Galileo raises exploration funds
PERTH (miningweekly.com) – ASX-listed junior Galileo Mining will raise A$6.5-million in a share placement to fund exploration work in Western Australia.
The company on Wednesday announced that it would place some 25-million shares at an issue price of 26c each to raise the funds. The placement will be undertaken under the company’s existing placement capacity, and will not require shareholder approval.
“This placement, in conjunction with the company’s existing cash reserves, puts Galileo in a strong position to fund multiple exploration programmes both at our Norseman palladium/nickel project and at our Fraser Range nickel/copper/cobalt project,” said Galileo MD Brad Underwood.
“A large aircore drilling programme for palladium and nickel is due to start at Norseman in late September/October with a diamond drilling campaign planned for the Fraser Range later in the year. We look forward to getting the drill rods turning with the aim of making high value resource discoveries.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















