Despite base metal prices continuing their slide amid the US Federal Reserve reaffirming its hawkish outlook, shares in Galileo Mining (ASX:GAL) have more than tripled this year and today saw more of the same with a jump of 4.9 per cent, bucking the trend as the ASX tumbled almost 2 per cent.
Investors continue to pile into the cobalt and nickel explorer after learning that WA mining entrepreneur Mark Creasy increased its stake in the junior miner to 26.3 per cent from 24.6 per cent via his investment vehicle, Yandal Pty Ltd, according to a regulatory filing on Monday.
This comes after Mr Creasy exercised all 100 per cent of his unlisted options in fertiliser company Australian Potash (ASX:APC) on 21 April this year, making him the sulphate of potash player’s largest shareholder.
Described as the man with the “midas touch”, the mining entrepreneur has a knack in discovering prospective mining companies. So goes Creasy, so goes the miners.
To drill deeper into what these explorers are all about, Galileo Mining’s (ASX:GAL) chairman and managing director Brad Underwood, along with Australian Potash’s (ASX:APC) managing director and chief executive officer Matt Shackleton, will be presenting at 12.30pm tomorrow at Sharecafe’s webinar. Register via the link here for your free online spot.
Shares in Galileo Mining (ASX:GAL) are trading 9.7 per cent higher to $1.01 while Australian Potash (ASX:APC) is up 1.6 per cent to 6.3 cents.