Get in touch with us directly. Analysts have been running the rule over this lithium giant's latest update. The company on Wednesday said that it has already received firm commitments for the placement. 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 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. 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. Meanwhile, private companies make up 30% of the companys shareholders. We take a look at how you could receive passive income from two iron ore miners. Simply Wall Street Pty Ltd (ACN 600 056 611), is a Corporate Authorised Representative (Authorised Representative Number: 467183) of Sanlam Private Wealth Pty Ltd (AFSL No. The companys shares are currently trading at 50 cents apiece, a 150% gain. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. 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. 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. 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. We note that hedge funds don't have a meaningful investment in Galileo Mining. These audience insights are used to make our website more relevant. Galileo Mining is an ASX-listed company (ASX: GAL) focussed on the discovery of base metals in Western Australia. Creasys Nova-Bollinger discovery helped start what is known as the Great Nickel Rush on Fraser Range. The Galileo Mining Ltd(ASX: GAL) share price is soaring today on the back of a major discovery. The placement will increase Galileos total cash balance to around $26.5 million. 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. Legendary explorer Mark Creasy is Galileo Minings biggest shareholder with nearly 25 per cent of the company. Ownership Breakdown Dilution of Shares: Shareholders have been diluted in the Select your default regional edition of MiningWeekly.com. The Company is engaged in the development and exploration of cobalt, nickel laterite and nickel-copper-cobalt sulphide projects in Western Australia. 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James Mickleboro. The billionaire prospector extraordinaire is credited with Insiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year. WebGalileo Mining Ltd is an Australia-based mining and exploration company. 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. 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, Galileo Mining Ltd engages in the exploration of mineral deposits in Western Australia. Galileo Mining (ASX:GAL) sees increasing grades at Callisto discovery, WA Galileo Mining (GAL) has recorded increasing palladium, nickel and copper grades at Carolyn Rebeiro 04 January 2023 10:58 (AEST) 783 views 2 minute read ASX News Materials Galileo Mining (ASX:GAL) strikes high-grade nickel sulphide at Callisto, WA Registered Office. Shares in the base metals explorer are skyrocketing today. Australian Gold Resources Pty. 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 WebInsiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year. Managing Director Brad Underwood is delighted with the placement and is looking forward to explore the Callisto discovery. This article contains general investment advice only (under AFSL 400691). This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. Galileo is exploring its 100% owned Norseman project in Western Australia. Creamer Media Senior Deputy Editor: Australasia, ARTICLE ENQUIRY 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. Note: Search is limited to the most recent 250 articles. Our most recent data indicates that insiders own some shares in Galileo Mining Ltd. See our latest analysis for Galileo Mining. We can see that individual investors own the lion's share in the company with 44% ownership. 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. 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. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Data delayed at least 20 minutes, as of May 01 2023 07:10 BST. It could be that they have de-merged. See historical performance and comparison, Metals and Mining Industry Average Movement. Galileo remains fully funded with $8.2 million at the end of the March quarter and able to continue aggressive exploration programs at all our projects. Have feedback on this article? Galileo noted it also has multiple targets at the companys Jimberlana and Mission Sill prospects, providing the opportunity for more discoveries. Please enter the email address that you used to subscribe on Mining Weekly. For more information please see our Financial Services Guide. Our data indicates that Private Companies hold 30%, of the company's shares. Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Phone: (03) 8592 4841 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. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. 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. This lithium giant could still have room to climb higher from current levels according to one broker. Please sign in or register. This suggests that some funds have the company in their sights, but many have not yet bought shares in it. Galileo has Galileo Mining discovered significant palladium, platinum, copper, gold, and nickel mineralisation at the Norseman project in Western Australia. The Motley Fool Australia does not guarantee the performance of, or returns on any investment. Under the placement, Galileo will issue 17 million shares for $1.20 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. 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. FT is not responsible for any use of content by you outside its scope as stated in the. 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. WebName No. But it might be worth checking if those insiders have been selling. With over five kilometres 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, he said. While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. Our friendly customer service team will happily get back to you as soon as they can. than 75% of Australian stocks over the past 3 months. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. IGO and mining billionaire Mark Creasy are expected to cornerstone WA cobalt and nickel explorer Galileo Minings share placement. The general public, who are usually individual investors, hold a 44% stake in Galileo Mining. 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. The Motley Fool Australia operates under AFSL 400691. Galileo Mining has amarket capitalisationof about $81 million. Public companies currently own 17% of Galileo Mining stock. Simply Wall St has no position in any stocks mentioned. WebShares in Galileo Mining last closed at AU$0.70 and the price had moved by +191.67% over the past 365 days. Galileo Mining Ltd is an Australia-based mining and exploration company. 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.. Galileo Mining's significant individual investors ownership suggests that the key decisions are influenced by shareholders from the larger public, A total of 6 investors have a majority stake in the company with 50% ownership, Using data from company's past performance alongside ownership research, one can better assess the future performance of a company. Galileo Mining Ltd announced that it has received AUD 20.4 million in funding from IGO Limited Jul 07 Galileo Mining Ltd Announces Geological Results from the Join our flagship membership service, Share Advisor. The Motley Fool has a disclosure policy. 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. Your password will be sent to this address. The Motley Fool Australia has no position in any of the stocks mentioned. We note that hedge funds don't have a meaningful investment in Galileo Mining. 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. Less than 5% of Galileo Mining is held by institutional investors. 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. Performance Cookies collect anonymous information designed to help us improve the site and respond to the needs of our audiences. 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. EMAILTHISARTICLE. 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 April 29, 2023 | This can be negative in some circumstances. The morning catch up: Markets finish April on a high ahead of rate Legend Mining eclipses nominal 2021 budget by completing 11,000 Legend Mining welcomes major shareholder support in Legend Mining lauds decade in the making drill program at Octagonal. Copyright Proactive Group Holdings Inc, 2023. Return vs Market: GAL exceeded the Australian Market which returned -5.5% over the past year. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Join Our Premium Community Monica completed a cadetship in 2013. l. The Fraser Range project consists of licences which are propspective for nickel, copper, and cobalt. WebGalileo Mining Ltd (ASX:GAL) insider upped their holding earlier this year. We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library. May 1, 2023 | 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. Hear our experts take on shares, the market & how to invest. 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. Data is 20 mins delayed. Jul 4, 2022 Anthony Macdonald, The Company's flagship projects are the Norseman and Fraser Range projects. 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. See our Cookie Policy for more information. Any information that you receive via FT.com is at best delayed intraday data and not "real time". Galileo Mining Ltd Follow Mineral exploration. 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. WebInsider Buying: GAL insiders have bought more shares than they have sold in the past 3 months. All content on FT.com is for your general information and use only and is not intended to address your particular requirements. Bronwyn Allen. 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. Contact Details: Share price information may be rounded up/down and therefore not entirely accurate. 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 placement closed oversubscribed with cornerstone investments of $8.7 million by major shareholders Mark Creasy and IGO. has decreased from 36% to 12% over the past year, but is still higher than 75% of Australian stocks. 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. Do the positives outweigh the negatives with BHP's shares? 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. This holding is probably worth investigating further. Overview 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 Share Registry. According to a change of substantial holding notice, Mark Creasy has increased his stake by 3 million shares to 44,371,895 shares. TO MAKE THE WORLD Goldman Sachs says these are the lithium shares to buy due to a 'game changing' technology. Institutional investors commonly compare their own returns to the returns of a commonly followed index. When multiple institutional investors want to buy shares, we often see a rising share price. Galileo Mining (ASX: GAL) latest news, share price, company information, stock chart and announcements on Australia's #1 site for investors, Small Caps.