10th Aug 2022 14:38
Galileo Resources PLC - London-based mining company focused in the US and Africa - Agrees to acquire a further 29% stake in BC Ventures Ltd, which owns "highly prospective" Kamativi lithium project in southwest Zimbabwe, as well as two gold licenses at the Bulawayo gold project. Galileo will issue 50.0 million shares at 1.2 pence each, for GBP600,000, to fund the purchase, which is expected to complete this month. The shares are at a 4.4% premium to Monday's closing price of 1.15p, and subject to a 12-month lock-up agreement. This brings Galileo's total stake in BC Ventures to 80%.
Current stock price: 1.15p
12-month change: up 1.8%
By Elizabeth Winter; [email protected]
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