Galileo Mining (GAL) Q2 2025 TU earnings summary

Executive summary

• Maintained strong funding with $11.3 million in cash as of 31 December 2024, supporting ongoing exploration programs.

• Completed 5,300m of aircore drilling at Mission Sill, identifying thick zones of anomalous platinum group elements (PGE).

• Advanced lithium exploration through a joint venture with Mineral Resources, with mapping and sampling of pegmatite outcrops.

• Fraser Range JV completed EM data review, with new drill targets identified and testing scheduled for Q2 2025.

Financial highlights

• Cash position at quarter-end was $11.3 million, ensuring capacity for significant exploration.

• Exploration and evaluation expenditure for the quarter totaled $662,000.

• No substantive mining production or development activities during the quarter.

• Payments to related parties totaled $211,000 for the quarter.

Outlook and guidance

• Follow-up and infill drilling at Mission Sill planned for late February 2025, with further drilling along the 12km trend.

• Detailed 1m split sampling results from recent drilling expected to inform next exploration steps.

• Fraser Range JV drill testing scheduled for Q2 2025, targeting new undercover prospects.

• MinRes JV to continue lithium exploration, with potential for increased stake based on future expenditure.