Member Info for Kaiser_B

My thoughts on this RNS, is that we MAY get oil from all three targets, which is why it was widened to the size it has been.

Now I know that people will probably have said this too, but it really is good news. It means that Saffron is going to be a go moving forward, especially if they took care on the second target to make sure that they can get to the primary target!

Now people will do what they want to do, but I was quietly confident that we would hit the primary target and would definitely get oil from it, but to get all three targets producing is just amazing and in my humble and honest opinion, de-risks the entire SWP acreage, it will be further de-risked if Clove comes in too and it may be worth going deeper here, if we can, to see what may be below that, because I think that they went short on it to up the percentage chance of oil being produced to 66%. Although I might be wrong with that, but we will see moving forward what Leo and the rest of the BOD's decide to do.

Personally I think that this was undervalued before this news, but now I believe that we are severely undervalued, but that again is only my opinion.

All the best to all holders, new or old with whatever strategy you have here.

Merry Christmas.

I agree with you about it being a civilised BB but that is because most people ARE in profit that frequent this BB, I have no doubt that if most people weren't in profit, we would see some discord/arguments. Me personally, I am quite a chunk in profit now, but that is due to trading shares and now having more shares than I started with by almost a triple margin, but that is the way of the world, isn't it? Some we win, some we lose.

Taken from the Jubilee Metals Inyoni Operations Web page.

- Current unprocessed 1.7Mt drilled and assayed chrome rich tails and the rights to a further c. 1 million tonnes of PGM rich material.

- Access to estimated 3Mt of historic chrome surface tailings, containing est. 224,000oz of 3PGM + Au.

- Further 17,000t per month of platinum rich material being added by Hernic.

So let's address these one by one:

Current unprocessed 1.7Mt drilled and assayed chrome rich tails and the rights to a further c. 1 million tonnes of PGM rich material.

So we know about this, as this what was mentioned in the RNS from yesterday. The extra 1 million tonnes is near to Windsor, so we can add extra tonnes there, generating extra profit. Nothing new here.

Access to estimated 3Mt of historic chrome surface tailings, containing est. 224,000oz of 3PGM + Au.

Now this is the bit that we want to know about as this is the reason we have spent 16.39 million dollars on the Chrome at Inyoni. We can re-process the entire 3 million tonnes and get most of the chrome out of it, especially if we get a fine chrome circuit going very shortly, as that will maximise our profits moving forward. Additionally once we have stripped the chrome the PGM basket gets even more concentrated, meaning that whilst the expense on processing it remains the same, we are getting more out of it, decreases the costs even further and makibg more profit which will help pay off this transaction EVEN quicker.

And now lastly.

Further 17,000t per month of platinum rich material being added by Hernic.

This is the important one for me, as there is still additional chrome tailings being added to the piles all the time, meaning longer life of project and more overall profit to the company for longer.

Now, for the future of the rest of the company.

It is looking bright really, we just need to get someone like Anglo American on board for reprocessing their enormous spoils/tailings and this will take off, but in all honesty, I am liking the slow steady rises and pullbacks, I just wish I had the courage of Kalan to get out on the spikes and back in on the dips, but I have waited too long for this to get back to where it should be, so I am not gambling with these ones.

Dkok,

It isn't MONTHLY payments! It is 30 BUSINESS DAYS between payments. So that is 6 weeks between payments. I have already pointed this out previously.

Sorry if this duplicates anyone's thoughts, but i have quickly skimmed over the posts on here and I need to correct a few people on a few points.

The most important thing here is the fact that people have grasped at, but not in its entirety.

In less than 2 weeks we have spent as near as damn it 21.5 MILLION dollars and there has been no placing to facilitate these transactions. Yes, profit finance will be utilised as an additional effort, but so what. The acquisition is occurring WITHOUT a placing!

Next i have seen at least one person say that we have 90 days from start to finish to pay off the money, which is in fact wrong. It clearly states 30 business days between payments and business days are Monday to Friday, so 30 business days between payments is 6 weeks or for the three payments it is spread over 4 and a half months.

Next, it gives us scope to put in tbe fine chrome effort, something that we wouldn't have done if Hernic or Newco were receiving the chrome as that would have been a BAD financial decision. Now we can re-process the chrome previously processed and extract even more from it.

Additionally, as owner/operator, we can approach other companies to toll process their spoil/tailings/run of mine and Newco don't get any of that.

Granted that last one, is pure speculation, but Windsor was purchased to run as a similar scheme, so it does make sense to control it all from start to finish.

Anyway, it is good news for us and one that if it goes the way of Windsor, we should see spectacular returns moving forward and we may even be able to fund Kabwe and get earlier production from just the in-house profits generated by Windsor and Inyoni.

Alternatively we may just keep expanding our company and eventually get to dividends.

That RNS is just great news. We are FINALLY at the point where we can do pretty large acquisitions without issuing shares and just getting them with cash!

Let's be honest here, everyone was concerned about the drop to 30% after the terms of the original contract were met, but to acquire the rights for all 100% of the PGM's and the potential for a further agreement to acquire the chrome concentrate, which I believe that we should take up as soon as possible, because then that will give us similar to Windsor and the revenues generated will just lead us to more acquisitions moving forward.

I will be honest here, I have kept my shares throughout the failed mine bid and the conroast debacle and middelberg sale, but it appears that finally Leon has got us to where we always thought we would be and admittedly it does feel kind of by accident and very prolonged, but the adage of Rome wasn't built in a day rings true and we might get the rewards that we have anticipated all the way through.

Good luck to all holders, whether short or long term.

I try to post occasionally on here and I try to keep it balanced, so that no one can accuse me of ramping or deramping, but I do love this company.

I have two holdings in this company, on ISA wrapped and one trading account wrapped. The ISA shares are the long term and I do try to top up as and when I can, but my trading account is for the bits of fun that occur here.

I sold 16,344 at 3.625 on the last spike and bought in again, despite it showing as a sell on here, with 17,005 at 3.39. Yes that is small potatoes, really compared to the holdings some people on here have, but considering I started off the trading account holding with 400 quid in February this year and got 15,151 at 2.64, i have managed over two trades to increase my holding by 12% in 6 months.

I am not gloating here, i am stating a fact. People should always take a bit of profit when given the chance, it is something that took my years to learn and I still hold companies that i should have potentially traded in that time, firstly to increase my holding and second to lower my average.

I haven't put any more money in to the trading account at all, but my average price per share has dropped from 2.64 to 2.352 and that is something not to be sniffed at.

I don't advocate follwing my advice to anyone else, ypu should dp your own thing, but just remember that profit is profit at the end of the day and sometimes, you drop lucky and up goea your holding.

Best of luck to all of us though, one hint of a big hit at SWP and this should move decisively to another level and stay there.

Moneyhawk,

It is actually worse than that mate, as 66,000 tons a year that hasn't been concentrated past 8%, (Yes one and all I am using the lowest figure available) to produce 40 tons an hour of Zinc means a throughput of 500 tons an hour, which even if split between us and Kashutu, with each giving 250 tons an hour, that means that they are going , meaning that with a 40 ton lorry load, they will have to transport at least 6.25 loads an HOUR to Sable, which is an obscene amount per hour, especially when combined with even the short distance from Kashutu to Sable, it will nearly be at least 2/3 lorries loading and returning pretty much all day every day. So yep, that will definitely only cost £2 million a year! ??

Yeah, sorry for the off topic nature here, I just worry that because we are contractually obliged to take in that ore, we will get shafted abit, but I really hope not, also the costs structure is more aimed at Jubilee, because if the costs are as low as we have been led to believe, Kabwe will be the company maker and springboard to make a potentially FTSE250 bound company in the long run, with potentially no project finance required for future projects and operations.Well I can dream, can't I?

Yes, I have listened to the same presentation, BUT there currently is NO mining licence, also yes there will be deductibles from the profit, hence why I said it is currently unknown. For example, WRES who have put detailed notes out about La Parilla give a complete breakdown of costs for the La Parilla T2 mine, where are those notes or costs displayed, yes we can go off what CB said on the presentation but that doesn't give definite costs, does it? Also until the breakdown of the RNS for the terms of Jubilee processing GLR's ROM spoil, we can only guess at the prices, I mean what happens if Jubilee gets 90% of the costs back for commissioning the Zinc and Vanadium lines and costs for the designing and commissioning the Germanium and Silver lines and GLR only get 10% until that is paid off and then goes to a more favourable split of 50/50.

It will eventually be transformational from GLR as it will become a material business at that point, but there are lots of things that can get in the way until that point and no I am not talking it down at all, as I think it will definitely multi bag at some point, but at what point that occurs, is anyone's best guess.

Tradedesk,

You state 10 million a year each, but you haven't included transport costs, that will have to be to taken in to account, also it looks like that you are proposing a 100% recovery rate AND are proposing that there will be no discount in the price that we get for the Zinc, as there is no guarantee that we will be able to sell the Zinc at 2,500 dollars a ton.

Granted CB does state that for every 2 tons transported from Kashutu to Sable is the same costs as one ton from Star to Sable, it makes sense to prioritise Kashutu. Also CB does state that with the Germanium/Silver and Vanadium credits the Zinc should be free, but whilst Jubilee has a proposed Vanadium circuit, there is nothing out thereti suggest that we are developing Germanium and Silver circuits, but if we could that would be great and again cuts costs for Sable.

Total Trader,

CB has stated that it is a simple operation, but he will still need funding for that and because of that, there is no guarantee that GLR will be able to mine in that timescale as there is currently no mining licence for them.

Until those two minor issues are known, the money generated won't be fully known, also, I believe that, Jubilee have forsaken the leech acid stuff for the zinc as the acid was too costly and are using something else. Also CB in the investor presentation, mentioned that acid leech, doesn't work too well for Willemite and that firstly they used pressure, then a combination of heat and a drop in pressure, but that Jubilee had got the grades of 9-11% zinc due to the fact that the previous owners had processed it as though it was a sulphide, when it is a silicate based effort. It remains to be seen what process Jubilee will use and it is doubtful that we will ever fully know what process they will use, but it they can process it at the same costs at CB states in that investor presentation, we will be doing really well, especially if we become a multiple metal refinery as LC has said that Sable will be, the only real unknown at the moment is recovery ratez post processing.

Many thanks mate, it is much appreciated.

MoneyHawk,

Thanks for the vote of confidence. I, now, personally believe that Minor Miner is a ramper of shares, with Langtro having shown two examples of it on here from other companies and it fits as why be so aggressive and argumentative on something that is an opinion piece, unless ypu have a different agenda.

Being honest, I haven't seen that CB investor presentation at all and if you could send me a link, I would be very interested in seeing it but I still think that a small loan is preferable as a means of getting both companies to production rather than dilution. In my opinion, it is in fact more so now, as CB has shown his hand and why would financial companies buy stock now, when the possibility of a cheap placing is out there sometime in the future and no I am not deramping her Minor Miner, I am generalising across the full financial industry here, as if you show your cards that early, you are hoping for a spectacular rise to allow dilution to be at a minimum but if that spectacular rise does not come, which by showing his hand so early invariably means it won't, they will have to dilute massively or explore other forms of money raising.

Also like I said, they are thoughts more than facts, but it does make sense whether in the short term or in the mid/longer term as we WILL have capacity to process the copper produced by Eureka, I guess it just depends on when CB wants production to occur there, but I see your point that GLR is probably closer at the moment, but again, alot will rely on financing to get all the necessary equipment and unless they sign a toll processing agreement for the concentation of the ROM ore, they will need one of those to minimise both transportation and refining costs. A case of spend money to save money and concentrators aren't cheap, even second hand.

Personally, I am worried that CB will try to use his connections to get a better deal from Jubilee, but if as stated CB said that LC holds the purse strings and is tights and guards the money well, then hopefully we will get the better end of any deal, which as the bigger company and with the required funding in place and other producing assets, we definitely should get the better deal.

Also I would just like to point out that the trade log, is not one of these that you yourself called for and as such is actual opinion.

RE: XTR thoughts11 Aug 2019 23:09
Just ramblings pal, entirely ungrounded in any released company information - of GLR, JLP or XTR.
Go back and start again, thereby doing us all a favour.

Ha ha ha ha ha ha ha ha ha ha ha

I would also like to point out that you haven't denounced your opinion on the figures for revenue you state, but shout that I am unethical in your genuine perception. Ha ha ha ha ha ha ha ha

Minor Miner,

Please show me where those facts are, that show they went to sticky hands?

Also from the trade log on here, because that is NEVER wrong is it? Ha ha ha ha ha ha ha ha

If you want factual, here you go.

Colin Bird, Chairman of Galileo Resources, said, "Following the positive drill results and significant conceptual grade tonnage estimate for Star Zinc, announced on 14 November 2018, the Company has completed a placing to enable it to do all things necessary, as outlined above, to advance and add further value to what is undoubtedly a significant Project with potential for early production. The directors believe that the potential ore at Star Zinc lends itself to a simple trucking operation for parties looking to enhance their feedstock with high grade zinc ore and early- stage discussions have started with potential off-take partners."

Yes, I will take this direct from this RNS statement.

The Company has completed a placing to enable it to do all things necessary, as outlined above, to advance and add further value to what is undoubtedly a significant Project with potential for early production.

So that is a bit vague, but it says to me that you will need EXTRA funds to get to early production, hence why I put about a loan to get it to production.

Surely this is more unethical, as you are clearly trying to state that opinion as fact here.

Very solid day06 Aug 2019 10:36
7 trades, all buys, and nearly another 1% of Galileo has vanished from the free float and into sticky hands.

Surely for GLR to be producing annual profit of 10+ million pounds, you mean it be a year from actual production, unless you are going to generate 10 millions pound in one quarter, but again that is an opinion of yours, NOT fact and has no details or actual facts in it