WebGalileo Mining Ltd (ASX:GAL) insider upped their holding earlier this year. The Company is engaged in the development and exploration of cobalt, nickel laterite and nickel-copper In the chart below, we zoom in on the different ownership groups of Galileo Mining. We note that hedge funds don't have a meaningful investment in Galileo Mining. Data delayed 15 minutes unless otherwise indicated. For more information please see our Financial Services Guide. We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library. Authorised by Scott Phillips. The Company is engaged in the development and exploration of cobalt, nickel laterite and nickel-copper-cobalt sulphide projects in Western Australia. 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. 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. 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. Data as of May 01 2023. Institutional investors commonly compare their own returns to the returns of a commonly followed index. The general public, who are usually individual investors, hold a 44% stake in Galileo Mining. Join A Paid User Research SessionYoull receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. According to a change of substantial holding notice, Mark Creasy has increased his stake by 3 million shares to 44,371,895 shares. Creamer Media Senior Deputy Editor: Australasia, ARTICLE ENQUIRY The Galileo Mining Ltd(ASX: GAL) share price is soaring today on the back of a major discovery. Australian Gold Resources Pty. April 28, 2023 | Any information that you receive via FT.com is at best delayed intraday data and not "real time". To make the world Smarter, Happier, And Richer. But it might be worth checking if those insiders have been selling. Galileo Mining Ltd Follow Mineral exploration. 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 Galileo Mining Ltd ( ASX: GAL) share price is soaring today on the back of a major discovery. Company Buyback. 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. 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. To advertise email advertising@creamermedia.co.za or click here, Mining Weekly is a product of Creamer Media.www.creamermedia.co.za, Other Creamer Media Products include:Engineering NewsResearch Channel AfricaPolity, Sign up for our FREE daily email newsletter Performance Cookies collect anonymous information designed to help us improve the site and respond to the needs of our audiences. 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. The Motley Fool Australia does not guarantee the performance of, or returns on any investment. 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. Monica completed a cadetship in 2013. Please sign in or register. Contact Details: EMAILTHISARTICLE. Advertising Cookies collect information about your browsing habits such as the pages you visit and links you follow. IGO and mining billionaire Mark Creasy are expected to cornerstone WA cobalt and nickel explorer Galileo Minings share placement. The Motley Fool has a disclosure policy. Receive daily sector news alerts. 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. Volatility Over Time: GAL's weekly volatility has decreased from 36% to 12% over the past year, but is still higher than 75% of Australian stocks. In other words, the group stands to gain the most (or lose the most) from their investment into the company. Share Registry. Ltd. is currently the company's largest Our data indicates that Private Companies hold 30%, of the company's shares. Strictly necessary cookies relate to our hosting environment, and functional cookies are used to facilitate social logins, social sharing and rich-media content embeds. IGO has reported EBITDA of $533 million and net profit after tax of $412 million for the March quarter. To that end, you should learn about the 4 warning signs we've spotted with Galileo Mining (including 2 which are concerning) . The placement will increase our total cash to approximately A$26.5-million and allow us to aggressively explore this significant new palladium province within our Norseman project area. 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 Motley Fool Australia operates under AFSL 400691. Automic Group Level 5, 191 St Georges Terrace Perth WA 6000 P: 1300 288 644 (within Australia) 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. 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. 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. Galileo Mining Ltd is an Australia-based mining and exploration company. Galileo Mining is an ASX-listed company (ASX: GAL) focussed on the discovery of base metals in Western Australia. 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. As far as we can tell there isn't analyst coverage of the company, so it is probably flying under the radar. For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has fallen 7% in a year. This represents an interest of 26.35%. By: Esmarie Iannucci However, high insider ownership can also give immense power to a small group within the company. It could be that they have de-merged. The companys shares are currently trading at 50 cents apiece, a 150% gain. The high level of interest has allowed us to complete the A$20.4-million placement with A$8.7-million of the funds coming from our major shareholders, Mark Creasy and IGO. The Galileo Mining share price soared 83% in the past year while it is up 116% year to date. Legend and its respected two high-profile partners Rockford partners hold considerable expertise on Fraser Range district mineralisation styles. We are currently completing our second reverse circulation (RC) drill campaign at Callisto with a geological update to be provided to the market on the completion of the program.. The past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees. When multiple institutional investors want to buy shares, we often see a rising share price. Galileo Mining Ltd is an Australia-based mining and exploration company. Your password will be sent to this address. WebGalileo Mining Limited. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research. Please enter the email address that you used to subscribe on Mining Weekly. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. 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. See our Cookie Policy for more information. 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. Ownership Breakdown Dilution of Shares: Shareholders have been diluted in the Analysts have been running the rule over this lithium giant's latest update. This may be a strategic interest and the two companies may have related business interests. In the last year, its cash burn was Click on the button below to clear your default MiningWeekly.com regional edition. 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. This may not be consistent with full year annual report figures. 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. Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. 13 Colin Street West Perth WA 6000 . The placement closed oversubscribed with cornerstone investments of $8.7 million by major shareholders Mark Creasy and IGO. GALILEO MINING LTD : Forcasts, revenue, earnings, analysts expectations, ratios for GALILEO MINING LTD Stock | GAL | AU0000007510 Mark Creasy has upped his stake in Galileo Mining after its big Callisto palladium discovery last week. The company explores for cobalt, nickel, lithium, and copper, as well as nickel sulphides. 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. So they generally do consider buying larger companies that are included in the relevant benchmark index. Galileo Mining discovered significant palladium, platinum, copper, gold, and nickel mineralisation at the Norseman project in Western Australia. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. 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. Learn More. separate emails by commas, maximum limit of 4 addresses, 6th July 2022 We look forward to updating the market as work progresses on this exciting new West Australian discovery. Legendary explorer Mark Creasy is Galileo Minings biggest shareholder with nearly 25 per cent of the company. Galileo Mining Ltd engages in the exploration of mineral deposits in Western Australia. The Company is engaged in the development and exploration of cobalt, nickel laterite and Overview May 1, 2023 | Our latest articles and strategies for the post-work life you want. l. The Fraser Range project consists of licences which are propspective for nickel, copper, and cobalt. Australian Gold Resources Pty. has decreased from 36% to 12% over the past year, but is still higher than 75% of Australian stocks. We note that hedge funds don't have a meaningful investment in Galileo Mining. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies. This suggests that some funds have the company in their sights, but many have not yet bought shares in it. The Motley Fool Australia has no position in any of the stocks mentioned. So if the company itself can improve over time, we may well see more institutional buyers in the future. Mr Creasy continues to be the largest shareholder, controlling approximately 27.5 percent of the 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. The third reverse circulation drill program is scheduled to begin at the end of July with diamond drilling planned to commence in August. Note: Search is limited to the most recent 250 articles. We respectfully acknowledge the Traditional Custodians of the land where we live and work and pay our respects to all Elders, past and present, of all Aboriginal and Torres Strait Islander nations. The Company holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. Terms of use. In terms of relative price strength the Galileo Mining share price has Lets take a look at what Galileo Mining announced today. 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. than 75% of Australian stocks over the past 3 months. Ltd. is currently the company's largest shareholder with 21% of shares outstanding. Private companies may be related parties. WebShares in Galileo Mining last closed at AU$0.70 and the price had moved by +191.67% over the past 365 days. Some would say this shows alignment of interests between shareholders and the board, though we generally prefer to see bigger insider holdings. 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. The top 20 shareholders on listing held 57% of the stock. Under the placement, Galileo will issue 17 million shares for $1.20 each. 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 | You must be a registered user to save alerts. WebInsiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year. Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. 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. Investment news, stock ideas, and more, straight to your inbox. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. Bronwyn Allen. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. Email: [emailprotected] It's always worth thinking about the different groups who own shares in a company. 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. Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. Simply Wall St has no position in any stocks mentioned. WebInsider Buying: GAL insiders have bought more shares than they have sold in the past 3 months. Join Our Premium Community 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 setting is controlled by cookies and should your cookies be re-set you will then be directed to the regional edition associated with the geographic location of our IP address. May 1, 2023 | 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. The billionaire prospector extraordinaire is credited with TO MAKE THE WORLD On the market this morning, Galileo were up 1.13 per cent and trading at $1.31 per share at 11:22 am AEST. WebThe current holdings of RMI directors. 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. All Rights Reserved - Proactive Australia PTY LTD ACN:132787654 ABN:19132787654. 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. Data is 20 mins delayed. This website uses cookies so that we can provide you with the best user experience possible. See historical performance and comparison, Metals and Mining Industry Average Movement. Brooke Cooper, April 30, 2023 | Do the positives outweigh the negatives with BHP's shares? But to understand Galileo Mining better, we need to consider many other factors. Legend Mining welcomes maiden nickel, copper and cobalt resource Legend Mining hits Octagonal running with seismic data acquisition. The placement will increase Galileos total cash balance to around $26.5 million. Taking note of what the big end of town is doing can provide insights for ordinary ASX shares investors. The Fraser Range project consists of licences which are propspective for nickel, copper, and cobalt. Legend Mining continues evolution of the Mawson story with more massive sulphides intersected. All content on FT.com is for your general information and use only and is not intended to address your particular requirements. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. James Mickleboro. 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. 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. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. Galileo Mining (GAL) has received firm commitments to raise $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in WA. Return vs Industry: GAL exceeded the Australian Metals and Mining industry which returned -7.6% over the past year. This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. Galileo Mining has such a small amount of debt that we'll set it aside, and focus on the AU$6.9m in cash it held at December 2020. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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 Subscriptions are available via the Creamer Media Store. 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. Less than 5% of Galileo Mining is held by institutional investors. Australian Gold Resources Pty. 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. 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 Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. The Company holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. Stable Share Price: GAL is more volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 12% a week. Galileo noted it also has multiple targets at the companys Jimberlana and Mission Sill prospects, providing the opportunity for more discoveries. The Company is engaged in the development and exploration of cobalt, nickel laterite and 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. With 17% and 6.5% of the shares outstanding respectively, IGO Limited and Yandal Investments Pty Ltd are the second and third largest shareholders. WebBrad Underwood, Managing Director of Galileo Mining (ASX: GAL) will provide shareholders with an overview of the recent announced assay results from recent d Brad Underwood, These cookies are used to deliver our website and content. 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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. 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. We aim to bring you long-term focused analysis driven by fundamental data. WebName No. 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. Have feedback on this article? Return vs Market: GAL exceeded the Australian Market which returned -5.5% over the past year. Galileo Mining (ASX: GAL) latest news, share price, company information, stock chart and announcements on Australia's #1 site for investors, Small Caps. The placement closed oversubscribed with cornerstone investments of $8.7 million by major shareholders Mark Creasy and IGO. Ltd. is currently the company's largest shareholder with 21% of shares outstanding. GAL $ 0.790 -0.040 -4.82% Data last updated: Apr 28, 2023 3.56pm. 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. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Monica is a journalist with experience working for Daily Mail Australia in Sydney and the Port Pirie Recorder and the Flinders News in South Australia. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. When not writing for Motley Fool Australia, Monica enjoys travel, sport, music, and likes to play the violin in her spare time. ARTICLE ENQUIRY, To subscribe email subscriptions@creamermedia.co.za or click here Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. In addition, we found that Richard Underwood, the CEO has 4.4% of the shares allocated to their name.

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