Luansobe Licence Update
Galileo Resources Plc has provided an update on its Luansobe Copper Project, confirming that it and its joint venture partner Statunga Investments Limited continue to assert their legal position regarding Small-Scale Mining Licences 34543/HQ/SML and 34545/HQ/SML. While pursuing legal avenues, the company and Statunga are also engaged in dialogue with key stakeholders to find an amicable resolution, with further shareholder updates to follow once this process is satisfactorily concluded.
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The Board of Galileo Resources Plc advises on an update on the Small-Scale Mining Licences numbers 34543/HQ/SML and 34545/HQ/SML (hereinafter collectively referred to as "The Licences") and which together form the Luansobe Copper Project. Galileo's 75% interest in Luansobe is held through a JV Agreement with Statunga Investments Limited ("Statunga") dated 30 December 2021.
Further to the announcement of 14 July 2026, the Company and Statunga continue to maintain their legal position regarding the ownership of the Licenses and continue to pursue the matter through all possible legal avenues.
The Company and Statunga however, are in dialogue with key stakeholders in order to arrive at an amicable solution. Once this process has satisfactorily concluded, shareholders will be advised as to the outcome.
You can also follow Galileo on Twitter: @GalileoResource
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.