But it might be worth checking if those insiders have been selling. The top 20 shareholders on listing held 57% of the stock. IGO has reported EBITDA of $533 million and net profit after tax of $412 million for the March quarter. WebName No. Galileo Mining (ASX: GAL) latest news, share price, company information, stock chart and announcements on Australia's #1 site for investors, Small Caps. Data as of May 01 2023. 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 Company is engaged in the development and exploration of cobalt, nickel laterite and nickel-copper May 1, 2023 | 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. Legend and its respected two high-profile partners Rockford partners hold considerable expertise on Fraser Range district mineralisation styles. All Rights Reserved - Proactive Australia PTY LTD ACN:132787654 ABN:19132787654. Data delayed 15 minutes unless otherwise indicated. Some would say this shows alignment of interests between shareholders and the board, though we generally prefer to see bigger insider holdings. 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 We can see that individual investors own the lion's share in the company with 44% ownership. Monica O'Shea. Galileo Mining discovered significant palladium, platinum, copper, gold, and nickel mineralisation at the Norseman project in Western Australia. Hear our experts take on shares, the market & how to invest. Jul 4, 2022 Anthony Macdonald, We look forward to updating the market as work progresses on this exciting new West Australian discovery. On the market this morning, Galileo were up 1.13 per cent and trading at $1.31 per share at 11:22 am AEST. We note that hedge funds don't have a meaningful investment in Galileo Mining. To that end, you should learn about the 4 warning signs we've spotted with Galileo Mining (including 2 which are concerning) . The definition of an insider can differ slightly between different countries, but members of the board of directors always count. The placement closed oversubscribed with cornerstone investments of $8.7 million by major shareholders Mark Creasy and IGO. WebGalileo Mining Limited. The Company holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. Copyright Proactive Group Holdings Inc, 2023. than 75% of Australian stocks over the past 3 months. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Postal Address: PO Box 415 West Perth WA 6872 P: +61 (0) 8 9324 2099 F: +61 (0) 8 9321 2337 E: [email protected] W: www.galileomining.com.au. Join Our Premium Community 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. 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. In addition, we found that Richard Underwood, the CEO has 4.4% of the shares allocated to their name. Galileo Mining Ltd is an Australia-based mining and exploration company. Taking note of what the big end of town is doing can provide insights for ordinary ASX shares investors. This may not be consistent with full year annual report figures. You can do it. 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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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. Galileo Mining (GAL) has received firm commitments to raise $20.4 million for the Callisto palladium-nickel discovery within the Norseman project in WA. 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. WebShares in Galileo Mining last closed at AU$0.70 and the price had moved by +191.67% over the past 365 days. Stable Share Price: GAL is more volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 12% a week. 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. Data delayed at least 20 minutes, as of May 01 2023 07:10 BST. May 1, 2023 | We aim to bring you long-term focused analysis driven by fundamental data. By: Esmarie Iannucci We take a look at how you could receive passive income from two iron ore miners. Monica completed a cadetship in 2013. Mr Creasy continues to be the largest shareholder, controlling approximately 27.5 percent of the These audience insights are used to make our website more relevant. However, high insider ownership can also give immense power to a small group within the company. Get in touch with us directly. The Galileo Mining share price soared 83% in the past year while it is up 116% year to date. 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. Past performance is not necessarily indicative of future returns. 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. The Motley Fool Australia does not guarantee the performance of, or returns on any investment. Subscriptions are available via the Creamer Media Store. 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. Managing Director Brad Underwood is delighted with the placement and is looking forward to explore the Callisto discovery. 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. 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. 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. Creasy Group has a 26.66% holding in Legend while IGO's stake stands at 14.12%. In other words, the group stands to gain the most (or lose the most) from their investment into the company. 337927). This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. separate emails by commas, maximum limit of 4 addresses, 6th July 2022 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. Galileo Mining has amarket capitalisationof about $81 million. 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. Legend Mining continues evolution of the Mawson story with more massive sulphides intersected. 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. The third reverse circulation drill program is scheduled to begin at the end of July with diamond drilling planned to commence in August. Overview WebGalileo Mining listed on the ASX in May 2018, raising $15 million in IPO funding. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. Learn More. Market Indices, Commodities and Regulatory News Headlines copyright Morningstar. Authorised by Scott Phillips. 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. 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. Your password will be sent to this address. Public companies currently own 17% of Galileo Mining stock. To make the world Smarter, Happier, And Richer. Galileo Mining Ltd engages in the exploration of mineral deposits in Western Australia. We note that hedge funds don't have a meaningful investment in Galileo Mining. We note that hedge funds don't have a meaningful investment in Galileo Mining. Please sign in or register. This may be a strategic interest and the two companies may have related business interests. The Norseman project consists of granted exploration licences and is prospective for cobalt and nickel. 13 Colin Street West Perth WA 6000 . Our data indicates that Private Companies hold 30%, of the company's shares. 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. 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. 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. When not writing for Motley Fool Australia, Monica enjoys travel, sport, music, and likes to play the violin in her spare time. To advertise email [email protected] 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. We use this information to make our site faster, more relevant and improve the navigation for all users. Shareholder Info Top 20 Shareholders About the Data Shareholder Distribution As reported in the most recent Annual Report. Join our flagship membership service, Share Advisor. 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. Receive daily sector news alerts. The Motley Fool Australia operates under AFSL 400691. 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. The Motley Fool has a disclosure policy. Ltd. is currently the company's largest shareholder with 21% of shares outstanding. This article contains general investment advice only (under AFSL 400691). 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 The general public, who are usually individual investors, hold a 44% stake in Galileo Mining. Legend Mining prepares to test most exciting diamond drill Legend Mining talks Octagonal prospect potential at Rockford. WebInsider Buying: GAL insiders have bought more shares than they have sold in the past 3 months. The past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees. Galileo expects to begin a third RC program at the end of this month and will be followed by diamond drilling in August. Have feedback on this article? Phone: (03) 8592 4841 Strictly necessary cookies relate to our hosting environment, and functional cookies are used to facilitate social logins, social sharing and rich-media content embeds. Galileo Mining Ltd is an Australia-based mining and exploration company. The Galileo Mining Ltd(ASX: GAL) share price is soaring today on the back of a major discovery. Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. 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. See our Cookie Policy for more information. That is, insiders Galileo has Investment news, stock ideas, and more, straight to your inbox. Let's find out. Earnings have declined by 3.9% per year over past 5 years, Volatile share price over the past 3 months, Shareholders have been diluted in the past year, Capture your thoughts, links and company narrative. ARTICLE ENQUIRY, To subscribe email [email protected] or click here Private companies may be related parties. When multiple institutional investors want to buy shares, we often see a rising share price. In their own names, insiders own AU$12m worth of stock in the AU$155m company. James Mickleboro. May 1, 2023 | Win at Retirement WebGalileo Mining Ltd is an Australia-based mining and exploration company. l. The Fraser Range project consists of licences which are propspective for nickel, copper, and cobalt. Galileo Mining is an ASX-listed company (ASX: GAL) focussed on the discovery of base metals in Western Australia. With 17% and 6.5% of the shares outstanding respectively, IGO Limited and Yandal Investments Pty Ltd are the second and third largest shareholders. These cookies are used to deliver our website and content. The billionaire prospector extraordinaire is credited with Why did the NAB share price smash the ASX 200 in April? Mark Creasy has upped his stake in Galileo Mining after its big Callisto palladium discovery last week. Shares in the base metals explorer are skyrocketing today. 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. WebGalileo Mining Limited. In the past month, the companys shares have rocketed 120% and are 106% higher in the past week alone. 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. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research. Monica has a keen interest in finance and the share market and enjoys exploring the highs and lows. 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. Select your default regional edition of MiningWeekly.com. According to a change of substantial holding notice, Mark Creasy has increased his stake by 3 million shares to 44,371,895 shares. For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has fallen 7% in a year. 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. April 28, 2023 | 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, The Motley Fool Australia has no position in any of the stocks mentioned. Under the placement, Galileo will issue 17 million shares for $1.20 Terms of use. FT is not responsible for any use of content by you outside its scope as stated in the. Galileo Mining Ltd engages in the exploration of mineral deposits in Western Australia. Sign Up for Take Stock Australian Gold Resources Pty. 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. Creasys Nova-Bollinger discovery helped start what is known as the Great Nickel Rush on Fraser Range. Legendary explorer Mark Creasy is Galileo Minings biggest shareholder with nearly 25 per cent of the 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. This can be negative in some circumstances. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Ownership Breakdown Dilution of Shares: Shareholders have been diluted in the If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, backed by strong financial data. 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 represents an interest of 26.35%. Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Profile data is unavailable for this security. In comparison, the S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.08% at the time of writing. This suggests that some funds have the company in their sights, but many have not yet bought shares in it. 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 It's always worth thinking about the different groups who own shares in a company. WebGalileo Mining Ltd (ASX:GAL) insider upped their holding earlier this year. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. Advertising Cookies collect information about your browsing habits such as the pages you visit and links you follow. Postal Address: PO Box 415 West Perth WA 6872 P: +61 (0) 8 9324 2099 F: +61 (0) 8 9321 2337 E: [email protected] W: Learn about investing with our Investing Education hub. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Institutional investors commonly compare their own returns to the returns of a commonly followed index. This website uses cookies so that we can provide you with the best user experience possible.