Mark Creasy-backed Galileo Mining gets thumbs up to list on the ASX
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Mark Creasy-backed Galileo Mining is gearing up to make its debut on the ASX on Tuesday after the bourse gave the cobalt and nickel explorer the green light.
Galileo (ASX:GAL) will light up the boards of the ASX tomorrow following a $15 million initial public offering.
British-born millionaire Mr Creasy will be the company’s biggest shareholder with a 31 per cent stake.
Mr Creasy has been credited with some of Western Australia’s biggest mineral discoveries, including the Nova-Bollinger nickel-copper-cobalt deposit, now owned by Independence Group (ASX:IGO), and the Jundee and Bronzewing gold finds.
He sold the Jundee and Bronzewing gold deposits in 1994 for A$130 million, and the Nova-Bollinger mine, which was owned by Sirius Resources – a company Mr Creasy had a major stake in – was bought by Independence for $1.8 billion in 2015.
It is no coincidence that Galileo happens to be exploring in the same region that the Nova-Bollinger discovery was made – the Fraser Range.
Galileo’s Fraser Range project covers two zones of the 400km long Fraser Range belt.
The company’s goal is to fast track exploration at its Fraser Range and Norseman projects following its debut.