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Galileo Mining Ltd (ASX:GAL)

ALERT: Price-sensitive ASX Announcement for GAL
Current share price for GAL : $0.110 -0.01 (-8.33%)+
Announcement
Release
28 Jul 2026 8:31AM
Price at Release
$0.120
Full Release
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Summary
The quarterly cash flow report for Galileo Mining Ltd for the quarter ending 30 June 2026 indicates a modest cash flow from operating activities, with interest received and government grants contributing positively. The company incurred significant expenses in exploration and evaluation, resulting in a negative cash flow from investing activities. Financing activities also resulted in a cash outflow due to lease payments. The company started the quarter with $8,217,000 in cash and equivalents, ending with $7,476,000. The report highlights the company's focus on managing cash flow amidst ongoing exploration efforts, and it estimates that the available funding can support operations for about 10.3 quarters.
Key Points
  • Cash flows from operating activities resulted in a net gain of $5,000 for the quarter.
  • Significant investment in exploration and evaluation with a spending of $730,000.
  • Negative cash flow from investing activities totaling $730,000.
  • Financing activities saw a cash outflow of $16,000 due to lease payments.
  • The company held $7,476,000 in cash and cash equivalents at the end of the quarter.
  • Current funding estimated to support operations for approximately 10.3 quarters.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.