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that's about it :-)

Hi JDAU

in short, we cant sy for sure as you have found the RNS is abit vague and doesnt say why specifically we are not seeking the exploration liscence from BMR/JLP

If you search my post history, 2 days ago i wrote my explanation/theory over 2 posts "1/2, 2/2"

Westlad a few posts before me gave a similar opnion in a more condensed way

what are your thoughts?

Hi Ella. I understand your thinking. Of course my logic relies on the ability to do just that and have the ability to apply for a mining liscence over the top of someone else's exploration liscence. Whether this is a set process you can or can't, or o a case by case basis assessed by (permission given by exp liscence holder as part of mining liscence app maybe) the ministry.......from my view we have managed to do this.

Iv had a look at the mining cadastre and there seems to be other examples of what I'm hoping Is the case

https://twitter.com/Sharedata12/status/1361778585728651270?s=19

Altho it's a puzzle I'm happy that the liscence in the cadastre is for SZ and we will have monetisation benefit from it. For me..... 95% of the royalties as 95% land owner

So we can now look forward to the next few weeks and a hopeful update.

2/2 after reading many articles about mining in Zambia (im at work so have none to hand on works network), there is a big push by the government to stop exploitation by forgein companies and to employ locals so they benefit from their mother land etc. Also foreign companies cannot mine in zambia. To get around this they create or buy local companies i.e Enviro processing Zambia in GLR's case. (EP Zambia own 95% SZ)

so after all of that, i believe Mr Chelelwa is hired by Enviro Processing ZAMBIA (GLR) as the SME for mining SZ (it will be him who advised the liscence can be Artisanal as SZ is less than 2 cadastre units in size and the method of rock removal will be a simple pit digging. A small scale mining liscence goes up to 6 cadatre units which is too big) . this keeps within the rules of a local company mining and also benefitting locals as a work force.....tick in the box for rules

no where have we read that you cannot mine a patch of ground that you dont own the exploration rights to, it is just the suggested route and probbaly the norm………. explore then mine. We arent the norm we have an already proven and explored patch of land.

the hole in my argument is terminology used in the RNS's as the word "rights. we dont know what that means really. My interpretation is when refering to BMR have the rights "you have the right to explore with your exploration liscence". i dont think it means BMR/JLP have the literal Rights to do anything with the land........even though they dont own it and no one else can…………even the land owner, that just doesnt make sense.

obviously short of someone clearing up for sure but that is how i am piecing together the puzzle.

1/2 Galileo own 100% of Enviro Processing ZAMBIA Ltd , who own 95% of the share capital of Starzinc project
BMR own 100% Enviro Mining, who own 100% of Enviro Processing who own the SZ large scale exploration liscence - now owned by JLP

I see it as, the original plan was to transfer the liscence from BMR (Enviro processing) through zambian approval to GLR( Enviro processing ZAMBIA) so that GLR would effectively own both. this is also stated in the JORC so this plan is several years old. The Large scale mining liscence runs out this year in august, so theoretically the large scale liscence has been usefull, as the liscence covered 4300 hectrares and there could be some value in other areas. even the SZ JORC shows some mapping of historical data of areas of high interest well away from the actual area we are about to dig a pit which just 100m x 60m (the bit we own) (approx...even thats abit big of an estimate off the map)
Starzinc (the patch of land we own 100mx60m including the historical pit) no longer needs exploring, it has been done. we now need to mine it. so we need a mining liscence originally thought to be small scale.

so this part is my opinion:

BMR carve up has become really messy, and to jump through the hoops of transfering an exploration liscence of 4300 hectares that we have no intention of using has no value. so we are no longer seeking ministry approval to do that. also probably because the liscence runs out in Aug this year anyway so why bother.

haha, thanks Ella. i admit, given the un clear comms aroune the transfer of licences etc from BMR inthe last RNS it makes a difficult story to peice together

it seems i under sold the Chapamo mine in my last post. its nick name is "black mountain" not "black hills"

https://www.znbc.co.zm/news/black-mountain-mining-plan-needed/

see link for reference to Mr Chelelwa statement from when he worked there. it seems he is ofe' with mining applications

Hi Westlad, in the Map Key on the bottom left of the map you can toggle on "applications" it will then show you that Mr Chelelwa applied for an artisanal liscence the same co-ordinates as SZon 25th sept last year.

one one hand this opens up alot of questions, why Artisanal liscence, who is Mr Chelelwa etc

on the other hand, there is no second blank box on the map, so there is no other mining application in the cadastre for the area of SZ. so CB must be lying if about the ministry being happy, the application being in etc etc, if he is not related to Mr Chelelwa in anyway
I googled him, and he is a mining manager that used to work at a copper mine in 2017 and lead a gang of artisanal minors contracted to work at the "black hills"............could CB have done the same. the black hills is a much larger mine than what SZ will be.
why would a random person apply for a liscence over some land that doesnt belong to him? the process isnt just filling in an application and sending to the minsitry. it is very onerous, and costs alot of money in terms of the environmental impact assessment, pit design, access/egress onto public road plans, tailing/spoil plan, and then how to return to green once the mine/pit is defunct. I cant see Mr Chelelwa doing all that for land that isnt his

thats my view anyway. we shall son find out.

i would say tht too Ella. so anything sooner is a bonus :-)

Hi Padmaster

https://transparency.org.au/publications/zambia-mining-licence-process-map/

above is the link to the website, half way down is the "download" button for the process map. we are at section 5.1.

so assuming Ella caught the approval on the same day (which she beat me to it haha) then i think the clock started ticking yesterday

We are on the home straight with the liscence now, the huge hurdle of getting the app approved by the board is complete, the Ministry can now issue the liscence. According to the process map for application, this can take up to 30 days. the emphasis is on "Up to". just to settle expectation with the way the BB is at the moment expecting news etc

Hi Ella
If you mean Silver and Germanium are missing, my own theory on that is because it wasn't part of the original JORC and 105g per ton of silver is pretty negligible from a volume perspective so can be considered as rock. We are only really removing rock and sending it up the road the road further processing. Probably something to do with that

we need formal clrification of this. I believe it exists or there is a plan as the Artisanal mining liscence was applied for last september, we know through your email from CB that he has been to Zambia himself in november to speak to the ministry about .....a liscence....... and they are happy

the process of applying for a liscence, small scale or Artisanal is very onerous (environmental impact assessment, pit design, spoils/waste plan etc). it would be a waste of time for someone to do all that work to apply for a liscence on land that they dont even own. Even though we dont know the detail of the arrangement between GLR and MR Chelelwe, the alternative of them both working in isolation as land owner and liscence owner doesnt make sense

As HD said, it seemed to be playing up. said 4 new posts, but i could only see 1 up until now where there is 8

lets see if we were right about the liscence, the map co-ords are the same, as the JORC for SZ as they are on the mining cadastre.

Boom! well done Ella! thanks for sharing

a tad quiet arent we at the moment.

weve had some good info to digest from posters over the weekend, but this is the hardest part....."the wait", cant expect a nice comfortable ride up with weekly nerve settling info. we are half way through the quarter and some big things coming up this year, im happy to sit it out, topped up just now as putting my spare cash each month in :-)

For alot on here their investement is alot of money that could be life changing, there is nothing wrong with getting excited over your investement

When the sp moves from 1.8p to 10p like concordia did, that would be a good time to start really thinking about the future of your investment and how high the peak can actually go and how long you want to ride it for given your own research etc etc. Currently we aren't even out of the starting blocks in terms of sp movement if we are comparing to Concordia and imo seriously undervalued and with cash in the bank and plenty more news to come to back up the "hype".

Ps I'm not one of the "some on here" who wants anyone to lose any money. I share my research and opinions and happy to discuss any of them so that others can research further and make their own decisions. Pack mentality helps more than going it alone in terms of learning and predicting your own company/investment future

There is no such thing as "Must" of course when it comes to shares travelling in any direction

The general trend of a placing (or new shares created and sold) though, is that the SP does tend to move towards that direction.so SF chose to agree on a 25% premium as they felt that was a fair price, and if a major felt that was a fair price then the rest of the market tends to think that also, especially when on a steady up trend like we were.....again not set in stone. So you would expect to see a rise to close that value in the re rate. I have to admit, iv seen this many times before, but only in reverse and the new shares sold at a discount. The sp has pretty much always fallen. Amount of new shares created and % difference sold obviously makes a difference as well.

Why has the price risen Billy from when you invested?

Good answers all. Sometimes we can get a little caught up in wanting news now, the future doesn't get discussed much and thats where the big numbers are :-)