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Market: AIM
52-week High/Low: 11.20p / 0.83p
Sector: Mining
Market Cap: 20.37M
Phone: +44 (0)20 7581 4477
Address: 56 Station Road, Egham, Surrey TW20 9LF.
Galileo Resources PLC

Galileo Resources PLC

Galileo Resources PLC is a resource/development company specialising in the acquisition of projects which can be brought into production in the near-term. Our portfolio consists of Glenover, a South African Rare Earth/Phosphate project which has undergone a successful independent preliminary economic study. In May 2014, Galileo Resources acquired St. Vincent Minerals, a Canadian based company, which owns the Gabbs Property in Nevada, a major copper/gold project.

Galileo Resources is traded in the ISDX Exchange HERE

Galileo Resources PLC

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Big picture - Why invest in Galileo Resources PLC

Galileo Resources PLC Snapshot

The strategy is to acquire companies who have themselves acquired positions from major mining companies and in so doing have attained ownership of large raw data packages which would take tens of millions of dollars of expenditures to generate from a cold start.


The management has a history of achieving this in previous other companies and it is considered that this strategy is superior to companies who are developing concepts without the backup of real information.


In essence the Company, by adopting this strategy, leaps the first major hurdle of risks, working more on adding value than initial discovery. Our Glenover project was well researched by Gold Fields of South Africa and sold on to Fe-Min-Ore since Gold Fields elected to return to gold mining as its core business and rare earths at the time of disposal was not well understood or market required.


The St. Vincent Minerals acquisition consists of one major copper/gold project in Nevada, USA which has a 43-101 resource of some 1.6 million oz of gold equivalent and significant upside potential.


Other projects within the St. Vincent stable are less advanced but are in areas which show significant potential for copper, gold, molybdenum and silver.

Gabbs Gold & Copper Project at a Glance


The Gabbs Property is located in the Fairplay Mining District, on the southwest flank of the Paradise Range, about 9 km (5.6 mi) south-southwest of the town of Gabbs, Nye County Nevada. It is centered at UTM 4,292,900N, 417,730 E.

Access to the property is via Highway 361, southwest from Gabbs to Pole Line Rd, then 3.5 km (2.2 mi) south to the center of the property.

The Property is situated in an area of dry rolling hills bounded on the west by the Gabbs Valley and on the east by the northeast trending Paradise Range. Surface elevations for the project area range from 1,395 meters amsl (4,578 feet) on the northwest corner of the claim block, to 1,770 meters amsl (5,800 feet) on the southeast edge of the property.

Vegetation is sparse, with light coverage by various grasses and low shrubs.

The Gabbs Property consists of 355 un patented lode claims and 1 patented lode claim which constitute a 28 km. sq. (10.8 mi. sq.) contiguous claim block.

The Gabbs claims are held as collateral through security agreements between St. Vincent Minerals US Inc. and Newcrest Resources Inc. (―Newcrest‖). St. Vincent is the owner of 100% interest in the property pursuant to a purchase and sale agreement with Newcrest dated October 29, 2010.

St. Vincent is required to pay an annual Maintenance Fee of $140 per un patented lode claim to Bureau of Land Management and $10.50 per un patented lode claim to the Nye County Recorder‘s Office.

The aggregate annual fee for the Gabbs Project is $53,428 due September 1st of each year for the subsequent assessment year.





Glenover Rare Earth Project at a Glance

Based on mineralogy studies carried out by both SGS, South Africa and Xstrata Process Solutions of Canada, Glenover has a comprehensive understanding of the three major rock-types of interest on its large intrusive, namely Apatite Breccia, Pyroxenite and Carbonatite.

The company recently appointed the services of UK-based GBM to perform the project Preliminary Economic Assessment focused on its SAMREC-compliant 10MT breccia resource. This study is being carried out in collaboration with the REE-experienced metallurgical laboratories Anzaplan of Germany and the resulting PEA report will be available by early 2013.

Simultaneously an in-depth PFS-level metallurgy program is underway at a major state-owned REE-laboratory in China with one ton of breccia ore having been provided for ultimate piloting of one of two potential flow-sheets. Feedback from the PEA study may provide useful parameters for this work nevertheless the separation of PEA and PFS mandates is designed to accelerate the overall project. The project team selected the specific Chinese laboratory due to it having demonstrated a great depth of understanding of REE processing, generally unattainable in western laboratories.


Short time to market and to realize investment returns: Existing stockpiles of REE-rich minerals have already been mined

and are ready for processing

Highly accessible REE: The stockpiles present short term processing potential with no mining risk

REE-bearing and Niobium-rich materials below the surface: Significant below surface reserves for later stage development

Strong local partner: Fer-Min-Ore has 40 years of international construction and processing experience in the mining industry backed by over 100 years of design know how

Strategic alternative supply source of REE: China currently controls 97% of global REE production and are
taking actions to restrict REE exports




Colin Bird – Chairman and Chief Executive Officer

Colin Bird has a Diploma in Mining Engineering, is a Fellow of the Institute of Materials, Minerals and Mining and is a certified mine manager both in the UK and in the United States of America. The formative part of his career was spent with the National Coal Board in the UK and thereafter he moved to the Zambia Consolidated Copper Mines and then to South Africa to work in a management position with Anglo American Coal. On his return to the UK he was Technical and Operations Director of Costain Mining Limited, which involved responsibility for gold mining operations in Argentina, Venezuela and Spain. In addition to his coal mining activities he has been involved in the management of mining nickel, copper, gold and other diverse mineral operations. He has founded and floated several public companies in the resource sector and served on resource company boards in the UK, Canada and South Africa. Notably he was on the board of Kiwara Plc which was successfully sold to First Quantum Plc in February 2010. In addition, he currently serves as Chairman of Jubilee Platinum, an AIM listed platinum exploration company with operations in South Africa.


Andrew Francis Sarosi – Executive Director - Finance & Corporate Development

Andrew Sarosi is a mineral processing engineer and consultant with 40 years experience in mineral processing research and development, process and plant design, management of pilot to full scale operations and troubleshooting in gold, silver, tungsten, tin, copper, and zinc and diamond ore processing in Saudi Arabia, Ethiopia, South Africa, Botswana and the United Kingdom. Andrew is currently executive director of Jubilee and is on the board of other resource and exploration companies in South Africa – including the Tjate Platinum Mine project – Madagascar, Canada and Australia.


J Richard Wollenberg – Non-Executive Director

Richard Wollenberg, was, between 1981 and 1996, an investment consultant with Brown Shipley Stockbroking Limited and has over the past 25 years, been actively involved in a number of corporate acquisitions, mergers and capital re-organisations of public and private companies. Mr.Wollenberg is currently Chairman and Chief Executive Officer of The Cardiff Property Public Limited Company, a quoted property investment and development company.


Christopher (Chris) Molefe – Non-Executive Director

Mr. Molefe was formerly the Chief Executive of Royal Bafokeng Resources (Pty) Limited and is presently the Non-Executive Chairman of Merafe Resources Limited a publicly listed company on the JSE Securities Exchange, and a non-executive Director of Capital Oil (Pty) Ltd and Jubilee Platinum.


For more information please click here

Name of holder

No. of ordinary shares

% of voting rights and issued capital



Colin Bird





Cantor Fitzgerald Europe





SVS (Nominees) Ltd Des: Pool





Thorsen-Fordyce Merchant Capital Inc





WB Nominees Ltd




Galileo Resources Plc

Company Secretary: Anthony Shakesby ACA

4th floor

2 Cromwell Place

London SW7 2JE

United Kingdom

Tel UK: +44 (0) 20 7581 4477

Fax UK: + 44 (0) 20 7589 7806


Unit 8, Block B, 1st Floor, Stoney Ridge Office Park

Cnr Witkoppen & Waterford Place, Kleve Hill Park

Paulshof, 2068, South Africa

Tel SA: +27 (0) 11 465 1913

Fax SA: +27 (0) 11 465 1895


Email us on [email protected]

Nominated Adviser and Broker

Beaumont Cornish Limited

2nd Floor

Bowman House

29 Wilson Street

London, EC2M 2SJ

Tel: +44 (0) 20 7628 3396

Fax: +44 (0) 20 7628 3393


E-mail: [email protected]


UK Solicitors to the Company

Morgan Cole LLP

Bradley Court

Park Place

Cardiff CF10 3DR

Tel: +44 (0) 870 366 4644


E-mail: [email protected]


BVI Solicitors to the Company

Appleby Global

2nd Floor

2 Royal Exchange Buildings

London EC3V 3LF

Tel +44 (0) 20 7283 6061

Fax +44 (0) 20 7469 0540 


E-mail: [email protected]


RSA Solicitors to the Company

Falcon & Hume Incorporated Attorneys

Block B, 7 Eton Road

Sandhurst Sandton

Johannesburg 2196


Solicitors to the Nominated Adviser

Fladgate LLP

16 Great Queen Street

London WC2B 5DG

T: +44 (0) 20 3036 7000

F: +44 (0) 20 3036 7600


E-mail: [email protected]


Reporting Accountants

Saffery Champness

Lion House, Red Lion Street

London WC1R 4GB

Tel: +44 (0) 20 7841 4000

Fax: +44 (0) 20 7841 4100


E-mail: [email protected]


Auditors to Glenover

Lucro Auditing

30 Waterford Office Park

Waterford Drive


Johannesburg, South Africa

Tel: +27 (0) 11 875-6000

Fax: +27 (0) 11 658-1212


E-mail: [email protected]



Neville Registrars

Neville House, 18 Laurel Lane


West Midlands B63 3DA

Tel: +44 (0) 121 585 1131

Fax: +44 (0) 121 585 1132


E-mail: [email protected]

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