Galileo Resources PLC (AIM:GLR) hailed a "very progressive and successful" year with its projects across Zimbabwe, Zambia and Botswana, as well as a successful exit from its Glenover project in South Africa.
The exploration and development mining company reported a loss for the year to end-March of £1.5 million and £1.4 million of cash in the bank at the end of the period.
Since then it has remained busy, with plans announced in May to begin soil sampling across its three licences at the Kalahari Copper Belt project in Botswana, with an additional airborne gravity survey at no cost on part of one licence commissioned by the holders of neighbouring licences.
Initial drilling was reported at the Kamativi lithium project in June and the timetable regarding the Glenover deal was revised to remove the requirement for the previous suspensive conditions to be met before the first two tranches of consideration are paid, with the final payment made on 30 April 2024.
The company also that month entered into a joint venture agreement with a 51% interest over the Shinganda copper-gold project in western Zambia following the expenditure of more than US$0.5 million in direct exploration costs, and delineated a number of targets at the Bulawayo gold project in Zimbabwe.
Last month, Galileo reported that the first hole drilled at Zimbabwe's Kamativi had been successful in intersecting significant lengths of lithium mineralisation in pegmatite rocks.
This month has seen an earn-in agreement with Cooperlemon Consultancy for the exploration of copper on its licence 28001-HQ-LEL in Northwest Zambia and the reporting of several immediate drill targets at Shinganda in areas that display elevated copper in soils.