Been watching Galileo Mining recently and noticed it has held strong even during market pullbacks and macro headwinds. Quite admirable for a speculative mining explorer all things considered and doing much better than some of the software/technology shares on the ASX.

I believe what is holding up the share price is the following

• Presence of Rhodium in their results along with everything else that comes with a Nickel PGE discovery in a Tier 1 mining jurisdiction as opposed to Russia or Africa. This is rare and borrowing a term from ECON 101 a true "economic rent' for the company.
• Significant buying from IGO and Creasy
• Some insider ownership

But at a market cap of 235m it is not cheap...

Really tough chasing down these explorers and every discovery hit.

I know I "stupidly" bought Chalice when it was around 90m market cap because buying depth was still strong during the peak of the Covid outbreak after I liked their first discovery hole (and only thing I knew about discoveries was ALK Boda deposit). And everyone tells you it's sentiment driven and not sustainable.

Perhaps I should have been "stupid" here and bought on the discovery hole instead of using my knowledge of finance studying small caps with potential revenue growth that are now floundering due to macro headwinds.