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Very informative email posted here today from Mr Bird and in particular the update on zinc.
The Star Zinc project was assessed and priced based around processing at the Sable Plant. With Jubilee's understandable enthusiasm for copper right now, resurrecting the zinc circuit has been put on hold thereby delaying Galileo's route to market.
The details and specifics surrounding the Star Zinc location are unknown to us. However, Mr Bird has still come up with a solution. This is what makes the difference with this company imo.
All speculation. DYOR.
Thats right HD, it was me. Just incase anyone picks up. The immediate royalty payments will be a little smaller as per RNS simply due to the process in its infancy picking up. Approx 150k, then as production increases we hit over 400k a month. Iv done the calcs on a post a few months back if anyone wants to check. Since then the zinc price has actually gone up, so too will our royalty. I calculated we would receive around £12.5m in total (given certain simple assumptions I noted in the same post as the calcs). Either way, moral of rhe story is, as you say, it's a bagger once the licence and shipping is sorted ????
An example being if we added 40 million onto the market cap on top of our current 10 - share price readjusts to 4.5p - just adding on Luansobe.
On top of this.
Once we get Siege payments which someone quoted (maybe DC) may be around $400,000 per month (4.8million per annum)
Plus you work out all the other assets and a few million in the bank as cash. Our market cap sits currently at 10 million!
It really is a no brainer in my opinion. The new JV which Colin already mentioned should on its own without exploring any further add 40 million on to our market cap just shows you how undervalued we are.
Hi Oiltap
Many many thanks for all your hard work. Personally I know how persistent you had been chasing Colin over last 18 months. No wonder the man respects you.
Also very grateful you posted his reply for our information.
I never doubted Colin’s achievements with GLR. Over last 2 years he has done lot of solid acquisitions and managed to dispose some assets too.
Looks like Ka****u is going sane way as Star Zinc. We knew shipping bottle necks situations from his previous interviews. It’s assuring to hear that we will get regular payments on star zink in near future.
Kalahari is bobbing nicely too.
Plus work going on our most recent property too. Wait for a year or two and you would have multibagged.
GLA.
THANKS ONCE AGAIN OILTAP.
I think the issue my just be past issues together with people simply not understanding Colins drilling results on the KCB. The market took the fact Colin mentioned no copper YET as a bad sign. Infact, they have intersected the correct minerals on the T17 licence we sold SFR and hit all the intended areas in the hunt for copper on our licences. One of the main issues is people not actually understanding what was written. IT is simply a matter of time as we are now generating income and almost self funded. The share price and market cap will have to adjust accordingly with hard cash coming in. I also think there will be some great news on the KCB front and with the new JV in the next months.
Thank you guys for sharing. My only question is with the replies you've received ( very bullish) why/how has the market been sleep. Really want it to come good for ua all but word of caution CB has previously said " coup of my career to date" few years ago... don't want to bash the excitement but a little reality does no harm
Best of luck all..... come on colin boy lets av ya!
Absolutely. I have always believed GLR would come good at some point hence why I invested so much, but we really have turned a corner now and I have never been so happy to have been invested.
I can smell the money now Oily :)
I have to say these two responses are possibly some of the best updates we have had.
Also looks as if the T17 licence we sold to SFR are by the looks the same grades as A4 (2%) which depending upon how much is there is could mean a huge payout for us!
As CB says loads of cash in the bank, revenues and potential multiple huge discoveries and upside with no cash calls anytime soon. How many AIM companies are available in this position. Market really is missing blinder! This must rerate.
Also love
Luansobe one of the best deals Colin has done! And he has just pulled off Bushranger. That would be incredible if its better than that! This could be a life changing share if all comes off!
Nice one Oily. Looks as if comms may be improving since CB gave up Jubilee. Good to hear about the sizeable royalty payment coming our way soon :) this simply has to rerate as soon as physical cash is pouring into our bank.
CB best be careful, giving shareholders a shock like that could be detrimental to their health :-).
Seems like he's got good credentials. Lives in Maun which is 10 miles away from PL040 and 039
WOW!
I have had a reply from Colin!!!!
My first ever response from an email to anyone. However, see response. Looks like this is a response to a question re Star Zinc - it threw me as the reply was to a question about when were going to start drilling in the KCB last April lol. However a reply is a reply:
Dear Mark, thank you very much for your email. Apologies for slow information, but we have been putting together shipping details, assays, counter-assays and payments due. Will advise shareholders very soon.
Regarding Siege, all is well and they have exposed a large amount of zinc oxides, which we continue to process. There has been a temporary slowdown on licencing etc with the change of government, but again all appears to be in order.
The Star Zinc network should produce benefits for Ka****u, which Galileo will have a bigger share of, since Ka****u is not encumbered by close proximity of housing and municipal facilities.
Apologies, Mark, we'll be sharing Star Zinc results shortly.
We seem to have a new project manager in Botswana
https://bw.linkedin.com/in/maatla-letsholo-11469860
Absolutely DC!
VEry exciting times for GLR
*multibagging
Great bounce back
1) small scale mining liscence due no later than 2 weeks for SZ opening up our monthly royalty payment to the tune of £400k a month
2) 20th Feb Final answer on Luansobe copper prospect before embarking on an 18 month JORC mission. SZ took us just over 18 months to create a JORC and updates approx every 4 -6 weeks on drilling.....exciting times.
3)28th Feb first installment from Glenover sale, approx £2m
4) ka****u liscence 2 weeks ish away from answer on small scale exploration liscence
5) update on KCB
All to play for, each ultimate bagging potential
one Oily. It is all very exciting that's for sure. I agree, I think First Quantum will somehow be involved in this new project too. Hopefully to purchase it off us at a very nice premium!