Member Info for Coyote2020

J.P.Morgan have forecast US$6,300 for this year.

With an average AISC of around US$1250/oz + Oriole's current (ounces in the ground) of $10/oz any economic assessment as to the viability of a prospect, based upon $3,4 or 5000/oz is no cause for concern. Based upon say, $1500/oz then maybe but the likelihood of the safe-haven asset returning to those levels in times such as these is remote to say the least.

Looks like you have bought in on the 'bid' side JL when it shows red.

" I promise not to post on this page until the 16th February"

More broken promises Levi.

You should take a position as Chair of a company, you could have a field day complaining about yourself. Lol.

Google/AI overview the above and Galileo Resources is highlighted.

Holds a significant interest in nearby licence EPO 1783 with high priority lithium - tin - tantalum targets.

See Galileo RNS dated 19/4/24 for details.

10 hole reconnaissance drilling with lithium discovered in every hole.

FS, try RNS dated 19/4/24.

5 targets, the first of which has reconnaissance drilling for 10 holes identifying lithium in every hole.

They say buses arrive in 3's but here it could be a convoy.

to add...

Ferber - drilling programme Q1/2.

Shinganda - licencing/Jv update - anytime.

Molefe - progress update.

Licence renewals at Bulawayo and Kamativi should be a focus for attention, gold price at US$5,500+, tin price at US$56,500, lithium is making a comeback and rare earths/tantalum are hot property.

72 trades and improving daily. It's a pity share price increases aren't linear, a 1% increase (CAGR) for every working day between now and Christmas gives a sp of 9.86p.

This stock has been left out in the wilderness for a very long time. All about to change?

58 trades, that's more like it. The more people that know, the more people get to know.

Gold at US$5000+ and forecast to go higher the Majors, like everyone else are looking to increase their exposure to this commodity. Zijin, China's largest miner have put in a bid (US$4Bn in cash) for Canada's Allied Gold. One day, the Majors are going to turn their attention to the explorer's and add to global inventory and not just move it around.

Someone who can recognise unrealised value when they see it, I would say, tbcx.

Back to the benchmark 1p this week then upwards from there. This company has been totally off the radar for 5 years+ whilst building an impressive portfolio of nine exploration/development prospects located in Zambia, Botswana, Zimbabwe and Nevada, USA, all of proven high prospectivity. With forthcoming, near-term catalysts, Galileo's time is fast approaching.

There is no direct comparison between these two prospects JL. The Luansobe licences are fixed assets under development 75% owned by Galileo. The Molefe collaboration is a mining services type contract whereby Galileo are supplying services in return for a fee, in this case 23.75% of the profits for the LOM when presumably the asset will be worthless. Makes for a balanced portfolio as the prospects are not all the same type/risk and allays any fears of repetitive capital raisings and the resultant dilution.

Project 'G' could be next and another revenue stream for Galileo.

For context, cross reference the Galileo drill location plan in today's RNS with AC and RC drill results for Kitlanya West - RNS dated 29/11/23 (Cobre Resources). A test for anomalous copper at the bedrock contact below cover as well as determining underlying lithograph, stratigraphy and cover thickness, key for understanding the position of potential copper-silver bearing trap-sites and in particular, Fig 3 showing anticline hinge targets, KGORI, KGOKONG and THOLO in-line with the Galileo drill hole.

Galileo have confirmed copper enhancement occurs between 66m and 115m for 5m @ 0.34% Cu from 79m including 1m @ 0.84% Cu.and lies within the Dakar Formation Silkstone.

All on the same page it seems, the first hole, a scout hole and a great start.

A possible scenario for sure, JLP have carried out metallurgical test work on Luansobe so they know what's there. Bearing in mind JLP are processing/refiners might be more interested in resurrecting the 'slag dump' potential at Mufulira with a modular unit and supplementing this ore with feed from Luansobe, contracting out the excavation and transportation, would take care of the open-pit oxide material leaving the underground sulphides to be mined and transported to the existing smelter at Mufulira by a.n.other. Then there are the 'deeps' and anything else Galileo might involve themselves in with regard to mining services.

As been said before, numerous options and possibilities for a complex, time consuming situation dependant upon a multitude of moving parts.

Private company accessing private capital, equity, seed, debt etc.

You could be on to something there Tray556, the inferred underground resource at Luansobe is 6.3mt @ 1.5% Cu for 97kt contained copper. This is excluding the open-pit and the 'deeps'. We know there are multiple scenarios for this prospect and this could very well be just one or a combination thereof. Good post.

There most probably is a stand-in CEO at Galileo, the Chairman for the group of companies is the overseer, keeps it all ticking along and does the frontman/pr/podcasts.

Gold price at US$4670 the licence renewal at Bulawayo Gold must be moving up the list of priorities.

"The dawn of the copper age" is worth a watch. Link - see JL posting.

Good sense CRI5P,

The placing appears now to be well calculated and a good fit. Split 3 ways, partly to fund the Molefe earn-in for future revenues to Galileo. Partly for G&A/overheads and to bridge the gap between the depleted coffers having been self-funded for 4 years and more, and the expected revenues from Molefe. Partly to fund the scout drilling programme at Ferber now Bronco Creek Exploration are on board earning-in for a Royalty. Then there are the warrants should the sp pass through 1.6p as back-up but more likely to be used for further greenfield initial exploration on any of the other prospects and attract or draw-in third party/larger companies for a JV/arrangement etc.

What does this mean for Galileo?

Well funded way into the future not only to 'keep the lights on' but fund the numerous prospects in the portfolio. Working within the pre-set parameters, Galileo's position could be described as 'comfortable'. It has a strong hand and therefore the ability to achieve it's own objectives and not be pressured into a diminished return. Should this take longer than expected then so be it. It's worth remembering everything in mining always takes longer.