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The Zambian Government has commented (media release) it is on track in terms of resolving issues surrounding Konkola and Mopani Copper Mines by the 15th Nov when the National Budget 2023 is presented to Parliament. Ties in well with the Rothschild Investment Bank review of the Mopani operations scheduled to conclude at the end of this month.
With a Major and new investment at Mopani and a solution to operational issues at Mufulira, the plan to increase production levels from 80kt/yr to 240kt/yr in place, the prospects for Galileo are enhanced imo.
On-going drilling at Luansobe for a JORC compliant resource only km's from the Mufulira Plant, Galileo could potentially accommodate c.50% of the projected production increase from a simple (relative) open-pit.

A definite inflection point in normal times.

There is appetite in the market. Tertiary Minerals are up 27% on soil sampling at one of their copper projects in Zambia today.
Makes the Shinganda prospect all the more tantalising. Mentioned before, 50.3m @ 1.53% Cu including 7m @ 4.36% Cu + 2m @ 11 31% Cu at first pass.
Fire assays for Gold to follow.

For sure Glencore need/want the Mopani mines (Mufulira, Nkana) to perform.
Luansobe only a short distance from the Mufulira Plant, with Xmt of ore feed @ 2%+ Cu readily and easily accessible (relative) places Galileo in a very sweet spot imo.

For latest info and the Mopani restructure progression, see article titled 'Glencore proposes loans to ensure production at Zambia's Mopani copper mine - letter.
Posted on this website (LSE) at 9.38am today.

The best risk mitigator for any mining company is liquidity.
Galileo has £4,648,995 as of 31st March, 370,477 dividend paying Sandfire shares, circa £5m from the Glenover share sale should Afrimat elect to exercise the option, only weeks away.

It seems Haikande Hichilema the President of Zambia has the abilities to guide the country towards economic recovery and stability since taking office in August last year.
He has reduced inflation from 24.4% to 9.7% leading to a sustained fall in food prices and targeting inflation of between 6-8% by June'23. Zambia's national currency, the Kwacha, has shrengthened against the US$ and is the best performing currency in the world rallying over 18.5% since January. Negotiated an agreement with the IMF for debt restructuring to name some.
Haikande Hichilema and Xi Jiuping President of CPR have been in telephone conversation.
China is willing to help Zambia develope the whole value-chain with mining a key area for a China-Zambia cooperation through a platform of China-Zambia Trade and Investment Forum.
Mopani and/or Konkola could be in their sights.
Right time, right place comes to mind once again with this company.
Drill targeting hoping to drill at Bulawayo in Q4.
Follow-up at KCB in Q4.
Assay's to follow from Kamativi.

Get the whole picture, forthcoming events and outlook.

Out next week.

Try $Billion.
Late night last night.

Correction.
$2.83m + $1.179m = $4.009m

If this investment comes to fruition totalling of around US$3.5B in less than a year.

More spending from the Chinese in Zimbabwe.
This time for a US$2.3B battery-metals industrial park to include both Lithium and Nickel processing plants.

Glencore, the mining and commodities trading giant is said to be evaluating the addition of Lithium to it's suite of metals. Lithium has become the driving force behind electric vehicles (EV's) they said as concerns over lack of supply continue to grow.

'The lions share ' is the key point.
The Opex remains the same for all scenarios using the Sable Plant for processing. With the fixed-price hired-in Contractor arrangement, Capex would be minimal, a Portacabin + CoW, Consultancy fees.
Selling, Jubilee would receive the lion's share not just processing charges.
Galileo on the other hand, would receive cash up-front and regular income from a royalty.

Excavate an open pit and truck the ore 4km to the plant?
Probably engage a contractor to do the work.

With reference to Siege Zinc, when zinc is back in focus at the Sable Plant, it could be more beneficial for Jubilee to buy the Kash'itu project and operations being literally on their doorstep.

Jubilee have their own zinc tailings dumps on-site. There are other local 3rd party suppliers (zinc ore) besides Galileo's Kash'itu which is 4 km from the plant. The zinc processing circuit is on Jubilee's agenda, just a bit further down the page.
Galileo are imo, in no hurry to secure revenues from the Kash'itu project as they have cash (confirmed in the FY report in a couple of weeks) and other sources of income, dividends, a royalty and the proceeds from the Glenover share sale should the fixed-price option (ZAR300m) be exercised on or before the 10th Nov'22.

Superb day and no sell-off at the end. Bodes very well for tomorrow.

Good volumes today.
The junior mining sector is warming-up at long last.