Business
Half-year Financial Report
Galileo Resources PLC reported a loss of £644,766 for the six months ended 30 September 2025, a significant shift from the profit of £2,172,112 in the prior year, resulting in a loss per share of 0.05 pence. The company has been actively progressing its Luansobe Copper Project in Zambia, exploring options for development and resource definition, and has entered a conditional agreement with Jubilee Metals Group PLC for the Molefe Copper Project, committing US$700,000 for a 23.75% interest. Additionally, Galileo continues exploration at its Ferber Cu-Au project in Nevada, USA, and its Kalahari Copperbelt Cu-Au project in Botswana, with ongoing evaluation and drilling programs. The company also noted the issuance of 218,500,000 new ordinary shares during the period, raising £1.7 million before expenses. Disclaimer*
About this update from Galileo Resources Plc
[{"type":"text","content":"\n\n \n \n \n24 December 2025\n\n \nGalileo Resources PLC\n(\"Galileo\" or \"the Company\" or \"the Group\")\n \nUnaudited interim results for the six months ended 30 September 2025\n \nGalileo (AIM: GLR), the exploration and development mining company, announces its unaudited interim results for the six-month period ended 30 September 2025. A copy of the interim results is available on the Company's website, www.galileoresources.com.\n \nFinancial Highlights\n \nThe Group reported a loss of £644,766 (2024: profit of £2,172,112) after taxation. The profit reported during the prior period was generated by the sale of the Company's interest in Glenover. Loss per share reported is 0.05 pence (2024: profit of 0.19 pence) per share. Profit/(Loss) per share is based on a weighted average number of ordinary shares in issue of 1,179,904,300 (2024: 1,163,188,453).\n \nOperational Highlights\n \nLuansobe Copper Project, Zambia\n \nGalileo holds a 75% interest in the Luansobe Project with JV partner Statunga Investments Limited, a private Zambian company. The project is situated in the Zambian Copperbelt just 15km along strike to the northwest from the historic Mufulira Mine, which produced well over 9Mt of copper metal during its operation. The mineralisation at Luansobe is essentially a continuation of that present at Mufulira and is hosted within the same stratigraphic horizon, concentrated in the northwestern limb of the northwest-southeast trending Mufulira syncline. At Luansobe the mineralisation occurs over a strike length of 3km in at least two semi-contiguous zones that dip 20-30 degrees to the northeast to a vertical depth of at least 1,250m.\n \nAdjoining small scale mining licences 34543-HQ-SML and 34545-HQ-SML were awarded for a period of ten years from the 24 April and 4 August 2024 respectively and cover a combined area of 738 Ha. The licences encompass a shallow open-pittable Inferred Mineral Resource of 5.8Mt at 1% Cu and a deeper underground Inferred Mineral Resource of 6.3Mt at 1.5% Cu, as well as a southern exploration target.\n \nOpen pit sensitivity and mine optimisation analysis completed in the previous reporting period by independent consultants provided the technical understanding required to develop the most optimal mine plan at Luansobe that ...