Galileo Resources PLC Share Chat (GLR)

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

The account Galileo use is shown on the website. It’s poor that they are not using it - but they are using CBs personal twitter account shown on the website.

I just happened upon the Galileo X account and the last post is from 2016.

Maybe someone at the company should deal with that , better to close it down if there is no post for 10 years

When people talk about a “copper district”, they’re not talking about one pit – they’re talking about a cluster of pits.

Think: a defined area where you’ve got a series of copper deposits and prospects along the same trend, close enough that you can share roads, power and, crucially, a central plant. You don’t build a separate mine and plant for each little orebody; you truck multiple shallow sources into one hub and run it as a system.

That’s the whole point of the Molefe discussion. If it stays a single merged but growing pit, it’s interesting but limited. If exploration starts to pull out a string of near‑surface deposits within haulage distance of Sable, you’re suddenly looking at district economics – longer life, more tonnes, and the ability to keep the plant full by rotating pits over time.

This is exactly why the recently announced strategic investor in JLP is getting involved. They’re not coming in for a one‑off Molefe pit; they’re taking a toe‑hold on district‑level optionality – the chance that Molefe plus its satellites becomes a proper hub that can be scaled over time.

And from a GLR angle, it’s worth remembering we will soon hold 23.75% of Molefe, while the new investor only has exposure via a percentage of JLP’s interest in Molefe, not a direct slice of the mine itself. In other words, they’re buying into JLP’s share of the hub; we’re directly leveraged to Molefe at the asset level if the district thesis comes good.

I am not convinced the market understands this. Maybe the Molefe presentation in June will help.

The new investor into JLP has in effect validated the strategy for Molefe - the hub and spoke model. Molefe is not a side project for JLP or the investor, it is clearly the most important pillar in their three pillar strategy at present. That was the focus of the RNS and the reason the investor is putting money in. The investor is making that clear. A credible funding and operating partner will soon have skin in the Molefe game in the very area where GLR will hold a 23.75% interest.

If the Molefe district thesis works - and it seems logical to conclude that the investor believes it will, the logic becomes

1. Sable needs long‑term feed from multiple near‑surface deposits.

2. Molefe and its satellites cannot supply everything forever.

3. The lowest‑risk additional tonnes are those that can be trucked to Sable and de‑risked quickly.

It's independent validation of the opportunity at Molefe.

For GLR, that opens several routes:

1. JV or farm‑in deals where GLR ground is explored and, if successful, mined as satellite pits feeding Molefe/Sable.

2. Royalty/stream or carried‑interest structures that let GLR monetise discoveries without having to fund a plant.

3. A higher probability that any GLR copper hit in the broader region can be commercialised faster, because the processing solution already exists.

In short, every metre JLP drills at Molefe with GLR and their new backer, and every tonne that goes through Sable, raises the strategic value of GLR’s potential feed‑type assets in the area.

In Summary

1. Molefe funding = Jubilee and a mid‑tier copper house (IMO the investor is a team not an individula) starting to build a district, not just a pit.

2. Sable gives that district a ready‑made processing home.

3. As that hub grows, GLR’s nearby copper ground and JV interests gain option value as future feed into a funded, derisked system.

Everything to play for folks.

JLP RNS ‘In line with this strategy, Jubilee has secured a US$1.5 million unsecured convertible loan note investment specifically designated for the accelerated development of the greater Molefe region (refer to the announcement dated 28 May 2026). The investor holds a successful track record in the development of various copper projects and formed part of the team behind the development of Mantos Copper and its subsequent merger with Capstone Copper (Investor). This initial investment reflects the Investor's keen interest in supporting Jubilee's copper exploration and mining strategy in Zambia, including the development of the greater Molefe region, beyond the current mining area.

Great for us - as it does not dilute lit Molefe interest. :-)

Well that is May done and still no update. Hopefully something better before Q2 is out 😕

Yes JL I wasn’t meaning to suggest GLR were sharing these increasing costs. However these costs need recovering by JLP before GLR shares profit so the increasing costs push back the timeline for GLR income.

HI BS, the accounting for Molefe will be separated out as it’s a JV. JLP will get back their original investment and then the profits on Molefe will be shared in proportion to the JV agreement. Interestingly JLP just got a £deal - the focus on Molefe is clear and to GLR’s benefit. All good.

With JLP costs soaring it will be a while before we derive income from the current agreement. Likewise Ferber ..drilling has yet to start I believe. Seems Luansobe is our only path to avoid further dilution. How far Has the dashed hope of Feb agreement put us back? The Co needs to update us pronto

Re edit the majjor to a investor

There have been a lot of patient investors on this board. Frustrations are bound to happen when there is a news vacuum. There should not be a news vacuum with the assets that GLR has. It's PR 101. I have continued to accumulate below 1p but have also been holding my nose while doing so. The PR team is not a PR team with the capabilities that shareolders require. Nevertheless the assets look great on paper and CB has done well on getting them. Several mining licenses exist, and Molefe will be a cash cow at some point. Colin - please provide an update.

Exactly FS!!

1p is my personal “comfy spot”, I buy at less. My expectations on just Luansobe alone will send us multiples of 1p.

Im sure theres several people that have contributed to Daves exit.

Data is not alluding to a full deal but a early tie up news, the start of the beginning, the mining collaboration will make the sp look similar to KEN, a sale would be a high open followed by a constant drop in sp.

Expectations are high, so dont try n spin that 1p is the target here coz we all know thats bs

Datacheck -how share expectations have dampened.

You now appear to think that a LUANSOBE agreement will get the share price above a 1p.

Not long ago the shareprice was above 1p (before the totally unnecessary dilution and the strong possibility of mote dilution) and people were looking for a share price of 3p to 4p on a reseaonable Luansobe deal.Shows how a lackluster leadership destroys shareholder value and expectations

Our resident Bird cheerleader Chrisp puts the continued share price fall down to a thin market.

Why is there a thin market-lack of progress on many fronts,continued dilution and continued silences from our very part time CEO perhaps

Something going on in the mining Cadastre on Luansobe. Also the other Cooper license is at “Bidding”. The 2 were applied for at the same time and also at one point confused with each other when granting the small scale mining license. Imo this is sign of movement. One bit of news about a shortlist of partners or a deal initiated will see us jump back over 1p. Shinganda also got the 2 mining apps at “Lending MLCc Decision” for a while now, they can’t be far off

Looking at his 17% shareholding in KEN one might be tempted to suggest his priorities may be elsewhere. Heaven forbid.

Quick, everyone look at what's happening here. Good times are coming. Whoop whoop whoop. We've got assets galore, licences, deals done with nearby plants. We're on a roll. The most amazing board. We're lucky they're working for us and not somebody else. Absolutely swamped by good news coming in. This is where it's all happening. I just don't know what price to sell at.

Phew, I'm whacked. Maybe I overdid the good vibes package. Just trying to follow someone's advice that we have to project positivity to lift the share price off the floor. Hopefully we should be ok now (but please do your own research on that).

Been an appalling investment.

He should hold his head in shame, yes, but I doubt he loses any sleep over it. The evidence is clear.

The fall in the share price continues —Bird should hold his head in shame and resign so that someone can be appointed to run the company properly

People can post all they like about the booming copper price but Bird seems totally incapable of using it to boast GLR performance .

He seems to have given up here -not even any “hot air” interviews lately

C’mon GLR do something to support this share price

All the projects that GLR have including Molefe is 100% down to CB.

Low sentiment here lies 100% at Bird’s door

No one should invest in an AIM company expecting to retire on the proceeds. It is utter madness and then to knock the actual share in question lowering sentiment is double madness. I retired at 55 from investing from and only from the stock market but I chose to retire after the money was made not before, counting your chickens and all that.

Very funny-early retirement due to GLR.

The pace at which Bird is apparantly progressing things here most investors will be lucky to be above ground or in an OAP home before any shareholders return occur here

100% agree-we need a full time CEO running the company and not a part time CEO who appears to treat GLR as a hobby and obviously does not give the dedication and the hours that shareholders have the right to expect from their CEO.

Let's get Molefe wrapped up, no need to shout about it before we actually have a piece

Luansobe we are owed an update 100% regardless,.unless its connected to Molefe, if so after we complete we are owed an update

If Bird has nothing to say after he has been in negotiations on the company’s projects for over a year he is either not doing a good job,his mind his elsewhere or he is totally incompetent.

The only things putting pressure on the shareprice is missed deadlines and non delivery

Just an RNS update with nothing new to say puts pressure on SP and so the price falls. However, updating the website if there is no RNS news should be done monthly.

I know I can be pedantic. Spectrum city.

1. "Nobody knows until the company updates us." - True

2. "What we do know is that the hope to finalise deal by Feb fell through." - We know it has been missed, but we do not know if the deal in total has fallen through - but to take your point, that requires 1. to be fulfilled by the company.

Either way, updates are long overdue. For those who do not require them should not mind if an update is forthcoming.

Nobody knows until the company updates us. What we do know is that the hope to finalise deal by Feb fell through.