Galileo Resources PLC (LON:GLR)

Galileo Resources Plc is an opportunity driven company whose model is to acquire large data bases generated by major companies and abundant for strategic, corporate, technical and other reasons which do not necessarily reflect the potential value of the project. The current main focus is on the Star Zinc project in Zambia close to Lusaka. Significant zinc intersections have been made in a...

Galileo Resources Plc is an opportunity driven company whose model is to acquire large data bases generated by major companies and abundant for strategic, corporate, technical and other reasons which do not necessarily reflect the potential value of the project. The current main focus is on the Star Zinc project in Zambia close to Lusaka. Significant zinc intersections have been made in a recent drilling Programme and the fundamentals point towards a developing zinc mine.

The Company owns a 38% interest in the Glenover Phosphate project and is negotiating a long-term off-take agreement with a major fertiliser producer subject to certain product specifications. The tailings material will contain high values of strategic rare earths which have shown themselves to be capable of producing a refinable rare earth product for international refinery.

Galileo has a 100% interest in a highly prospective copper/gold project in northeastern Nevada. The project is close to gold exploration, where claims are being made as to an emerging new Carlin Trend.

The Company has retained a 15% interest in the Concordia copper project in the O’kiep district of the Northern Cape of South Africa.