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No doubt Sandfire will capitalise on this. They are worth nearly double than a year ago and a year ago they were raising billions of $ for re investment without even having earned a penny from the KCB.

Where will that investment go........companies they are already involved with. GLR, Cobre and AFP

Sandfire Share price up 56% in 6 months!

We original had

370,477 @ $5.2

I think we sold approx 1/3rd recently (I can't find the remaining number)

Now the Share price is up to $9!!!!

So we have recovered the value we sold and then some

They seem to be capitalising on the big mines that have previously been stalled due to bad management and Dept. Seeing the scenarios as an opportunity and coming in with a 51% stake buy in and helping with the debt. Mopani and now KCM.

The more money pumped into Zambia the better. The more competition for all the assets. The monopoly game and land grab is picking up pace

Hopefully Iky. Surely this license solidifies whatever plans we had in store for Luansobe. So if not an RNS for the license update, surely one is to come soon about the strategy for the asset. Or even better a "blow the doors off" bit of news about a sale or lucrative JV

The Minkng Cadastre has now been updated with "Approved for Granting" for the small scale mining License over Luansobe

https://twitter.com/Sharedata12/status/1781442869888250112?t=vA9w-YOglj7tig4-qnEDyA&s=19

This is huge now. Can't wait to see what GLRs next move is. 60kt of Copper in that asset

Me too. Possibly a variation of deals we have seen before. Sell off the small pit and the business model of deep extension post pit exhaustion. As part of the contract the "buyer" funds an expert at exploration "GLR" to explore the deep while the shallow is worked. 51% GLR, 49% buyer initial split for the deep section. As GLR proves up a resource, the dependent on contained copper, the % ownership changes on a sliding scale. Say ending up at 80% buyer and 20% GLR if there is XK tons of contained copper. Much like the AFP/ FQ arrangement for the North West Foreland. Little downside to both parties that way

Hi Coyote, same on my end. It won't load. It was 3 parts originally. Whe whole exploration license, then 2 small scale mining license apps. The top or most norther we can easily see is the smal pit as it's the same shape as the reports on Luansobe. The middle one is what we assume to be the deep small scale mining license app

I have temporarily posted a summary on twitter from my old screenshots. It very well could have changed as the cadastre is not known for its accuracy

https://twitter.com/Sharedata12/status/1781037168674160904?t=yve-NZRZFjR-9wLm9mlIvw&s=19

I'll delete the tweet later tonight or once you say you have seen it

I have an old screenshot of the licenses

34542-HQ-SML is starunga (now deferred) but is not related to GLR. It was coincidentally applied for at the same time as Luansobe but was in fact to the south east of Mulufira.....so nothing to worry about. Unfortunately for them it was at "validated pending approval" before it was Deferred

LUASNSOBE

Shallow - mining license app is 34543

Deep - what we were referring to deep mining license app 34545

The cadastre is very "sticky" at the moment so hard to load them up

I'm on a similar mind set as you Money. The 79th mining licence Comittie sat 11th-12th April. So the GLR team have been sat on this for a few days now before we got to know about it. For the 3 years I have been investing in GLR, we have never actually been granted a mining license, so this is new (but excellent territory). We don't usually hear about exploration licenses granted.

However

A mining license is literally the key to unlock absolutely all that hard work that has been put into the asset so far. Millions of pounds and 2 years of time. Surely we need to celebrate with/update the shareholders on this huge turning point.

Also there surely is a forward plan now based on the succes of this unlocking of the value in the ground. Sale/mine etc etc.....a huge update is just waiting behind the scenes. Put it this way, we aren't going to do nothing with it now are we :-)

Hi Coyote

By coincidence it is on this screen shot of Luansobe (west). The G-Tec license is to the east. It is the larger of the 2 concentric squares in the purple large scale mining license that is Mulufira. Amber larger quare, clear inner square

Or type the number in the search below

https://portals.landfolio.com/zambia/

I think the RNS is just going through the printer now HD

I agree Analytical, the team have been working all Wet season on the southern African projects. this is over now and further updates will be imminent.

Essentially our year for GLR starts now.

It was worth re visiting the calcs again that you posted. A picture that improves as the copper price continues on its rally.

All lining up for a sale imo. The mining license can't be far off now

On another note, 3 more weeks until the Glenover cash injection £2.1

This is great for GLR.

Copper price now at $9241t

LUASNSOBE OPEN PIT analysis by Addison. Below from MRE

"Open pit mining assumes a Cu price of US$9000 per tonne with

85% payability on metal in concentrate. Pit optimisation and cut-

off grade selection was based on the assumption of 85% recovery

of total Cu, including the acid soluble component, by flotation at

US$14/t plus US$1.5/t G&A. Mining costs were assumed as

US$3/t. Underground mining was based on the same assumptions

with a mining cost of US$40/t"

I haven't been able to find one Cyber for zimbabwe. It says "coming soon" on the cadastre website. The only maps I have seen are on the RNSs

https://twitter.com/Sharedata12/status/1763692463057785140?t=B-ZBOhcnhDHb6g3ROjHILA&s=19

Thats right Analytical, seems a coincidence and the whole story of that in relation to Luansobe is yet to unfold. The fact they are getting processed at the same time shows the first come first served rule to be true.

The cadastre system is sticking the last 2 days over luansobe so I believe more updates imminent

Looks like everything is lining up nicely.

Next stage is " validated awaiting MLCC approval" then "approved for granting" then "approved"

We may find out more on the 79th mining committee update approx 8th April as the cadastre is alot further behind

Example of this Zamare Minerals large scale exploration license 20859 shares a border with Luansobe and on the cadastre is says "pending renewal", but "approved" on the 78th committee up date from 1st March.

Agreed, they being our local experts consulting us and carrying kit the application. What is interesting is the other Statunga asset (not related to us) with a small scale mining licence app (submit at the same time as Luansobe) just to the south has also moved to "validated pending MLCC approval".

Last time Galileo had a license app that was about to unlock value innthe ground on the brink of being granted was Starzinc. Back then we thought it would unlock £10m a year in value and as the aetisanal license grew closer to acceptance the SP increased to 2.68p on the highest day.

I hope the market reacts similar with anticipation for our license in Luanosbe. I think investors will see it as a good time for a investment. Just before the gate opens to unlock value

I was about 4 weeks out from my Feb estimation of seeing movement on the mining cadastre for Luansobe

The application has been updated from "application" to "pending document verification". Let's hope Copper Melon have done their due dillingence. This is the exciting bit where we can finally unlock the value in the ground with the License. We could be a matter of weeks away now.....if not already as the cadastre is behind

https://twitter.com/Sharedata12/status/1771484990406099371?t=S07_9_I3V1m_YpLjZfnpCQ&s=19

Things hotting up 20km west from luansobe at Lubambe. Abu Dhabi trying to push the chinese competition out. More competition is good for us l, it increases the value of all copper assets in the middle.

I agree, by no means is this a "dud", far from it. Lots of targets, the correct lithology and close to a current resource. We also have that "discovery" status we have given it. I have high hopes still. If Iky is correct and also from the AGM Martyn going to meetings with potential buyers, kamativi is still in the game.

Imo, a little deck shuffle now required and more reason to get Luansobe monetised or creating value. Cut loose a few assets we are carrying and free up money to put back into Kamativi and the other front runners. Another drill campaign required on Kamativi, so a few hoops to jump through first os all I meant