The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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I second that C7, it's definitely easier to understand whats going on with you handing over knowledge and experience. Thankyou
Hi Caterham
Thanks for your response, your name is the same as my secondary school.
Fantastic, so we can hopefully look forward to some fantastic news, if we can get 4% copper grade that would be fantastic, considering industry % is considerably lower.
I know Recon africa are drilling for oil in the Kalahari basin, and are currently worth 1.2bill with no revenue or oil strike as if yet.
The Kalahari it seems has a huge amount of untapped resources, just waiting to be extracted, Africa, the last untapped continent.
I think I will try and increse my holding.
Funky
I think what Colin said was that the first few holes would be for calibration, implying that the rest of the holes would be specifically targeting copper bodies. There is a lot of serendipity / luck / chance in Exploration, so it is possible that the first few holes do indeed encounter encouraging copper grades.
Hi Caterham
I have a question, I hope you don't mind.
Im no geo, but when we drill these 10 holes, Mr Bird said its for calibration, will we still not find copper etc in these cores ? Surely a drilled hole is a drilled hole ? Atleast he said they would probably punch atleast one hole looking for some red gold, I get we need to know what type of rock etc we are drilling but surely it would still contain grades of material etc.
I look forward to your response.
Thank you for your time.
Funky
Hi Ella,
I have actually spent the last circa 10 years mentoring / coaching / training Geos joining the industry from university. I wonder what Colin was like when he first started out? I suspect he has always talked a good story!
C7,
Did you coach Colin for his interview? He had the sands and wee bit of reality too.
Reading Khoemacau resource page they quote metres of drilling completed on some of their resources.
True C7, first few holes are for calibration.......but what about the last few holes of the 2.5k metres we are drilling :-), exciting times!
Datacheck - regarding your last paragraph - remember that the first few wells are intended to calibrate the geological models, so may possibly not contain bonanza copper grades - that will come in the later optimised wells :-)
SF paid 2.6, that wasn't for no reason..1.8 is a good price, i personally am still accumulating. We will likely reach that height again as a major has justified it. Slow and steady is the game, once people wee this isn't just a trading spike but a serious re rate upwards that has staying power like today.. Still up despite heavy trading.....confidence will build. MMs will let this go.
2500m of drilling constracted
80m a day
Less than 2 weeks we will be seeing them coper filled drill cores. Once we see copper in those cores this sp will not reduce, so 2 weeks to accumulate. Copper or bot copper is the gamble. But anyone who has done decent research knows the chances of copper.......in a copper bull market. U can't get better than this. Go for broke, life changing gains coming
slightly peeved i had to pay 1.8p and someone managed a decent wedge at 1.76p but should be over it by next week. I expect we will see the weekend paper finance sections full of copper talk
That was a battle today! Blue and red all day ending in 5% up, GLR holders 1 : Profit takers 0. Well done to all for holding. 20-30% up this week. Fantastic! here's to more next week.......keep the faith.....drill for goldopper
I really believe we will. For Sandfire to do the deal they have done, those heli survey results must be convincing and Colin said in the interview that they were excellent. Looking forward to XTR rises when the drilling starts. I was really lucky there, bought some at 1.9p and within a day they started the rise, maybe not so quick here but with copper going nuts, everyone is going to be buying copper companies
Nice one John, good holding there. I think we will all do very nicely personally
Had an empty ISA and suddenly copper prices got the better of me and don't want to miss out on the meteoric GLR rise about to happen. Holding 10M now sh@t or bust
just added 1M at a fill or kill price 1.8p
Really struggled to get them over the last couple of days, was trying to get them cheaper than ask but they were not having it. Ended up costing me £2K extra, what a bozo eh
No Guarantees in life except death n taxes.
Talk of 25% zinc
Talk of 4-5% copper at Sandfire
Massive grades, if we can get some of that we will all be very happy
Funky
I am hoping now for many more RNS releases and more interviews with Zak as we do more drills. This could well be the making of GLR. The other projects generating revenue are just an added bonus. Very exciting year for Galileo.
The fact that you were singing yesterday fills me with confidence C7
Thank you. Here’s hoping
37km doesn't even guarantee one discovery, but its a very promising base from which to explore.
Thank you Caterham7. Enjoyed watching the sandboxes! As we appear to have ‘37km and 1 dome’ what do you are the chances of more than 1?
“We are not looking for copper in first, second or a third hole but right lithology” it would be surprising if we hit the copper in first drill.
Listen to Zak interview more knowledge shared.
I liked the bit when he said 37km strike, this baby is just getting better and better
Funky
Most important takeaway from todays interview is that the first few holes are intended to calibrate the lithology, which will help better refine the prospect models and placement of later wells. This is typical drilling campaign strategy in most exploration programs. So better understanding the geology early on increases chances of big success in later wells, but don't necessarily expect major discovery with first few wells.
https://www.proactiveinvestors.co.uk/companies/news/948727/galileo-resources-presents-drilling-plans-at-kalahari-copper-belt-in-western-botswana-948727.html