The options have a four-year term from issuance date, with 50% of the total being exercisable at a price of 43 cents per share and the other 50% of the total being exercisable at 54 cents per share. The options will vest over a four-month period from the issuance date.
Galileo Resources has a sizeable footprint on a copper-rich region of South Africa, and is now pressing ahead towards a resource
Last year, the company produced 126,000 tonnes of rutile and 37,600 tonnes of ilmenite
Wishbone has supply agreements with miners based in Peru, Ghana, Chile and Colombia.