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Galilee Energy Limited ( (AU:GLL) ) has provided an update.
Galilee Energy Limited has announced the issuance of 175 million fully paid ordinary shares, along with an additional 16.67 million shares to Mr. Greg Columbus, as approved at their recent Annual General Meeting. This move is part of a placement strategy previously announced, and the company has complied with relevant provisions of the Corporations Act, indicating transparency and adherence to regulations. This share issuance is expected to bolster Galilee’s financial position as it continues to develop its sustainable energy projects, potentially impacting its market positioning and stakeholder interests.
The most recent analyst rating on (AU:GLL) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Galilee Energy Limited stock, see the AU:GLL Stock Forecast page.
More about Galilee Energy Limited
Galilee Energy Limited is advancing towards becoming an integrated and diversified sustainable energy company, focusing on supplying natural gas to the east coast market of Australia. It owns one of the largest uncontracted natural gas resources in the region, located within the Glenaras Gas Project in Queensland’s Galilee Basin. The project is noted for its environmental credentials, including fresh water production for crop use and low CO2 levels.
Average Trading Volume: 1,040,718
Technical Sentiment Signal: Sell
Current Market Cap: A$5.66M
Learn more about GLL stock on TipRanks’ Stock Analysis page.