Completion of Sale of 2 Kalahari Copper Licences
Galileo Resources Plc has completed the sale of its subsidiary, Virgo Business Solutions (Pty) Ltd, which holds two Kalahari Copper Belt licences, to Metal Capital Exploration Limited, a subsidiary of Sandfire Resources Limited, for US$3 million. The company plans to utilize these proceeds to advance its existing projects and provide additional working capital for corporate expenses and new business initiatives.
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Galileo Resources plc ("Galileo“ or the "Company") is pleased to announce that, further to its announcement of 18 September 2026, completion has occurred under the share purchase agreement entered into on 15 June 2026 for the sale of its subsidiary, Virgo Business Solutions (Pty) Ltd, to Metal Capital Exploration Limited a wholly owned subsidiary of ASX-listed Sandfire Resources Limited (“Sandfire”), with Sandfire acting as purchaser guarantor. Galileo intends to use its proceeds from the transaction to advance its current portfolio of projects and provide the Company with additional working capital for ongoing corporate costs and to continue with its new business activities.
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