternoon, which was assigned to the company on 4 March.

10 Aug 2022 14:38

IN BRIEF: Galileo Resources increases interest in Zimbabwe projects

Galileo Resources PLC - London-based mining company focused in the US and Africa - Agrees to acquire a further 29% stake in BC Ventures Ltd, which owns "highly prospective" Kamativi lithium project in southwest Zimbabwe, as well as two gold licenses at the Bulawayo gold project. Galileo will issue 50.0 million shares at 1.2 pence each, for GBP600,000, to fund the purchase, which is expected to complete this month. The shares are at a 4.4% premium to Monday's closing price of 1.15p, and subject to a 12-month lock-up agreement. This brings Galileo's total stake in BC Ventures to 80%.

4 Aug 2022 17:01

IN BRIEF: Galileo Resources to start drilling at Luansobe project

Galileo Resources PLC - London-based mining company focused in the US and Africa - Signs contract for 3,000 metres of core drilling on potentially open pittable copper deposit at Luansobe project in Zambia.

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IN BRIEF: Galileo Resources shares rise on proceeds from Glenover sale

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