leadf
logo-loader
viewGalileo Resources PLC

Galileo Resources higher as it inks marketing agreement for sale of ore from Star Zinc project

The company said the agreement with Swiss trading firm ZopCo is on a global basis and a number of potential off-take agreements are being finalised.

Galileo Resources PLC - Galileo Resources higher as it inks marketing agreement for sale of ore from Star Zinc project

Galileo Resources PLC (LON:GLR) shares rose on Wednesday after the firm inked a marketing agreement with Swiss trading company ZopCo concerning the potential sale of zinc willemite ore from its Star Zinc project in Zambia.

AIM-listed Galileo said the appointment is on a global basis and a number of potential off-take agreements are being finalised.

READ: Galileo Resources issues "very promising" exploration update on its' 100% held property in the emerging Kalahari Copper Belt

"We are pleased to have entered into a marketing agreement with ZopCo who have extensive market knowledge, and expertise. We have taken this decision to extend our options on the marketing of product from the Star Zinc project in what appears to be a rising zinc market", Galileo’s chairman and chief executive Colin Bird said in a statement.

Shares in the firm jumped 5.8% to 0.9p in mid-morning trading.

Quick facts: Galileo Resources PLC

Price: 1.9 GBX

AIM:GLR
Market: AIM
Market Cap: £15.97 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Galileo Resources PLC named herein, including the promotion by the Company of Galileo Resources PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Market Report: FTSE gains despite UK recession gloom

Headlines from the Proactive UK newsroom. The FTSE has opened up slightly higher despite news that Britain has slumped into recession - suffering its biggest decline on record between April and June, with the economy shrinking 20.4% compared with the first three months of the year - this...

on 12/8/20

2 min read