See historical performance and comparison, Metals and Mining Industry Average Movement. 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. WebInsiders were net buyers of Galileo Mining Ltd's ( ASX:GAL ) stock during the past year. James Mickleboro. WebInsider Buying: GAL insiders have bought more shares than they have sold in the past 3 months. The placement closed oversubscribed with cornerstone investments of $8.7 million by major shareholders Mark Creasy and IGO. The Motley Fool Australia operates under AFSL 400691. Public companies currently own 17% of Galileo Mining stock. James Mickleboro. 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. 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. The placement closed oversubscribed with cornerstone investments of $8.7 million by major shareholders Mark Creasy and IGO. Advertising Cookies collect information about your browsing habits such as the pages you visit and links you follow. 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. 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. 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. 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. Our friendly customer service team will happily get back to you as soon as they can. Company Buyback. Learn More. Data as of May 01 2023. 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. separate emails by commas, maximum limit of 4 addresses, 6th July 2022 James Mickleboro. But it might be worth checking if those insiders have been selling. Galileo Mining has amarket capitalisationof about $81 million. 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. Shares in the base metals explorer are skyrocketing today. All Rights Reserved - Proactive Australia PTY LTD ACN:132787654 ABN:19132787654. 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 . You can do it. Authorised by Scott Phillips. Analysts have been running the rule over this lithium giant's latest update. has decreased from 36% to 12% over the past year, but is still higher than 75% of Australian stocks. WebGalileo Mining Limited. Institutional investors commonly compare their own returns to the returns of a commonly followed index. The Motley Fool launched its Australian presence in 2011, and since then has grown to reach over 1 million Australians. Listen to Our Podcast Simply Wall St has no position in any stocks mentioned. Return vs Market: GAL exceeded the Australian Market which returned -5.5% over the past year. This suggests that some funds have the company in their sights, but many have not yet bought shares in it. 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. Hear our experts take on shares, the market & how to invest. The Company holds interest in the FSZ Resources Pty Ltd, NSZ Resources Pty Ltd, and the mining tenements that comprise the Norseman project. Data delayed 15 minutes unless otherwise indicated. All content on FT.com is for your general information and use only and is not intended to address your particular requirements. 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. Use our equities screener to discover other potential opportunities. 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. To make the world Smarter, Happier, And Richer. Learn about investing with our Investing Education hub. Please read our Financial Services Guide before deciding whether to obtain financial services from us. The third reverse circulation drill program is scheduled to begin at the end of July with diamond drilling planned to commence in August. Creamer Media Senior Deputy Editor: Australasia, ARTICLE ENQUIRY Galileo Mining Ltd is an Australia-based mining and exploration company. TO MAKE THE WORLD Mr Creasy continues to be the largest shareholder, controlling approximately 27.5 percent of the As far as we can tell there isn't analyst coverage of the company, so it is probably flying under the radar. 2010 - 2023 The Motley Fool Australia Pty Ltd. All rights reserved. WebName No. Substantial Shareholders A substantial shareholder is a person or entity that owns 5% or more of the voting shares in a company. WebShares in Galileo Mining last closed at AU$0.70 and the price had moved by +191.67% over the past 365 days. We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library. However, high insider ownership can also give immense power to a small group within the company. Sign Up for Take Stock Our latest articles and strategies for the post-work life you want. The Galileo Mining Ltd ( ASX: GAL) share price is soaring today on the back of a major discovery. Galileo noted it also has multiple targets at the companys Jimberlana and Mission Sill prospects, providing the opportunity for more discoveries. than 75% of Australian stocks over the past 3 months. Share price information may be rounded up/down and therefore not entirely accurate. WebGalileo Mining Ltd (ASX:GAL) insider upped their holding earlier this year. In the past month, the companys shares have rocketed 120% and are 106% higher in the past week alone. 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 past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees. In addition, we found that Richard Underwood, the CEO has 4.4% of the shares allocated to their name. 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. 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 note that hedge funds don't have a meaningful investment in Galileo Mining. 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. ARTICLE ENQUIRY, To subscribe email subscriptions@creamermedia.co.za or click here We can see that individual investors own the lion's share in the company with 44% ownership. Share Registry. Private companies may be related parties. Investment news, stock ideas, and more, straight to your inbox. Meanwhile, private companies make up 30% of the companys shareholders. Goldman Sachs says these are the lithium shares to buy due to a 'game changing' technology. Galileo expects to begin a third RC program at the end of this month and will be followed by diamond drilling in August. When multiple institutional investors want to buy shares, we often see a rising share price. Some 170-million shares will be placed, at a price of A$1.20 a share under Galileos existing placement capacity. Concerned about the content? The companys shares are currently trading at 50 cents apiece, a 150% gain. These audience insights are used to make our website more relevant. The company explores for cobalt, nickel, lithium, and copper, as well as nickel sulphides. 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. Data is 20 mins delayed. Why did the NAB share price smash the ASX 200 in April? Stable Share Price: GAL is more volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 12% a week. Australian Gold Resources Pty. May 1, 2023 | WebGalileo Mining Limited. Less than 5% of Galileo Mining is held by institutional investors. Australian Gold Resources Pty. 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. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. The Company's flagship projects are the Norseman and Fraser Range projects. Let's find out. Overview We aim to bring you long-term focused analysis driven by fundamental data. 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. 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. 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 is an ASX-listed company (ASX: GAL) focussed on the discovery of base metals in Western Australia. We look forward to updating the market as work progresses on this exciting new West Australian discovery. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The Company is engaged in the development and exploration of cobalt, nickel laterite and 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. Have feedback on this article? The placement will increase Galileos total cash balance to around $26.5 million. 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 note that hedge funds don't have a meaningful investment in Galileo Mining. Automic Group Level 5, 191 St Georges Terrace Perth WA 6000 P: 1300 288 644 (within Australia) According to a change of substantial holding notice, Mark Creasy has increased his stake by 3 million shares to 44,371,895 shares. IGO and mining billionaire Mark Creasy are expected to cornerstone WA cobalt and nickel explorer Galileo Minings share placement. Galileo Mining Ltd Follow Mineral exploration. 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 Ltd engages in the exploration of mineral deposits in Western Australia. 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