Galileo Resources PLC - London-based mining company focused in the US and Africa - Confirms that all conditions for Afrimat Ltd to acquire the Vermiculite mining right from Glenover Pty Ltd have been met, and that Glenover has elected that the mining right consideration be paid in cash, of which GBP523,000 is due to the company.
"I am pleased that the company has received confirmation that all conditions to acquire the Vermiculate Mining Right have been met and GBP523,000 is now due to the company. This is a further favourable step in the progressive sale of the Glenover Asset. The funds will be employed in releasing value from our lithium project in Zimbabwe and copper-gold projects in Southern Africa," says Chair and CEO Colin Bird.
Current stock price: 1.02 pence, up 4.6%
12-month change: down 23%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Galileo Resourc (GLR)