Email: [emailprotected] 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. Data delayed at least 20 minutes, as of May 01 2023 07:10 BST. In terms of relative price strength the Galileo Mining share price has We note that hedge funds don't have a meaningful investment in Galileo Mining. Galileo Mining Ltd is an Australia-based mining and exploration company. Galileo Mining (GAL) has received firm commitments to raise $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in WA. Profile data is unavailable for this security. GAL $ 0.790 -0.040 -4.82% Data last updated: Apr 28, 2023 3.56pm. In the last year, its cash burn was Creasys Nova-Bollinger discovery helped start what is known as the Great Nickel Rush on Fraser Range. Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. 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The Top 20 Shareholders of GAL hold 0% of shares on issue. As reported in the most recent Annual Report. A substantial shareholder is a person or entity that owns 5% or more of the voting shares in a company. Shares can be held through multiple entities, so the Substantial Shareholders list differs from the Top 20 Shareholders list. In the past month, the companys shares have rocketed 120% and are 106% higher in the past week alone. Select your default regional edition of MiningWeekly.com. This may not be consistent with full year annual report figures. This suggests that some funds have the company in their sights, but many have not yet bought shares in it. Concerned about the content? 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. It could be that they have de-merged. WebGalileo Mining listed on the ASX in May 2018, raising $15 million in IPO funding. Your password will be sent to this address. See historical performance and comparison, Metals and Mining Industry Average Movement. Contact Details: The companys shares are currently trading at 50 cents apiece, a 150% gain. Market Indices, Commodities and Regulatory News Headlines copyright Morningstar. The placement closed oversubscribed with cornerstone investments of $8.7 million by major shareholders Mark Creasy and IGO. Get in touch with us directly. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. Private companies may be related parties. 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 Fraser Range project consists of licences which are propspective for nickel, copper, and cobalt. 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. Automic Group Level 5, 191 St Georges Terrace Perth WA 6000 P: 1300 288 644 (within Australia) Under the placement, Galileo will issue 17 million shares for $1.20 each. Data is 20 mins delayed. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. IGO and mining billionaire Mark Creasy are expected to cornerstone WA cobalt and nickel explorer Galileo Minings share placement. Taking note of what the big end of town is doing can provide insights for ordinary ASX shares investors. For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has fallen 7% in a year. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. Galileo Mining has amarket capitalisationof about $81 million. Legend Mining continues evolution of the Mawson story with more massive sulphides intersected. The top 20 shareholders on listing held 57% of the stock. Australian Gold Resources Pty. 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. This may be a strategic interest and the two companies may have related business interests. 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. Share Registry. All Rights Reserved - Proactive Australia PTY LTD ACN:132787654 ABN:19132787654. Authorised by Scott Phillips. We also observed that the top 6 shareholders account for more than half of the share register, with a few smaller shareholders to balance the interests of the larger ones to a certain extent. Learn More. 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. Creasy Group has a 26.66% holding in Legend while IGO's stake stands at 14.12%. The company explores for cobalt, nickel, lithium, and copper, as well as nickel sulphides. In other words, the group stands to gain the most (or lose the most) from their investment into the company. Our most recent data indicates that insiders own some shares in Galileo Mining Ltd. Past performance is not necessarily indicative of future returns. James Mickleboro. The Galileo Mining Ltd(ASX: GAL) share price is soaring today on the back of a major discovery. 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. 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. 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. By: Esmarie Iannucci James Mickleboro. Australian Gold Resources Pty. 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. Jul 4, 2022 Anthony Macdonald, Have feedback on this article? Australian Gold Resources Pty. Substantial Shareholders A substantial shareholder is a person or entity that owns 5% or more of the voting shares in a company. Listen to Our Podcast 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. 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. Legend Mining prepares to test most exciting diamond drill Legend Mining talks Octagonal prospect potential at Rockford. 13 Colin Street West Perth WA 6000 . Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Sign Up for Take Stock SAVE THIS ARTICLE 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. 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. 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. See our latest analysis for Galileo Mining. With 17% and 6.5% of the shares outstanding respectively, IGO Limited and Yandal Investments Pty Ltd are the second and third largest shareholders. Ownership Breakdown Dilution of Shares: Shareholders have been diluted in the Data delayed 15 minutes unless otherwise indicated. Shareholder Info Top 20 Shareholders About the Data Shareholder Distribution As reported in the most recent Annual Report. Bronwyn Allen. 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 can be negative in some circumstances. 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. Our latest articles and strategies for the post-work life you want. Monica completed a cadetship in 2013. 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 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. For more information please see our Financial Services Guide. 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 It holds a 100% interest in the Norseman project that covers an area of 306 square kilometers located to the town of Norseman; and 67% interest Fraser Range Project covering an area of 602 square kilometers situated in the Albany-Fraser Orogen. Learn about investing with our Investing Education hub. The Company holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. than 75% of Australian stocks over the past 3 months. 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. Legend Mining welcomes maiden nickel, copper and cobalt resource Legend Mining hits Octagonal running with seismic data acquisition. The past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees. 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. Please remember that investments can go up and down. 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. Galileo has Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Some would say this shows alignment of interests between shareholders and the board, though we generally prefer to see bigger insider holdings. Note: Search is limited to the most recent 250 articles. 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,
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