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Agreed both. Zinc price flying at $2850, i can see from the mining cadastre that in nearby Kabwe (1-2km away) zinc processing licenses have been granted

The fact the GLR team have successfully managed to agree access terms with the municipal council and submit a mining license is a huge leap forward. No doubt due to the help from CooperLemon who are obviously a local set of experts also. Back to your point IKy, I believe that is the difference with us now from when we were back trying to monetise SZ. We couldn't make agreements with local councils and we were forced into a sale which obviously carried unknown risk. The license this time us under Galileos name and not a sub contractor

We will likely gave to wait until the license has been posted and landed at GLR just like Luansobe before we get formal news. At least we can see some plans maturing ready for the dry season in April

It is BS, a new license application for small scale mining, over the top of the exploration license we already have granted

https://x.com/sharedata12/status/1709996290556203352?t=hgqae5bda96mdd6rqv_u-q&s=19

last calcs i had put ka****u at £70m

good news on the horizon

small scale mining licenses application is in and validated pending approval over ka****u

fantastic work galileo team

https://x.com/sharedata12/status/1890175752861340146?t=qaehn1dnwmoglavsyjwkya&s=19

the wilemite ore is approx 3m deep at ka****u, so quick excavation and monetisation can't be far off

Cracked me up that Birch

Plenty to come CHRI5P. lots of substantial news in the pipeline there.

generally after a new vacuum, the first bit of news (if it is classed as ordinary) people are disappointed with. IMO, its all good, GLR are chipping away and eventually we'll get there.

There's some chunky stuff out there though so it could be Shinganda or Lunasobe that gets us really motoring

Let's hope so Iky :-) surely we have to get an update on Something this week

I agree with that BS, this year is the year of delivery tailored to what the market and shareholders recognise as delivery to get that "share holder value" that is spoken about. Although we are sitting in a comfortable cash position, there isn't enough tonwork every asset and simply stating "we intend to drill" isn't worth anything. We need substance behind the intent.

I know the board are more than capable of delivering for us and I'm sure there is lots to come before the end of this quarter.

Terrible spelling :-(

Analytical isn't the only one. I still believe in GLR, and whether people like him or not, Colin is our only way up and out of this. He's the one that has been in Zambia for 40+ years and knows the country inside out, has the contacts and the prevous track record of growing companies into 10s of millions market cap. We have Martyn Churchouse who I believe in. I have spoken to him many times and Colin. I know they are exploring all avenues and doing their best.......and their best is the best chance we have.

I do believe though we need change. I think Martyn could be more vocal on the interview and get our resident expert Hunter Kennedy on as well to explain what he's been doing forst hand "out in the bush" as Martyn Calls it. Colins prevous record of miltibags have been frommthe market recognising good drill campaigns and asset potential. At the moment it simply isn't interstate in anything other than cold hard cash and earnings to budge the Mcp significantly. So we either need to concentrate on playing thaglt game and throw everything we have at getting monetised or work harder as iv suggested above on making the market realise our potential. Kovango is double our Mcap with far less on its books. They are experts in PR in my opinion.

I found it interesting to hear about inflation and how that is likely to positively affect commodities (if it follows past trend). On behalf of Xtract CB spoke about mid cap companies going fishing in Zambia, possibly a hint of what types of people Colin is talking to currently to look for deals in his copper assets across the board.....Luansobe for example.

Also no questions asked about Galileo. Phil and Kev hold stock, so certainly would have took the chance if they were allowed to get GLR in there too. Could be an update imminent

Hi Cyber, no specific evidence no. Ay the 2023 AGM it was said a copper asset similar to Luansobe was sold for $100m. But its so long ago I can't remember the detail, not that there was much.

Chat GPT is good for asking stuff like that, altho it has its flaws. Iv been looking for 15 mins ans it hasn't mentioned a couple assets I know of JLP were looking at similar to Luansobe.

When i widened the swarch It came up with

Caribou project in Canada, 12m tons, 1-1.6% copper, operating and owned by Glenmore...estimated value in the hundreds of millions (depending on what questions you ask)

Madneuli mine in Georgia, same size and concentration, sold on 2006 for $45m before going operational

If be interested if anyone else had any info.

I have a contact in Zambia in the commodities trade and his estimate was 20-100m for the open pit

I wouldn't say "unjustified" BS. A sale of the open pit has always been on the cards for the right price. Imo that probability gets higher with the rising copper price and again if it sustains a high price above $10k/t

Since it fluctuates and we see not getting offers we deem acceptable, then alternative plans need to be explored. Jv for example

I'm happy with both or either.....as long as they deliver a good profit and an escalation in shareholder value to the tune of multiples of the current MCap

*happens

Hi Money, re reading my post it sounds like i think theres something already in play. I meant our future fates are likely entwined

Theres a small (example 10%) chance something has been agreed and JLP have given a vague update on their side, ahead of a full reveal. JLP havent released much info at all, just 200k tons at expected 1.6%. they havent said from who, which would mean we could keep quiet.

however i think there is a higher (example 90%) chance we are still awaiting our big plan for the Luansobe open pit with a major buyer

looking forward to seeing what comes next. I do believe there will be an "intent to drill " RNS coming shortly for the medium/deep depth asset as well

Or it could be XTRs dump they have just purchased to then sell onto JLP

i feel something big brewing. iv had a hunch for a long time that Galileo's fate is somehow entwined with JLPs

exciting times, lets see what happend

Well pointed out Iky

the 200k tons of 1.6% copper could be coming from us. Luansobe open pit is approx that, and we know JLP analysing a sample from when the sunday roast team visited

TIR, XTR, BZT all with updates, ours can't be too far off

Lets Go! copper above the magic 10k!

get the Small Pit sold!

The copper price per ton in November 2009 was $5500.

Obviously far more than that now and demand is as high as ever.

Comparing GLR to Kiwara PLC we arent too far off the same time scales

it took. 2.5 years to drill 51 holes in Kiwara before its eventual sale with only and inferred mineral resource estimate.

-huge asset of wide spread low grade copper -nickel aprox 0.7%

FQ then had to spend $2bn in CAPEX to get it operational

Shinganda is very similar to Kiwara in size, Shinganda about to receive its mineral resource estimate from the assays to be returned soon.

I like how Kiwara PLC had an MCAP of only $30m initially and rose from its exploration of kiwara to over $100m

theres no reason why this cant happen again

Kiwara Plc was chaired by Colin Bird, a well-known figure in African mining, who was instrumental in developing and promoting the project. T

Kiwara had been aggressively exploring the Kabompo Dome, identifying significant copper-nickel deposits, which caught the attention of larger mining firms.

Kiwara Plc, a UK-listed exploration company, initially acquired a 70% stake in Kalumbila Minerals Ltd, which held the mineral prospecting licenses in Zambia's Kabompo Dome region. Subsequently, Kiwara increased its holding by an additional 10%, bringing its total ownership to 80%. This increase was achieved through the exercise of options to purchase additional shares from other stakeholders.

The remaining 20% of Kalumbila Minerals Ltd was held by local Zambian partners, aligning with Zambia's mining regulations that encourage local participation.

Kiwara Plc was listed on London's AIM (ticker: KIW) and Johannesburg's JSE (ticker: KWR). In 2008, the company had a market capitalization of approximately £34 million (US$49.5 million).

By November 2009, Kiwara's market capitalization had increased to approximately £105.4 million (US$175 million).

This growth was driven by successful exploration results at the Kalumbila copper project and a general recovery in copper prices during that period.

Sale to First Quantum Minerals

In November 2009, First Quantum Minerals announced its intention to acquire Kiwara Plc in a cash and share deal valued at $260 million. The offer represented a 41.5% premium to Kiwara's closing share price prior to the announcement.

Under the terms of the deal, Kiwara shareholders received 0.0085 First Quantum shares and 37.5 pence in cash for each Kiwara share held. This transaction was completed in January 2010, marking a significant return on investment for Kiwara's shareholders.

Kiwara Plc's exploration activities in Zambia's Kalumbila region spanned approximately two to three years before its acquisition by First Quantum Minerals in 2009. Here's a concise overview:

Exploration Timeline

2007: Kiwara Plc acquired an initial 70% stake in Kalumbila Minerals Ltd, which held the prospecting licenses in the Kabompo Dome area of Northwestern Zambia.

2008: The company increased its stake to 80% by exercising options to purchase additional shares from other stakeholders.

2008-2009: Kiwara conducted extensive drilling programs, including 31 core holes and 20 reverse circulation (RC) boreholes, to assess the mineral potential of the Kalumbila prospect.