Member Info for JuniorLassonde

Yet it is odd that some stay invested.

Glenover was sold. Sandfire licenses were sold (with a bonus depending on JORC size). And he recently said - 17th September "- As announced, at Luansobe its preferred option remains a direct sale or JV which it hopes to achieve during the next 5 months;" He also just delivered a Molefi mine deal on a monetised asset.

Molefi is a monetised asset. Once the initial JLP investment is paid off its into profit sharing. The asset will likely get bigger with more drilling. A space to watch for sure. Cobre are also trending up nicely - next door neighbors to PL253. PL39 and PL40 are interesting. Shinganda has open pit potential as well as wider license area potential . Luansobe "- As announced, at Luansobe its preferred option remains a direct sale of JV which it hopes to achieve during the next 5 months"; Maybe even a spoke into JLPs Spoke and Hub Model. Maybe even Kamativi will be sold. We shall see.

- As announced, at Luansobe its preferred option remains a direct sale of JV which it hopes to achieve during the next 5 months;

https://www.lse.co.uk/rns/GLR/oversubscribed-placing-issue-of-equity-tvr-a13g2mnbwpt0nxt.html

The recent TR1 - 5% - shows some big hitters have assessed the potential upside and taken a position.

https://www.lse.co.uk/rns/GLR/holdings-in-company-kny9y93ts7e1g4i.html

There is also the Kalahari assets - e.g. Cobre have increased to $66m market cap having been in the doldrums for ages. Same with Kamativi and Bulawayo - waiting on those results. Ferber - early days - but in the right postcode. The Shinganda has open pit possibilities while they drill other parts of the license. Could Shinganda become a 'Spoke' for a Jubilee hub? etc

That's not what I saw implied. In some cases they advise on exploration strategy, but rarely. e.g. BHP made a strategic investment in the Kalahari, next door to one of GLR's assets, but only after Cobre had done the heavy lifting and submitted to a 'competition' amongst many other juniors, for $ plus involvement. In the case of Kiwara in Zambia which CB sold for $260m - it was only after the initial work that First Quantum came in.

Metaltrade - CB did not say what you stated. He said "Currently, the majors seem reluctant to become involved in copper exploration" which is factual. The majors often wait for the juniors to find something interesting - to do the heavy lifting in exploration work. Many majors have hollowed out their exploration capabilities.

CBE, the next door neighbour, has now gone to £32.6m market cap https://www.asx.com.au/markets/company/CBE

Excellent Result: https://x.com/cobrelimited/status/1995970510614663498

Setting up a mining division and taking the risk of exploration are different. I think a wider deal potential could be at play. GLR has a small scale - extremely high value - open pit mining license ready to go. A wider deal would not surprise for lots of reasons.

Project G was recently mentioned https://jubileemetalsgroup.com/wp-content/uploads/2025/08/25-08-19-Zambia-Update-August-2025-FINAL.pdf

Objectives and probability of success:

Near term (0–3 months): the stated aim is to maintain Molefe’s existing production profile while drilling around the current pit, essentially converting “mined but not yet fully defined” material into a more formal resource.​

Medium term (around 6 months): the programme targets replacement of depleted oxide resources, which is reasonably likely given Molefe already has multiple shallow pits and demonstrated mineralisation in an already producing mine footprint.​

Longer term: regional reconnaissance drilling is planned to test extensions and satellite targets in what is described as a highly endowed Copperbelt setting between established operations, which materially increases the probability of finding additional mineralised zones compared with a true grassroots project, though size and grade remain unquantified until results are released.

Colin Bird’s comment that drilling is proceeding “in line with the Collaboration Agreement” signals that the work is directly tied to underpinning feed for Jubilee’s Sable plant while systematically probing the broader license for step‑change tonnage and given Molefe is already in production and sits within a proven copper belt, the base case of at least stabilising and slightly extending mine life looks relatively high‑probability, while any substantial new discovery from the regional programme would represent significant upside

Probability of continuing success is very high IMO. This is mining and AIM.

A good copper price and trend means Jubilees loan structure for Molefe will be paid off quicker. https://www.livecharts.co.uk/MarketCharts/copper.php Then we are into profit share. Luansobe remains the big prize at this point.

It's an open pit, shallow mining, hence shallow drills and the speed with which they can progress. Perfectly normal.

Thanks BU - good insight and info. Much appreciated..

Exactly that WWT. The deal is not to get paid once all of Jubilees other non related debts are paid off.

Jubilee has a concentrator which process ore into concentrate from various parts - at Roan - in Ndola, and a Smelter - Sable in Kabwe. Stuff makes its way from the concentrator to the smelter. The Luansobe Open pit is about 25 - 37m from Roan depending on route.

If Jubilee delivers on pit integration, ramp‑up and on‑site processing, resource expansion, Molefe could become a long‑life monetised open‑pit operation with both high‑grade and low‑grade revenue streams, giving Galileo a leveraged minority stake in a meaningful Copperbelt producer.

2/2

For investors, Molefe/Munkoyo therefore offers a rare combination: an already‑producing open pit supplying high‑grade ore into an existing refinery, a growing low‑grade stockpile with a defined plan for on‑site monetisation, and an active, partner‑funded drilling campaign aimed at demonstrating a much larger copper resource and mine life.

Nice low risk profile, very high reward for Galileo.

Looking forward to the Luansobe (open pit element) , Shinganda (open pit element), and Ka$hitu monetisation on the top.