Member Info for Coyote2020

FY results on or before 30th September.

Should IamGold decide to sell.

The Senala licence runs north/south and is well located being in proximity to Loulo (8.8m ozs) and Gounkoto (3.7m ozs) to the north, both owned by Barrick Gold and 25 km east of Fare and Fekola (7.7m ozs) owned by B2Gold 20km east of Madina Bafe to the south.
B2Gold are expanding in the region taking-up new ground for exploration. The acquisition of Oklo Resources (subject to completion) is an example, as additional ore feed to Fekola or as a stand-alone.
The Anaconda (B2Gold) area 25 km due of north will truck ore to the mill at Fekola sometime next year. In the meantime, the underground potential is to be assessed for stand-alone potential or remain as satellite feed. Anaconda is 25 km from Fare.
Senala is well positioned and could be a useful licence and prospect for any of the mines mentioned above.

See previous post with this thread.

B2Gold are expanding the Fekola mine with a further additional 10 drill rigs (DD, RC and grade control) to produce 570k - 600k ozs this year making it amongst the largest gold mines in Africa.
Fekola is only a few kilometres from the Senala licence. One option, currently under review at IamGold is to sell Senala.

With satisfactory tonnage, grade, metallurgy, strip-ratio etc... and therefore economics soon to be determined at Luansobe, Mufulira as the designated processing route to market, new investment and the prestige that comes with a company such as Barrick Gold, with a remit to treble production output can only be a bonus to Galileo Resources.

The Mopani restructuring currently under review at Rothschild Investment Bank is set for conclusion at the end of October this year.

Mark Bristow, CEO at Barrick Gold has said, the Lumwana mine has been a real success since the merger. We see the African copper belt as offering significant opportunity for our copper initiative and the new business-friendly government is a breath of fresh air. It's been an absolute pleasure dealing with the new government and there's no doubt Zambia is underinvested and we shall continue to play our part. Mr Bristow believes seven Escondidas' are required before 2040 to meet demand.
First Quantum and Barrick were interested in Zambian copper mines previously owned by Glencore (Mopani) and Vedanta (Konkola). First Quantum has said they have no further plans in this regard with Barrick saying they haven't ruled out the possibility, but that was six months ago.

Zimbabweans seem to like 'Galileo's (London listing) potential nickel discovery at Bulawayo Gold.' Widely reported across a number of news outlets.

Up 11.11% (12.92% on Google) today, a good start to the week. Next up;
Shinganda assays for Gold, plus news of any further drilling.
Rock chip/soil samples at the lab for Kamativi Lithium and maybe Tin.
GeoQuest on the ground at Bulawayo checking-out the airborne Goephysics for Gold and maybe Nickel.
It's all go here.

12th December 2021. Sorry arithmetic has gone to pot today.

Correction - 0.6p warrants have expired. 1.25p warrants valid until 1/6/20 + 18 months.

Sells are probably 0.6p warrants from years ago, more money added to the coffers.
25p target is on imo.

A take from Friday's Vox/Zak Mir interview when discussing the ROM ore of 3.5 - 5.0mt/yr at Luansobe.
"this is not a myth it is a reality".
Market cap's offer no guidance to asset values at this time, only indicative of market conditions for the junior's.
Galileo is transitioning from explorer/developer to producer for this project. Rapidly moving from 'speculation' and 'potential' towards 'hard fact' and figures market analysts and the like can attach a quantified and representative valuation.
Galileo is looking to start producing from this asset by early next year. With final grades to be determined from the drill program, unofficial (non - JORC) grades of 2.51% Cu at Luansobe and 2.17% Cu at Mufulira, and using a conservative estimate of 2.0% Cu for 3.5 - 5.0 mt/yr equates to 70 - 100kt/yr copper production
For market cap comparison with other producers, Atalaya (50 - 55kt/yr) is one example.
20+ bagger in the making..

Sunday Roast interview - 8th August.

The Market must be on holiday!

From yesterday, the example figures given of 5mt @ (say) 2% Cu for 100kt/yr refer to the open-pit only and not the deeper sulphide contribution.
Fast-track the open-pit for early revenues and cash flow. The sulphides and underground possibilities would follow later.
Even with the minimum quoted figure from the Sunday Roast interview of 3.5mt @ (say) 2% Cu equates to 70kt/yr @ $8000/t = $560m/yr in revenues.
A realistic market cap for a company producing 70-100kt Cu/yr is 300m - 400m+ (GLR m/cap X 20).
One of five active exploration/development projects within the company's portfolio.

A company producing 100kt of copper each year with this market cap would be just plain daft!

104 + 69 historic holes and now a drilling campaign for a further 30 (3000m) or so, to expand and confirm the historic data, test and evaluate the newly discovered shale zone for a JORC compliant resource estimate. A resource, say for example, capable of producing 5mt @ 2% Cu/yr equates to 100kt/yr and at today's Copper price ($8000/t) for revenues of $800m/yr.
Cost's and therefore margin look highly favourable for Galileo with Luansobe being in close proximity to the Mufulira Processing Plant, should Galileo choose this route to market.
At Mimbula (see previous posts), in the early days of the project when assessing the options and alternatives, Moxico chose to run (truck) the ore mix 10km direct into the KCM Tailings Leach Plant at Chingola generating early cash flow, before raising capital to build a Plant facility (Stage 1 - the preferred option) on site.
Luansobe is about the same distance from the Mufulira Processing Plant but with an added advantage. The adjacent land between the conceptual open-pit and the processing plant is licenced to Mopani. Galileo could (if the option is available) run larger dump trucks off-road on the Mopani property thereby avoiding Public Highway Regulations and weight/payload capacity restrictions for an enhanced cost effective operation and probably safer too.
Once Galileo has completed the drilling and determined the grade, tenders go out (early Q4) possibly for the scenario described above and benchmark figures are received. Value of the payload at the Plant less transportation cost's equals margin. The bigger truck, the bigger the margin. Benchmark figures are then used to test the alternatives.
Further on, mineralisation is to a depth of 1250m and more. Mufulira's new shaft is the second deepest in the world at over 2km. Luansobe is along strike a short distance away.
Add in the on-going Mopani restructuring with a new investor (a Major) brought into the region can only be a plus for Galileo.
Only the beginning.
A game changer and inflection point?
Most definitely imo.

BULAWAYO
KALAHARI COPPER BELT
KAMATIVI
LUANSOBE
SHINGANDA