Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on GALILEO RESOURCES PLC. We currently have 6 research reports from 3 professional analysts.
|15Feb17 07:00||RNS||Concordia Copper Project - Drilling Commencement|
|09Feb17 10:30||RNS||Holding(s) in Company|
|27Jan17 17:07||RNS||Issuance of Share Options|
|17Jan17 09:39||RNS||Concordia Copper Project Update|
|09Jan17 07:00||RNS||Silverton Project Update|
|20Dec16 14:43||RNS||Half-year Report|
|19Dec16 15:08||RNS||Change of Registered Office|
Frequency of research reports
Research reports on
GALILEO RESOURCES PLC
GALILEO RESOURCES PLC
08 Sep 16
"Equity markets globally remain in 'wait and see' mode. The overnight American and Asian markets all closed with just fractional, albeit mixed, movements as the US central bank's Beige Book, which based anecdotal feedback on economic activity collected during July and August from a dozen district banks, was seen to chant the same old lacklustre message. It noted the economy continued to expand at a modest pace and that contributors expected growth at a 'moderate' pace in the coming months, coming in tandem with a Fed Reserve report noting on Wednesday that a tight labor market and rising wages were not generating substantial inflation pressure. 'Steady as she goes' might be one interpretation, but 'clear as mud' might be another for Chair Janet Yellen who is expected to make an informed policy decision at the looming Federal Open Market Committee Meeting scheduled for 20th and 21st September. Betting right now, perhaps not surprisingly, is that rates will remain unchanged while expected data releases between now and the year-end a still expected to suggest opportunity for at least a 25bp hike, even if hawks like Jeffrey Lacker continue to bang the drum for earlier, decisive action. In the Far East, China provided the main talking point following its release of monthly export data, its traditional engine for growth, that showed a slide of 2.8% in US$-terms on last year following a 4.4% decline in July; a dull outcome, but still sufficient to beat the consensus expectations, which the Wall Street Journal polled as a 4% contraction. The ASX was the only market keen enough to make a decisive move in the region, as the commodity-led index continued to adjust to the hit on the US$ following disappointing ISM data earlier in the week, although oil futures were seen to extend gains during early morning trade following a report from the American Petroleum Institute that detailed a steep weekly draw on crude stockpiles in the US, bucking expectations of a rise and pushing prices back closer to the US$50/bbl level. Europe is in focus for macro releases this morning, with the ECB interest rate decision anticipated, along with a press conference from Mario Draghi. PM, Theresa May, is also due to meet Council President, Donald Tusk, today in London while Chancellor, Phillip Hammond, is presenting to a House of Lords Committee. Earnings figures are due form Deltex Medical (DEMG.L), Genus (GNS.L), Mattioli Woods (MTW.L) and Tower Resources (TRP.L), along with a trading statement from Dixons Carphone (DC..L). The FTSE-100 is seen opening around 8 points up this morning in relatively light volume." - Barry Gibb, Research Analyst
23 Aug 16
"Following three weeks of rising crude oil prices, traders' hopes for an OPECnegotiated production freeze, appear to have given way to returning concerns of a supply glut as reports of Iraq preparing to ramp up production are splashed across the media, while militants calling an end to hostilities could also see Nigeria rapidly return its lost capacity to the international markets. Meanwhile ahead of Fed Chair, Janet Yellen's, annual speech at the Jackson Hole symposium this Thursday, the US$ continued to weaken marginally versus the basket of major currencies. Against this background, the principal US indices continued their dull summer-long trend, with fractional movements only to close modestly mixed with energy stocks the main casualty permitting just the tech-heavy NASDAQ to put in a positive performance. This morning's trading in Asia was similar, as the Nikkei tracked back slightly on Yen strength, while the ASX was gently boosted again by gains in several of its key commodity plays; China's Shanghai Composite and Hang Seng finished quietly either side of unchanged. While London is unlikely to gain significant confidence from the overnight markets, equities are seen attempting to recover yesterday's losses with the FTSE-100 expected to open some 30 points up in early trading. Macroeconomic releases expected today include a UK Industrial Trends Survey from the CBI, the Eurozone's Composite PMI Index and, later this afternoon, the US PMI. Amongst corporates, earnings figures are due from Cape (CIU.L), Eurocell (ECEL.L), Hostelworld (HSW.L), Persimmon (PSN.L) and Rank Group (RNK.L).
16 Jun 16
"The FTSE-100 is seen opening quite sharply lower once again this morning (down around 65 points), as the markets tries to take all ramifications of a possible Brexit on board. Even the Fed's decision to leave short-term rates unchanged yesterday appears at least in part, to await the outcome of the June 23rd referendum as international markets try to gauge the potential shock to global activity. Beyond this, continuing sluggish US growth rates and its apparent inability to stimulate inflation, means that the central bank still lacks the confidence to raise the cost of borrowing, as a result of which early gains recorded across the principal indices turned back into modest losses during late trading. The US dollar fell to its lowest level since September 2014, mimicking the Euro which tumbled to its lowest since January 2013. By contrast, safe haven investors continued to drive the Yen higher after the BOJ's decision to stand still at its policy meeting, forcing Asian equities broadly down once again. Expect the Bank of England rate decision this morning along with MPC meeting minutes which will be followed by the Governor's Mansion House speech and may reflect on the Chancellor's suggested need to plan for an emergency Brexit budget. Retail sales figues are due from the US this afternoon, while various small and mid-cap corporates, like Poundland, WS Atkins, Darty, Mulberry, Premier Farnell, Purplebricks and Safestore are due to report.
Highly Prospective Gold and Copper in Nevada, USA
05 Aug 15
Galileo Resources plc is a resource development company specialising in the acquisition of projects which can be taken to production in the near-term. Last year it acquired a balanced portfolio of assets in the highly favourable mining jurisdiction of Nevada. Importantly, they were complemented by extensive exploration data packages resulting from work completed by different mining majors over the past several decades. Leveraging this information, Galileo management proposes to add considerable, but relatively low cost, value to these largely porphyry prospects, whose size, location and geology suggests they could be of interest to majors looking to commit to creation of significant long-term gold and copper mining projects.
20 Feb 17
Hayward Tyler Group* (HAYT): Trading update and financial position (CORP) | Petra Diamonds (PDL): Interim results (BUY) | Gemfields* (GEM): Interim results (CORP) | Premaitha Health* (NIPT): Middle East momentum (CORP) | Sound Energy (SOU): Acquisition update and TE-8 well spud (HOLD) | Proactis* (PHD): Interim trading on track (CORP) | 7digital* (7DIG): Automotive contract win (CORP)
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
Playing the long term, with short-term risks
16 Feb 17
After the publication of the annual results, we update our view and highlight the key points. Q4 16 key highlights As a reminder, the company reported results 30% below expectations at $400m for Q4 16. By division: 1) In upstream, underlying replacement costs profit came to $400m, vs. a loss a year earlier of $728m and a loss of $224m in Q3 16, reflecting the ongoing lower costs which have benefited from simplifications, efficiencies and lower exploration write-offs. In the US, the loss is still $147m. Production came in at 2.19mbpd, down 5.5% yoy due to disposals and up 1.8% on an underlying basis thanks to ramp-ups. One of the key events during the quarter was the renewal of BP’s onshore concession in the UAE with a 10% interest in the ADCO onshore oil concession. In terms of outlook, production should be higher in 2017 and will depend on the timing of project start-ups, acquisitions, divestments, and OPEC quota. Also the Abu Dhabi concession will be visible as from Q1 17. 2) In downstream, replacement costs profit came to $877m, down from $1.2bn a year ago and $1.4bn in Q3 16. The US division showed a loss of $371m vs a gain of $1.25bn. Non-US Fuel business earnings halved to $417m due to the weaker refining environment as well as the impact from the particularly large turnaround at the Whiting refinery. In lubricants, profit rose to $357m, reflecting the continued strong performance in its growth markets and premium brands as well as simplifications and greater efficiencies. The margin should remain unchanged for Q1 17. 3) Rosneft. Underlying replacement costs profit came to $135m, down from $235m a year ago, affected by the increased government take. Production was at 1.15mbpd, up from 1.03mbpd a year ago. This reflects the completion of the acquisition of Bashneft and Rosneft’s increased stake in the PetroMonagas venture. BP received a dividend of $322m after deduction of the withholding tax, in July 2016. On the Macondo oil spill, the charge taken for the Q4 16 pre-tax was $530m. This reflects BP’s latest estimates for claims including business economic loss. The pre-tax cash outflow on costs related to the oil spill for the full year 2016 was $7.1bn. Cash flow Excluding the Gulf of Mexico payment, the operating cash flow was $4.5bn. Underlying operating cash flow excluding the oil spill-related payment was $17.8bn for the full year. Proceeds during the year and the scrip dividend were not enough to cover capex and the cash dividend. Gearing at the end of the year increased to 27% ($35.5bn debt), in the high range of the group’s target of 20-30%. Organic capital was $16bn, below original guidance of $17bn to $19bn. Capex in 2017 should be close to $16-17bn. Divestment proceeds should be higher in 2017, close to $5bn and then reducing by $2-3bn per year after 2018. The total costs of the Deepwater payment should fall to $2bn in 2018 and then $1bn per year as from 2019. In 2017, this should be close to $5bn. All in all, including the latest acquisitions, cash flow break-even should be close to $60/bbl in 2017.
Small Cap Breakfast
16 Feb 17
Saffron Energy—Schedule One update. Raising £2.5m, expected Mkt Cap £7.7m. Admission due 24 Feb. Italian Oil & Gas Play Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science Company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management
GMP FirstEnergy ― UK Energy morning research package
17 Feb 17
Enquest (ENQ LN): Speculative Buy, £0.65: Kraken FPSO in the field and hooked up in the North Sea | Ithaca Energy (IAE LN/CN)6: BUY, £1.40: Stella First Hydrocarbons in the North Sea | Bowleven (BLVN LN) (not covered): Denies claims made by Crown Ocean Capital