Private companies may be related parties. 13 Colin Street West Perth WA 6000 . Any information that you receive via FT.com is at best delayed intraday data and not "real time". 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. The Norseman project consists of granted exploration licences and is prospective for cobalt and nickel. Phone: (03) 8592 4841 When multiple institutional investors want to buy shares, we often see a rising share price. According to a change of substantial holding notice, Mark Creasy has increased his stake by 3 million shares to 44,371,895 shares. Advertising Cookies collect information about your browsing habits such as the pages you visit and links you follow. Ownership Breakdown Dilution of Shares: Shareholders have been diluted in the IGO and mining billionaire Mark Creasy are expected to cornerstone WA cobalt and nickel explorer Galileo Minings share placement. 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. Macquarie says buy Santos shares now for 40% upside, The Galileo Mining share price is surging 150% today, The company has discovered major palladium, platinum, gold, copper, and nickel mineralisation, Galileo is exploring its 100% owned Norseman project in Western Australia, 6 metres at 2.21 g/t palladium, 0.37 g/t platinum, 0.11 g/t gold, 0.41% copper and 0.36% nickel from 159 metres, 1 metre at 2.66 g/t palladium, 0.41 g/t platinum, 0.14 g/t gold, 0.48% copper and 0.46% nickel from 176 metres. 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. 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 We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. 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. With 17% and 6.5% of the shares outstanding respectively, IGO Limited and Yandal Investments Pty Ltd are the second and third largest shareholders. Get in touch with us directly. Webshareholders including Mark Creasy (approximately 31%), Independence Group (4.9%) and Chris Ellison (4.2%). Simply Wall St has no position in any stocks mentioned. We use this information to make our site faster, more relevant and improve the navigation for all users. Legend Mining continues evolution of the Mawson story with more massive sulphides intersected. Receive daily sector news alerts. We note that hedge funds don't have a meaningful investment in Galileo Mining. Monica O'Shea. than 75% of Australian stocks over the past 3 months. 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. 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. 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. 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. Monica completed a cadetship in 2013. Our latest articles and strategies for the post-work life you want. separate emails by commas, maximum limit of 4 addresses, 6th July 2022 The Company is engaged in the development and exploration of cobalt, nickel laterite and 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. Mr Creasy continues to be the largest shareholder, controlling approximately 27.5 percent of the 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. Investment news, stock ideas, and more, straight to your inbox. Galileo is exploring its 100% owned Norseman project in Western Australia. Some would say this shows alignment of interests between shareholders and the board, though we generally prefer to see bigger insider holdings. 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 Insider ownership is positive when it signals leadership are thinking like the true owners of the company. See our latest analysis for Galileo Mining. This holding is probably worth investigating further. We aim to bring you long-term focused analysis driven by fundamental data. Australian Gold Resources Pty. In the past month, the companys shares have rocketed 120% and are 106% higher in the past week alone. 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. SMARTER, HAPPIER, AND RICHER. May 1, 2023 | For more information please see our Financial Services Guide. The Motley Fool Australia does not guarantee the performance of, or returns on any investment. Authorised by Scott Phillips. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. 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. The Company is engaged in the development and exploration of cobalt, nickel laterite and nickel-copper Please sign in or register. 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. We note that hedge funds don't have a meaningful investment in Galileo Mining. Galileo Mining Ltd engages in the exploration of mineral deposits in Western Australia. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Join our flagship membership service, Share Advisor. Australian Gold Resources Pty. That is, insiders WebInsider Buying: GAL insiders have bought more shares than they have sold in the past 3 months. SAVE THIS ARTICLE The Company holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. Galileo Mining Ltd is an Australia-based mining and exploration company. 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. Legend Mining prepares to test most exciting diamond drill Legend Mining talks Octagonal prospect potential at Rockford. Data delayed at least 20 minutes, as of May 01 2023 07:10 BST. 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. The Company's flagship projects are the Norseman and Fraser Range projects. Legend Mining welcomes maiden nickel, copper and cobalt resource Legend Mining hits Octagonal running with seismic data acquisition. In comparison, the S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.08% at the time of writing. 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. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research. The placement will increase Galileos total cash balance to around $26.5 million. Return vs Market: GAL exceeded the Australian Market which returned -5.5% over the past year. 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. 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. 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. Win at Retirement This suggests that some funds have the company in their sights, but many have not yet bought shares in it. 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. Galileo Mining (GAL) has received firm commitments to raise $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in WA. 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. Shareholder Info Top 20 Shareholders About the Data Shareholder Distribution As reported in the most recent Annual Report. James Mickleboro. The general public, who are usually individual investors, hold a 44% stake in Galileo Mining. WebGalileo Mining Limited. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. Galileo Mining (ASX: GAL) latest news, share price, company information, stock chart and announcements on Australia's #1 site for investors, Small Caps. Creamer Media Senior Deputy Editor: Australasia, ARTICLE ENQUIRY 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. Our data indicates that Private Companies hold 30%, of the company's shares. We look forward to updating the market as work progresses on this exciting new West Australian discovery. FT is not responsible for any use of content by you outside its scope as stated in the. Do the positives outweigh the negatives with BHP's shares? Brooke Cooper, April 30, 2023 | 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. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping us understand which sections of the website you find most interesting and useful. WebThe current holdings of RMI directors. 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. 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. Concerned about the content? ARTICLE ENQUIRY, To subscribe email subscriptions@creamermedia.co.za or click here 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. Creasy is well known for his gold finds and lucrative company exits, making the Guinness World Records in 1994 for pocketing $130 million in a gold deposits exit, the largest ever payout received by a prospector. Galileo Mining is an ASX-listed company (ASX: GAL) focussed on the discovery of base metals in Western Australia. Please enter the email address that you used to subscribe on Mining Weekly. Two nickel-copper sulphide target areas are on the radar for this initial campaign, representing the most compelling Only registered members can use this feature. 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: James Mickleboro. This lithium giant could still have room to climb higher from current levels according to one broker. Galileo Mining Ltd is an Australia-based mining and exploration company. April 28, 2023 | These audience insights are used to make our website more relevant. The Company is engaged in the development and exploration of cobalt, nickel laterite and Return vs Industry: GAL exceeded the Australian Metals and Mining industry which returned -7.6% over the past year. Public companies currently own 17% of Galileo Mining stock. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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 WebGalileo Mining listed on the ASX in May 2018, raising $15 million in IPO funding. Why did the NAB share price smash the ASX 200 in April? 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. Contact Details: This may not be consistent with full year annual report figures. Copyright Proactive Group Holdings Inc, 2023. Please remember that investments can go up and down. Analysts have been running the rule over this lithium giant's latest update. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Overview Galileo Mining discovered significant palladium, platinum, copper, gold, and nickel mineralisation at the Norseman project in Western Australia. In their own names, insiders own AU$12m worth of stock in the AU$155m company. Galileo Mining has amarket capitalisationof about $81 million. Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 104, Isle of Capri, Qld 4217. Substantial Shareholders A substantial shareholder is a person or entity that owns 5% or more of the voting shares in a company. 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 Creasys Nova-Bollinger discovery helped start what is known as the Great Nickel Rush on Fraser Range. Bronwyn Allen. 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. 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 The companys shares are currently trading at 50 cents apiece, a 150% gain. Learn More. This represents an interest of 26.35%. 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. The Galileo Mining Ltd(ASX: GAL) share price is soaring today on the back of a major discovery. Galileo has Jul 4, 2022 Anthony Macdonald, Currency figures normalised to Galileo Mining Ltd's reporting currency: Australian Dollar AUD, Create detailed alerts and get notified the moment an event happens, See how trades would have performed from years past or start from the present, Download PDF copies of reports from the newspaper markets data page, View the performance of global markets and browse news items by region, Find companies based on country, sector, and other equity characteristics, View funds that move the market, screen for funds and read relevant news, All markets data located on FT.com is subject to the. The placement closed oversubscribed with cornerstone investments of $8.7 million by major shareholders Mark Creasy and IGO. Under the placement, Galileo will issue 17 million shares for $1.20 Sign Up for Take Stock The billionaire prospector extraordinaire is credited with 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. 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. Share Registry. 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. 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It could be that they have de-merged. Let's find out. Managing Director Brad Underwood is delighted with the placement and is looking forward to explore the Callisto discovery. Our most recent data indicates that insiders own some shares in Galileo Mining Ltd. For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has fallen 7% in a year. The Fraser Range project consists of licences which are propspective for nickel, copper, and cobalt. Galileo Mining (GAL) has received firm commitments to raise $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in WA. Terms of use. Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. Email: [emailprotected] 337927). To make the world Smarter, Happier, And Richer. Creasy Group's principal Mark Creasy is a world-renowned prospector who was behind was behind Sirius Resources when it struck the jackpot at the Nova-Bollinger nickel-copper deposit on Fraser Range. Company Buyback. The Company is engaged in the development and exploration of cobalt, nickel laterite and nickel-copper-cobalt sulphide projects in Western Australia. May 1, 2023 | Legend and its respected two high-profile partners Rockford partners hold considerable expertise on Fraser Range district mineralisation styles. Past performance is not necessarily indicative of future returns. Goldman Sachs says these are the lithium shares to buy due to a 'game changing' technology. The Motley Fool has a disclosure policy. April 29, 2023 | Email advertising@creamermedia.co.za, Barloworld Equipment~Booyco Electronics~Immersive Technologies~Integrated Pump Rental~Integrated Pump Technology~Multotec~Sandvik~SSG Consulting ~Trafo Power Solutions~Weir Minerals Africa, barloworld-equipment-2021-07-20~booyco-electronics-2021-06-07~immersive-technologies-2019-04-01~integrated-pump-rental-2019-12-09~integrated-pump-technology-2019-12-12~multotec-2021-02-03~sandvik-2022-08-29~ssg-consulting-project-management-2014-05-19~trafo-power-solutions-2022-12-13~weir-minerals-africa-2020-11-23, Creamer Media Senior Deputy Editor: Australasia, Sign up for our FREE daily email newsletter. The Company holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. 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. Data as of May 01 2023. Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. The Galileo Mining share price soared 83% in the past year while it is up 116% year to date. In other words, the group stands to gain the most (or lose the most) from their investment into the company. On the market this morning, Galileo were up 1.13 per cent and trading at $1.31 per share at 11:22 am AEST. Legend Mining Ltd (ASX:LEG) managing director Mark Wilson brings Proactive up to speed on a mission to test the Octagonal prospects most exciting diamond drill targets. Data delayed 15 minutes unless otherwise indicated. Ltd. is currently the company's largest shareholder with 21% of shares outstanding. Strictly necessary cookies relate to our hosting environment, and functional cookies are used to facilitate social logins, social sharing and rich-media content embeds. TO MAKE THE WORLD Please read our Financial Services Guide before deciding whether to obtain financial services from us. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. 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. In the chart below, we zoom in on the different ownership groups of Galileo Mining. 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. The third reverse circulation drill program is scheduled to begin at the end of July with diamond drilling planned to commence in August. 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. EMAILTHISARTICLE. Galileo Mining Ltd engages in the exploration of mineral deposits 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. 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. IGO has reported EBITDA of $533 million and net profit after tax of $412 million for the March quarter. Click on the button below to clear your default MiningWeekly.com regional edition. 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. But to understand Galileo Mining better, we need to consider many other factors. Ltd. is currently the company's largest shareholder with 21% of shares outstanding. The company on Wednesday said that it has already received firm commitments for the placement. WebGalileo Mining Limited. Have feedback on this article? Learn about investing with our Investing Education hub. When not writing for Motley Fool Australia, Monica enjoys travel, sport, music, and likes to play the violin in her spare time. Hear our experts take on shares, the market & how to invest. 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. To that end, you should learn about the 4 warning signs we've spotted with Galileo Mining (including 2 which are concerning) .