Business
Audited Results for the year ended 31 March 2025
For the year ended March 31, 2025, Galileo Resources PLC reported a profit of £1,529,973, a significant turnaround from the £1,051,901 loss in 2024. Basic profit per share was 0.13 pence, compared to a loss of 0.09 pence per share in the previous year. The Group's total assets amounted to £13,303,081, while total liabilities were £222,497. Net cash flows from investing activities totaled £2,876,664. The Glenover sale was settled in full, completed by the receipt of the second and final tranche payments, amounting to approximately ZR 54.4 million (approx. GBP2.35M). Cash at the end of the year stood at £1,720,095, a substantial increase from £42,860 the prior year. Disclaimer*
About this update from Galileo Resources Plc
[{"type":"text","content":"\n\n\n \n29 September 2025\n \nGalileo Resources Plc\n(\"Galileo\" or the \"Company\" or the \"Group\")\n \n \nAudited Results for the year ended 31 March 2025\n \nGalileo (AIM: GLR), the exploration and development mining company, announces its audited results for the year ended 31 March 2025.\n \nHighlights for the period under review\n \n· At Luansobe, significant advances were made towards near-term copper production, supported by the award of two 10-year small-scale mining licences, that together cover both the open-pit, underground and deeper exploration target areas. The two licences encompass the Luansobe JORC (2012) Inferred Mineral Resource, estimated at 5.8 million tonnes gross grading 1% total copper, suitable for open-pit mining, and an additional 6.3 million tonnes at 1.2% copper, suitable for underground extraction. Combined, this represents around 153,000 tonnes of contained copper. There is further upside potential to extend the mineral resource, including the incorporation of shallow underground mineralisation grading between 1 to 1.5% Cu which was previously excluded from the resource due to drill density, and the addition of deeper, higher-grade copper zones to the south.\n· The priority for the reporting period included the completion of open-pit sensitivity analysis, which has facilitated advanced discussions with third parties who are interested in developing a multi-faceted mining approach at Luansobe, which presents significant optionality in future mining and processing scenarios. The company intends to rapidly advance the near-term open-pit mining potential at Luansobe, while preserving scope for the longer-term underground potential.\n· At the Shinganda copper-gold project, third and fourth phases of drilling were completed, enabling a full geological reinterpretation of the licence. Results indicate strong potential to host a large Iron Oxide Copper Gold (IOCG) mineralised system. Phase three drilling focussed on defining near-term open-pit copper potential at the Shinganda outcrop zone and along the Shinganda Splay Fault, expanding shallow oxide copper-gold mineralisation to a 150m x 350m area. Phase four drilling targeted a broader IOCG system, with intersections confirming w...