Galileo Mining (GAL) H2 2025 earnings summary

Executive summary

• FY2025 focused on advancing the Norseman Project, targeting Platinum Group Elements (PGE) with systematic drilling and resource expansion efforts.

• The company maintains a strong financial position with $9.74 million in cash at year-end, supporting ongoing exploration.

• Extended the Lithium Farm-in JV with Mineral Resources, providing additional funding and exploration runway.

Financial highlights

• Net loss of $1,160,880 for FY2025, compared to a profit of $3,374,077 in FY2024.

• Cash on hand at 30 June 2025 was $9,736,051, down from $13,617,755 at prior year-end.

• Net assets totaled $46,993,637, a slight decrease from $47,396,767 year-over-year.

• No dividends declared or paid during the year.

• Share-based payment expense for the year was $757,750.

Outlook and guidance

• Ongoing exploration at Norseman and Fraser Range, with further drilling planned at Mission Sill and Callisto.

• Anticipates additional discoveries at Norseman, leveraging strong cash reserves and government co-funding.

• JV with Mineral Resources provides up to $15 million in additional exploration funding through 2030.