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just been through the final yr report. my key takeaways

£1.4m in cash in the bank

£2.1m due april 2024 from afrimat

bc ventures kamativi 10 drills awaiting results back from 9 cores. 1 with 2% lithium and 0.4% tin

bc ventured bulwayo - soil sample assays to recieve back for nickel and gold post airborn survey

total of £1.5m to spend by july 2024 (we are some way through thay now)

luansobe: updating block model and mining license application in for open pit (zambia mining cadastre)

shinganda: £500k spent to up our share to 65-85%. further drilling to commence imminently along with further soil samples (large scale exploration license now awarded)

kcb retained

pl040 and 039 - 3000 terra leach soil samples being taken with a mind to drill further this quarter

253 - same as above supplemented by cobre/sandfire airborne gg survey

sold - 251 results show soil anomalies liking to t3/a4 and will be flown agg by sfr - awaiting results

ka****u - finally confirmed by cb that we have an agreement with local artisans to mine the 30%+ willemite (zinc ore).....license apps can be seen on the zambia mining cadastre

my opinion - we have plenty of cash, plenty of progress already worked for and are awaiting the results back to see what we find

most importantly luansobe and ka****u mining licences are imminent and our update on this will be the 75th ans 76th update due this week from the zambian ministry

i read it the same as you flipper. seems there's still a journey ahead for the afp licenses (i had a little check of the botswana mining cadastre)

https://portal.miningcadastre.gov.bw/page/mappublic

the 4 licences seem very well placed, so good luck to afp and the link to fq is so good for them imo.

back to glr, that is also my belief around larger finds. its just a matter of prioritisation from sandfire now they (i assume) have upheld their obligation on spending the last 2 years. the afp report says they are quantifying expenditure from sandfire and since the people who run afp are pretty much the same as glr i expect them to be doing the same for our licenses and we will hear in due course the results and hopefully next steps.

i haven't had chance to listen to the podcast yet, hopefully there is something in that with regards to priorities. i did find my notes from a may 2023 roast interview today (while cleaning up) and iv written a quote from cb saying luansobe will be 100% running by feb next year. i expect that will continue to be biggest priority. it is paced by license approval tho, as is the zinc play at ka****u

hopefully this week we get the 75th and 76th mining license update from the zambian mom

Guys the good news for GLR is that the agreements are different altho the expenditure part is very similar

AFP vs SFR was a 2 year "option agreement" whereby there was a commitment to spend but an option to proceed further at the end ( unfortunately for AFP not taken)

GLR vs SFR was a 2 year "Sales agreement" with a commitment to spend. At the end SFR have still own the PLs. Imo this is less risky for both SFR and GLR. The incentive is still there (same incentive for AFP) and sadfire would be more inclined after the 2 years to spend money in their own licences rather than someone else's or take a risk by buying and then having to spend more exploration on them

PL251 and 252 originally from GLR and bought by SFR covers a huge area around SFR T3 and A4 (expansion), also pl 366 had visible copper in drill cores before we sold them. I think those are the better of the bunch, but fortunately for us where ours stand above AFPs as well. Good luck to them with their endeavours, but as I'm invested in GLR I believe we are sitting in a good position with our Licences retained and sold (to SFR)

This pic shows the many islands of PL 251 and 252 filling in the gaps of SFRs pink PLs. £1m of the £4m had to be allocated to these 2 licences alone. I think they will continue to explore past the agreement date with us. Plus as the licenses are fragmented they are much more likely to encompasses in total a large ore body for the £80m payout

https://twitter.com/Sharedata12/status/1419754560030187520?t=YmC-kvyC9EQZS_g1QQBAcQ&s=19

Https://m.facebook.com/story.php?story_fbid=pfbid02YNtJRLtQHUwJtuxwve7YV5MxDVRob9uURUFJbyNCaXh2k3b3BxA847ZeuTj1g5sdl&id=100069261307422

China investing a further $1.5 billion in the copper belt. That's ontop of the $3.5billion from the UK and $4billion from the US

"Cooperative Partnership is already bearing fruit. There is a lot of expectation from the people of the Copperbelt and we will not let you down"

Quote from the fb post. Zambia won't upkeep their promises to investors without opening up new mining sites and approving new licenses

Re the seasonal mining convo. CB said in the interview a while back where he spoke about upgrading on site at Luansobe, that the open pit would work all year round.

I guess this is why he was able to go so South Africa for a mining contractor (confirmed) as once the machinery is in place they have the full LOM to go at. Rather than standing dormant and losing money in the wet season or having to ship it elsewhere. Just waiting on the mining license which has had others passed off around it recently so fingers crossed ours will be too.

Im unsure too BSm, although the 70 and the 71st were released together. it could be a repeat of that. one things for sure though, it will come.

encouragingly the boundary of the Luansobe small scale mining licenses have changed in the last few weeks on the Cadastre. This shows its getting looked at

thats the same in my experience money. yearly update, plus a future update on each project. on a few occasions iv heard cb say in interviews he has used the business updates to do the same role as an rns, rather than sending out the same info twice in a short space of time.

to echo analytical, we have plenty of it coming up. keeping an eye on the ministry website also for the 75th update on issuing mining licenses. luansobe and ka****u each waiting with multiple submissions

Agreed on the small amount of shares in the deal. $1.5m commitment and small share numbers up front. Colin must be confident in more cash into GLR and broker a deal convincingly that our shares are going to be worth multiples

this is hinting at Luansobe coming on line very soon

Me too, further results from the lithium cores also an update from Sadfire as now the 2 years is up for which they had to spend $4m on the licenses they bought off us. Money and or findings are owed to us by them now.

A nice earner for us.....particularly now Sandfire are making concentrate to sell. I'm expecting their SP to increase

It's also their financial results day today, but haven't had chance to look at the presentation yet in detail. A quick glance shows an outlook for 2024 also

Cobre up 10% already tonight on good of their KCB tenements, particularly Ngami to the west of our PL253

https://app.sharelinktechnologies.com/announcement/asx/ec60de40acee6c8827258563b1c429bb

This is good for us as by proxy increases the value of us "just over the fence"

Terrible detective work Fulmar29 (eye roll emoji)

"2.Why does his chief cheerleader need so many aliases and even talk to herself sometimes? CruElla/Ella10/MaBaker/Dani/Sharestar and the list is literally endless-it all seems a bit too manufactured and desperate-"

From XTR board. Seems everyone is Ella

Ps I'm Ella

Great point Analytical. No time wasted on re negotiation of the original deal and the service given for free. Nothing is ever free, there's always intent behind it. Looking forward to seeing what it is.

Also, back onto the licenses we sold. Pl366 drills hit visible copper. This is rare. The correct lytholigy was found on both our retained and other sold licenses, but to find a visible copper is really something. COBRE, found visible copper on kitlanye (next to PL253 :-)) off the back of this they then multibagged, allowing them to raise $10m for further drilling. This wouldn't make a dent in Sandfire SP, but it lends itself very well to the resource payment we have arranged of up to £80m

November 21 RNS

"Drilling on the Sandfire Agreement Licences intersected visible copper mineralisation at 242.7m in core hole BDDD004 on PL366/2018 in the form of vein-hosted chalcopyrite. This interval will be sent for laboratory assay, along with other zones of interest highlighted by detailed logging of reverse circulation chips"

We should receive a the sandfire update next week.

Exploration information and or a sum or money

"

i) Change the long stop date for the meeting of the conditions from 31 July 2021 to 31 August 2021;

ii) Sandfire to at completion of the Licence Sale Agreement, reimburse Galileo up to US$500,000 of exploration expenditure incurred by Galileo in relation to licence obligations of certain Included Licences being transferred to Sandfire (the "Reimbursed Exploration Expenditure");

iii) Sandfire's US$4,000,000 Exploration Commitment under the Licence Sale Agreement to be reduce by the amount of the Reimbursed Exploration Expenditure"

It's about time "they" stopped messing about in the market and recognised the short fall in copper supply withing the proce of copper

It's probably being held down to stopnthings going crazy expense wise in an already struggling world economy. However it can't be artificially held for long

Great interview for both JLP and GLR.

Totally agree, Luansobe was dropped in there on purpose. These interviews are paid for by the company to deceminate the information out that they want people to know.

The fact JLP are a big influence in Zambia, helping their environment and employing 500 locals will mean the government will be doing everything they can to help (as proved with the short lived electricity and water problem). This "help" will flow down to JLPs enablers ........in short us. They will want our small scale mining license to go through to keep the Rhoan plan going and those people employed

This ducks are really lining up now

1.5p next after we get through 1.3......going from past performance

I agree with you CHRI5P, below is from an earlier kamativi RNS. When you take into consideration the size of the asset and we put 8 or 9 drills down and hit 1% lithium on the first one, is pretty amazing.

By comparison on the KCB similar sized assets (pl 040 and 039) we were having to drill and prove it just had the right rock lithology where you might find what you're looking for (in that case copper not lithium of course)

Huge win for us and more results to follow from the remaining drill cores

"total of 5,326 samples were collected in the form of rock chip, stream sediment and soil samples, the sample type being dictated by the extent of bedrock exposure, and the terrain. Of these samples, 1,661 were initially selected for laboratory analysis based on pXRF analysis, comprising 79 rocks, 87 streams and 1,495 soils. Soil sampling was carried out on a 400m x 40m grid spacing"

Agreed Butlerman

Form my experience of CB he doesn't say things in interviews that blatant that don't mean anything.

We have seen from his twitter he's been on SA looking at mining contractors, he referenced this in the interview

The Sunday Roast guys reported back test chippings of rock from luansobe at one of the JLP refinery

The mining license app is in on the Zambia mining cadastre from march

50k tons a month of rock for 6 years LOM and JLP RNS references the same set up today

All coming together nicely

"Jubilee has secured an additional 6-year Copper ROM supply at Roan on the back of the targeted expansion of the operations. The ROM supply agreement targets the supply of a minimum of 2% total Cu grades of previously mined material"

This is really good if it's what it sounds like !!!