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Galileo Resourc (GLR) Share News

IN BRIEF: Galileo Resources swings to interim profit on Glenover sale

31st Dec 2024 07:35

Galileo Resources PLC - copper, gold and lithium mine development in Zambia, Zimbabwe and Botswana - Swings to pretax profit of GBP2.3 million in the six months that ended September 30 from a GBP471,761 loss a year before. Galileo has no operating income. The swing to profit is thanks to GBP2.5 million profit on sale of asset, compared to no such gain a year before. This is from Galileo's 35.7% total interest in Glenover Phosphate (Pty) Ltd, which back at the end of 2021 agreed to sell the Glenover phosphate project in South Africa to Johannesburg-listed Afrimat Ltd for ZAR250 million, about GBP11.6 million. Then in 2023, Galileo also agreed to sell its stake in the Glenover subsidiary to Afrimat. It received the second tranche payment for this in May. Read More

UK shareholder meetings calendar - next 7 days

30th Oct 2024 15:06

Galileo Resources "pleased" with outcome of drilling program in Zambia

3rd Oct 2024 14:31

(Alliance News) - Galileo Resources PLC on Thursday gave an upbeat update about its Shinganda licence in central western Zambia. Read More

EARNINGS: Blackrock Latin opts for patience as net asset value falls

27th Sep 2024 14:26

(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Friday and not separately reported by Alliance News: Read More

IN BRIEF: Galileo mulling "commercial options" at Luansobe

6th Sep 2024 18:13

Galileo Resources PLC - mining company focused on Zambia, Zimbabwe, Botswana, South Africa and the US - Says in shareholder interest to split Luansobe copper project into "separate mining and processing operations each capable of generating a sustainable and profitable business". Galileo has 75% interest in the Zambia-based project. Read More

Galileo tests extent of mineralisation at Shingada with drilling

21st Aug 2024 12:13

(Alliance News) - Galileo Resources PLC on Wednesday said that it has started phase three reverse circulation drilling at Shingada. Read More

TRADING UPDATES: Tan Delta signs contract; Earnz loss widens

9th Aug 2024 17:15

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and Friday and not separately reported by Alliance News: Read More

IN BRIEF: Galileo Resources to start Phase III drilling in Zambia

24th Jun 2024 15:37

Galileo Resources PLC - Mining company focused on Zambia, Zimbabwe, Botswana, South Africa - Decides to commence a Phase III drill programme at the Shinganda copper-gold project in Zambia. Phase I results, announced in January, and the recently completed Phase II drill programmes have confirmed the presence of copper gold mineralisation associated with major regional and more localised structures, company says. Higher copper and gold grades were found at shallow depths, where primary mineralisation was subjected to supergene enrichment. Phase III drilling will target a projected supergene high-grade, broadly drill-defined zone. Supergene enrichment is broadly associated with a coincident magnetic anomaly. Chair and Chief Executive Colin Bird says drilling should start by the end of the third quarter. Read More

EARNINGS AND TRADING: Directa Plus wins Rome deal; Corre raises funds

29th May 2024 19:26

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News: Read More

EARNINGS AND TRADING: Trident Royalties swings to profit

2nd May 2024 15:45

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More

IN BRIEF: Galileo drill results show lithium enhancement at Kamativi

19th Mar 2024 14:03

Galileo Resources PLC - Mining company focused on Zambia, Zimbabwe, Botswana, South Africa - Says phase one drill results for its 80% owned Kamativi lithium-tin project in Zimbabwe show "extensive" lithium enhancement. Results peak at 1.0% of lithium oxide over four metres. Adds that geological mapping and prospecting have identified mineralisation/alteration in pegmatites over at least 1.5 kilometre strike length, which has only been partially drill tested to date. Chief Executive Officer Colin Bird says: "An unusual feature of this discovery is the spread of highly anomalous lithium through the mica schist host rock, as opposed to being solely contained within the pegmatite. We have no doubt that discordant pegmatites are the drivers to lithium content and our mapping programmes have located more discordant pegmatites than previously recognised. On the basis that the nearby Kamativi mine was a long-producing tin operation it comes as no surprise that we also see anomalous tin associated with these discordant pegmatites, in some cases coincident with lithium." Read More

TRADING UPDATES: United Oil adds Jamaica expert; Vaalco makes buy

29th Feb 2024 18:06

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More

TRADING UPDATES: Genflow wins new research grants; Seeen margin rises

1st Feb 2024 14:27

(Alliance News) - The following is a round-up of trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More

TRADING UPDATES: Lexington completes Bothaville drilling phase

30th Jan 2024 14:20

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More

Galileo Resources loss narrows in first half as expenses fall

28th Dec 2023 16:41

(Alliance News) - Galileo Resources PLC on Thursday said it reduced its first-half loss as expenses and value adjustment losses narrowed during the period. Read More

IN BRIEF: Galileo Resources Shinganda drilling progressing as expected

7th Nov 2023 11:55

Galileo Resources PLC - Mining company focused on Zambia, Zimbabwe, Botswana, South Africa and the US - Says phase two drilling programme at Shinganda copper-gold project in Zambia is progressing as planned with seven holes completed to date. Says most recent hole SHDD017 has intercepted an "extensive interval of alteration and brecciation with associated copper mineralisation within the Shinganda fault splay system." Confirms mineralisation and says sampling for follow-up laboratory assaying is in progress. Chief Executive Officer Colin Bird says: "Hole SHDD017 is a particularly impressive hole with an intercept length of more than 250 [metres] which was heavily brecciated and accompanied by copper mineralisation throughout its length, with values to be determined by assay. The nature of the host environment is not typical for traditional copper belt mineralisation, which leads us to believe that this could be a totally different style of mineralisation." Read More

IN BRIEF: Galileo Resources pleased with Kamativi drilling programme

17th Oct 2023 16:20

Galileo Resources PLC - mining company focused on Zambia, Zimbabwe, Botswana, South Africa and the US - Says the phase 1 drilling programme at Kamativi for lithium and associated elements over a pegmatite-rich area of about 1 kilometre by 0.5 kilometres has been completed, for 1,428.4 metres in 10 holes. Notes mineralisation and alteration similar to that reported in the first hole, KSDD001 has been observed in several of the subsequent holes. Adds core logging and sampling is underway, preparing samples for export to the ALS laboratory in Johannesburg for lithium and associated element analysis. Undertakes infill soil sampling over a strong rare earth elements soil anomaly in the north-eastern sector of the licence and testing for copper in the southern part of the licence for VMS-type mineralisation. Read More

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