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Hi Analytical

In the AGM I asked about the mining license for luansobe believing at that point that it was the gateway to our revenue. To sum up what was said, is that the mining license was no longer such a big priority as the landscape has moved now to favour selling assets. Partially due to the political landscape in zambia currently of it taking alot of time and effort for a company to employ and manage local artisans/mining companies. Something not particularly viable for us in the current set up we have with our company employees.

I spoke to Martyn after the AGM and he said we had turned down an offer on Luansobe. I enquired about the tailings seen in one of thr JLP refinery and that it looked like we were a stones throw away from getting a license and setting up an offtake agreement with them. To which he replied they had put a really low offer in for our Rock that we would sell. In the region of $9/t......I think. This was dismissed and the way it was described to me was also said in a dismissive Manor.

This is the extent of my knowledge.. but that makes me believe the offer to buy the pit was not by JLP.

The AGM discussed sales and with that a very high % of total revenue from the final product.

I think you're right Analytical. In my personal opinion I think JLP will want to buy Luansobe open pit.someone else will mine for them and we will get a big chunk of cash up front and a high % of the profits of selling concretrate or actual copper cathode.....30% for example.

I think we might be further on with that Cyber. 11 holes total and complete. 6 of which we have monitored with XRF or in field analysis and can tell that the 6 drill cores have Pegmatite in them. 1 of the 6 went to the university of Zimbabwe for formal assays and the pegmatite was lithium containing (short version), so it can be assumed there's lithium in the other 5. all 11 (including the initial 6) are now in south Africa awaiting formal Assays.

that's the way i have read the updates anyway. hopefully sitting really well for our negotitaions

Agreed, the Magnetic picture has given clarity on where the various pits and drilling works are. when you map that onto the Zambia mining cadastre, you can see that next to "WS" copper pit there is a small scale mining licence for copper under the name of "Wang-Shen Mining Limited"

Hope you have a good holiday Iky, and thanks for the insight. Fingers crossed for us, we are getting there. Seems just a matter of time now

It appears the website is also going through an update which is great news for us.

Also excuse spelling. My predictive text is way off

* I'm still frustrated at that ( the formal update still not arrived). I'm sure it will come though

We out a hell of alot of hard work getting to JORC...."now what?" sort of thing.

Hi Prickly,

I share your frustration with the "boom" not occurring as yet. However when you look at it, we have had decent updates on Luansobe up until the JORC.

We managed to get from 30/12/2021 to JORC in 14 months. Final notification of this 9/2/23. The statement you posted was an estimate at the very start. The mining licence went in 4/3/23 (Q1 2023). I feel an under estimation of the mining license application process in Zambia is what happened. I fact when that statement was made, the mining cadastre in zambia was actually closed (opened somewhere between Feb and Aug 2022). I'd say this was CBs mistake making rhe estimate with such a large imitation and not mentioning it.

By comparison we have made a 5mt small pit JORC in 14 months and Starzinc 400k tons took 22 months. We bought luansobe with 8000m already drilled.

Imo we will see some sort of movement on the mining cadastre licence end of Jan/Feb next year. I have been watching other licenses and it takes approx 9 months to see something move. CB did state however that the license was no longer required for us and what we have planned with a predominantly sale based future plan for the asset. My personal thought is the license will certainly help a sale. CB said in the AGM we are owed an update on lunasobe when I pointed out it has been 9 months (at the time) since our last formal update (that wasn't an interview for example).

I'm still trusting that.

As for the great October....we received kamativi and shinganda updates and the first week in November the SP increased by 45% we are now holding an approx 30% up still. Not too shabby really.

I think the "boom" will come imo, at the same time tho om not putting sown your thoughts on the matter because mine differ. Cbs other companies are certainly not performing hugely at the moment so I can understand your scepticism.

I just copied this off the Jubilee telegram group

https://news.bloomberglaw.com/mergers-and-acquisitions/abu-dhabis-ihc-to-win-control-of-zambias-mopani-copper-mine

Great news for Zambia and those like us with copper assets nearby.

I can see sale of an asset and abit of furthering if others, take us to 4p. We will then leg up from term to 8p on tw sale of more and once we are recognised from the first sale as a serious player in the game with cash behind us and results that reflect our potential (the potential that we can see as investors)

My twitter page.....(basically an un official GLR page, it has nothing but sharing my thoughts and research of Galileo) got followed a couple of days ago by an mining investement company Kazera Global (they invest in South Africa and Namibia)

At a time of strong rumours of meetings with investors this can't be just a coincidence. There would be no reason to follow the page unless they were interested in information on Galileo

I think this is worth abit more digging into abit more. Its looking promising for us when Cobre have flown their PLs in conjunction with SFR and agreed to share with us the results as they have to fly over PL253. Imo you're right HD, by association our licenses will have increased in value. There's new discoveries popping up in the North and the south, we have licenses next to both. Imo we should approach the buyer of Khoemacau (MMD) and negotiate a sale price. Sandfire who have first right of refusal will have their arm twisted to match or better the offer. There's competition we can use to our advantages

Excellent find LJS

The dumps are on average 0.58% lithium, our drill results just 60m deep dext to it are coming back at 1-2% (so far). Surely they Will be looking at acquiring the surrounding area as well for longevity or for mixing the 2 together to make more viable

Looks like to me

KCB - another big player come to the table creating competition for land grabbing. We have 15 licences 5 off right next to major discovery's to sell. Martyn stated he wanted to get results back for 253 and sell on (maybe a package with 252 and 254). 39 and 40 to the new owner of CCC maybe. The rest pawns to get rid of

Zimbabwe - confirmed discussion already in AGM and by Mr Ketchup for kamativi

North Zambia - CB confirmed in discussion already with both bidders of Mopani. Martyn stating in the AGM we have already turned down offers for Luansobe open pit

We have our feet under the table in a few places

I don't think anyone will hold you to your prediction Iky. Only someone watching Colin type the RNS out can really predict when it will be published. Doesn't matter if its this week next or the week after. We know we sit in a good position with our assets and we are already turning deals down.

I have become friendly with someone in the commodity business in Zambia and he said "the chinese" were looking to buy his trading company.....they said no. I think everyone is playing the same game and waiting for a good price or better deal round the corner. The green energy train may not come as quick as some might like, regardless there is a demand higher than supply for copper, lithium, zinc etc in the current modus operandi of the world, without a dramatic increase in green energy solutions. The demand is sure to come. The longer it is held off for artificially, the steeper and more extreme the curve later. We just have to put our trust in the board to position us for that day.....sooner rather than later it feels like.

The snippets of info from your ketchup friend and the information we got from the AGM feels like we are there

Cobre up 50% today due to it having a couple of licenses close to Khoemacau and MMG, they have 2 near the mine and we have 3. We have a total of 15 licenses remaining on the KCB, and are in the top 5 land owners just behind COBRE. Why shouldn't we get some of that value reflected back on us like Cobre has too.

This could be very good for us 040 and 039 are just 5km from zone 9 the new discovery and 15km away from zone 5.

Sandfire have first right of refusal if we put up for sale, this will cause competition as we are in prime territory and competition will want to own the license at worst so the other can't, at best to explore further

https://twitter.com/Sharedata12/status/1416066942801166337?t=M--eNaIdAR41G-YPe_CIvw&s=19

Predictive text I hope "shrewd" haha

Thanks Iky. Hopefully we hear something of the sort this year. I believe it's on it's way also, but more gut feel. We have Martyn, Colin and our new Appointment Mike Holman who can all work together to get us the best deal possible

an interesting presentation has been sent out by jubilee today.

https://t.co/alsp87jrec

it states they have intentions to process the mopani **** dumps and is dependent on the terms the final bidder for mopani

their 11th october rns on the same subject states they will be using ore from local mines to help process.

the above insinuates that leon c has spoken to both bidders of mopani and secured a deal and whoever wins the mopani bidding is the deal that jubilee get for the ****

we have heard something similar before in the agm related to luansobe. colin said he had also been in talks with both the bidders for mopani

what are the chances that a small cap company in zambia and also jubilee a large copper and cobalt processor have been offererd an audience and the 2 companies not be in some way linked.

given cbs link to jlp, the pre we saw for testing by the roast boys at sable or roan, the fact the report states jlp will be using rom from local mines......and both ceos have spoken to both mopani bidders.......surely means we are going to work with jlp.

a sale of luansobe small open pit that is "ready to go" to the bidders who win mopani seems highly likely.

It could be a big week next week. This week was meant to be the meeting week, next week we may hear the outcome of them

My thoughts too guys. A deal reflecting something like money upnfront, and ending in a payment when the contained Lithium of the assetbis proved (on a sliding scale) is my bet. That way we do what we do best, drilling and proving contained value and leaving the risk to others. I don't know much about Bushranger, some comments on the xtr board say it isn't quiet viable at this price of copper. Hopefully it comes good for them, however with kamativi if we gotnpaid for the content only then the viability risk is someone else's problem......similar to the sandfire sold licences but us doing the exploration