December quarterly report update

Our long term exploration Investment Galileo Mining (ASX: GAL) just put out its December quarterly report.

Usually the quarterly report is just a summary of the work a company has completed during the quarter - meaning there is generally no NEW news to read up on outside of the company’s latest cash balance.

GAL ended the December quarter with $20.1M in cash, but ALSO put out the following updates:

1) Calisto PGE project -

GAL said that drilling had restarted in mid-January and that assays were pending for ~15 RC/diamond drillholes.

GAL also confirmed that the company was completing metallurgical testing alongside its current round of drilling.

Together, these two updates mean we have a lot to look forward to in the coming weeks.

2) Fraser Range projects -

GAL is also running EM surveys looking to firm up future drill targets.

While the current focus is on the company’s PGE project in the Norseman project, we still think GAL’s Fraser Range projects are worth watching.

We think the potential for upside from the Fraser Range projects is not fully appreciated by the market and could re-rate GAL’s share price further.

To see what we are watching for from GAL check out our most recent note here: What’s next for GAL?