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Started: hairydavey, 23 May 2024 15:10
Last post: BSmonitor, Today 05:33
Actually IKY affirmat did do something to the MC. Had it fallen through the MC would have plummeted as a cash call would be on the horizon. It wasn't big enough in itself to do anything except fund more opex. The business model needs some shareholder return as in special dividend to show it is not just an exploration gambling device for CB's gratification. If Luansobe falls through it will be so bad from both funding and confidence point of view.
just to add that afrimat money did **** all to our mc the way most expected on here... waited all that time for what.
colin has taken a huge risk re kamatavi ( heard last week) talks were ongoing and at a decent deal i believe but for birdy to step back, apparently waiting for lith prices to increase more and the same with copper.
colin .... fix up for your lth ,we supported glr for years least you can do is an official update not some roast dinner chit chat.
Pay your money. Take your choice.
2023: Star Zinc, Kat* zinc production, Luansobe production by mid 2023, Ferber drilling.
2024 ?
We had no news is bad news on the
1. Afrimat payment (received) - some made a case for it never arriving
2. Luansobe License Approval (Received in MLC minutes and the Cadastre). Again, some made a case for it never arriving.
Looking forward to further Luansobe updates.
Started: hairydavey, 22 May 2024 15:31
Last post: Analytical, 23 May 2024 22:20
DYOR.
Re Silence can also be golden. DYOR.
Anal, you are so full of the brown stuff. DYOR???? Wish I had £1 for every time you've posted that.
How condescending of you to assume that anyone other than you invested in GLR has not done their own research.
Of course they did. Yet despite this they find themselves months or years later still waiting for answers, value and some action.
They are fully entitled to be questioning why things don't happen, deadlines don't get met, why Bird overpromises then goes silent etc without your constant and condescending ramping.
Give it a rest
Silence can also be golden. DYOR.
I am still stinging from my XTR experience - 80% down. And what I learnt from that was that silence was usually a precursor to bad news. I am really hoping that it will be different with GLR, as the assets are much better. Maybe there is a monster RNS in preparation that will explain everything, and will the SP will rocket? I hold onto the dream…
The continuing silence here from Bird etc shows complete contempt for loyal longterm shareholders -please tell us what is happening at Luansobe following the grant of the licence -or has it got lost in the post?
Last post: Sumoskier, 23 May 2024 21:51
If they have collected the mining licence I would have thought this would deserve an RNS as surely it moves an asset into a different class? Same as a house with planning permission or not? Why keep it secret?
… will be our hero soon.
Started: FunkySausage, 7 Jan 2024 10:58
Last post: moneygilb, 22 May 2024 13:25
Oh. Nice Analytical…
“We have four large-scale producers who have come forward.”
While Kambamura did not disclose the names of the companies”
Last post: hairydavey, 22 May 2024 08:53
Last I heard Siege had appeared to have been doing some slightly cagey things, and Colin and legal team were trying to find out the exact status.
Could anyone fill me in on the story/status with Starzinc and Siege please?
Hope you are right cyber but I wouldn't hold your breath.
IMHO this will probably be the last chance to get GLR at these very low prices. I believe there will be a strong announcement on Luansobe (and maybe other assets) in the next few working days, early next week latest. As long as a clear and profitable plan is forthcoming I'm happy to wait a little longer.
Cooper lemon stated September/October for Luansobe start. The approval would not have been granted without a plan for where the ore will be processed and timescales declared to the Cadastre staff.
Well from my experience of investing in various Bird companies, no news is usually bad news. And whatever he spouts off about getting maximum value for long suffering shareholders, when it comes to it he doesn't give a toss about us. We were just the useful idiots who provided the initial and ongoing capital when needed.
Nothing in mining is straightforward and I doubt mining in Zambia is any different.
Started: Sumoskier, 18 May 2024 11:10
Last post: levistubbs, 21 May 2024 08:55
Paint dried, enough said. 🙄
No news -what a surprise -if Bird can’t deliver get someone in who can -this is Groundhog Day on steroids
Just getting that paint brush out!
Well May 20th deadline has arrived. According to last MLC report the offer for the Luansobe open pit must have been collected BY the Co otherwise it has expired. Surely an RNS is due
You are being a bit harsh. On Colin's desk there is probably a pile of folders with "Immediate Attention Required". Names like: New Projects 1, 2, 3 , 4, 5, 6, 7,8,9,10, Luansobe, Shinganda, Kamativi, Botswana, Ferber, NW Zambia, Ongombo, Hope and Gorob, NW Zambia AFP, NW Zambia XTR, Bushranger, Silverking, Ken etc etc.
Sadly the market has given up thinking the folders will be opened and actioned no matter how high copper goes. The trading volume has been abysmal given how much press coverage copper is getting. The only consolation is the shareprices should go up a lot given the low starting points across the Group. Next year ......................
Last post: Analytical, 20 May 2024 12:25
How about less tweeting and a spec of tangible progress in extracting returns for shareholders.The commodities market is booming and no favorable share movement
Here whatsoever-says a lot about markets opinion of Mr Bird
AIM up 1.7%. Copper at all time highs. Colin was tweeting photos of dumper trucks a year ago. Mining license now sorted. Lets get Luansobe into production.
Macro looks inviting. Monies are beginning to rotate into Juniors. CB had the foresight to move into Copper in regions he is very familiar with. Looking at TSX, ASX, AIM - CB was one of the few that figured it out and put the company in a position to benefit from what was coming. Deep pockets will find GLR an attractive proposition soon enough. DYOR.
Started: Analytical, 17 May 2024 20:09
Last post: iani, 19 May 2024 22:53
Analytical,how much do you reckon Luansobe is worth now with mlning consent. A realistic figure please matey!
Toll processing is used in Zambia, particularly in the copper and cobalt mining sectors. Zambia, being one of the world's largest producers of copper, has several toll processing arrangements due to the presence of numerous mining companies and processing facilities. These arrangements allow mining companies to outsource the processing of their ore to third-party facilities that have the necessary infrastructure and expertise.
The benefits of toll processing in Zambia include:
1. **Cost Reduction**: Smaller or junior mining companies can avoid the high costs of building and maintaining their own processing plants.
2. **Access to Advanced Technology**: Toll processing facilities often have state-of-the-art technology and processes, which can lead to higher recovery rates and more efficient processing.
3. **Increased Production Capacity**: By using third-party facilities, mining companies can increase their production capacity without significant capital investment.
4. **Operational Flexibility**: Companies can adjust their processing volumes based on market demand and production levels, providing greater operational flexibility.
Examples of toll processing in Zambia include arrangements between mining companies and major smelters and refineries, such as the Chambishi Copper Smelter and the Konkola Copper Mines (KCM). These facilities often process ore from various mining operations, leveraging their established infrastructure and expertise to benefit multiple stakeholders in the Zambian mining sector.
Toll processing in the mining industry refers to the outsourcing of certain stages of mineral processing to a third-party facility. In this arrangement, a mining company sends its ore or raw materials to another company's processing plant, where the material is processed for a fee or "toll." This allows mining companies to benefit from specialized equipment, expertise, and economies of scale without investing in their own processing infrastructure.
Key aspects of toll processing include:
1. **Cost Efficiency**: By using existing facilities, mining companies can avoid the high capital costs associated with building and maintaining their own processing plants.
2. **Expertise and Technology**: Toll processing facilities often have advanced technology and specialized knowledge, improving the efficiency and quality of the processing.
3. **Flexibility**: Companies can scale their processing needs up or down based on production levels without being tied to their own infrastructure.
4. **Risk Mitigation**: Outsourcing processing can reduce operational risks and allow mining companies to focus on their core activities, such as exploration and extraction.
Overall, toll processing is a strategic option that can optimize resources and improve the overall profitability of mining operations.
Plenty of processing plants nearby requiring ore.
Started: Coyote2020, 17 May 2024 17:06
Last post: CHRI5P, 17 May 2024 18:03
The news is good but for CB companies good is not good enough
Does not appear on the Birdman’s agenda to create shareholder value hence the shareprice stuck circa 1p -every a small rise is wiped out due to lack of tangible news -how many months does it take to pick up a licence from the relevant Government office and have the courtesy to update shareholders -sure it would only cost a few pounds to hire a courier to pick up the licence.
Commodities booming shareprice falling
Not bad as a credit!
33.90 g/t Au at surface is US$2600/t rock!
Started: Coyote2020, 17 May 2024 16:54
Last post: Coyote2020, 17 May 2024 16:54
US$2408
Bring on Shinganda!
Started: hairydavey, 17 May 2024 05:49
Last post: hairydavey, 17 May 2024 05:49
Into the perfect storm now
https://www.ft.com/content/4b672545-0049-4250-ad86-0064bbfbc0a2
Just need Colin to pull something out of the bag whilst the irons are hot!
Last post: Analytical, 16 May 2024 20:04
Good points Iky and my thoughts too. They also have first right of refusal on the rest of the licenses to buy and a chance to invest further and put a member on the board of directors. They wouldn't build that into the contract if they didnt think the company would be expanding.
My personal thoughts on the KCB now, are that it has stepped outside of the original agreement and some "give and take" deals are being done. SFR had to spend $4m on "sold" Licenses on 2 years from the transfer date (which has lapsed now) and a good proportion (50% ish) of that was for specifically drilling PL250 and 251 which are closes to their T3 and A4 expansion and Cobres Kitlanye (and our 253 as we all know). if they didnt spend it, then we would receive back the delta from the $4m.
in the half year results we got an update on each of the "sold Licenses" and in relation to 250 and 251, there were no drill updates as said in the contract. In the AGM Martyn was telling me that there were problems with SFRs AGG survey plane and it had been getting repaired for a long time (I'm sure i mentioned this in my update from the AGM around October November....but hasn't become poignant until now). This is probably why there are no drill results on 251 and 250 as there couldn't be an AGG survey to direct where to drill.
however on the flip side, and this is just my opinion, now they appear to be flying again, they are giving us results on PL253 for free (most likely in payback for not getting as far on 250 and 251 as they should have). I imagine though the essence of the original deal still stands and they will drill 251 and 250 and we need to see the results when they arrive albeit delayed
all imo
Sandfire's Share Subscription: Sandfire to acquire US$1.5 million 41,100,124 ordinary shares of 0.1 p in the Company ("Galileo Shares") ("Sandfire's Shares") at a subscription price of 2.68 pence per Galileo Share, being a 25% premium to the 10 day VWAP of the Company's share price as at 22 January 2021, being the day before the signing of the Share Subscription Agreement. Sandfire's Shares will be issued at a premium of 17% to the closing mid-price of the Galileo Shares on 25 January 2021, being the last practical date before the issue of this announcement. This will represent a 4.62% interest in Galileo.
Sfr buying in at 2.68 at the time was definitely based on more information they received, not only on the kalahari project but glr as a whole...imo. surely a company that size does their DD before investing and by investing I mean long term not a quick flip, unless they been selling over time in small chunks at a loss which is unlikely.
So 2.68 is my base for this glr story to unfold.
Data you maybe able to assist, in the same rns above it said sfr have 2 years to carry out works, we're over that period so now what?
Come on CB wake up and share that news.
Started: Sumoskier, 16 May 2024 11:24
Last post: moneygilb, 16 May 2024 18:37
You can if you ain’t picked up the document and stalling picking it up so to release with other stuff. Or a nda could trump the rns in some way -.-
MG you can't just hold back info that's market sensitive
I reckon it’s collected and an RNS is being weaved with other big news imho dyor
The MLC document stated that the license offer must be collected BY the 20th May or it will expire. The onus seems on the Company and surely they would have collected this already. I do not see why this does not constitute a formal offer so why has the Co not RNS... something smells bad
But we are going to be mining by September 😆😆😆
Last post: Analytical, 16 May 2024 12:10
Whatever the commodity, up 60% today.
If there is any good news then I wish Colin would hurry up and release it. 2024 is beginning to look like 2023 and 2022 etc etc. Colin said he doesn't like gold because it is an "end of the world"metal. It seems many investors are betting on the end of the world !.
Maybe Galileo should take a tip from E S T.
Only imo.
Gee thanks Funky Sausage, I am touched.
Started: Irishdemon, 14 May 2024 17:04
Last post: Analytical, 15 May 2024 11:42
That’s why capex —-> opex is the approach to adopt. It’s risk mitigation (to an extent). A good macro outlook helps. I think the m&a bhp/rio Tinto —> Anglo is an indicator of where deep pockets think the market is going.
And the closer the company is to production the more sensitive it is to copper price fluctuations.
An increased copper price is what leads to deals or production.
Great to see copper price rises but only relevant here if copper is actually produced or deal done.Time Bird pulled something out of the bag and actually delivered some material shareholder returns -actions speaks larger than words
Started: Irishdemon, 14 May 2024 16:00
Last post: Irishdemon, 14 May 2024 17:09
You may be right in a sense but there simply are not enough advanced and permitted copper projects in the right locations available and the supply-demand balance is so absurdly out of kilter going forward, BR is bound to have its day. Dog of a project though it may be.
Do your maths. It is now $11K and one of the largest and developable copper assets globally in a stable and permittable jurisdiction. Albeit low grade , I agree, but that is rapidly being offset by the PoC.
Https://www.livecharts.co.uk/MarketCharts/copper.php
Sprott are getting ready to issue a new Copper ETF .. that will also add some extra fuel to the copper jet.
Cut off grade verses overall grade is what is more important.
CB has put GLR in this excellent position. Time to see some options exercised.
Even at 10k poc, BR is not attractive to a major.
Massive amounts of work for minimal return. Far better to invest in smaller projects with better grades
Anyone watching the POC ? Even BR will be worth something at this rate ! and very soon
Started: Wibble1968, 9 May 2024 08:45
Last post: Analytical, 14 May 2024 15:40
Interesting. Rio Tinto throwing their hat into the copper M&A ring with Anglo ?
https://x.com/mining/status/1788948088687665509
2204 lbs * $4.70 = $10,358 tonne - copper.
Looking great https://www.m.livecharts.co.uk/MarketCharts/copper.php
Last post: whowrotethis, 14 May 2024 15:27
If you have confidence buy some ... if not sell some. If you need the money sell some, if you have a better opportunity sell some. You know how it works Levi.
Yep one share trade. Pathetic.
.
Started: hairydavey, 12 May 2024 09:28
Last post: levistubbs, 13 May 2024 16:27
Interesting moves at Afp. Probably a suckers rally but I live in blind hope much like here 🙄
I agree Obidiah. CB always looks for optionality and he now has it. In spades. What we as shareholders want to see is monetization very soon as promised in 2023. Now we have the Luansobe Open Pit license in place, more £ in the bank, and a flying copper price plus a great Copper macro outlook. Getting there.
I'd disagree, Colin is (as he never fails to mention) a miner. He'd love to go out on top of an operational mine with his name on the flag. That said, the one thing he likes more than mining is the money, and he's quite capable of pivoting, look at the JLP move from deep mining platinum to the conroast tech and the direction the business then went in. So I think the running of an operational open pit is very tempting to him, but reality and a large offer may well take his attention.
Ob.
Copper going gangbusters and this has had barely £4k of volume. Laughable.
We might have plenty of decent assets but someone is obviously doing something wrong.
Time for Bird to hand the reigns over to someone who can take this forward.
Get on with it or retire Colin.
The Open Pit is proved hence the small scale mining license with minutes showing approval, the Cadastre updated, and waiting on the RNS from GLR. The open pit prodction is what would pay for the deeps exploration (as well as other assets exploration) IMO. CB and team does not need to be experts in open mining - simply hire guys to do that - CB has the contacts. Exploration of the 'majority of' the deeps is best run in parallel with Open Pit mining.
I recommended XTR to my brother when it was 5p. What could go wrong. Colin had said there was definitely 2 m/t which we knew would trigger the Anglo American buy out clause. My brother said no way, not after JLP (previously a CB company). I wish I had taken his advice !. Only very good news will suffice I feel. Copper is near all time highs yet it has done nothing for the shareprice.
But demand for copper is only going one way so eventually it should improve ???
https://www.worldometers.info/world-population/#table-forecast
Excellent post CRI5P. 👏
Iky you're being quite restrained. The money being received is good news and shows we don't need a placement any time soon. I believe in GLR but not the PI's who invest their money in AIM because that is who we rely on to buy the shares . GLR is to small for institution money so we have to convince the novice investor to take a punt. Colin's reputation among investors is in tatters and this is due to the failings of his other companies but not GLR yet. We seem to have the better of the prospects and Shinganda looks super interesting. but the worry is that the over promise of XTR and co will fall on GLR. The problem IMO is Colin is all out trying to achieve a billion dollar company when for me I would be very happy with a one hundred million one. I still think we need to sell some assets and reward shareholders now rather than the possibility of creating that billion dollar company but many moons away.
Iky, you have to remember this is AIM, probably the worst stock market in the world.
Well what a depressing week for glr sp, 1 step forward & 2 back. How many on here were saying the miney we will receive will have a positive effect on sp/market cap... well we're below the price pre payment rns.. luansobe license expectations has no effect on the market either.
Yes I am talking slightly negative right now BUT THESE ARE FACTS. Lets see what next week brings, like many " another day, another step closer".. lol.
Enjoy your weekend all.
Last post: BSmonitor, 11 May 2024 09:32
Who is waiting for what?
Co says they are waiting for official confirmation before releasing RNS?
79th MLC report states:-
SUCCESSFUL APPLICANTS MUST COLLECT OFFER LETTERS FROM OUR REGISTRY AND PAY THE APPLICABLE AREA CHARGES AND MEET ANY OTHER CONDITION(S) (AS THE CASE MIGHT BE) WITHIN THE STIPULATED WINDOW PERIOD AS ACKNOWLEDGMENT OF ACCEPTANCE OF THE OFFER;
The window expires on 20th May..has the Co picked up the offer letter?
Started: moneygilb, 10 May 2024 14:59
Last post: moneygilb, 10 May 2024 14:59
Bet we get an RNS (eventually) bundled with various news as in the past.
Started: Analytical, 6 May 2024 11:13
Last post: Analytical, 9 May 2024 21:00
18 Months or never wasn’t it Levi? Strange for a soul boy to be so negative ;-)
Getting pretty dull and repetitive these posts.
Sit tight and ignore the noise quote analytical. No one needs to justify why they are in, out or shake it all about.
How would that be the case Analytical when Bird is making it so easy to be negative and you are making it so easy with your fully researched we will be mining in by September rhetoric 😆
You continue in your confusion Levi. I would have thought you had run out of continually negative posting by now. Guffaw guffaw snort …
Of course a year wasn’t mentioned!
i prefer this bb when we stick to informed comment and criticism . tempting though it is to **** off posters, it does not really get us anywhere. shareholders all ultimately want the sp to improve.
have listened to the zambia special and even allowing for the "sponsored" element it is all very positive. the more appetite for copper investments the better our prospects . i was particularly intrigued to learn just how close luansobe is to mopani which has just received a $1.1m injection from uae. as they say we just need to prove up these resources a little with some more drilling. but hopefully not much more. i think the good days are not far off. offers should then materialise if the copper price remains around $10k per ton . my friends in the jewellery business tell me the current high gold price is bringing in lots of folk selling off their spare gold. these price hikes tend to focus interest and stimulate investment.