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Galileo Resources looks to second quarter for start of trial mining at Star Zinc

The junior raised £500,000 in October to the work both there and the Kashitu operation, where Galileo wants to start exploration.

Galileo Resources PLC -

Galileo Resources PLC (LON:GLR) is pencilling in the second quarter of next year for the start of a small scale mining operation at its Star Zinc project in Zambia.

The junior raised £500,000 in October to the work both there and the Kashitu operation, where Galileo wants to start exploration.

Talks are underway for an offtake agreement between Star Zinc and Jubilee Metals Group's Kabwe zinc refinery in Zambia for up to 60 000 tonnes ore per annum at an ore grade of not less than 14% zinc.

Losses in the six months to September were £193,000 (£265,000).

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Price: 1.05 GBX

AIM:GLR
Market: AIM
Market Cap: £8.04 m
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