The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Doesn't he say in the interview he can't garner much info from soil sampling
I always thought most just done the soil sampling as a time buyer for the licence requirements, while.they work out what they intend to do, like JV etc
Funky
Hi everyone,
Thanks for all your helpful posts.
Hi Phoenix, I'm sorry to hear you have come to such a negative view and are selling - that's quite a holding and if you sell all within a short period of time it is likely to have a negative impact on the SP. Some of the items you are not happy about sound quite positive on the surface. I'm sure I speak for everyone when I say we shall miss all the in depth research you post on this board.
Hi Ella
I’m selling on Monday morning too. Shame CB’s hand was forced to give up SZ as urbanisation grew around the site of SZ. Pity he still managed to get some income which will help to fund further drills in the future. U.K. not saying placings may not happen but will need less if SZ wasn’t sold as Chris said.
Shame that he sold 9 licenses to Sandfire and got them and now expecting royalty payments for tens of millions. Shame he is drilling 2 licenses geology of which is same as 2 biggest finds in the region. Sandfire to become producer Q4 2021/2022. So many people gone wrong on their strategy. I shall sell too Monday morning. Guys if you see sell of 11 millions that’s me done. I’m sorry Caterham I didn’t trust your confidence though you have more than 30 years of experience with FTSE100 miners.
We will miss you on this forum
NOT!!!
If the AEM targets are very convincing (good look alike to nearby discoveries) the soil sampling will add little in terms of pre-drill derisking. If the AEM anomalies had been less convincing then they may have decided to do soil sampling as additional derisking data point.
I think soil sampling wasn't needed Ella as the AEM is better. Soil sampling seems to be the first thing you do to help see what you've got, bucket and spade job before spending X 1000's on a helicopter survey and drilling. We just skipped it out and no need to go back to it. Either that or it's just not worth telling us specifically it was done.
Ella why are you on this board you have already said on this board the price will drop- and on another board you said you have sold GLR I suspect because you feel SZ was sol too cheaply. However, what exploration is all about is the cost of proving what you think you have. If we had not sold SZ we would have needed to either sell something else at a bargain, had a placing or reduce the drilling programmes on potentially 3 of our explorations. I think if KAV is worth £15 million we are worth £40 million at the very least.
Hi Oiltap,
Where did you get the impression that I thought the team had forgotten about it?
The following was taken from the Oct 2019 virgo report.
https://galileoresources.com/wp-content/uploads/Kalahari-Project-Summary-Oct2019.pdf
'Potential for successful copper exploration results on Virgo’s Kalahari Copper Belt licenses is the highest in areas where D’kar Formation is present or where previous explorers have located soil and/or EM anomalies. The D’kar Formation is known to host copper mineralisation, but a lack of outcrop means geophysical exploration, as well as trenching or soil geochemical surveys, will need to be implemented to generate targets for follow up. '
So presumably at that stage QH thought soil sampling and trenching was required to define drill targets have we completed some exploration since this that precludes the need for soil sampling? Or is the suggestion that we have a full 22km of copper?
KAV management IMO are just over hyping their RNS for a huge placing this month for a drilling programme.
Hi Oiltap,
Reading the the RNS Kavango released yesterday I was struck by the soil sampling they had done and the further sampling and trenching planned to target their drilling. I recalled that our initial RNS mentioned soil sampling but could find no further mention of it in later RNS. Are you able to point me to any soil analysis that has been performed on either of the 2 licences we have targeted for drilling?
I was reading the Kavango RNS and then read I through some of the RNS on our licences. I assume there has been no soil surveys performed on our licences.
'Galileo's EM survey exploration program is aimed at defining the most prospective structural setting for sulphide accumulations within PL40/2018 and PL39/2018, as well as possibly directly detect geochemical signatures from soil surveys. The juxtaposition of a soil geochemical anomaly and a dome feature in the EM data represents the highest priority target for drill testing.'
I couldn't see any mention of soil surveys in any later RNS but could easily have missed it.