More good news coming?, page-6

At present, IGO and Mark Creasy’s combined ownership of GAL is 35.9%.

After hitting a peak of $2 per share, GAL’s share price has now settled at ~88c, even as GAL continues to expand the size and scale of its discovery.

This isn't completely unexpected — generally when a new discovery is made demand for a company’s stock increases and the share price re-rates quickly.

Once the company raises a large amount of capital (just like GAL did) and goes into the resource “definition” stage where it is running drill program after drill program, the supply-demand situation for shares changes.

The market can get impatient, and those who participated in the raise or bought into the rally post-discovery look to sell for no other reason other than the initial euphoria has subsided.

This is where the opportunity presents itself for longer-term investors who are following the company more closely and are monitoring whether the company is making positive progress with its project.

Today GAL reported a 1.58% nickel, 0.93% copper and 3.32g/t PGE assay result.

This is the highest grade nickel intercepts we have seen from GAL’s Callisto discovery to date and it shows that nickel, copper and palladium grades are increasing as GAL drills at depth to the east.

GAL still has over 20 assays pending (the purple lines in the 3D model), meaning there’ll be a lot more news to come from the drilling being done over the new year period and through January.

With an RC and a diamond drill rig active on-site, GAL is currently:

1. Drilling to the east chasing deeper, higher grade mineralisation.
2. Drilling to the west of its PGE discovery, chasing shallower mineralisation.
3. Preparing to drill to the north of its nickel sulphide discovery targeting ~5km of prospective strike along a distinct geophysical anomaly.

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