Member Info for CHRI5P

Mr Negative From 26th Jan RNS

Application to trading on AIM: Application will be made to the London Stock Exchange for a total of 41,100,124 new Galileo Shares to be admitted to trading on AIM, being Sandfire's Shares ("Admission") which will rank pari passu to the existing ordinary shares in the Company. It is expected that Admission will become effective and that dealings in the new Galileo Shares will commence at 8.00 a.m. on Tuesday 9 February 2021. The issue of the shares will be made under the Company's existing share authorities.



Total Voting Rights after Share Issue: Following the issue of Sandfire's Shares, the Company's total issued share capital will consist of 889,801,317 Galileo Shares with voting rights. The Company does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares.



On Admission, the abovementioned figure of 889,801,317 Galileo Shares (the "Enlarged Share Capital") may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Galileo under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

SFR already gave the GLR shares

Maybe you should repost in 9 months time and we can all tell you we should have taken your advice and sold out

2022 is still 9 months off so this post is pointless

Yes this is a strong buy and I have purchased 2 million shares over the last 2 days.

From the copper license sale RNS:

i) 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.

So Sandfire owns 4.62% of GLR and they paid 2.68 pence a share for us! We are worth at the very least 2.68 pence and I think this company is one of the cheapest stocks on AIM because the ability for this share to multibag on the drilling is absolutely huge. Mentioning no names but other miners seem to sell over half their mine to get investment and end up with a small percentage of the mine. This could be massive. No more placings and many opportunities - I still think Glenover and the rare minerals will also be massive one day. All very good indeed

Datacheck I agree as well and we know CB likes a deal

I honestly believe CB is in a rush to get drilling and prove the copper in the ground while copper is hot. Zinc is not hot and the sale price should mean no dilution for now. We will not think about the Star mine if/when we find we have copper in abundance. Sometimes you have to focus on the prize and in GLR's case it might be worth quite a lot.

GGP can't be the next big thing it is already worth a billion - daft comment who ever made it - it might go up a bit but it is definitely not the next big share

GGP far too expensive and no proven resources - also gold not looking too good - it is a sell

I bought more yesterday - lithium up 45% so far this year.
BCN is not only a share that could rise substantially it is also de-risked with the funding mainly in place. I see this has a long term gem and would be surprised if we don't see a steady but continues rise from here. Additionally, only around 15% of the stock is owned by PI's so any good news and this share can go up quickly.

Michael26 that is very positive - sadly no one is listening.

The SP is very disappointing I have to acknowledge that even though it is still up 65% from the consolidation which many PI's apart from myself, shed, CJ and BrickSA said it would be the end of the company rather than just a mathematical one. So why is the SP not responding to the good news over the last 6 months - I realise BB and gang blame management. I agree that could be the case pre-consolidation but since July they have done well considering what they were faced with.
After consolidation beginning of July the SP and Zinc our main resource was on the floor and this is possibly when the BOD thought that would need to raise money to do more work because with what they had in the ground and the price of the resources would make it difficult to fund the mine. A few weeks later both prices rose and management were able to raise funds of £2 million IMO to beef up the resources to make funding the mine construction a possibility. Zinc is up 40% , Lead 20% and silver unchanged since July put together IMO the mine is now a goer at these prices you just have to look at the private report made public this Autumn.

So over the last 6 months:
We raised £2 million at a price of 12.75 which our biggest backer was willing to pay
Our main resource is up 40%
A private report on much lower resource prices shows the cost of the mine will be paid for in 4 years and the value of the mine is around £150 million.
We've employed a banker and the PFS will be done hopefully this time next year.
The drilling could enhance our total resources.

Everything looks great bar the SP.

IMO it is all about AIM and the complete inefficiency of the market relying on arm chair investors to understand if an investment is worthwhile or not. You have PI's evaluating graphs and buying a share because it is going up with no recognition to why it is going up just it is going up so you should buy. EUZ is sadly completely out of favour and it is far too small for an II to get involved which also begs the question why DB is involved unless they think this is an absolute bargain.
One day the PI's will buy EUZ because it is going up and when that happens like in July last year and I think BB said and I agree with them the real idiots start to post and come out of the woodwork and we will realise we were in the right share after all.

My view is that the the results won't disappoint because we are trying to add to what we already have (SP doesn't reflect what we currently have at the moment anyway) but the importance of copper could be huge because PI's don't look at the detail - if they see we have copper they will just try to get in. Gold miners are always more expensive than other miners because investors have a sweat spot for gold and they feel that it gives the diversification. If we can show enough Copper in the ground then watch this SP fly.

I still think the assets in the ground will come good and with the huge rise in commodities we are sitting pretty.
However, I do think IG index decision to not trade some stock is important. For, instance I can buy EUZ on IG Index but not EUA. So if traders who do use spread bet companies close their long positions they cannot reopen them. This will reduce volatility and the share is less likely to spike. It will also effect the SP short-term. Nevertheless, I think IG Index who match their long positions in the market by buying the share in the market are saying the risks of people all going long at once are to great and that they will not be able to match them in the market, hence they will lose money. The potential in this SP is still huge and every commodity trading day we are worth even more.

Greatland Gold only have inferred resources - so lots to go wrong their but they do have a backer.

Good to see you back BrickSA and Shed does BB thinks he can influence management - what a plonker. The banker was always the next step and before the PFS to see where the funding will come from. LR might also have wanted to mention part of his mandate of getting value for shareholders but that is window dressing - he can't believe running a company with such an abnormal bunch of shareholders who don't like the management and think EUZ is a bad investment. The BOD are doing a good job and I am very happy with them.
On a personal note Shed I didn't feel safe putting my email address on this boarder with all the crackpots on here. Finally, myself, wife and 2 children have just got through Covid 19 - a very nasty thing to experience. Good luck for the weekend and maybe next week we will see some progression in the SP.

10baggerT I supported the placing/dilution at the point of the RNS so you were not the only one but there were not many of us.
I believe base metals are going to keep there upward trend and by the time of the PFS the NPV for the funding will look pretty amazing. The FT had an article on the start of a new commodities boom this morning, basically saying what myself and shed have said for the last 6 months. Shed let me know if BB stops the same repetitive moans he's posted for the last 8 months and I will un-filter them.

I have 4 posters filtered and this is the only board I have had to do that on. It is such a shame that we are infested with all the n*b heads running down a company they are supposed to be invested in. If the company is run so badly and you obviously don't need the money why don't you just sell out and give the money to charity. I can't believe how many positive RNS's have come out since the consolidation and we are up from 5.5p to 10.25 (up 86%) - you cares what happened before June - I do know the price of Zinc had fallen from £3,500 to £1,800 in 3 years under those statistics any mining resources would need more tests and to be proved up to make the project worthwhile. Why can't the n*b heads move on and let PI's have constructive dialogue. The banker coming on board is IMO to facilitate the funding- Shed thinks this could be too early because we do not have the PFS completed but I think this is just about the right time because the PFS is not far off (a year is not long in exploration times). In October we had the repot on the updated NPV, the cost of the mine and how many years it would take to pay the capex of the construction of the mine off (4 years). So getting a banker before this would have been absolutely pointless because the company didn't have the data to require one. The company is so undervalued in terms of a valuation of £5 million and the huge potential with over a $billion of proven resources in the ground and that could be just touching the service and is why LR IMO decided to concentrate on EUR and resigned from BZT. I have made a fortune in EUA which was similarly undervalued and the SP pummelled into the ground for no other apparent reason than, lots of placings and PI's who sell because they don't know what to look for (if a SP goes down it is crap and if it goes up you should invest). The institutions don't invest in AIM mining companies valued under £50 million so PI's investing in them is like the blind leading the blind. I can see we have at least 4 blind posters on this board.

Good luck BricksSA we know what we have and come back when we multi bag

Dando some organisation will by on the placing and sell the next day for a quick profit, like TP said some will have agreed the price a few days ago and forward sold so they will win big and some will think this is a buying opportunity for buying in without effecting the price. This is AIM mining and there is no other way of raising money for a company that has no turnover/profit yet.

Once the overhang is sold from the placing which I do not think will nor last long because the fundamentals are great and this is backed by institutions this will share will fly. All good news today.