Announcement • Nov 09
Galena Mining Limited Announces Retirement of Alex Molyneux as a Non-Executive Director GALENA MINING LTD. announced Mr. Alex Molyneux, has decided not to stand for re-election and retire as a Non-Executive Director at the Company's Annual General Meeting to be held on 22 November 2023. Mr. Molyneux was a key element of the Company's leadership team during Galena's evolution into a base metal producer, contributing to the achievement of significant milestones during the period he served in a leadership role and board member. Announcement • Oct 02
Galena Mining Limited, Annual General Meeting, Nov 22, 2023 Galena Mining Limited, Annual General Meeting, Nov 22, 2023. Reported Earnings • Aug 24
Full year 2023 earnings released: AU$0.10 loss per share (vs AU$0.014 loss in FY 2022) Full year 2023 results: AU$0.10 loss per share (further deteriorated from AU$0.014 loss in FY 2022). Revenue: AU$29.5m (up AU$29.3m from FY 2022). Net loss: AU$38.2m (loss widened 458% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. New Risk • Jun 23
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 58% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$152m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 24% per year over the past 5 years. Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Revenue is less than US$1m (AU$466k revenue, or US$312k). Minor Risk Market cap is less than US$100m (AU$86.5m market cap, or US$57.9m). Announcement • Jun 19
Galena Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 20 million. Galena Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 20 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 92,885,303
Price\Range: AUD 0.15
Discount Per Security: AUD 0.009
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 40,448,031
Price\Range: AUD 0.15
Discount Per Security: AUD 0.009
Transaction Features: Subsequent Direct Listing Reported Earnings • Feb 23
First half 2023 earnings released: AU$0.01 loss per share (vs AU$0.005 loss in 1H 2022) First half 2023 results: AU$0.01 loss per share (further deteriorated from AU$0.005 loss in 1H 2022). Net loss: AU$4.27m (loss widened 106% from 1H 2022). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Feb 09
Galena Mining Limited Announces Drilling Hits Northern Extension of Abra Mineralisation Galena Mining Limited announced assay results from the first exploration holes drilled from underground at the Abra Mine have been received. The holes were drilled in Fourth Quarter 2022 as dual-purpose holes for both exploration (previously identified target) and geotechnical evaluation (underground development planning). Assays associated with these holes have been received after the release of the December quarter activities report. Prior to these holes, underground drilling has been focused on grade control and resource conversion to support Abra mine production planning for 2023. A total of 122 underground drill holes have been completed in 2022 and the company is currently updating the geology and mining models in the areas where this drilling has occurred. Results and geological confidence associated with the drilling completed to date is considered positive in relation to the previous work. The Abra mine successfully achieved its first concentrate production on 12 January 2023. Over 1,000t of saleable concentrate has been produced during plant commissioning to date and the project remains on target to achieve first concentrate shipment in Q1, 2023. Two new drillholes (22AUD0159 and 0160) were drilled in October 2022, adjacent to a historical intercept drilled by Abra Mining Limited in 2007 (AB41). The new holes confirm the presence of Abra style mineralisation north of the Abra fault. Including the historical hole, the three holes are spread over an area of 300m (east-west) and 100m (north-south). They are approximately 200m from the current Abra Deposit and 100m from the proposed Abra decline infrastructure. Announcement • Jan 11
Galena Mining Limited Announces Change of Company Secretary Galena Mining Limited announced the appointment of Miss Aida Tabakovic from Mining Corporate Pty Ltd. as the Company Secretary effective immediately. Miss Tabakovic will be responsible for communication with the ASX in relation to Listing Rule matters in accordance with ASX Listing Rule 12.6. Miss Tabakovic has over 11 years' experience in the accounting profession. Miss Tabakovic provides services to a number of ASX listed companies specialising in financial accounting and reporting and corporate compliance. Miss Tabakovic has been involved in listing a number of junior exploration companies on the ASX and is currently Company Secretary for numerous ASX listed companies. Miss Tabakovic has been providing assistant Company Secretarial duties for Galena since 2016 and replaces Mr. Stephen Brockhurst as the Company Secretary who resigns due to other work commitments through Mining Corporate Pty Ltd. Recent Insider Transactions • Dec 19
Non Executive Director recently bought AU$93k worth of stock On the 15th of December, Alexander Alan Molyneux bought around 395k shares on-market at roughly AU$0.23 per share. This transaction amounted to 3.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$197k more in shares than they have sold in the last 12 months. Announcement • Dec 14
Galena Mining Limited Announces Construction Progress At Its Abra Base Metals Mine GALENA MINING LTD. announced that the construction progress at its Abra Base Metals Mine ("Abra" or the "Project") has reached 97% complete as of 30 November 2022. Processing plant commissioning is progressing quickly with practical completion now expected in December 2022. Ore currently being mined from underground is being stockpiled in readiness for processing to begin in January 2023. Concentrate production will commence January 2023. Update on Abra Project progress: Overall progress continues as planned, with first concentrate production expected in First Quarter CY2023, following ore commissioning in January 2023. Practical completion of the processing plant is now expected ahead of schedule in December 2022. The processing plant engineering, procurement and construction has reached 99% complete. Piping and electrical works have made significant progress and at the end of November were 96% and 92% complete, respectively. Mechanical items installation is almost complete at 99%. In November, the first material was crushed and screened as part of the staged commissioning process. The crushing plant ran at design capacity and all commissioning milestones were successfully achieved. Dry commissioning also progressed in most areas of the plant including water and air services, tailings and concentrate thickening, grinding and reagents. Dry commissioning of the remaining areas will be completed in December. Water commissioning commenced in the tailings and concentrate thickening areas of the plant and the remaining areas are expected to be wet commissioned by the end of December. Underground development continued during November with a new record of 462m being achieved over the month. Development was focussed on the 1290mRL mine services area and the mining of the first 60m of ore drives. A total of 9,000t of ore has been stockpiled on the ROM pad in preparation for ore commissioning and start-up in January 2023. The decline has reached 1,276mRL which is 274m below the surface and 37m below the original top of the orebody (1313mRL). Underground drilling has continued to consolidate the mining areas planned and has confirmed mineralisation up to 1330mRL. During December several ore drives will commence on the 1285 and 1300mRL levels which is expected to deliver the required ore for plant commissioning in January. Grade control and infill diamond drilling continued during November and 34 new holes were completed for a total of 4,338m. To date, 16,243m of underground drilling has been completed. Assays received in November continue to build on the confidence in the geological interpretation of what is an extremely exciting and technically interesting mineralised system. Work continues on the evaluation of the results and mine plans and designs are being continually reviewed as part of the mining execution plans. Announcement • Nov 18
Galena Mining Ltd. Announces Construction Progress At Abra Base Metals Mine GALENA MINING LTD. announced that the construction progress at its Abra Base Metals Mine ("Abra" or the "Project") has reached 92% complete as of 31 October 2022. Underground mine has reached the first ore and plant commissioning continues in several key areas with the project focussed on achieving first concentrate production in First Quarter 2023. Overall progress continues to remain in line for Project completion, with first commercial production expected in First Quarter CY2023. The processing plant engineering, procurement and construction has reached 97% complete. Structural steel has been completed in October and mechanical installations are at 96% complete. Piping at 80% and electrical at 71% complete continue to progress quickly. Pacific Energy's Hybrid 10MW LNG/solar power station completed full integration with the solar power supply, dry commissioning of the crushing and screening areas was completed in early November and first rock crushing is scheduled for late November. Grinding section dry and wet commissioning will commence in the second half of November and is planned for completion by mid-December. Mine decline development continued during October. A total of 311m was developed with the decline reaching 1,284mRL. October represents the highest individual development month since the first cut was fired in the portal in October 2021. The decline location is 266m vertically below the surface and is 29m vertically below the original top of the orebody (1313mRL). Underground drilling has now identified mineralisation as high as 1330mRL which is currently being reviewed for potential extraction. The 1300mRL ore access drive reached first ore in early November. The 1290mRL horizon is a significant work area for development as underground infrastructure for pumping, ventilation, second means of egress and power are all distributed from this level outwards into the development network. All this infrastructure is currently being established and will result in an increased focus on lateral development and lower decline development in the short term. Grade control and infill diamond drilling continued during October and 24 new holes were completed for a total of 3,629m. Underground drilling completed to date is 11,905m. Assays received in October continue to consolidate the confidence in the previous geological interpretation determined from all underground and surface drilling. Work continues with the evaluation of the results and mine plans and designs are being continually reviewed and optimised for execution. Announcement • Nov 14
Galena Mining Ltd. Announces Update on Abra Mine GALENA MINING LTD. announced that the underground development at its Abra Base Metals Mine has reached the Abra orebody. Commissioning has commenced in several key areas of the processing facility and the Power Station (Pacific Energy) completed full integration of the hybrid gas/solar/battery energy storage system (BESS) power station on 10 November. The project remains on track for first concentrate production in First Quarter 2023. First ore heading underground has been reached on the 1300mRL access drive. Project to date (PTD) underground development to this point in time was 2,949m and first ore is 250m below the surface. The second underground development Jumbo has commenced at Abra in line with multiple headings being established and underground development is expected to increase accordingly. Underground grade control drilling continues and the 6m diameter return airway shaft drilling has been completed in November through to the surface. On 20 October, the site changed over to mains power station with the commissioning of the Pacific Energy hybrid 10MW gas/solar/BESS power station. On the 10 November the system was fully integrated with the successful integration of the 6MW solar panels. The mine and general site infrastructure is running on mains power and plant commissioning to date includes the energisation of the crushing/screening sections. Announcement • Oct 17
Galena Mining Ltd. Announces Construction Progress at its Abra Base Metals Mine Reaches 87% Complete as of 30 September 2022 GALENA MINING LTD. announced that the construction progress at its Abra Base Metals Mine has reached 87% complete as of 30 September 2022. Commissioning has commenced in several key areas with the project remaining on track for first concentrate production in First Quarter 2023. Update on Abra Project progress; Overall progress continues to remain in line for Project completion, with first commercial production expected in First Quarter CY2023. The processing plant engineering, procurement and construction has reached 93% complete. Structural steel has reached 98% complete and mechanical installations are at 73%. Piping at 48% and electrical at 36% complete continue as active work programs. With commissioning of the Pacific Energy Hybrid 10MW LNG/Solar power station nearing completion, dry commissioning of the Crushing and Screening areas in the processing plant can commence in the second half of October. Underground mine power changeover from generator sets to site power will alco occur. The commissioning schedule has been finalised for the processing plant. Mine decline development continued in the East Decline during September. A total of 285m was developed with the decline reaching 1,300mRL. September represents the highest individual development month since the first cut was fired in the portal in October 2021. The decline location is 250m vertically below the surface and is 13m vertically below the top of the orebody. The decline is approximately 75m laterally from the ore body and the first ore body access drive has commenced. Grade control and infill diamond drilling continued during September with the introduction of a second underground drill. During September, 19 new holes were completed (2,914m). Assays for three drill holes were received in September with an additional two batches received in early October. The drilling results seen to date align with the information associated with the original surface drilling and some new mineralised areas have also been identified. In surface bulk earthworks, good progress continued with the tailing's storage facility earthworks and lining is now effectively complete. The site power station is also effectively complete with commissioning progressing well with target site energisation in the second half of October. The first LNG gas delivery occurred in the second week of October. Total Project construction capital expenditure remains within budget. The key remaining focus is completion of the processing facility and the underground development of the mine. These two areas account for $19.2 Million of the remaining Project construction spend forecast of $30.6 Million and are on schedule to commence commissioning this year, with first concentrate production as planned in Q1, 2023. Announcement • Sep 28
Galena Mining Limited, Annual General Meeting, Nov 15, 2022 Galena Mining Limited, Annual General Meeting, Nov 15, 2022. Announcement • Sep 21
Galena Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 17.15 million. Galena Mining Limited has completed a Follow-on Equity Offering in the amount of AUD 17.15 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 71,400,000
Price\Range: AUD 0.125
Discount Per Security: AUD 0.0075
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 65,800,000
Price\Range: AUD 0.125
Discount Per Security: AUD 0.0075
Transaction Features: Subsequent Direct Listing Reported Earnings • Aug 25
Full year 2022 earnings released Full year 2022 results: Net loss: AU$6.84m (loss widened 93% from FY 2021). Announcement • Jul 21
Galena Mining Limited Provides Production Guidance for the Current Year 2023 Galena Mining Limited provided production guidance for the current year 2023. For the year, the company expects Lead Metal Production 53-68 ktpa. Silver Metal Production of 325-425 kozpa. Announcement • Jul 18
Galena Mining Ltd. Announces Construction Progress at Abra Base Metals Mine Galena Mining Limited Announced that the construction progress at its Abra Base Metals Mine has reached 73% complete as of 30 June 2022. Significant equipment arrivals over the last month include the remaining mill equipment, secondary and tertiary cone crushers, and the remainingLNG tanks. The completion of the installation of 16,000 solar panels also delivers another significant construction milestone. Update on Abra Project progress: Overall progress continues to remain in line for Project completion followed by first commercial production in First quarter of current year 2023. The processing plant engineering, procurement and construction has reached 79% complete. Remaining items on the key equipment order list shown in Table 1 which are currently not received are the flotation cells and the regrind mill. The flotation cells are completed and are waiting shipping from China and the regrind mill is currently shipping from Germany and is expected in Melbourne by 12th August. The regrind mill is being shipped to Melbourne so that Glencore Technology can finalise assembly with some Australian components. The arrival of key items since the last update has enabled GR Engineering to consolidate their remaining work schedules and plans. Mine decline development was delayed in June for 12 days when the west decline intercepted an un-grouted diamond drill hole forcing an upgrade in the mine dewatering capacity. A total of 128m was developed prior to the delay, taking the west decline down to 1,357mRL which is 44m vertically above the orebody. During the delay the mine installed its primary ventilation fan on the surface and upgraded the underground power reticulation. Once this work was completed, the hole was plugged, and mining resumed. A revised mining plan has been completed and put in place to ensure that following this development delay, mining targets remain in line with the plant completion and commissioning timeframe. In surface bulk earthworks, good progress was made on the tailing's storage facility during June. The final works package associated with the remaining non-processing infrastructure is progressing as planned. Announcement • Jun 16
Galena Mining Limited Announces the Construction Progress At its Abra Base Metals Mine Has Reached 67% Complete as At 31 May 2022 Galena Mining Limited announced that the construction progress at its Abra Base Metals Mine ("Abra" or the "Project") has reached 67% complete as at 31 May 2022. Construction achievements during the month include setting up to commence underground drilling and significant progress with solar farm installation and the remaining surface infrastructure. Update on Abra Project progress: Overall progress continues to remain in line with the project schedule for the production critical areas of mining and processing. The processing plant engineering, procurement and construction has reached 72% complete by project spend. Underground mine development has reached the 1,368mRL, which is 182m below the surface and only 55m above the orebody. Total underground development achieved in May was 172m. The lower progress in underground development during May is offset by earlier achievements being ahead of schedule. Overall underground development remains on plan as at the end of May. During May the second leg of the primary ventilation shaft (6m diameter raise drill hole) was drilled between the 1,400mRL and the 1,467mRL. The installation of the primary vent fan on the surface is now planned to be completed in June, which will enable the secondary fans to be moved down from the surface box-cut. Mono pumps have been installed at the 1,390mRL level to assist with water and pumping management. Underground drilling has commenced in early June, which will provide detailed grade control information well ahead of ore production. In surface bulk earthworks, the work for the building of the tailing's storage facility ("TSF") has been awarded and the contractor has commenced mobilisation to site. TSF wall construction has commenced in early June. The final works package associated with the remaining non-processing infrastructure is progressing quickly. This work is not production critical, although it is expected to be completed well in advance of commissioning. This includes the remaining buildings and the drill-core processing and storage facility. Owners' costs and contingencies remain under budget. Abra has been advised of revised delivery times for some of the overseas equipment supply for the processing plant. As is the nature of international shipping, delivery dates continue to be revised. None of these delivery time changes are expected to cause any overall construction schedule delays at this stage. Based on the latest information the cone crushers, grinding package lot 3A and lot 4 have revised arrival dates. Lot 3A has departed Singapore and is due in Fremantle on the 16 June. Lot 3B which contains the mill heads, shells and liners is still located in the Shanghai port and is scheduled to leave Shanghai on the 16th June in a Breakbulk vessel which is sailing directly to Australia and is expected to be in Fremantle by the 11 July. GR Engineering continues to work on the timing of the remaining equipment deliveries and update their work schedules and plans. The mill installation had a 3-month timeframe buffer in the original schedule, which is why the current delivery adjustments are not causing potential construction delay concerns relating to the grinding section of the plant. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Non Executive Director Stewart Howe was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jan 19
Galena Mining Limited Announces Construction Progress At Its Abra Base Metals Mine Galena Mining Limited announced that the construction progress at its Abra Base Metals Mine has reached 39% complete on 31 December 2021. Construction milestones achieved during the month include: Completion and commissioning of mines new airstrip; Manufacture completion of primary jaw crusher. Recent Insider Transactions • Dec 24
MD, CEO & Director recently bought AU$51k worth of stock On the 20th of December, Anthony James bought around 250k shares on-market at roughly AU$0.20 per share. This was the largest purchase by an insider in the last 3 months. This was Anthony's only on-market trade for the last 12 months. Board Change • Sep 03
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non Executive Director Stewart Howe was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 27
Full year 2021 earnings released: AU$0.008 loss per share (vs AU$0.016 loss in FY 2020) Full year 2021 results: Net loss: AU$3.55m (loss narrowed 41% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • Jun 30
Independent Non-Executive Director exercised options to buy AU$576k worth of stock. On the 29th of June, Jonathan Downes exercised options to buy 2m shares at a strike price of around AU$0.08, costing a total of AU$196k. This transaction amounted to 20% of their direct individual holding at the time of the trade. Since June 2020, Jonathan has owned 13.16m shares directly. Company insiders have collectively bought AU$467k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Jun 30
Independent Non-Executive Director recently sold AU$200k worth of stock On the 23rd of June, Jonathan Downes sold around 1m shares on-market at roughly AU$0.20 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$400k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Jun 18
MD, CEO & Director exercised options to buy AU$613k worth of stock. On the 17th of June, Alexander Alan Molyneux exercised options to buy 3m shares at a strike price of around AU$0.19, costing a total of AU$484k. This transaction amounted to 48% of their direct individual holding at the time of the trade. Since June 2020, Alexander Alan's direct individual holding has increased from 3.70m shares to 5.20m. This was the only transaction from an insider over the last 12 months. Announcement • Apr 29
Galena Mining Limited Achieves 2020 Drilling Objectives At Abra - Updates Mre Galena Mining Limited announced achievement of the key objectives from the 2020 Abra Drilling Program and has subsequently completed an updated JORC Code 2012 Mineral Resource estimate ("April 2021 Resource") for the Abra Base Metals Project located in the Gascoyne region of Western Australia. The April 2021 Resource has been independently prepared by Optiro Pty Ltd. ("Optiro"). The completed 2020 Abra Drilling program included 57 drill-holes totalling 24,834 cumulative linear meters and was designed to achieve three specific objectives. These objectives were mainly focussed on the original Mineral Resource estimate and potential grade and continuity risk of certain areas within that estimate, and they were: Lead-silver orebody infill drilling Some infill drilling that had previously been planned to take place from underground once the decline was in place was pulled forward into the 2020 Abra Drilling Program. This aimed to further tighten the drill-hole spacing over the first four years of proposed production to 20 by 20 metres and up to 30 by 30 metres or better, compared with a more variable drilling density of up to 40 by 40 metres and up to 60 by 60 metres in that area previously; (ii) Drilling into selected lead-silver `metal rich' zones Some drill-holes successfully targeted selected areas within the Abra lead-silver mineralisation where higher concentrations of metal (in both grade and thickness) were projected from previous drilling campaigns, in particular drill-hole AB147, which became the best high-grade lead-silver drill-hole ever at Abra, and the follow-up drill-holes that were added to the program in its vicinity; (iii) Gold-copper exploration Some of the drilling, in particular drill-hole AB195 successfully targeted the newly interpreted gold and copper drilling targets to the south and south east of the lead-silver mineralisation and at depth. The first two of these objectives enable the Company to optimise mine planning, which is now underway. Announcement • Feb 25
Galena Mining Limited Announces the Fifth and Final Batch of Assay Results from the Now Completed 2020 Abra Drilling Program at the Abra Base Metals Project GALENA MINING LTD. announced the fifth and final batch of assay results from the now completed 2020 Abra Drilling Program at the Abra Base Metals Project. This announcement concludes the release of all assay results for the 57 drill-holes successfully completed during the 2020 Abra Drilling Program. This release includes assays from 22 drill-holes (AB176, AB177, AB180W1 to AB194, and AB196 to AB200A). The assay results for the first 35 drill-holes (AB144 to AB175, and AB178 to AB179, and AB195) were announced on 19 October 2020, 18 November 2020, 22 January 2021 and 22 February 2021. The program was initially planned to consist of approximately 15,000 metres to 18,000 metres of drilling, with three objectives: lead-silver orebody infill; drilling into selected prospective `metal rich' zones for potential life of mine plan optimisation; and gold-copper exploration. However, drill-hole AB147 (reported on 19 October 2020) encountered 86.1 metres of combined down-hole cumulative thickness of significant intersections and was considered to be the best high-grade lead-silver drill-hole in Abra's history. AB147 was successful in confiriming a `metal rich' zone not currently in the early years of the mine plan used for the Feasibility Study, in this case a relatively shallow zone on the northeastern limb of the Indicated portion of Abra's Mineral Resource. An additional 16 drill-holes were added to the 2020 Abra Drilling Program in the area around AB147 with the aim to define the zone with 30 metre by 30 metre and better drill-hole spacing to enable its inclusion in detailed mine planning for the early years of an updated mine plan. The added drill-holes cover an area approximately 100 metres (north-south) by 200 metres (east-west), extending outside of the Indicated Resource area modelled for the Apron Zones 101 and 102 lode in the October 2019 Resource, into the Inferred area between the two northern limbs of the Indicated Resource boundary. Of the sixteen drill-holes added to the drilling program, the assay results for nine are being reported in this ASX announcement (AB177, AB183A, AB185, AB187A, AB190, AB193, AB194, AB198 and AB199). These holes continued to show strong cumulative down-hole thicknesses of significant lead-silver intersections as has been observed in prior holes reported in the vicinity. Drill-holes AB183A and AB177 respectively encountered 50.1 metres and 46.9 metres of combined down-hole cumulative thickness of significant intersections. Towards the end of the 2020 Abra Drilling Program, two drill-holes being reported in this announcement (AB200A and AB192) were drilled to target another potential metal rich zone towards the south and on the eastern margin of the deposit. These drill-holes were highly successful, with some of the strongest cumulative down-hole thicknesses of significant lead-silver intersections observed to date at Abra. Drill-holes AB200A and AB192 respectively encountered 103.0 metres and 55.2 metres of combined down-hole cumulative thickness of significant intersections. Galena considers the 2020 Abra Drilling Program highly successful in comparison to the Abra October 2019 Resource. 26 of the 57 drill-holes exceeded grade and thickness expectations,17 drill-holes met and only 14 drill-holes fell below expectations, some only marginally so. Furthermore, eight of the 57 drill-holes showed cumulative down-hole significant lead-silver intersections in excess of 50 metres, more than any prior program at Abra. These included drill-hole AB147, the best high-grade lead-silver drill-hole in Abra's history in terms of cumulative thickness and grade. Is New 90 Day High Low • Feb 23
New 90-day high: AU$0.39 The company is up 54% from its price of AU$0.25 on 25 November 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 21% over the same period. Announcement • Feb 22
Galena Mining Ltd Announces the Outstanding Result from Drill-Hole AB195 Drilled as Part of the Recently Completed 2020 Abra Drilling Program GALENA MINING LTD announced the outstanding result from drill-hole AB195, drilled as part of the recently completed 2020 Abra Drilling Program and as the first ever hole drilled specifically targetting the interpreted copper- gold zone at the Abra Base Metals Project ("Abra" or the "Project"). Drill-hole AB195, was drilled as part of the 2020 Abra Drilling Program, which concluded in late-December with 57 diamond core drill-holes being successfully completed for 24,832 cumulative linear metres. It's the first ever drill-hole at Abra drilled to specifically target the interpreted zone of gold and copper mineralisation lying immediately adjacent to and underneath the heavily explored lead and silver mineralised zones. AB195 was an outstanding success, intersecting 3.0 metres at 4.2g/t gold and 1.1% copper from 670.7 metres, 2.0 metres at 6.9% copper from 698.1 metres, and 26.9 metres at 1.4% copper from 763.8 metres, including 8.9 metres at 2.3% copper from 773.0m . Prior to intersecting the copper-gold zone, drill-hole AB195 passed through the Abra lead- silver zones, with the following significant intersections: 8.0 metres at 8.0% lead and 17g/t silver from 406.8 metres. 5.5 metres at 12.1% lead and 12g/t silver from 541.3 metres and 11.3 metres at 6.6% lead and 10g/t silver from 559.8 metres. The success of AB195 is borne out by the fact the significant copper and gold mineralization was intersected where potential for gold-copper channels were interpreted to be, based on a major geological and geophysical interpretation exercise carried out by the Company in 2020. Furthermore, grade and thickness parameters from sub-sections within the broarder intersection (ie, 8.9 metres at 2.3% copper) line up favourably in value terms with the lead-silver reserve grades. The wider significant copper intersection in drill-hole AB195 occurred within a 45 metre zone of visual intermittent massive and disseminated copper-bearing chalcopyrite mineralization from a down-hole depth of 752 metres. Announcement • Jan 22
Galena Mining Ltd. Announces Abra Base Metals Project Drilling Results Galena Mining Limited Announced the third batch of assay results from the now completed 2020 Abra Drilling Program at Abra Base Metals Project ("Abra" or the "Project"). The 2020 Abra Drilling Program concluded in late-December with 57 diamond core drill-holes being successfully completed for 24,832 cumulative linear metres. Total completed drilling at the Project is now approximately 100.5km, of which more than two-thirds has been completed under Galena ownership since late-2017. This release includes assays from 18 drill-holes (AB159, AB160, AB162 to AB175, AB178 and AB179. The program was initially planned to consist of approximately 15,000 metres to 18,000 metres of drilling, with three objectives: lead-silver orebody infill; drilling into selected prospective `metal rich' zones for potential life of mine plan optimisation; and gold-copper exploration. However, drill-hole AB147 encountered 86.1 metres of combined down-hole cumulative thickness of significant intersections and was considered to be the best high-grade lead-silver drill-hole in Abra's history. Importantly, AB147 was targeting a prospective `metal rich' zone not currently in the early years of the mine plan used for the Feasibility Study, in this case a relatively shallow zone on the northeastern limb of the Indicated portion of Abra's Mineral Resource. AB147 indicated the existence of a potentially mineable domain approximately 30 metres closer to the surface than the shallowest currently planned mining zone. The relative shallowness of this area and proximity to early decline development makes it a target for optimisation of the early years of the mine plan and potentially improves risk in that period. Based on the success of drill-hole AB147 and then subsequent follow-up success of drill-holes added to the Program around it, an additional 16 drill-holes were added to the 2020 Abra Drilling Program in that area. The added drill-holes cover an area approximately 100 metres (north-south) by 200 metres (east-west), extending outside of the Indicated Resource area modelled for the Apron Zones 101 and 102 lode in the October 2019 Resource, into the Inferred area between the two northern limbs of the Indicated Resource boundary. All of them showed significant lead-silver intersections, with four of them encountering cumulative significant intersections in excess of 50 metres. Drill-hole AB159 being reported in this announcement was another hole added to the Program, following up on drill-hole AB151, which was considered the best ever drill-hole in Abra's north western quadrant on a cumulative grade and thickness basis (31.2 metres of cumulative significant intersections, including a 27.4 metre intersection at 16.3% lead and 73g/t silver). AB159 succeeded in extending significant mineralistion further northwest, with a significant lead-silver intersection of 10.7 metres at 9.2% lead and 26g/t silver from 378.8 metres down-hole depth. Mineralisation remains open in that direction. At the end of the Program, a deep drill hole (AB195) was drilled to 1,000 metres down-hole depth, aimed to pass through the interpreted copper-gold zone underneath the known lead- silver mineralisation and to be used for future down-hole electromagnetic surveys to further refine copper-gold exploration targetting. Assays remain pending for AB195. However, the geological logging of the drill hole defined a zone of over 45 metres with intermittent massive and disseminated copper-bearing chalcopyrite mineralisation from a down-hole depth of 752.0 metres. Only one drill-hole in the 2020 Abra Drilling Program was specifically drilled to target the interpreted copper-gold zone underneath the known lead-silver mineralisation (AB195) and assays remain pending for that hole, albeit, it passed through an approximately 45.0 metre zone of visual intermittent massive and disseminated copper-bearing chalcopyrite mineralisation from a down-hole depth of 752.0 metres. However, four of the holes being reported in this announcement coincidentally encountered significant intersections of copper and /or gold. The Company continues to target the commencement of the procurement /construction phase of Abra's plant and deployment of the underground mining contractor in the first half of the 2021 calendar year. Based on the current schedule, first production of high-value, high-grade lead-silver concentrate at the Project will commence within 2022. Is New 90 Day High Low • Dec 30
New 90-day high: AU$0.29 The company is up 28% from its price of AU$0.23 on 01 October 2020. The Australian market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 19% over the same period. Announcement • Dec 14
Galena Mining Ltd. Announces Resignation of Timothy Morrison, Non-Executive Director GALENA MINING LTD. announced the resignation of Non-Executive Director, Mr. Timothy Morrison. Announcement • Nov 18
Galena Mining Ltd. Announces the Second Batch of Assay Results from the Substantial Ongoing Drilling Program At Abra Base Metals Project GALENA MINING LTD. announces the second batch of assay results from the substantial ongoing drilling program at Abra Base Metals Project. 39 diamond core drill-holes (AB144 to AB179, AB181 to AB183) for 17,232 cumulative linear metres of the 2020 Abra Drilling Program have been completed so far. This release includes assays from eleven drill hole(AB149 to AB158, and AB161). The assay results for the first five holes (AB144 to AB148) were announced on 19 October 2020. The program was initially planned to consist of approximately 15,000 metres to 18,000 metres of drilling, with three objectives: lead-silver orebody infill; drilling into selected prospective `metal rich' zones for potential life of mine plan optimisation; and gold-copper exploration. The holes completed to date have been targeting the first two objectives, with the plan to address the third objective later in the program. Drill-hole AB147 (reported on 19 October 2020) encountered 86.1 metres of combined down-hole cumulative thickness of significant intersections and was considered to be the best high-grade lead-silver drill-hole in Abra's history. Importantly, AB147 was targeting a prospective `metal rich' zone not currently in the early years of the mine plan, in this case a relatively shallow zone on the northeastern limb of the Indicated portion of Abra's Mineral Resource. The drill-hole indicates the existence of a potentially mineable domain approximately 30 metres closer to the surface than the shallowest currently planned mining zone. The relative shallowness of this area and proximity to early decline development makes it a target for inclusion in the early years of the mine plan as an optimisation. Based on the success of drill-hole AB147, an additional seven drill-holes were initially added to the 2020 Abra Drilling Program in that area. Two of those additional holes, each approximately 25 metres away from AB147, are being reported (AB155, and AB158), with outstanding significant intercepts for both. As a result, the north eastern limb of Abra's Indicated Resource area around AB147 is becoming a more substantial potential optimisation for the early years of mine planning. Therefore, another seven holes have been added to the program in that area to test the full extent of the zone and it is now currently likely the overall program could exceed 22,000 metres. Drill-hole AB157 was drilled immediately outside of the eastern margin of the planned year one of the life of mine and the eastern boundary of the north western Indicated Resource limb. However, it has reported better than expected mineralisation within two mineralised horizons along with the stratiform domain of the deposit (ie, Apron Zone). A potential linkage between this area and the strong results from the north eastern limb of the Indicated Resource is proposed to be investigated for a potential high-grade mineralisation trend along 110-120 degrees trend in that area. Some of the additional planned holes will be drilled in the Inferred Resource area between the two northern limbs of Indicated Resource. Drill-hole AB151 being reported in this announcement is considered the best ever drill-hole in Abra's north western quadrant on a cumulative grade and thickness basis. Its 31.2 metres of cumulative significant intersections included an exceptional 27.4 metres intersection at 16.3% lead and 73g/t silver from 334.5 metres downhole. AB151 sits at the north western extremity of Abra's October 2019 Resource model and so the outstanding result highlights that Abra's mineralisation continues to be open towards the north west. On 12 November, a fourth drill-rig arrived at Abra, increasing the cumulative drilling capacity to 1,800 to 2,200 metres per week. Assays for 11 drill-holes (AB149 to AB158 and AB161) are being reported in this announcement and assays for 22 completed holes remain pending. Drill-holes AB149 to AB158, and AB161 provided the following significant mineralised intersections: AB149; 2.1m at 3.1% lead and 15g/t silver from 400.4m; 7.9m at 9.1% lead and 20g/t silver from 430.2m; 5.3m at 13.7% lead and 24g/t silver from 461.7m; and 3.8m at 3.9% lead and 1.64% copper from 468.9m; AB150; 11.2m at 2.5% lead and 9g/t silver from 421.4m; AB151; 27.4m at 16.3% lead and 73g/t silver from 334.5m, incl: 5.2m at 24.8% lead and 157g/t silver from 337.3m; and 3.8m at 13.8% lead and 24g/t silver from 368.5m; AB152; 4.0m at 11.4% lead and 93g/t silver from 393.4m (1% lead cutoff applied); AB153; 6.6m at 6.9% lead and 9g/t silver from 313.0m; and 4.2m at 9.7% lead and 13.3g/t silver from 340.2m; AB154; 4.4m at 6.0% lead and 11g/t silver from 291.5m; and 5.0m at 9.6% lead and 11g/t silver from 324.3m; AB155; 8.5m at 11.1% lead and 47g/t silver from 280.2m; 12.7m at 5.1% lead and 18g/t silver from 300.9m; 18.6m at 7.9% lead and 11g/t silver from 352.0m; and 6.2m at 7.7% lead and 12g/t silver from 380.5m; AB156; 5.3m at 9.4% lead and 29g/t silver from 361.4m; AB157; 5.4m at 13.9% lead and 24g/t silver from 283.5m; and 12.4m at 10.7% lead and 16g/t silver from 301.1m; AB158; 7.8m at 8.0% lead and 23g/t silver from 316.4m; 9.7m at 11.3% lead and 20g/t silver from 346.5m; and 3.8m at 6.1% lead and 12g/t silver from 373.2m; AB161; No significant lead and silver mineralisation over 4 metres thickness. Other than holes AB151, AB155, AB157 and AB158, which have been described in more detail separately, the Company is encouraged that on average drill-holes met or exceeded expectations for their specific locations as projected by the October 2019 Resource model. Is New 90 Day High Low • Nov 12
New 90-day high: AU$0.27 The company is up 17% from its price of AU$0.23 on 14 August 2020. The Australian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 4.0% over the same period. Announcement • Oct 19
Galena Mining Ltd. Announces the First Assay Results from the Substantial Ongoing Drilling Program at Abra Base Metals Project Galena Mining Limited announced the first assay results from the substantial ongoing drilling program at Abra Base Metals Project 25 diamond core drill-holes (AB144 to AB168) for 10,646 cumulative linear metres of the 2020 Abra Drilling Program have been completed so far. Albeit, this release only includes assays from the first five holes due to the slow progress in receiving assays. The program was initially planned to consist of approximately 15,000 metres to 18,000 metres of drilling, with three objectives: lead-silver orebody infill; drilling into selected prospective `metal rich' zones for potential life of mine plan optimisation; and gold-copper exploration. The holes completed to date have been targeting the first two objectives, with the plan to address the third objective later in the program. Drill-hole AB147 being reported in this announcement encountered a number of outstanding significant intersections reaching a combined down-hole thickness of 86.1 metres. Based on combined cumulative thickness and grades, it's the best high-grade lead-silver drill-hole in Abra's history. Importantly, AB147 was one of the holes targeting a prospective `metal rich' zone not currently in the early years of the mine plan, in this case a relatively shallow zone on the northeastern limb of the Indicated portion of Abra's Mineral Resource. The drill-hole indicates the existence of a potentially mineable domain approximately 30 metres closer to the surface than the shallowest currently planned mining zone. The relative shallowness of this area and proximity to early decline development makes it a target for inclusion in the early years of the mine plan as an optimisation. Based on the success of drill-hole AB147, an additional seven drill-holes have been added to the 2020 Abra Drilling Program in that area and its currently likely the overall program could exceed 22,000 metres. There are now three drill-rigs operating at Abra with the capacity to drill a cumulative 1,400-1,800 metres per week. Assays have taken some time because drilling initially commenced with one drill-rig only and it took some weeks to ramp-up to three rigs due to drill-rig availability. Assays have also been slower to be received than for past programs due to capacity issues with sample logistics operators and lab backlogs. Assays for five drill-holes (AB144 to AB148) are being reported in this announcement and assays for 20 completed holes remain pending. There were no significant intersections to report from AB144 and AB145. These holes were on the north eastern margin of the Apron Zone on the flanks of the proposed mining areas. AB144 intersected 0.4m at 7.5% lead and 43g/t silver from 396.2m and AB145 intersected 1.5m at 5.9% lead and 18g/t silver from 376.3m and 1.5m at 10.2% Pb and 28g/t Ag from 381.7m. Despite being at the flanks of proposed mining areas, these holes provide encouragement that mineralisation remains open to the west. Minimum lead intersection: 4m at 5.0% lead. Maximum internal dilution: 4m at <5.0% lead. Minimum copper intersection: 2m at 1.0% copper. Minimum gold intersection: 2m at 1.0ppm gold. N.B. lower grade intersections reported for major lodes for transparency. Announcement • Jul 31
Galena Mining Limited (ASX:G1A) acquired Higginsville Gold Operations Pastefill Plant from Westgold Resources Limited (ASX:WGX) for AUD 2.2 million. Galena Mining Limited (ASX:G1A) acquired Higginsville Gold Operations Pastefill Plant from Westgold Resources Limited (ASX:WGX) for AUD 2.2 million on May 1, 2020. As part of the consideration, Galena Mining Limited (ASX:G1A) will issue 11.6 million shares.
Galena Mining Limited (ASX:G1A) completed the acquisition of Higginsville Gold Operations Pastefill Plant from Westgold Resources Limited (ASX:WGX) on May 1, 2020. Announcement • Jul 08
Galena Mining Limited announced that it expects to receive AUD 12.0015 million in funding Galena Mining Limited (ASX:G1A) announced a private placement of 57,150,000 new shares at an issue price of AUD 0.21 per share for gross proceeds of AUD 12,001,500 on July 8, 2020. The transaction will include participation from existing and a number of new high-quality institutional
investors, including existing shareholder Timothy Andrew Roberts, who will subscribe for 11,150,000 shares. The transaction will get oversubscribed. 
