Member Info for Coyote2020

Central Banks everywhere have been buying physical gold in abundance for years as they could forsee a possible future change to currency denomination, first mentioned here in Nov'23 at around US$1820/oz.

The Bitcoin hype has proved to be just that as investors are down some 30% relative to gold and are now turning to gold stocks.

Gold 'in the ground' has never been so cheap or so valuable for decades.

Great interview.

US$3198.

US$3086

Finishes the week with a new record high.

Around the last turn, one obstacle remaining then the home straight/stretch/final furlong and the finish line.

Later next month Lanstead are due to make their closing holding notification (RNS), less than 4 weeks away.

The market doesn't like uncertainty but now all information is known with this closing statement, the sp should recover. At which point the BoD and management will also have a miraculous recovery and be perceived as the best thing since sliced bread no doubt.

All imo.

Shinganda, sometimes known as the 'dark horse' is as high on the list of potential monetisation assets/prospects as any other in the Galileo portfolio. A deal, JV or any other scheme of arrangement could take place as early as next week should a suitable partner or purchaser appear on the scene. There has already been interest from third parties, an academic was requisitioned by a Major to assess the Phase 2 drilling programme also, feedback from this year's AGM that Shinganda had been under offer at some point.

IOCG, the prize with this asset remains illusive at this time and requires further drilling. However Moxico holders of Kaoma (25726-HQ-LEL) due north and north westerly Kamikochi (24276-HQ-LEL) of the Shinganda licence take a similar view the geological structure found at the Kitumba mine (IOCG) trends northwest and could include these licences.

Galileo is an explorer/developer not a producer per se.

Correction - less than 0.3% of total issued.

19 trades for circa 3 million shares from a 1.163B total, less than 3%, with the sp down 17% is a buying opportunity. The price should correct tomorrow.

US$3058 overnight.

The war is having an effect on market sentiment and is fluctuating back and forth, risk-on, risk-off even on a daily basis but there are signs the market for junior's in the mining sector are beginning to improve.

The Lanstead agreement, two years is a long haul admittedly however, should Lanstead repeat their notification as of last year, late April will be the last entry of 175M shares remaining or 4.5% by my estimation. No vast amount over the next six months not forgetting any sp recovery if needed will be priced-in long before then.

Oriole have produced sixteen RNS's over the last four months, one a week average, so no shortage in news-flow. Mbe maiden drilling only 30% complete and Bibemi updated MRE to half million ounces?

Oriole do appear to be taking a similar path at this time from pure exploration and accumulating ounces to development (DFS) maybe. Cora are further along this track and an ealier m/cap of circa £80M offers some guidance to a possible future direction.

My view is however, Oriole will stick with exploration adding ounces from multiple pits and therefore multiple MRE's starting with Mbe and develop the Gold District concept. Time will tell.

Say for the purposes of this posting the Luansobe open-pit prospect has a JORC proven resource, optimised pit design, permitting, environmental, the rest completed, and a decision to mine.

From my calculations 5.8mt of ore over a 10 year LOM equates to 2231t per day for a 5 day working week.

Using a Caterpillar standard 140t (payload) dump truck, 16 trips would be required to the Mufulira Processing facility around 6 miles from the open-pit over rough ground for toll treatment. Say 4 trips per truck per day equates to 4 trucks plus an excavator for loading.

56kt of contained Cu over 10 year LOM is 467t/m × US$9600/t = US$4.48M (75% or $3.36M to GLR, 25% or $1.12M to Statunga) gross revenues per month.

Even after costs, tax, etc, would leave a substantial amount for reinvestment back into the Galileo portfolio.

Bulawayo Gold with the price at US$3000/oz needs investment now. Kamativi and a Lithium recovery due for next year needs investment now then any future collaboration could be negotiated into a rising lithium price. Zambia's N W Province and a discovery on 28001 would send the region into overdrive along with the Galileo share price. Shinganda, KCB.

I'm up for a dump truck, that leaves 3 other dump truck drivers and one excavator operator. A 5 day week, weekends spent at the Kafue National Park watching the lions and tigers as recommended by Cooperlemon several podcasts ago. Any takers? and get this show on the road. Lol.

Looks like a couple of decent buys (2 × 2.5M) late this afternoon. C O R A gold who have some similarities or parallels to ORR are on the move. A £20M m/cap and rising makes Oriole an absolute bargain.

US$2955 today.

US$3000 before the next set of Mbe drilling results next week?

Correction - US$2909

US$2809

Made US$2944 overnight.

The 155k ozs @ 1.26g/t Au JORC resource was brought about by T.L using drilling results from the Stratex days for Fare South only excluding North and Far South and has not been revised or updated since.

The most recent DD at Fare was to develop the Far South section. An early fence line gave 35m @ 3.61g/t Au. A follow up fence line heading north towards Fare South gave 5m @ 12.45g/t Au (0136) and 12m @ 0.62g/t Au (0137) but was never progressed further to test the short remainder between Far South and South.

A few holes in this short section could prove highly lucrative should Far South and South connect up making for an open pit in excess of 3km long.

Oriole drilling with Managem contributing 59% share of the costs would be an excellent ROCE for Oriole imo.

Added a few more today.

Whether it's ducks or stars they are certainly lining up.

Seems like easy money.

There is a JORC compliant inferred resource of 155k ozs from memory. Any increase and Oriole would be quids-in.