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Rewards massive or zero, shareholders have the right to expect things are moving forward in a timely fashion, unlike what we are getting here.
Brilliant Prospector99.
Just what was needed to lighten the mood as the share price heads back towards a penny piece again.
Yeah this is going to be producing in September 🤣
Prospector - Made me chuckle that :) Thankyou
Come on Colinbird, don't let us down on Luansobe! Cash is king, and we want some rolling in now.
An ornithologist writes:
The Colinbird is a curious species. Known vulgarly as the Lesser Baldheaded Chiseller, it was thought to have originated frrom the North of England, but has since migrated to the more luxurious resorts around the Gulf states; a habitat much more to its liking, and where it has flourished. Noted for its sudden outbursts of incoherent song of which few can make any sense, it then becomes totally silent for months on end. In the past it had repeatedly made a distinctive noise, roughly sounding like "CooCooCooofmycareer" but now seems to have abandoned the cry. It occasionally performs its song for an ever-shrinking band of admirers, who agree that the experience is "most encouraging" adding "Good old Colinbird". Others however disagree completely and feel that the song has become tiresomely monotonous.
Although expected to be seen at certain times, it is often late and sometimes fails to appear at all.
At this time, the Colinbird has produced no issue whatsoever.
You need to calm down BS. This is junior mining. Maybe a cash ISA would suit you better. The rewards in junior mining can be massive. They can also be zero.
Https://www.visualcapitalist.com/sp/visualizing-the-copper-investment-opportunity-in-one-chart/
Whilst we wait...what about all of those other assets...sale/JV of 3 by end of Q2?? Cat in hells chance.. but any news on exploration results or plans would be most welcome by all owners of this company. May even give the impression that we are not some seat of the pants outfit and attract more investors.
The company will want to a) receive the official confirmation from the ministry and b) have its own lawyers give it the once over. The artifacts submitted as part of the mining license application are quite comprehensive. Once we have the RNS I would expect some of the approved material to be released and full steam ahead. CB mentioned he was following protocol and that it was good news - which it is. The herd might want to see other things before they ‘believe’, others will look at the probabilities and think they have enough information already to conclude the RNS will be along shortly.
The NOMAD will have told them, not advised them, not to issue the RNS until they have the hard copy licence, signed, in their hands. It is just pedantic but that is what NOMADS do. They are known in the trade as Business Prevention Units. Don't worry . The title has been granted. Of that there is no doubt. Galileo is about to grow-up and be the centre of attention.
Thank you Analytical. No RNS though. Should we have to rely on you to unearth this important news. Grateful though we are.
Prickly. In the portal type the license number 34543-HQ-SML into the search bar. Statunga is the partner - they own 25% GLR owns 75%.
Granted 24/4/2024.
https://portals.landfolio.com/zambia/
Be breathing back into some AIM resource stocks. Just need old Galileo to follow suit now. Then hopefully some cracking news can drop for a well deserved re-rate!
Keep scrolling it's way further down
Analytical
Could you please show where the application has been approved. All I can see is deferred. Am I missing something?
Ahh, thought it GLR was expecting an update. Cheers
From memory, they discuss their visit to Luansobe, Shinganda (nice copper cores) and Silverking at the intorduction. Then near the end say they will do a full update next week to include NW Zambia. It is a paid for presentation so the usual caveats apply, but should be worth a listen.
Flipper, at what point do they say full update next week? Save me listening to the whole thing. Cheers
Approved in the MLC minutes - https://www.mmmd.gov.zm/?p=2794
Approved in the Cadastre for 10 years. https://portals.landfolio.com/zambia/
License 34543-HQ-SML
And copper price looks great: Https://www.livecharts.co.uk/MarketCharts/copper.php
Tick tock indeed...
The application requires, amongst other things:
Note: https://www.mmmd.gov.zm/?page_id=1227
1. Proposed programme of mining operations (should include forecast of capital investment, the estimated recovery rate of ore and mineral products, and the proposed treatment and disposal of ore and minerals recovered)
2. Description of the mineral deposit in area over which the license is sought
3. Statement of duration for which license is sought (not to exceed ten years)
4. Approved Environmental Project Brief (EPB)
5. Any other document as the Director of Mining Cadastre may request
Once GLR's lawyers have checked the confirmation from the ministry and given the nod, and an RNS is published by GLR, I reckon we are then onto disclosing elements of the plan that have been approved. No point publishing it without approval and therefore subject to change. The only slow down in publishing could be to do with contractual arrangements with third parties. All IMO.
Todays Sunday Roast has a few comments on Luansobe. Shinganda and Silverking (XTR)
https://audioboom.com/posts/8500425-sunday-roast-featuring-jason-starr-chief-executive-of-dillistone-group-dsg-atn-cgnr-kav
A full update in the next week.
The Luansobe open pit ore is 1% Cu overall. The cut off grade - i.e break even point for being economical is 0.25% Cu. Therefore theoretically 0.75% is profit. Rule of thumb is to double cut off grade to be prudent. If the cut off grade was > 1% then it would be uneconomical. Clearly it’s economical. If it weren’t they would not have applied for a mining license.
What is 0.25% ? Certainly not Luansobe. Most of the ore is >1% and will be highly profitable in a rising copper price environment.
0.25% cut off grade. I.e break even point.
The JORC helps. As does the approved mining license and the extensive artifacts submitted as part of the application.
You need to plan the hole is economical before you order the shovel!
BS I think GLR had a number of plans and offers but until we had the mining license they were all theory and subjective. Hence, no information in detail. Now we have the mining license it is time to negotiate and realise the plan. You can't dig a hole until you possess a shovel.