Galileo Mining (GAL) H1 2026 earnings summary

Executive summary

• Net loss for the half-year ended 31 December 2025 was $127,627, a significant improvement from a $638,584 loss in the prior year period.

• Cash position remained strong at $9.1 million, supporting ongoing exploration activities.

• Main focus was systematic exploration at the Norseman Project, with additional technical work at the Fraser Range Project.

Financial highlights

• Other income rose to $1,226,677 from $295,994 year-over-year, mainly due to a $1 million payment from the Norseman Lithium JV.

• Exploration and evaluation expenditure increased, with $1,558,875 spent in the half-year.

• Net assets increased to $47,638,940 from $46,993,637 as of 30 June 2025.

• Basic and diluted loss per share improved to (0.06) cents from (0.32) cents year-over-year.

Outlook and guidance

• Strong cash reserves position the group to continue systematic exploration and drilling programs into 2026.

• Gravity survey and diamond drilling at Norseman are expected to refine targets and potentially expand resources.

• Final $1.5 million payment under the Norseman Lithium JV is due within two years, providing future funding.