Show Notes


Sale of 9 Kalahari Copper Belt Licences for US$3 million



to Sandfire Resources Ltd ("Sandfire") and



US$1.5 million subscription into Galileo by Sandfire



Galileo Resources plc ("Galileo" or the "Company") is pleased to announce that on 25 January 2021 it entered into two legally binding agreements with ASX listed Sandfire Resources Limited ( ASX:SFR) ("Sandfire").

Colin Bird Chairman & CEO said:


"This transaction with Sandfire represents a major step forward for Galileo in its Kalahari Copper Belt endeavours.


We are pleased to be working with Sandfire Resources, who are an Australian listed company and have an enviable track record of copper/gold discovery, development execution and operation. They have a commanding position in the Kalahari Copper Belt and hence we feel that this arrangement will benefit both parties to further enhance their positions. The transaction allows Sandfire to explore the Included Licences, which are in close proximity to their major mine build, and also allows Galileo to carry out exploration on the Excluded Licences.


We look forward to implementing the transaction and working alongside Sandfire in a region, where in my opinion, discovery and mine build has only just started."

https://www.share-talk.com/colin-bird-chairman-ceo-of-galileo-resources-glr-l-sale-of-9-licences-for-us3m-interview/


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