Galileo Resources PLC has said it expects the recent drop-off in commodity prices to be short-lived and unlikely to be maintained.
"Against this background we are convinced that our portfolio is very well placed with quality projects in the right arena," the company said in its full-year results statement.
“The investor 'stand-off' cannot be maintained since history says that the smaller cap explorers are the call option for tomorrow's metals. That being so, Galileo is extremely well placed, “ noted chairman Colin Bird.
Galileo reported earnings of £1.54mln in the full-year to March 31, 2022, (2021: £88,000) which included a £3.4mln uplift in the value of its portfolio.