Galileo Resources announces profits and progress of mining projects in Zambia
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Galileo Resources PLC reported a profit of £2,172,112 for the six months to 30 September 2024, mainly due to the sale of its stake in Glenover. The company has made significant progress on its projects in Zambia, including obtaining small-scale mining licenses for the Luansobe copper project, which could lead to open-pit and underground mining operations. In addition, Galileo has advanced its Shininganda Copper-Gold Project through successful drilling programs and the continued development of the Kashitu Zinc Project, with the goal of collaborative mining with local stakeholders. These developments indicate Galileo’s enhanced position in the mining industry and the potential for increased shareholder returns.
More about Galileo resources
Galileo Resources PLC is an exploration and development mining company primarily engaged in mining and resource exploration operations in Zambia. The company’s main focus is on copper and gold projects, with significant interests in the Luansobe Copper Project, Shinganda Copper-Gold Project, and other exploration projects in the region.
Price performance since the beginning of the year: -16.67%
Average trading volume: 1,511,927
Artistic Sentiment Consensus Rating: Strong buy
Current market value: £10.18 million
Learn more about GLR stock at TipRanks stock analysis page.
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