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An announcement from Galileo Mining Ltd. ( (AU:GAL) ) is now available.
Galileo Mining Ltd has received a $1.0m payment under its Lithium Farm-In and Joint Venture Agreement with Mineral Resources Ltd. The agreement has been updated to include a two-year suspension of the Earn-In Period, during which Mineral Resources can conduct non-invasive exploration activities. The Earn-In Period can be restarted with a $1.5m payment, requiring Mineral Resources to spend $12.5m to increase its stake to 55%. This adjustment allows flexibility in exploration while maintaining the potential for increased investment and development in the lithium sector.
More about Galileo Mining Ltd.
Galileo Mining Ltd (ASX: GAL) is an exploration and development company focused on PGE (palladium-platinum), nickel, copper, and cobalt resources in Western Australia. The company operates the Norseman project, which includes the Callisto deposit, and holds joint ventures in the Fraser Range for nickel-copper sulphide exploration.
Average Trading Volume: 358,422
Technical Sentiment Signal: Hold
Current Market Cap: A$34.58M
See more data about GAL stock on TipRanks’ Stock Analysis page.