Share Name Share Symbol Market Type Share ISIN Share Description
Galileo Resources Plc LSE:GLR London Ordinary Share GB00B115T142 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.01 2.2% 0.465 1,605,662 08:48:01
Bid Price Offer Price High Price Low Price Open Price
0.45 0.48 0.465 0.455 0.455
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -0.42 -0.14 2
Last Trade Time Trade Type Trade Size Trade Price Currency
10:36:38 O 280,904 0.469 GBX

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Date Time Title Posts
09/10/201912:25Galileo Resources at UK Investor Show107
08/10/201917:25Galileo Resources PLC 2019107
13/6/201918:58Galileo Resources1,085
04/6/201910:55A 10 bagger from here651
04/11/201414:45Galileo Resources - Phosphate & REE in Southern Africa69

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Galileo Resources Daily Update: Galileo Resources Plc is listed in the Mining sector of the London Stock Exchange with ticker GLR. The last closing price for Galileo Resources was 0.46p.
Galileo Resources Plc has a 4 week average price of 0.42p and a 12 week average price of 0.42p.
The 1 year high share price is 1.10p while the 1 year low share price is currently 0.41p.
There are currently 404,596,562 shares in issue and the average daily traded volume is 309,456 shares. The market capitalisation of Galileo Resources Plc is £1,881,374.01.
kinwah: Probably the first week of September. But there should be some good news first to push up the share price. You don't have joint brokers of Novum and Shard and not use them to raise funds. With the right background they should be able to raise up to £1 million. Just guessing - I don't have any actual knowledge of any placing.
bookwormrobert: Hi Plat Hunter! Good to see you here as well. There will be two big costs to the Star Zinc operation - the contract mining and the contract trucking. Both don't required any capital investment, but they do require working capital to sustain them until the first revenue comes in. I'm assuming this will be six months from the start up of operations. Colin Bird estimates $2m per year for the contract mining and trucking, so I'm assuming $1m is required for initial working capital. It may help to remember: 1. The contract mining is more like quarrying than conventional mining. It has a very low strip ratio (1:1), and will require only limited use of explosives. Since Star Zinc has been mined previously, there is already a pit entrance, etc. 2. As regards the trucking, the ore will have an average zinc content of around 10% - that's really high. The distance from Star Zinc to Kabwe is 125km, mostly up a decent road. If you allow for two drivers per truck working daylight hours, that should equal two round trips per day. All in all, I think the share price will move well ahead of any placing, and in the end we'll be looking at a dilution of about 20% to get Star Zinc into production. (I.e. I'm basing my calculations on GLR ending up with 500m shares in issue (before warrants at 2p etc.), rather than the 404m currently. Colin Bird owns around 13% of the company, so he won't want to dilute himself more than can be helped!
bookwormrobert: Hi Bull! Good to see you here as well as in JLP! I don't think there will need to be that much dilution to get Star Zinc into production. The company raised 500K back in April, and it can't have spent all that much since then. So I think they have enough cash to keep going for now. They will need working capital for the contract mining operation - I estimate about six months' worth, which should equal about $1m (taking CB's own estimate). There are various ways they could get this money - Glenover or Ferber sale, Jubilee pre-finance arrangement, bank loan etc. However, that said, I think an equity raise is the most likely way. That equals a maximum dilution of about 33%. BUT, Galileo won't really need to raise money until after the offtake has been signed and the small scale mining licence issued. Surely the share price will be much higher by then? That would imply a much smaller dilution. My fundamental position here is still that this share is currently completely mispriced. AIM can do this sometimes, and we should all take advantage as much as we can!
the bull: Are we getting ready for a doubling at least of the share price soon imo
on target: See this RNS for why BMR have the shares:
bookwormrobert: OK, so you've got a grudge against Colin Bird. We get that; that can happen. But Galileo right now is hugely mispriced. Its market cap is less than $3m (USD). But it has a very credible plan to produce 12,000tpa of zinc at a very low cost within 4-6 months that will lead to earnings of above $10m per year for the next 6 years, and with a big exploration upside as well. All Galileo need is an offtake agreement with Jubilee for the ore's processing, which should arrive in the next few weeks, a small scale mining licence from the Zambian authorities for the simple quarrying style operation planned (and we know Colin Bird has excellent relations with the Zambian government), and a small amount of working capital to cover the start-up costs of a simple contract mining and trucking operation. Nothing too challenging there! IMO, this is one of those cases when AIM has simply got a share price wrong. Normally, it overvalues rubbish companies, but occasionally it undervalues a company with real prospects. You'd be a fool not to take advantage!
pilkersa: Only a minor discepancy with the share price then :)
pilkersa: This is an extraordinary deal. BMR are paying us a huge premium - September's share price of 1.15p. This could rocket today.......
the bull: a nice deal soon for GLR with JLP, mutual benefit as it should be. Should light up the share price which will then drop because of the raise and then rise again once cash comes in. I am in both camps/companies, not quite like the CEO/Chairman/Engineering Director
cautoussid: glr share price now 10% up today
Galileo Resources share price data is direct from the London Stock Exchange
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