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what very strange posts MM.

No doubt Leon is key to JLPs success, but to attribute all of their success to him? no business deals and assets being acquired means he and his engineers couldn't possibly succeed. like saying a football teams success is nothing to do with the manager.

Also to choose a duration in time to analyze SP and relate that to a CEOs lack of competency, i thought you were better than that.
whilst factually correct if you invest at 20p and SP is now 10p you've lost 50%, it means nothing in relatoin to CEO performance in isolation. Example: in August 2010 When CB stepped down as CEO to Non Chief Exec the SP was at 37p. Leon took over as CEO and now at 10p (CB has also been stepped down from Non Exec for over a year and in that time the SP has declined by a further 50%). A Pointless argument on using SP can be easily constructed on pretty much any agenda.

meanwhile

JLP latest RNS is likely to be talking about us as the 3rd party

"These trials have been extremely effective and not only allow for significantly lower operating costs, but also for Sable to produce copper from mixed materials such as copper sulphide and copper oxide ores. Jubilee believes that this new approach to extraction offers significant growth opportunities in the country. As a result, the Company is examining new Run-Of-Mine material agreements with third party producers which offer the potential to further enhance growth for its operations at the Sable Refinery"

Thanks Analytical, hope you have a great Xmas too

Looking forward to more sparks flying in January

Green coffin can only mean one thing...... VB turning up. when i blocked him the Sp was 0.8p, since then its gone up to 1.6p and settled around here. Im guessing bagging isnt enough for VB, hes criticising as to why it hasnt multi bagged yet and rubbishing others opinions on how or why that could ever happen.

SP highest its been in over a month also

in the last month our shares in Sandfire alone have increased in value by £700k. approx 5% of our MCAP, no reflection yet on SP really, probably due to the large spread. along with our 2 very positive RNSs recently this should create upward pressure tht cant be held back much longer

Fantastic for Cobre! looks like they made the right decision to buy the rest of Kalahari metals.
Kavango now have a major on board byo Kansagra Family & Solai holdings
Sandfire Motheo to produce first concentrate 3.2Mtpa Q2 2023
Sandfire A4 expansion to complete Q2 2024

so much investment in the KCB. Companies taking positions on a large scale. The KCB will completely transform mid next year when Sandfire start earning money. Their budget will be huge and there will be a Land Grab on...….its already started. If only we had contacts in Sandire...........oh wait, WE DO!

We've had some great news the past week. I really thought the Luansobe drill results would add value to us. Copper price is on the up, so can't be that. Great results from Bulawayo and really promising prospects for future drilling.

MMs holding us at a really ridiculous spread of nearly 15% , I haven't seen that sustained for this long ever.

Positives though, it just means the lid on the pressure cooker is held on tight and that pressure is definitely building. We can see our assets being further progressed, copper price increasing, our sandfire shares up 40%+ in a month. Eventually it won't be able to be contained and the lid will blow off.

Strong support at this level which is a good sign when you look at other companies in the sector losing day on day

Some good convo today all. Really useful insight into possible relationship with JLP and enriching their tailings with out Luansobe Ore, forecast for early part of next year

Possible monetisation and what values that could mean to us as share holders.

All very useful

Hi Aeris

The £5m I was speaking of is the final payment from Afrimat. Colin speaks very positively of it as if its been received in interviews or a done deal, some more reserved would say we have no proof yet. So I was pitching my stance middle ground. I personally firmly believe the deal is made and its just a paper trail yet to go with the south African government to swap mining liscence ownership and we should count that time in weeks and not several months.

As for the mining liscence for Luansobe, I obviously can't say 100% as we have no info......however i believe that the subcontractor would be the one to submit the application on our behalf involving the feasibility study we are producing and environmental impact assessment which shows the LCM of the mine. The Zambian mining cadastre is apparently back open today so we can track it via looking at that....i.e we should see an application going in. From scratch and providing all goes well, an application can take around 60 days. As can be seen from the starzinc example on the tweet below

https://twitter.com/Sharedata12/status/1569181964443480064?t=OFj-A9oW5UkiKtOqEmiqgw&s=19

So timescales still seem to work for Q1 next year as operational

The top 5

Luansobe: phase 1 pit to JORC, tender for 3rd party contractor out this year. Pit operational Q1/Q2 next year to coincide with JLP Project Elephant coming online to enrich their tailings imo
Bulwayo: further explore Gold and Nickel targets using a database being compiled by subcontractor with a mind to drilling.
Kamativi: major on the phone already interested
Shinganda: drill results 11% copper plus, already sharing knowledge with major
Afrimat/Glenover: £5m on its way...25% mcap easy and catalyst for the above

So many irons in the fire, if we get 50% of what some more wary folk could consider over promising, we are still multi bagging

8 bagger on the open pit alone!

No wonder we are aiming for JORC and tender docs out to sub contractors this year. When will the market wake up to this!!!!

Great point Castiron. The market is responding well to Lithium and Nickel at the moment.

Shinganda also with a major sharing advice with us.....they don't do that purely for charity

*seem fair to expect in year 1 some Dividends

Great Calcs Analytical thankyou. I agree with the assumptions you've made also

At $26m ish a year, it would seek fair to expect in year 1 to some Dividends. Say $17m for progressing our assets and £9m total dividend. Giving us approval 0.5p back for every penny we own/spend on shares.

Just re read the RNS from feb 2022, GLR does own a 75% stake in Luansobe. The feasibility study is for us to decide whether we can pull out at any time.....we have the right to do that built into the contract

"Joint Venture Summary and Update

As previously announced on 30 December 2021 the Company entered into a Joint Venture Agreement (the "JV Agreement") with Statunga Investments Limited (the "Vendor") covering the Luansobe Copper Project, Zambia comprising a Small Scale Exploration Licence.



"The JV Agreement provides the Company the right to earn an initial 75% interest in a special purpose joint venture company (the "JV Company") by making an initial payment of US$200,000 and a second payment of US$200,000 in the initial period from the date of the JV Agreement by 20 February 2022 (the "Initial JV Period") and issuing 5,000,000 Galileo shares to the Vendor. The second payment has been completed and the shares will now be issued at a price of 1.125pence per share. The Company will now be issued 75% of the shares in a to be established Zambian joint venture company (the "JV Company") to own the Licence (subject to Ministerial Consent) and the Vendor will be issued 25% of the shares in the JV Company".

Good points Aeris. These drill results are the first steps of many. Whilst actual revenue may be a while off yet, there will be a tipping point at which the market forward values us based on our progress towards that revenue. Milestones along the way are predictable, JORC, tender release, feasibility study, mining liscence etc etc. How much value they each add is something Galileo could be more forthcoming with by being open with numbers. It seems today isn't the day for that, we need to progress more.(positive side: countering the perception of over promising too early).

Agree Analytical, this needs max attention now

For comparison, looking back at Starzinc. That went to Jorc August 19 RNS, off take agreement made with Jubilee October 19 (60k tons of rock a year at 14% zinc). It wasn't long after this time CB starts talking about actual money. I.e £10m a year revenue through presentations etc. In April 20 there was a Proactive article came out stating the same, it was this time I invested and we pretty much bagged 0.4 to about 0.8 (can be seen on the historic graph stil).

Maybe once we get the JORC he will be more willing to commit to numbers. We should get JORC this year by the sounds of it, so not long now.

Good interview, he knows we are doing the calcs as he watches this BB. He's acknowledged the way we do them and even give us some rough numbers to calculate with. Quite clever really, committing without committing. We had it about right, infact we were a little reserved with the 50% ratio. He mentioned 87% or 75%.

Excellent point! Multi Bagger over serveral years from Dividends.

Obviously very loose numbers here, but the remaining 75% of the £48m is a very generous budget per year to further the assets we have to increase MCap and caterpult the SP

I'm looking forward too the next interview from Colin to see what he thinks the next steps are and how we intend to achieve them. Tender Doc out, the remaining 15 or so assays to come back.......dare I say it, potential customer or "home" for the rock to quote him from other assets

Last trade of the day 1.45p again.

Thought we might have ticked up on the amazing LU results. Stong hold at this level in both directions. Let's see what next week brings :-)

Monetisation of Luansobe will be huge for GLR. Those shallow drill results are about ad good as we could have hoped for when you think the copper was completely missed in parts by previous drilling. Guestimate accross the drill core results is average!

600k a year rock
2% copper
(Copper) $7962/ton

Max value $95m/y

As we are most likely to contract a company to extract the copper rock containing copper ore and then sell the rock direct. Rule of thumb I reckon GLR will receive half of the value (similar set up to SZ prior to asset sale) so

$48m ish/y .

Multi bagger and dividend payments could be on the cards as we will be very cash rich!