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Investegate |Galileo Resources Announcements | Galileo Resources: Half-year Report


 
Period under review
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Galileo acquired 100% of Botswana-incorporated Crocus-Serv (Pty) Ltd ( Crocus ), whose assets comprise of 21 copper and nickel-PGE (Platinum Group Elements) exploration Prospecting Licences ( PLs ) in the highly prospective Kalahari Copper Belt ( KCB ) and the Limpopo Mobile Belt ( LMB ) in western and eastern Botswana respectively. The consideration of £163,020 for the acquisition comprised the issue of a total 38,814,246 new Galileo ordinary shares of 0.1p at 0.42p each and a separate cash payment of £10,828.
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The Company commenced development of an exploration programme for the KCB properties.
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The Company s subsidiary, Crocus, submitted, in terms of the Botswana Environmental Assessment Act (2011), a draft Environmental Management Plan ( EMP ) for the KCB project to the Department of Environmental Affairs ( DEA ) Botswana for review. ....

South Africa , Free State , Colin Birdchairman , Colin Rowbury Jon Belliss , Roland Cornish James Biddle , Edward Slowey , Zopco Sa , Joel Silberstein , Company The Excluded Licences , Department Of Water , Platinum Group Elements , Africibum Co Pty Ltd , Company Sandfire , Botswana Company , Department Of Mineral Resources , Beaumont Cornish , Galileo Resources , Department Of Environmental Affairs , Zambian Ministry , Serv Pty Ltd Crocus , Ministry Of Minerals , Sandfire Resources Limited , Competition Authority Of Botswana , Novum Securities , Enviro Mining , Exploration Assets ,

Investegate |Galileo Resources Announcements | Galileo Resources: Audited Results for the year ended 31 March 2020


 
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Completed, 21 June 2019, an independent initial inferred resource estimate ( IRE ) for the Star Zinc project in accordance with JORC 2012
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The IRE reports Inferred zinc resources with reasonable prospects of future economic extraction of approximately 500 000 tonnes at 16% Zn or 77 000 tonnes of contained metal above a cut-off grade of 2% Zn, including approximately 340 000 tonnes at 21% Zn for 72 000 tonnes of metal above a cut-off grade of 8% Zn
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Raised £1,000,000 in placing, before expenses, to advance the Star Zinc Project and for general working capital purposes
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Acquired unconditionally from BMR, the remaining 15% of the shares that the Company did not hold in Enviro Zambia Ltd, thereby increasing the Company s ownership in the Star Zinc Project to 95% with the Zambian government holding the other 5% Kashitu Zinc Prospect ( Kashitu ) ....

United States , United Kingdom , South Africa , City Of , Free State , South African , Colin Rowbury Jon Belliss , J Richard Wollenberg , Andrew Sarosi , Damon Heath , Ed Slowey , Roland Cornish , Colinbird Joel Silberstein , Christopher Molefe , Zopco Sa , Joel Silberstein , International Financial , Department Of Water , Registrar Of Companies , Enviro Mining Limited , Platinum Group Elements , Africibum Co Pty Ltd , International Accounting Standards Board , London Stock Exchange , Beaumont Cornish , International Financial Reporting Standards ,