Member Info for JuniorLassonde

The announcement explicitly states: “The signing of the Agreement with Jubilee is the launch of an initiative for the exploration, resource development and mining of copper projects in Zambia…” The goal is to Identify and fast-track small to medium-sized copper opportunities in the Zambian Copperbelt — not just Molefe, but also neighbouring and similar projects with near-term mining potential + exploration upside. The last bit fits Luansobe to a tee.

It reads as Molefe serves as the initial “proof of concept” project, where GLR is earning its 23.75% stake and where success is expected to open the door to additional joint projects.

Basically, Galileo has signed a collaboration agreement with Jubilee Metals on the Molefe copper mine in Zambia.GLR funds US$700,000 in exploration & resource drilling → can earn up to 23.75% interest . Jubilee retains 71.25%, local Zambian partner holds 5%. The Arm’s Length Tolling Agreement simply means that Molefe sends its high-grade ore (~2%+ Cu) to Jubilee’s Sable plant for processing. Molefe pays a fair market tolling/processing fee and keeps the copper value (minus the fee). It’s a standard, independent commercial arrangement — not a discounted sale of ore. Once GLR has its stake, the deal is positive — it generates early cash flow from high-grade ore while the on-site low-grade plant is built. The “arm’s length” terms protect GLR as a minority shareholder from unfair fees.

An internal geologist from the JV parties is fully allowed and is the normal practice for this type of drilling update on AIM.

Full independence would only be mandatory for a comprehensive resource/reserve CPR or admission-related documents.

Ocams razor and all that - possibly Ed Slowey the Galileo Technical Director, BSc Geology, PGeo, EurGeol, 40+ years’ experience) is the internal qualified person who routinely reviews and approves Galileo’s announcements, including Molefe project update. Maybe he is the guy to sign off. I think CB might be heading to, or in Lusaka (TBC) and Maybe Ed is with him. Who know.s. Signed off soon IMO.

My understanding is the agreement explicitly notes that it initially covers the Molefe Mine licence area, but the greater Molefe area includes highly prospective contiguous exploration properties that Jubilee has already secured. These may be added via future agreements to replicate the Molefe model.

Jubilee has secured additional exploration permits in the surrounding district. The total area of these licences exceeds 16,000 hectares (160 km²), compared to the ~400 ha of the core Molefe Mine licence. All are within the larger Molefe district in Zambia's Central Province.

The current JV is focused on the core Molefe Mine licence (~400 ha), where the known reefs (INCLUDING any second/underlying reef) are located. Any expansion into the broader >16,000 ha greater Molefe district would require future separate agreements.

When new drilling results are released, they will provide more clarity on the second reef's characteristics is my expectation.

Deep pockets taking advantage of the mood swing.

I am wondering if Ed Slowey will be the competent person to sign off on the results given he is Galileo's technical director and qualified to sign off. I thought I heard that CB was on the way to Lusaka - not sure if Ed is with him. Not sure why Lusaka...

Agreed. Mountain and Molehill etc. GLR will have done their side of the bargain at this point.

Not concerned with their Admin process. I want to see the results.

Incorrect. The drill results being published have been delayed not the drilling. https://www.londonstockexchange.com/news-article/JLP/molefe-mine-phase-1-drilling-results-delayed/17516021 - that will require the competent person to sign off - almost always an in-house Geologist. I would expect that to be done quickly. Admin.

Has anyone done any calculations on Molefe - with some sensitivity analysis - on Tonnage per annum, copper %, cut off grade etc?

The numbers are huge.

JLP is happy with that RNS. Molefe Drill results tomorrow, restructure to enable dividends etc. Tomorrow should be interesting.

I would think so.

"Recent industry reports, analyses, and forecasts (as of 2025–2026) indicate the global average copper ore grade is in the range of approximately 0.5% to 0.6% Cu."

The cutoff grade for Luansobe is approx 0.25% - I would expect similar for the Molefe open pit.

High grade Cu, low cutoff grade is a recipe for very good ££.

Thanks WWT. Released with a proposal to "reduce its share premium account (Capital Reduction) in order to restructure the Company's balance sheet so as to increase the amount of available distributable reserves available ... to support the Company's ability to make future payments of dividends to its shareholders and undertake potential share buybacks ". Sounds like they expect Molefe to deliver the goods ... great for Galileo

Yesterday - https://audioboom.com/posts/8875277-midweek-takeaway-with-colin-bird-xtr-bzt-afp-ken - no mention of GLR. Sometimes it's what you don't say. Afraid of making another slip up?

Around about 21:00 https://youtu.be/0lGGBg6_b0g?t=1259

Happy with the rise today. Ram the castle gates through 1p then deliver the deals and we are into serious multi-bagger situation.

Those who accumulated ready for the deals to land ... well done. They will land.

Indeed Chri5p. All the other CB companies were under par - and have increased dramatically since. A few triggers will get us there...

When you look at the increases on other CB associated companies we are currently trailing.

Ready for the bell for the last lap to ring in the 10k and to make our strong move :-)

Tick tick tick ...