Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Galileo Resources plays down recent share price surge

The stock has gained more than 75% over the past week
share price graph
"There are no new material developments," Galileo said in a statement this afternoon

The board of Galileo Resources PLC (LON:GLR) has played down the company’s recent share price hike, telling investors that there are “no new material developments”.

The shares have spiked more than 75% over the past week and are up again today.

Galileo suggested it didn’t know what was behind the rise as it reminded the market about where it is with its various projects.

It said its principal focus remains at its Concordia copper project in South Africa, where an exploratory drilling programme is underway to test several mineralisation targets.

As announced last summer, Galileo has farmed out an interest in its Silverton gold prospect in Nevada, USA, to Orogen Gold PLC (LON:ORE).

Shares were up 2% to 8.19p shortly before close of play on Wednesday.

View full GLR profile View Profile

Galileo Resources PLC Timeline

Related Articles

6_Traders_at_work_582e3c2af1b55.jpg
November 17 2016
The exercise of options by Pantoro’s managing director provides the company with cash funding and shows that senior management believe in the company’s future.
picture of gold pour
June 30 2017
Ironridge thinks its portfolio, which sits on the prolific Wa-Lawra shear in the north-east of the country, has “company making potential”.
Energy Fuels' asset portfolio gives good exposure to potential uranium price lift
July 12 2017
The broker repeated a 'buy' rating and targets C$5 a share, which is more than double the current price

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use