Member Info for CaveatEmptor

Agreed, Oiltap

I just topped up at 1.16p - so it will show as a sell.

Was yesterday a bank holiday in Australia?

Drills still turning, or has CB overslept?

I agree, Oliver - I have dipped my toes there too. But best keep the XTR board for XTR chat?

Hello VB - it doesn't look like you have done much research into the history of the company ( particularly pre-IPO)!

It would have been difficult to surrender £1M worth of shares to his wife in a divorce settlement if what you say is true....

Last time I looked, CB had about £10M invested in GLR ( investments, not options) - how much more does he have to put into the pot to prove to some people that he is committed to GLR?

All juniors go through quiet phases whilst the ducks are being lined-up in a row behind the scenes - for those companies that are successful in pulling everything together the rewards can be phenomenal - and my guess is that is exactly what CB hopes to be able to do.

CB told me that there was absolutely no way that he was not going to make a handsome profit on his investment here - and the SP would need to multi-bag several times from this level just for him to break even - so draw your own conclusions...

With sells going through at almost 3.8p for some time now, I don't understand why the MMs insist on keeping the bid at 3.6p?
-Just their usual games, I guess...

Sorry - that should be 3.9p - but 4.9p would be good...maybe next week?

Must be high liquidity today because you can also easily buy 500,000 shares for less than 4.9p - so plenty of shares available both to buy and easy to sell?

It is my understanding that an pen pit is viable up to about 600-650m. and that even 100-200m of strong mineralisation to the SE would greatly improve the profitability of the known resource. This being the case, they would keep drilling to around 450-500m, even without significant shows of mineralisation.

If that large IP anomaly detected in the survey turns out to be the correct sort of mineralisation then I don't think we will have any problems with the drilling being stopped early.

So, from that perspective, I completely agree that no news is good news.

Or maybe he asked his mates at Novum Securities to get as many shares as they could for a total investment of £72,000?

Whatever the reason, still a very welcome investment that shows his confidence in a material way.

He is certainly building his position here - He has quite a lot of skin in the game now...

Roller coaster may be a better metaphor than fiesta? We would have to be unbelievably lucky for every assay to give good results - so more likely to be a bit of a bumpy ride for the rest of this year - however I am also expecting a general upward trend in SP - just not in a straight line, is all...

As we haven't yet had an AGM the accounts have not yet been approved - so the 12 month period without any fundraising hasn't started yet...

Funnily enough, I still think that Sandfire's significant subscription to the company earlier this year at an SP of 2.68p, has been missed by the general market.

Sandfire are no fools - they are a billion dollar company that knows what it is doing.

Take the recent Sandfire subscription in African Pioneer - they purchased 15% of the company , at launch, for £500,000 - this would value the company at £3.3 million - but the equity fund raise at launch was at 3.5p, valuing the company at £6.6 million - so Sandfire effectively bought in at a 50% discount.

I think this shows that Sandfire is not the type of company to pay over the odds for anything - which means that Galileo must be worth at least the 2.68p that they paid for their shares.

How long before the SP catches up once the penny finally drops?

Does another 6% rise, early doors today, mean that market sentiment is at last changing here?

-One for Prickly, methinks...

A little 4% movement in the right direction again today - slowly, slowly, catchee monkey?

I think that was when he mentioned that Fair Bride production is now expected in Q4...