Galileo Mining
Primary ticker: ASX:GAL
Stage of development: Exploration
Primary mineral: Nickel, Palladium, Platinum
Projects to promote: Norseman Nickel & Palladium Project
Project locations: Australia
Website: www.galileomining.com.au
Corporate presentation: Click here
Galileo is a well-funded and active exploration company focussed on its highly prospective Norseman and Fraser Range nickel-palladium projects in Western Australia.
In 2022 Galileo made the Callisto nickel-palladium discovery at the Norseman Project and this area is the primary focus for the Company.
At the Fraser Range, Galileo has two project areas with strong potential for nickel. The operating Nova nickel mine, owned by IGO Ltd – Galileo’s second largest shareholder, sits between the two Galileo project areas.
Cash: AUD$13M
Debt: Nil
Major Shareholders:
Creasy Group – 28%
IGO – 8%
Brad Underwood – 4%
Private Fund- 3%
Noel O’Brien (Director)- 1.3%
Management ownership – 6%
Financials
Management Profile
Brad Underwood, Chairman and Managing Director
Brad Underwood is a geologist with 20 years experience in exploration, prospecting, and mining. He has been involved in nickel, palladium, copper, gold, and cobalt discoveries and the development of numerous prospects over a variety of commodities. Brad has a wide range of skills including the strategic growth and commercialisation of mineral assets at different stages of development.
What is your rationale for taking part 121 Mining Investment?
What recent news would you like to highlight to investors attending?
26th August 2024 – Drilling Underway at Priority Norseman Targets;
16th July 2024 – Quarterly Cash Flow Report
12th June 2024 – Mineral Resources Lithium Joint Venture Agreement
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Discovery of new nickel and palladium resources
6 Months:
Development of new drilling targets leading to the discovery of new nickel and palladium resources.
12 Months:
Development of new drilling targets leading to the discovery of new nickel and palladium resources.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Exploration for new metal deposits is a high-risk business. This risk is mitigated through the experience that our team brings to this field of endeavour. Each drilling program is carefully planned and executed to maximise our chances of success.