Galileo Resources PLC Share Chat (GLR)

First trade of the day is mine 245336 shares at 0.81.48

Dont get these boiler room scammers much on here, was a bit shocked

Come on Colin. Lets be having some news on GLR's Zambian assets. It's been a while.

Topped up several times today at an attractive price. Indeed a very smart time and price to buy. I believe we will reap multibag rewards from here.

GLA

One buy got rejected, as I'd set a limit order.

307,901 trade is mine

Takes me to 4.307 million

I believe so Seis, last time we sold licenses we got notification 1 month after the long stop after being notified it would take another month. Good really when it comes to license transfer

Today 🤣, had a bigger restaurant Bill 😁

Someone's loading up

I see the two licenses that Sandfire are buying are listed in the Botswana cadastre as "Transfer of controlling interest : Application Pending".

From what I've seen, Botswana seem to be much quicker to process applications than you typically see in Zambia so hopefully we see news on that before too long.

I agree JL but from what I have experienced mining companies go mining on indicated and don't wait for a measured one which is clear when mining starts

P.S To be clear, you don’t have to be mining to get to that point of 'measured'. You don’t need an operating pit for example; but you do you need enough high‑quality drilling, sampling and engineering work that a Competent Person is comfortable classifying the resource as Measured/Indicated and then converting part of it into a Reserve. Production may follow, but it isn’t a prerequisite for the Reserve declaration itself.

On Molefe, there is not even a JORC (later this year)... just goes to show :-) But for the purposes of PL039/PL040 it has to be clear for obvious reasons - the amount of ££ at stake as a bonus.

From my experience measured only gets recorded once a resource is actually mined and can be 'measured' so showing an indicated resource would be required IMO.

CB used to say inffered is enough for him to go mining but indicated is required for a Feasible Study to raise big bucks.

Lucky, on the JORC side it’s worth noting that the RNS talks about a “first qualifying JORC ore reserve” of at least 400kt Cu, not just a resource. Under the JORC Code an Ore Reserve must be derived from Measured and/or Indicated resources and supported by a mine plan and modifying factors – you can’t declare a JORC Ore Reserve purely off Inferred tonnes. So for the success payment to trigger, Sandfire would need to convert enough Measured/Indicated resource on those licences into a stated JORC Ore Reserve above the 400kt Cu threshold; an Inferred‑only statement wouldn’t meet that bar.

I think that the best thing for PL253 is it's location regardless of how much copper is actually there. The compition between the 2 possible buyers is enough to create a bidding war. PL 39/40 didn't have that. We should not spend too much on PL253 unless we sell other assets because the early drilling can be unhelpful and ask more questions. It is not cheap to complete major drilling programmes and at the moment our cash is needed elsewhere.

From here the obvious end‑game is consolidation of the “gap” once Sandfire to the south or Cobre/BHP to the north have firmed up real scale on their own ground. In a world where BHP will spend up to US$25m to earn 75% of Kitlanya and Sandfire has already agreed US$3m plus a chunky US$20–80m success payment on the southern pair, it isn’t a stretch to see PL253 being pulled into a larger district package on terms that reflect its role as the bridge between Ngami and Kitlanya West. GLR doesn’t need to build a mine in the Kalahari – it just has to keep PL253 technically alive, protect the tenure out to 2027 and let the neighbours’ drill metres and their balance sheets do the heavy lifting until owning the middle piece matters more to them than haggling over price.

BHP big enough to buy the lot out if its big enough and worth it to them

Funky, it will have been a trade off. CB has learned from the drilling either side of the license, and below the license. This will have informed where the drill bit was placed. We also had part of the PL253 license flown 'for free' in an aeromagnetic survey. The additional $ required to drill out would not have been insubstantial. Just look at the $$ committment for PL039 and PL040 by SFR as an example. CB made the right choice on this IMO. We now have Luansobe further along, Molefe, etc because CBs choice to protect cash etc, and someone about to do the heacy lifting on PL253 while we push on Luansobe and Molefe I reckon.

I remember CB saying he kept the best of the 2 licenses.

We're in no rush now, let them come to us, at some point it makes sense for Cobre to take it, at what cost to them idk, cobre has a very healthy SP.

Reality is ive been calling for 253 to be drilled for yrs, it should already have been drilled out and be ready for sale

I know recon africa, careful with this one if getting in, its in sensitive areas and is covered with lots if accusations against recon, the area is a special area to some tribe. The company is run by guys that previously done the same sold out to a major, theres a pot of oil there, a hell of alot and should be the same format as the previous company. Prove uo n sell to a major.

As for CB, we know he has the contacts, wont be long

The article repeatedly points to a model of taking early or mid-stage mineral assets and moving them up the technical curve:

- secure licence or project interest;

- define or expand resource;

- complete studies, optimisation and sensitivity analysis;

- establish mining routes;

- attract partners, project finance, processing solutions or acquirers.

This is clearest in the article’s reference to Bird’s historic Kiwara transaction, where a Zambian copper asset was advanced and then acquired by First Quantum.

GLR:

The realistic value route is likely to be technical de-risking of projects followed by partnership, partial sale, development funding, processing agreement, or asset-level monetisation ... which is what we are seeing evolve.

Here's hoping at least one becomes cash generative in the next 6-12 months.

Https://theextractormagazine.com/wp-content/uploads/2026/06/Extractor-Magazine-Vol-4-Edition-65_19-06-2026-print.pdf

Large one

17-Jun-26 16:38:31 0.88 4,000,000 Unknown* 0.80 0.90 35.20k

Really Funky you have been lucky.

The length of the overhang will much depend on the churn (traded volume) and just like the newsflow in the last 9 mths the traded volume has been abysmal.

Never known of a 9 month overhang

If I could I'd post the mm pricing, however this site bans L2 content. As you have all the bases covered, time for me to leave. Good luck with your investment.

So MMS never tree shake. Got it.

Https://www.share-talk.com/rns-hotlist-with-zak-mir-glr-ciz-gana-pr1-ihc-mdz-aeg-polb-debs-ctl-tam/

“GLR remains one of the more unappreciated plays in the Colin Bird stable, something which is underlined in the wake of today’s announcement yet further. Ideally, the market will start to appreciate how prospective the GLR portfolio is from now.”

I’m sure Zak is right and I couldn’t resist topping up and expect a multibag return!

GLA

Having reviewed the 2020/21 Galileo RNSs alongside today’s sale announcement, the relationship between them looks very clear.

May 2020 — Galileo acquires the Botswana KCB package

Galileo acquired Crocus-Serv, including 21 Botswana licences, 19 in the Kalahari Copper Belt. Importantly, Virgo Business Solutions was part of that package and held licences including PL039/2018 and PL040/2018.

At acquisition, Galileo highlighted the KCB as a highly prospective copper-silver belt, with nearby discoveries by Cupric, MOD/Sandfire and others.

September 2020 — PL39 and PL40 become key focus licences

Galileo then commenced helicopter-borne EM surveying over **PL039/2018 and PL040/2018**.

The company stated that these licences appeared to have geological similarities to the major Khoemacau Zone 5 and Zone 5N deposits, around 25km to the west. PL40 was also described as particularly prospective because it sat along a trend containing several known copper-silver deposits.

November 2020 — EM results strengthen the model

Galileo reported promising EM results.

PL40 was again said to show a comparable geological setting to Cupric’s Zone 5 and Zone 5N. The company also referred to EM anomalies and geological settings potentially suitable for copper-silver mineralisation.

This was the point where PL39/PL40 moved from “interesting ground” to defined exploration targets.

May 2021 — Drill targets selected

Galileo then completed EM interpretation and drill planning.

The key technical point was the interpretation of a 22km conductive zone on PL40, with possible structural repetition and similarities to the settings seen at Khoemacau and Sandfire’s A4/T3 deposits.

Galileo signed a drilling contract for a minimum 2,500m diamond drilling programme.

June 2026 — Sandfire buys PL39 and PL40

Today’s RNS confirms Galileo has conditionally sold Virgo, which owns **PL039/2018 and PL040/2018**, to Metal Capital, a wholly owned subsidiary of Sandfire Resources.

The terms are:

US$3m upfront cash

US$4.5m exploration commitment by Sandfire

At least 4,000m drilling by 31 December 2026

Potential success payment of US$20m, US$40m or US$80m if qualifying JORC ore reserve thresholds are met

This is not a random disposal. it is the monetisation of the exact licences Galileo identified in 2020/21 as having geological similarities to major KCB copper discoveries.

The buyer is also highly significant. Sandfire is not just any purchaser. Galileo’s earlier RNSs repeatedly referenced Sandfire’s A4 and T3 discoveries as analogues for the geological model being tested on PL39 and PL40.

So the same company whose discoveries helped validate Galileo’s exploration model is now taking control of those licences and committing real money to drill them.

Galileo acquired the ground cheaply in 2020, identified PL39 and PL40 as priority targets, used EM to define the geology.

This has been 5 yrs in the making ...

I've been invested for a while Bottomsup. Funnily enough it was the licenses that they just agreed to sell that was my reason for buying in the first place. They are close to Arc Minerals licenses in the zone 5 area which is highly prospective. I've added another £5,000 worth this morning.

Great RNS this morning. Shame there is still a persistent seller unloading into the volume. Once the overhang has cleared hopefully we'll see the rise that today's announcement deserves.

SeisNav

You will be most welcome to join us with your useful skills in analyse of data etc

No Need to sell Ferber, its gonna be huge )

Great deal today, would of preferred the tonnage tied to the others , but nonetheless 3 mill is good enough for now, 253 will no doubt be drilled at some point and sold to cobre.

Our deal maker CB has been quietly working hard for glr, which became more apparent in the podcast the other day, cant knock the guy, he's top notch quality.

Still waiting on more news to come in regarding Molefe

Luansobe

Shinganda

Kimitavia

Well, CB has proven, yet again, that just because there is no news, it does not mean he is making deals in the background ;-)

I can see some of the $ going into the wider Molefe district exploration, and a % of that wider asset, to enable pushing of more ore through Sable. The rest will still focus on Zambia first - as that is where the mining licenses are and therefore can also enable earlier monetisation.

The JLP GM had two resolutions. The first one passed ans is the important one. It means they can convert the CLN into shares for the guy putting in a first tranche of $1.5m to accelerate Molefe.

Https://x.com/jubilee_metals/status/2065442124087042296

The implications are obvious

Could there be a buyout of an asset this year? The SP suggests definitely no but what do PI's actually know or understand. Although, we have 9 possible assets. This is the risks of an AIM exploration company. If we all could be certain of a sale this year then the SP would be closer to 3p. However, if people start thinking a sale is imminent then a multi bag will happen or if it happens over night then a massive rerate will occur.

BZT shows it can happen.

For me we just need sentiment to improve. If you look at the latest report, work was being done on the Luansobe licence late last year. BZT had an large mineral increase on the OP a few weeks ago which improves the cut off ratio on the mine. So improving the mine optimisation is still being worked on at Luansobe.

If you don't understand that a possible sale might never happen then GLR is not for you. In my opinion it will and hence I have a large stake in GLR

It couldn't be any clearer glr is at the back of colins mind at the moment... his not exactly showing us to think anything different imo.

At last

Conditional Sale of 2 Kalahari Copper Belt Licences for US$3 million

to Sandfire Resources Limited group

Galileo Resources plc ("Galileo" or the "Company") is pleased to announce that on 15 June 2026 it entered into a conditional share purchase agreement with Metal Capital Exploration Limited ("Metal Capital"), a wholly owned subsidiary of ASX-listed Sandfire Resources Limited (Sandfire), with Sandfire acting as purchaser guarantor.

The agreement relates to the conditional sale of its wholly owned subsidiary Virgo Business Solutions (Pty) Ltd ("Virgo"), which owns Botswana prospecting licences PL039/2018 and PL040/2018 (the, "Prospecting Licences") (the "Agreement").

The Agreement provides for an aggregate upfront consideration of US$3 million payable on completion, together with a potential one-off success payment of between US$20 million and up to US$80 million ("Success Payment"), subject to meeting nominated thresholds for contained copper in a First Qualifying Ore Reserve under the terms of the Agreement.

Agreed, we are getting there :-). In this case , you don’t spend money scraping the top of the ground off if you aren’t prepared to commit when the deal is right

Hi Simon I saw the photos you posted on the telegram group and to my mind very encouraging- one thing you have to have with these small cos is patience but if the assets are good it should be rewarded

Hi Cyber, thanks for sharing. On inspection of Shinganda with Sentinel viewer you can see 2 areas of excavation (not clear pics) in the approximate area of the 2 artisanal mining license applications. Things really looking promising for why you have reported

Also

Again using sentinel viewer, you can see extensive ground works at Luansobe. A very clear brown oval shape against a bright green background. Indicates to me the start of overburden removal leaving bare earth against a background of bushes. I will share on X tomorrow. I’ll also post now in the. Galileo telegram page

Thanks Cyberia for posting your findings and info, appreciated and helps in the overall picture of progresses.

It's likley to be test production pits at the moment(allowable) Cyberia. I see no small scale mining license on 22990-HQ-LEL (Large Exploration License) - lodged under Garbo Resources. However what you heard at the presentation, and what has been mentioned on the Roast Podcast is forming a picture for sure.

Ha! I did groan at that one :-)

Be careful JL or you will be sent to the punitentiary for that one 😉

My take from the roast

Luansobe is tied to Molefe and JLP, will probably be a deal there with the other licenses included ( jlp licenses)

Shinganda is nice to hear about fingers crossed

And on the presentation update sheet = 6.2km strike of lithium, now thats worth alot more than a 20mill offer

One question to ask is whether GLR has been late on delivery (yes), but shareholders have been early on accumulation before a re-rate. Probably too early with hindsight, but given the copper environment, the outlook, and the clear re-rating of other assets in the CB portfolio - it's the early Bird that catches the worm. I am sure there is a pun in there somwhere. I continue to accumulate.

090 paid

cash

Well done to those who topped up while are seller was selling a still at 0.7p

It looks as if we will see progress on several fronts this year if we believe what is said on the roast.

Happy holding 4 million shares

Marcel Nally:

Base metals delivered another mixed performance, with copper once again standing out as one of the strongest performers.

Copper rose 5.7% to $14,658.20/ton, continuing its strong upward momentum as persistent supply concerns and structural shortages continue supporting prices. The market remains heavily supported by long-term demand linked to electrification, power infrastructure expansion, AI-related data centre growth, and energy transition investment.

Week end prices shown are as of 17:00 UTC on 12th of June 2026

Copper Demand: https://x.com/robert_ivanhoe/status/2064350230376587457

HG agreed, Molefe is the ride up. Presentation to land shortly, watch this space

HG. CY, that’s exactly how I see it as well – you’re positioned ahead of the next news not chasing it.

If the joint Molefe presentation does what it should, it will do two important things:

1. spell out the scale and phasing of Molefe in a way the market can actually model, and

2. make it much clearer how value is shared between GLR and JLP.

Once people can see tonnes, grade, capex and ramp‑up on a single slide deck, it becomes much harder to ignore how big Molefe is likely to be.

You’ve averaged in before that re‑framing, which is where the asymmetry is: limited downside at these levels if expectations stay muted, but real upside if the presentation credibly underlines that GLR’s carried interest and future cash flows are larger than the market is currently pricing in. IMO. All good.

Now bring on some asset Sales as well Colin and that will be an exceptional re-rate.

I also bought a couple of tranches last week. The joint presentation on Molefe should show up later this month, which will hopefully put a different perspective on the value due to GLR.

And again the web is spun

I messaged a fellow investor in GLR yesterday and said that it can’t be a coincidence JLP moved addresses to a few streets away from GLR. Then today they are in the same address

I’d love to know what else was discussed in that meeting between Colin and Leon, I bet having the same registered address in London wasn’t top of the agenda.

MM64, you never miss a moaning opportunity, consistant I must admit !!

You never miss a moaning opportunity, consistent I must admit !!

They had the same registered office previously - Kendrick Mews etc

Significant Free Cash Flow from Molefe will negate the need for the scenario outlined on this thread. There may be additional cash flow from Ka$hitu, and obviously several other assets - e,g, Luansobe, Shinganda, Kalahari are ripe for a deal.

One sale/deal of the many assets in the portfolio will re-rate this very quickly.

Unfortunately another decade of scoping studies with discounted placings to pay for them.

Shareholders deserve better and a fulltime dedicated CEO

Colin Bird special. Are we going to see a genuine buyout of one of the copper/critical mineral assets this year, or is this just going to be another decade of endless scoping studies?

Chrisp you are 100% correct that the number of shares in issue at BZT together with further warrants seriously limits any potential share rise -yet you are perfectly happy for Bird to needlessly issue more shares and warrants here instead of using GLR assets to provide funds-in fact you censor anyone who point this out

Regarding our contingent funding agreement. Best part of a month since the first drawdown was available. I presume we have not yet made this drawdown as it would be accompanied by a share issue at the 5 day VWAP.. ..such a share issue by definition is market sensitive so would surely require an RNS?

The cost of the finance is currently 7.6% with a 1% fee. The loan is also convertible to BZT shares so dilutionary and the company gets over £1 million worth of warrants.

With the current zillion worth of warrants in issue BZT is going to go through massive dilution.

The shares will spike on the finance being sorted but longer term the company SP is limited in my opinion.

Colin now you've got funding secured over at bzt and that project is on its way... spare some time here buddy. Gla... it'll come, im sure minimum one dart sticks.

Unfortunately Olddrongo there is often a huge gap between what Bird tells us and what actually happens in reality

I agree Chri5p. Cut off grade will be impacted by Copper price which was much lower back in 2022. There will be some inflationary aspects to consider, but all things considered I would expect the cut off grade - the point at which it becomes economic to mine - to increase the tonnage we would consider worth mining. Huge numbers and a deal will trigger a massive rerate IMO. Time to get off the pot! :-)

So it begs the question as to why we haven't started production yet. CB told us 2 years ago we were ready

Good Man!

The Molefe JV is working well and being part of the report suggests we will have our,23.75% soon.

The Luansobe cut offs based on 2022 copper prices is compelling. When the pit projection is updated to 2026 copper prices the OP licence will be insanely profitable.

One interesting point in the new report is the information on Kash"Tu. Everything seems ready to actually start mining.

For me this latest report mitigates us needing an RNS update on all our assets and was what I was calling for.

Very exciting times on many aspects.

The Molefe presentation at around 3pm should be interesting for obvious reasons. I will be maxed around that time unfortunately but am feeling positive about what it means for GLR.

Molefe definitely doesn’t plug any near‑term funding gap for GLR – it’s a medium‑term funding engine rather than a short‑term lifeline. For now I don’t see any clear indication that GLR is actually running multiple drill programmes in parallel – the risk is more about how many they might try to push at once before Molefe cash starts to flow. If Colin decides to light up several fronts at the same time (Zambia, Zimbabwe, Botswana etc.), then it’s back to the usual mix of raises and JVs; a more sequenced approach would let Molefe mature into a $5m USD pa contributor and change the funding picture materially. Any other asset sale would also change things materially. And while we’re on the subject of priorities, we’re coming up to nine months since the (infamous) Luansobe September RNS – an update there would be very welcome, Colin.

Thanks for that JL, so c 12 months but when it comes it should be good. That does leave us with quite a big funding gap which brings us back to Luansobe or another raise over that period - hopefully the former

It's an interesting question Cybericchas.

My current base case is: $13.5k/t Cu price, 1.6% head grade after ore sorting (vs ~1.45% Cu at surface today), 85% recovery, and a steady‑state 3,500 tpa saleable Cu after roughly a 9‑month ramp (could be more). On that basis Molefe needs about 258kt ROM pa (~64.5kt per quarter), which is consistent with the 60kt+/qtr mine‑plan once the pits are merged and efficiencies kick in. Using an estimated $6k/t total cost (mine + haulage + Sable) gives c. 26m pa of project‑level cash at full run‑rate. Against the ~ $6m of initial Molefe spend that JLP wants recovered under its preferential earnings right, that’s theoretically less than a year of full‑rate cash to clear payback, though I still budget 12+ months from here to be conservative given the ramp curve and normal operational bumps.

We don’t yet know the LOM from a formal JORC (EOY), but the latest drilling and mine‑plan work make it clear the asset looks much bigger than first thought – if that’s borne out, the economics only get better. $13.5k/t might prove optimistic, but most signs point to us being in a copper bull environment rather than a bear. I’d also expect unit costs to fall further as additional pits are merged into a larger, more efficient operation and as the ore‑sorting kit is redeployed (confirmed in the JLP RNS) to upgrade feed quality (swings and roundabouts maybe). That also opens the door to further ramp‑ups beyond the initial est. 3.5 ktpa once the next phase of drilling is confirmed and more pits/tonnage are brought into the plan. Once JLP’s 6m is repaid and GLR is taking its full 23.75% share, that points to something in the order of $5m per annum flowing to GLR from Molefe alone on these assumptions, before tax and any extra growth capex

If Luansobe also take off - plus ore sorting etc then because we own a larger % then break out the bottle of champagne.

JL (or others) when is your ball park estimate for receiving first cash flows from Molefe for GLR?

Won't hold you to it or anything ! as I'm sure there's a lot of factors but tbf you seem to have a v good grasp of the situation there

Wishful thinking Datacheck.

I seem to remember something like that being said before when Glr has not been mentioned by Bird. Oh there must be something going on and there obviously wasn't.

Fingers crossed you are right.

It would have been easy for Colin to lump in a GLR update, I don’t believe he did as the latest info with GLR is information not in the public domain. That type of info might be a JV, sale, or re adjusting current agreements. Nothing signifies something for me

Trying to be positive, CB may not wish to comment on Molefe as its JLPs news to give and who knows a separate deal could be close - over the years by experience its often better if he's not chatting all over it on the Roast

On this occasion and many others... anyway just shared that's all. I got nothing to say, its all on here and the general market what the feeling of glr currently is. Gla

Yes, I did so and commented accordingly.

“Because the Roast podcast was not about GLR in any way”

Listen to the podcast and notice it was about the companies they picked to discuss, on this occasion GLR not being one of them.

Well that might depend if Bird can be bothered to put any Rns updates out here that Jlp put out.

Junior

It’s why I brought 4 million shares in March.

I wanted to gain from both companies

Onwards and very soon upwards.

The question will be will we see investors buying here or JLP or both on Molefe new Eastern reef.

jubilee metals (jlp) and galileo resources (glr) both provide exposure to the molefe copper project and the surrounding district, but from very different bases. jlp is a larger, diversified (exploring, producing etc) metals recovery and copper producer with a market cap of around £91.9m, where molefe forms part of a broader zambian copper growth three pillar strategy alongside existing processing operations and other metal streams. glr, by contrast, is a much smaller explorer/developer with a current market cap of about £12.5m, where molefe is one of several key value drivers. in simple terms, a smaller equity base means each pound invested in glr buys a larger percentage of the company and therefore a larger indirect slice of its eventual interest in molefe. the same pound invested in jlp buys a smaller percentage of a larger and more diversified business, where molefe is only one contributor to group value. on that basis, glr offers higher potential “torque per pound” to changes in perceived value at molefe, while jlp offers a more diversified and established platform.

it is also relevant that glr’s molefe interest sits within a multi‑commodity, multi‑jurisdiction portfolio for a company of its size, including near‑term copper at luansobe (come on colin), copper‑gold at shinganda, zinc at ka****u, additional copper targets in the western foreland, and lithium and gold projects in zimbabwe. jlp, meanwhile, integrates molefe into an existing and now expanding copper production and processing footprint focused on zambia. as a result, the “bang for buck” in glr is more concentrated and higher risk, whereas in jlp it is more diluted but potentially less volatile, leaving the choice between the two largely dependent on an individual investor’s appetite for small‑cap risk versus diversification.

a further question for investors is whether greater familiarity with the molefe opportunity, including the involvement of the new strategic investor at jlp level and the potential benefits this brings to jubilee’s wider copper strategy, may also lead some to look at galileo as an alternative, higher‑leverage route to the same molefe asset. i.e potentially more assymetric upside. given glr’s smaller market capitalisation and direct look‑through exposure to molefe, it may be seen by some as a way to gain a larger percentage economic interest in the project, albeit within a higher‑risk and less diversified vehicle. i would not be surprised if the new jlp investor also took an accumulative share interest in glr to get extra % of molefe.

all to play for. food for thought and all that.

“I think we can all agree that CB is very good at finding interesting and potentially very valuable African resources. The downside maybe is that he's too good at it and can't help adding and adding so now too many plates to spin.”

Hi cyberiachus, could add that it is Cb’s ‘job’ to ‘diversify’ assets across the group and within the seperate companies. I don’t believe it’s a case of trying to spin too many plates, more the case it is having more possibility to deliver a high value project which is essentially going to be down to the lead geologist to select the ‘best’ projects that have the potential to return value, to push forward with the confidence they can attract either market funding or command a higher allocation of exploration budget. Once he proves he can bring a mine to production, the market will have more confidence to start backing others.

Across the group there is potential now to bring a new mine into production every year, starting with 3 in ‘26 alone.

The appetite for investment is hotting up, GLR is well positioned to deliver

I agree Cyberiachas.

For me the priority list is very simple:

a) Get one or two GLR transactions signed on terms that clearly crystallise value for existing holders. But not at any price. Some have huge value.

b) Lay out a clear 12–18 month plan for GLR only – what’s being advanced, what’s likely to be farmed out, and what’s being parked.

c) Make GLR updates about concrete milestones, not just possibilities.

If CB can give GLR that level of attention and discipline, I don’t think we need another ‘blockbuster’ – the rerate should come from finally delivering on what we already have.

I think we can all agree that CB is very good at finding interesting and potentially very valuable African resources. The downside maybe is that he's too good at it and can't help adding and adding so now too many plates to spin.

I do think that once BZT financing is agreed that project will start to take care of itself. Likewise KEN is now cashed up to produce the Q3 MRE, AFP probably on the backburner for a bit so it should be time for him to fully focus on GLR and get a deal or two done for us - that's the hope, rather than searching for the next "blockbuster"

My thoughts too JL. BZT at £20m Mcap and even above recently on less than what GLR has. KEN Also. GLRs value will be recognised at some point. accumulating until then. we should effortlessly just be sat at 1p as standard.

Junior. The market has had years to recognize the trigger. That's not the issue. Bird is the issue. Yes KEN will be a success, probably, but in spite of, not because of, Bird

Next week I reckon.

Can't be long for the presentation