Galileo Resources

GLR · AIM · Basic Resources · mcap £9.4m · 0.7p 4 open situations →

EV: £9.8m
EV / EBIT: –
Net cash: £185k
FCF yield: -33.9%
Revenue: –
Share price 1y: −21%
Insiders 12m: no deals
Next report: around 23 Dec

Beta Briefing, track record and signals & risks are not ready for Galileo Resources yet.

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2026 Luansobe licence cancellation dispute Luansobe third-party discussions Working capital convertible facility Molefe drilling programme Sale of Botswana Virgo licences

Open · 4

Legal & regulatory

Luansobe licence cancellation dispute

Legal position held; seeking amicable resolution

Led to Luansobe third-party discussions – Talks put on hold after licence loss

Luansobe's two licences vanished from the Zambian cadastre (14 Jul 2026), putting Galileo's 75% earned interest at risk; a court challenge and an injunction against Mopani followed. On 21 Aug the company held its legal position and was in talks. The 30 Sep results repeat this, still with no outcome or timetable.

Interest at risk: Galileo's 75% interest in Luansobe, via JV with Statunga dated 30 December 2021 30 Sep 2026 ↗
Licences: Small-Scale Mining Licences 34543/HQ/SML and 34545/HQ/SML
Legal stance: Company continues to maintain and protect its legal rights; supports local partner 30 Sep 2026 ↗
Settlement talks: Actively engaging with relevant parties on an amicable resolution; no timetable 30 Sep 2026 ↗
Next milestone: No date stated 30 Sep 2026 ↗

Next: Shareholders to be advised if amicable resolution reached