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Hi BS, CB couldn't discuss any numbers unfortunately. He was pressed in alot of things but simply couldn't lay out terms or potential terms of contracts type info.

Hi CHRISP, we didn't get time to discuss a zambia assets as a whole package.

After the discussion on the assets separate, then it sounds like the key contributor would be GLR would like to enforce more value on the assets before the chinese disregard potential. It certainly imo could be possible if the correct value is reflected in the offer

Apologies all, just getting back now, its been a long day. No problem at all about passing on the info.

HD, we will deffo go for that beer. Also once GLR hit the big time, I suggest a few of us do ha

Back to Luansobe, Colin said that IRH "are ready to talk now". Are his exact words. So I'd like to think there's going to be some healthy competition created in the very near future. There have been several phone calls to CooperMelon very recently from the Chinese again. IRH like to work face to face apparently so I guess we need to be on the look out for signs of that.

Shinganda had an offer from the Chinese 5 weeks ago.

Western Foreland drill results were described as "blowing some myths" and we are talking to Ivanhoe now theybare in Angola. I look forward to hearing more about this formally as not much could be said in the AGM

We are in the right places, attracting the right interest with the right assets :-)

If i'm honest BS, that wasnt discussed in detail. do would (in my opinion) believe this is still going ahead as the "IRH Option" to mine and truck ore to Mufulira would require a contractor to do it

Pt2

Currently Chinese are more active in offers, although just like other assets in the country they want as cheap as possible, trying to use leverage of their other investments in the country to strong arm the government to agreeing their demands. My interpretation is at the moment from what was said,

1) The Chinese want the small pit for ore quick, they are also reluctant to buy and reflect into the price the potential huge value of the medium and deep should the whole of Luansobe be sold in a "oner". Hence the options GLR are considering to further explore medium and deep to force the value onto the table.

2) Should a sale of the small pit only occur with a favourable price, They are demanding first right of refusal on medium and deep which really is HUGE according to the latest state of the art computer simulations from the mining design recently carried out. This then locks IRH out of future deals.

3) IRH concentrator appears to be the gatekeeper asset to then allow them to go out looking for Ore. Once IRH start doing this as, then this will create competition to stop the Chinese low ball restrictive offers.

This is why patience at the moment is required. The Zambian Government also likely to come on the pitch as the own 49% of Mopani.

I think soon we should be getting very interesting info on Luansobe

Pt 1

I now know why it is easier to discuss the possibilities face to face than state in an RNS.

It helps knowing the what's going on in Zambia to understand why Luansobe is being managed the way it is.

Zambian Government – Juggling investment from various countries, predominantly China and Middle East trying to keep them all happy (see below as to why)

China – very active in investment in not only copper but Zambia as a whole, to which Zambia owes a large proportion of national Debt. Buying up as many properties as possible, building copper concentrators, even when there is no ore to put in them…….yet. (This imo is good, it is creating a playing table for ore demand)

Middle East – Investing in copper, IRH now owns 51% of Mopani (Mufulira) and the debt $1.3bn Debt the Zambian Government used to be liable for. IRH currently losing money as not up and running yet. Particularly the copper concentrator (this is important for Luansobe). However the Copper Concentrator is nearly ready and will be needing ore and fast.

Luansobe – originally a satellite asset to Mufulira in Glencore days had first right of refusal of ore. IRH know this and the potential of Luansobe, although the first right of refusal no longer exists

Totally agree FS. I believe Zambia are investing/collaborating with the current world leaders in major copper asset exploration and development to production to take the lead on the 3mt a yr. Abit like USA and Elon musk, but different haha. (Tounge in cheek example)

I'm going to the AGM. Finance is certainly a topic on my agenda, for assets and in general.

Definitely FS, we are where the money is being spent...$90m!!. The Ivahoe Exploration licenses are 40km away and closer to the boarder. Mid way between our license in Zambia and the Kamoa-Kakula mine in DRC.

I'm on the same page as you. Multiple mines. KAMOA-KAKULA is already one of the biggest. Ivanhoe buying up as much as they can. Probably to stop others getting it in a monopoly type move. The same will happen in Zambia when we or any other of the CB stable hit decent drill results. Especially since Ivanhoe are making deals with the Zambian government already

I like this FS! Ivanhoe with $90m budget for 70000m of drilling in DRC to see the extent of Kamoa Kakula resource

On this map, I have superimposed the DRC mining Cadastre next to the Zambian mining Cadastre. You can see Ivanhoee exploring less than 40km away.

https://x.com/Sharedata12/status/1852411805978562657?t=p8G5RcBt0JtGE11iWURilw&s=19

Ivanhoe have also signed Memorandem of Understanding with the Zambian Government.

https://www.ivanhoemines.com/news-stories/news-release/ivanhoe-mines-announces-mou-with-government-of-zambia-to-facilitate-exploration-and-development-activities/

They/Robert Friedland has an eye on Zambia also. This proves Galileo is fishing in the right pond and very close to a major pumping in all that investment.

I don't believe so Iky, especially near term.

AIM was mentioned specifically whereby sums under £1m value of shares in AIM Market only would be subject to 20% inheritance tax (not current 40%). This on its own I Personally believe would help the market and encourage people to invest for IHT relief purposes. In some of the Telegram groups iv observe varying opinion and "complex" was used by Charles Archer. U never know I guess

Looks like the ISA's are safe CHRI5P. Mix bag on the rest

Good shout HD, a demonstration of confidence from The Board

I used to think the same HD. I have never looked this up myself, but i was under the impression that if a Director purchases shares, there cant be any SP/MCap influencing news released for 2 weeks. Im no sure if anyone else knows the rules.....if any?

However

Colin Bought shares last April, approx 10 days later News was released of Cash relieved for Glenover, then 3 weeks after that, Mining License for Luansobe.

Colin Buying could be the sign of a good run of news :-)

we await the 100m+ deal ha

I hope so too CHRI5P. If it is capped then I hope there are still fairly relaxed rules around opening an ISA in your spouse and children's name to devide or other legal loopholes

There's plenty to go at by the looks of it Funky. I don't think we are too far off a pivotal decision now

That's something I agree on Iky/cardo, we could do with a change up of public relations. There's companies with bigger Mcaps than ours with less mature assets

Sentiment has a part to play in Market value not just progressing the assets. I believe we would be double purchasing MCap now with better PR. Utilising twitter more. Hunter Kennett our man on the ground posting pics of what he is up to in the bush on the African assets. Using the GLR website and releasing reports similar to Kovango and Cobre. I believe there is a use for the interviews, but if they aren't scratching the itch for investors, it's time for a change away from pre arranged questions that we pay for the privilege. A Vlog from Colin once a month on YouTube would be free " what's Colin up to" would go alot further imo. Maybe pay a zambian uni graduate to do our social media and website up keep.

3 bits to pull out for me.

1. We are Licensed up fully now, next phase of the plan is not hindered by legislation. Something we have never been able to do before when it comes to a mining license only exploration. Huge achievement

2. "...we look forward to announcing further progress on the Project in the coming period." Gives us an expected duration

3. My favourite.....

"If a decision to mine is made by Galileo, then the parties will be entitled to fund pro rata to their beneficial interest in the JV Company. Any funding shortfall by the Vendors will be recovered from subsequent mine production"

This paragraph was in today's RNS, but is a copy of text from December 2021 (Luansobe's first RNS). It hasn't been mentioned since, but is decided to be mentioned now......I wonder why ;-)

Great find Flipper. ARCM PL135 is literally next door to our PL039 and on the same trend/set of folds as Komachau zone 5 and zone 9

BSm, the southern license is now at "approved" status on the zambian mixing cadastre, which is great news for us.

*Intra day

It looked as though MMs were playing with the spread today. it went as low as 4.8% at one point. the first time it has been below 15% in a long time and we up blue.

in terms of the SP Levi, im with you. we have demonstrated 1.3p multiples times this year when MMs let the breaks off, and even 1.5P has been known intra late last year on nothing. Interactive Investor says GLRs fair value is 2.4p.