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From experience the run up to April seems to be a stagnant time for GLR, iv always put it down to the end of the tax year for investors and also for any companies we would be doing business with (just my take). An uptrend occurs every April for the last 5 years

Ontop of this we also get our £2.1m next month for the Glenover sale which will ass 20% on our MCap

Disappointing about Kamativi personally, I was bought into finding more lithium (despite the odds) as drill hole 1 having 1-2% lithium in it as measured by the University of zimbabwe, and the other drill cores having the same geology and more of it per core. The final assays though did not reflect, but onwards and upwards. We are in the right place, it's just finding it. We just need 1 decent core to come back and that's us away on kamativi

Luansobe is really close now. I imagine focus will shift to this in a big way in terms of our effort.

I agree Joe.

"Next door" is also a potential customer. They appear to be processing the tailings from the old tin mine first which contain approx 0.58% lithium. As some of the results show and the awaiting ones are expecting (fingers crossed) we are drilling decent amounts of 2% less than 60m deep. This would/could be used to enrich the tailings of our neighbour and increase their efficiency.

This is personally why I'm excited about Kamativi. I see a deal in the horizon that ties us into some sort of royalty with the owners of the ex tin mine at Kamitivi (I forget the name).

Hi Joeman

I believe the Kamativi mine shares the Southern boarder of our Kamativi project Zone2 and Eastern with Zone 1

https://twitter.com/Sharedata12/status/1763692463057785140?t=eO1-YlgvfxeAHYDPncdAmA&s=19

Re the funding in zambia, there's a great video by the president on the ministry of mines FB page

https://www.facebook.com/share/p/ww5D8KRxSzU5oVZq/

China non ferrous mining $1.3B

Barrick Gold $2Bn

Mexico ramped up to 6000tons of copper in first 9 months

Kansanshi mine and smelter investment of $1Bn

To name a few.

I think the next 6 months will be really interesting for majors securing (in some form) first right of refusal on minors assets in a land grab

I have tried to amalgamate all the maps for the Western Foreland.

https://twitter.com/Sharedata12/status/1759339763180490989?t=iDn96Jb5iFtT149DgewLZw&s=19

You can see why there's a land grab ongoing and the CB stable has got in there first.

Far better put than I CHRI5P, thanks. I'm not trying to bash AFP in anyway, I wish them best of luck. Hopefully as FQ explore the Licenses the value will reflect onto their SP proportionally to their share in the assets.

I'm picking it out as I can see now alot more clearly by way of AFP/FQ example as to why CB from GLRs presepective, is hanging on for as long as we can before taking on a JV partner with our bigger assets.

I'm going to hold my hands up BB, iv miss informed myself about inferred and indicated resource estimates.

My concern was that FQ would need to do minimal work and take 51% off AFP. I know AFP would struggle to fund it themselves so either way their best chance of furthering their assets.

As for GLR I do think we have a good chance with a full 750k on 1 license ending around the end of this year.

I'm not sure the AFP arrangement with FQ is as good as it sounds. The best part is that AFP has a relationship with a major. FQ are going to excercise their right to spend $2m over 4 Licences to earn 51% of all. All FQ need to do is prove 300k tons of contained copper on an indicated resource estimate which is really wooly. After indicated there is inferred resource estimate, mineral resource estimate then JORC.

By comparison we are going to spend $750k on just amd earn 75% ownership.

Galileo will get more progress potentially with more funds allocated to a single licence.

Agreed CHRI5P, I think this year we will see non core assets getting released. The top assets are more than enough to keep us busy. We just won't get to some of them. Best to let them go at a profit

That's good, I didn't look at CHRI5Ps posts before I did mine.

I'd personally like all the money up front. My suspicion is that wont happen. Some form of cash up front, then installements anually (like XTRs gold asset they sold) and then a cut of the monthly reveune also with a faulter clause in it would be my guess.

However there is evidence to day I'm wrong. We have been in discussions with the buyers of Mulufira and some Chinese companies, they would have the budget to buy outright.

I feel a big sale will raise Galileos profile in zambia and put us up there on the leader board of good reputation of finding and proving assets for sale. The PR and trust we would incur off the back of a good sell I believe is something money can't buy us and what we need for our other assets like shinganda and North West Zambia

Hard to tell. We know the directors are after a big discovery, we can see that by the behaviour on other companies I.e selling XTR assets to fund exploration on higher potential big discovery assets and also the language used "Kamoa style resource" etc

I think they will be weighing up the option for the underground resource on Luansobe. The UG has potential to be a huge discovery. We bought the asset with 164 drill holes already in it, some of which we re-logged. Then we spent a further $4m as part of our obligation drilling it with another 30 holes. If we had to pay to do all 194 from scratch in today's money, it could have cost us over £20m. A huge head start to getting that big discovery. On this basis I believe we will split the underground from the shallow pit.

We have an agreement with Statunga that we pay them $6m of any sale then 25% of any profit after that. Page 8 of the yearly report shows there's some big numbers of copper in both.cut off grade shallow pit 0.25%. The shallow pit alone appears to have over $450m of copper in the ground, using Addisons assumptions of $9000t copper, 0.85 recover through acid leeching. Say we sold the asset for 10% (hopefully more) of that... £45m and a cut of the profits. We'd have enough for a good way through Shinganda going it alone, the Western foreland, kamativi and luansobe Deep.

Also if someone buys Luansobe shallow pit, we know they have access to the funds via revenue to then later purchase luansobe deep of us at a later date

Word from the mining Indaba is that there is going to be a significant upturn in 6 months with the mining sector and companies are positioning themselves for that arrival

Hi LJS

we use the broker SHARD, they haven't released a new note for a while now, I think if you Google "Shard Capital Galileo Broker Note", it comes up, albeit a few years old. Its a very good point, regarding coverage of our assets. towards the end of last year when the accounts were published we had line item of some £60K for a broker on there. CB made a point in the interview that followed about how much costs have gone up (previous years if i remember rightly were mid 20k ish). Maybe better coverage would require more investment that the standard £60k

The chairman's statement containing the below information isn't in the Rns (on LSE at least) for the half year report it is in the actual report on the website

I'm going to have to hold my hands up on this one guys. I missed the info we have been talking about in terms of our holding in BC ventures.

Page 3 (the first page with any info in it, and paragraph 2, the first paragraph with any info in it.....oops) of the 2023 annual reports states we now own 80%

https://galileoresources.com/wp-content/uploads/Galileo-AR2023.pdf

"In Zimbabwe the Agreement with BC Ventures, we

acquired a 29% share of the company which we announced

on the 10th of August 2022 and at the time of the report,

we have expended in excess of the expenditure of USD1.5

million required to acquire 51% interest in two Zimbabwean

projects, thus entitling us to become an 80% shareholder in the BC Ventures company"

Update

Sandfires A4 expansion is 6km from T3.

Our 253 anomalies are condensed into 6km.

This confirms that if we drill copper here this very well could turn into a saleable mine site that encompasses all of the anomalies

* buy Cobre

I remember that Coyote.. "black sheep", "dark horse".....same....ish. haha

Thanks for putting me right. Shinganda has always been a favourite of mine.

I'm way behind today apart from reading the RNS. Just about to listen to the podcast.

I really like how the AGG survey shows a concentrated pocket of potential copper containing anomalies. If you were to drop a mine shaft, you'd want it in a place that's close to alot of our bodies. Looking at Cobres report theirs seem quite spread out. I feel this increases our potential of 253 and puts us in a better position for the land grab

I'm going to catch up and maybe compare 253 to 039 and 040 reports from 18 months ago. Also sandfired T3 and how far away the A4 expansion is. I'd our 253 is a mine in its own right, with 3 targets, the 2 not part of the Inital shift could be expansion projects.......for whoever the potential buyer would be

With a market cap of only $20m Aus, I think it won't be long now until Sandfire make a play to buy them. They are onto something with Kitlanye west, so why wait until they prove it up more and become even more expensive to buy. I think in that same transaction we will likely sell our KCB Licenses too. More so 253. Especially now sandfire is ramping operations up and finally making money, they will have cash to spend.

From a cash point of view, I went to the AGM and asked specifically about how much cash we have vs our commitments. At the time we had (when you collate the RNSs) $4m to spend on luansobe, $1.5m on kamativi and bulwayo and $500k on shinganda.

The answer was that all of our commitments were settled apart from the new asset in the North Western foreland of zambia in which we have a commitment of $750k over 18 months. Another share holder also proved about dilution in the same conversation and CB replied that they would not do another cash raise and instead opt for utilising the shares we have in Sandfire and Afrimat to sell to obtain cash.....confirming with Joel (also on the top table in the agm) that we could "get hour hands ok the money" in 24 hours if need be

Kevin says the name "Galileo resources" at about 59mins and mentions they are going to Namibia and will have information to report back. A bit miss leading imo to signpost GLR in the podcast and it not really be discussed.

I believe that is the plan. Hang on for as long as we can on our own, proving the size and content without partner.