Member Info for Coyote2020

Galileo had been making steady progress over time and since the oversubscribed placing in mid-September, the first for many a year, introducing a new HNW invester and the FY Results later the same month clearly stating the future programme of works starting with Luansobe through to Bulawayo, 8 projects in total, operations do appear to have stepped-up a gear.

The Molefe Collaboration Agreement on 28th Nov followed by a Commencement to Drill on the 3rd Dec, the Ferber update in the highly rated Nevada, USA on the 4th Dec confirm what was set-out in the FY Results.

Reading the posts here over the last few days the Molefe Agreement took a bashing because of the Jubilee association who are not 'flavour of the month' at this time, the earn-in for equity and a future income was dismissed as trivial and Ferber barely got a mention at all.

Retail investors crave news.

3 RNS's in 7 days the contents of which were more or less ignored seems odd. The narrative here was tantamount to pantomime.

It's been stated here before, are some posters actually invested in this company or are they here for their own amusement and entertainment whilst messing it up for everyone else.

Ha, this chap has been spinning-out this twaddle for going on two years and you buy into it everything. Never any details only, "I'll leave this for now and disappear" until the next time. He is just a tease. Meanwhile, the share price has halved. Lol.

Nothing it would appear.

Some decent drilling results in the next quarter and this could take portfolio centre stage for a duration.

Rock grab samples collected over the entire area including an additional 89 claims extension. Previous grab samples collected by Galileo from old workings and dumps produced 10.8 g/t Au, 674 g/t Ag, 4.19% Cu, 8.71% Pb and 7.62% Zn.

Completion of a ground gravity survey together with further historic data obtained including IP, airborne (magnetic) surveys, additional drill data. Drill targeting planned.

America's administration focus is largely on national security, defence and economic stability by creating a self-reliant supply chain of the critical minerals used therein. Nevada ranks second in the US for total mineral production value and it is considered the world's most attractive jurisdiction for mining investment due to it's rich mineral resources and favourable government (Trump) policies.

Good timing, great destination and JV partner Bronco Creek Exploration have extensive local knowledge and are highly experienced. All to play for.

Good on ya GoH, GG and others. A PMA is prevailing once again.

In short, with boots on the ground the Galileo team are VISIBLY earning their keep while we await the attentions of the larger players. They have plenty to chose from. Perhaps they should get in early before the tsunami.

......and Oriole's short, medium and long-term financial considerations might be.

Makes for an accurate valuation (cash) at this time difficult. Settling for a free carry and royalty then, when the mine is in production and all the numbers are known, assessing the royalty worth is far simpler but what about the timeframe?

The 155k oz at Fare was the result of TL deploying an external consultant to produce a JORC resource based upon Stratex drill results for Fare South from way back and an open-pit shell design parameter of US$1800/oz. Results such as, intercepts of 5m @ 12.45 g/t Au and 35m @ 3.61 g/t Au (Fare Far South) are excluded along with Fare North from the calculation and an updated resource estimate would show a significant improvement.

However, a main driver of valuation is location. The Kedougou-Kenieba gold district and host to over 40M oz Au with Fare in close proximity (trucking distance) to major producing mines such as Loulo (8.8 Moz) and Gounkoto (3.7 Moz) both owned by Barrick, placing Fare ounces in the ground into the US$100-200 oz bracket.

Investment recouped in little over 3 months.

A rough guide to the revenue streams generated from the above.

Using a Cu price of US$11,219/t and Jubilee's unit cost per ton of $5,375/t gives a margin of $5,844/t.

Galileo's toll treatment charge could be (maximum) $5,375 × 23.75% = $1,277/t.

Margin less Galileo,s T.T = $4,567/t.

200 units @ $4,567/t = $913,400.

Galileo's share (23.75%) = $216,932/month or $2.6M/yr less tax etc.

Should allay fears of any future dilution issues.

So what might be the projected revenues from this prospect which could be fully operational in only 8 months?

Galileo have been given 8 months to complete a mine planning is the time Jubilee require to build the concentration plant. The agreement reads like mine services whereby Galileo provide the services at their cost (£700,000) in exchange for equity and future revenues. This has nothing to do with Luansobe, that's hundreds kilometres distance. What's not to like.

Otis Clay -1980.

Atleast you both got the 'UP' right. Lol.

Another scenario is to expand a JORC resource making it attractive enough for an outright sale of the asset, return say, 50% to shareholders as a special dividend and use the rest as working capital to develop the next asset sale. No more dilution as the company is now self funded.

Thanks Ci.

If Kamativi and Luansobe are both set for a significant update in December and February respectively, what is the third deal mentioned here?

US$4100 oz

....and rising.

They may well have done so.

Refused by the BoD as it seriously undervalues.......

Tin now at US$37,095/t improvement on the Kamativi licence area, 520 sq kilometres prospective for Lithium, Tin, Rare Earths, Copper (VMS).

Update scheduled December.