Member Info for Kalan

Silicates not sulphates - fundamental error. Lol.

The contractual obligation (if it exists) cannot force JLP to take whatever stuff GLR sends without negotiation - the obligation will be to negotiate - the risk is that Colin forces through a deal with himself/Leon to save GLR. The upside is that the deal could be mutually beneficial. If I were in Colin's position I would make that deal happen. In the meantime he will be having a placing to fund drilling at Kashito (spelling borrowed from GLR bb). He needs to prove the Zinc Sulphates are there albeit not to JORC standards as this will be a deal between the 'sister' companies that are 'not sister' companies as there is no connection'.

It's just the bid offer quote stuck at .53 to .54 that is making them all look like sells Shangrila. The market makers can't be bothered with games here on next to no volume.
Anything below .5349p will be registered as a sell by the computers. Unfortunately buys are below that level as well as sells.
If they narrowed the spread to .53 to .535 then you would get a clearer picture of buys and sells. Also there is a case for widening the spread to .48 to .54 as buys and sells have occurred in this range but that would make all transactions above .51 appear as buys - you would have a sea of blue. So they have just parked it and will take interest in manipulating it if the volume picks up.
Good look with your speculative buy - it could double or halve in no time.

Agreed sumoskier and moneyhawk. Colin has most to benefit - he runs both companies (strategy wise).
The timescale will be on a bungee rope.
As for negotiations - 'what do you think Colin', 'well funny you should ask that Colin' etc.
A deal is vital for GLR and would seem beneficial for JLP.
Firstly they need to get the Sable plant sorted and secondly they need to drill Kashtu. Leon will be well aware of the possibilities and well aware that Colin will be forcing this a little too strongly since he has a large foot in both camps.
We will only know half the truth when Leon speaks on the matter - in the meantime it is more jam for tomorrow for JLP and a continuing cash flow problem for GLR.
Now for some jam today - this very day would be nice.

Bought some at 2.93p last week and just been tempted in at 2.90p. Looking at some more this afternoon possibly.
Indicators firming up and news due tomorrow.

A perfect summary Rosewall - if the projects are hopeless then JLP will carry on as planned. If the projects stack up then both companies profit from it - so just added more JLP as on the balance of probabilities they win 2-1.

Good luck Jaf.
A profit is a profit - most on AIM lose money so you have done well in WRES. I am up here too on my purchases and sells over the past couple of years but am just waiting for the sp to bottom and then will add - despite MM I think there are more profits to be made here when the anger dies down and time passes - no rush to buy - the sp is going nowhere short term.
Remember if a Chairman has his mouth open and words are coming out he is spinning a story or downright lying - always.

Hi Troajan - read through both of your posts thanks - they are further on than I gleaned from Colin's presentation.
Not sure what is happening at Kashtu (invented spelling) but that looks like the closest area to JLPs plant. Both Kashtu and Star Zinc look to offer the possibility of extending the lifetime of Sable Zinc plant if Leon can make it all work. Colin seems to be buying stuff and then expecting Leon to work miracles with it - that didn't work out at DCM in the first instance.
I have two nagging questions as regards Kashtu and Star Zinc - they need to raise more money to get the JORCs over the line and set up to mine the stuff (albeit low cost) plus get licenses and an agreed offtake contract with JLP (there is an obligation on JLP to seek to do this apparently) which add time and require money.
The second concern is that Glencore had the Sable Zinc Plant with Kashtu and Kabwe on the doorstep and Star Zinc down the road and they just sold it to Colin with his JLP hat on - why?
p.s. it appears from the video that Colin got Kabwe and then they realised that they couldn't make the figures work and Sable Zinc being on the doorstep was a fortuitous solution - which may also now be fortuitous for Galileo as Colin also says it wouldn't work there either without the sable plant. All a bit wing and a prayer but everyone (especially Colin) may just have got lucky all round.

Oh just thought of a 3rd question - the market cap of Galileo is £2million - why don't JLP just buy it up with a month's profit - it's not to keep Colin in an extra salary is it? If Leon decides that the whole shooting match works then he should snap up GLR - in which case GLR shares are a speculative buy but it could also be diluted to smitherines. Not one for widows and orphans - one for the brave /silly.

I watched the presentation yesterday Hairydavy - it is one of the most cringingly bad presentations I have ever seen. My wife laughed all the way through it.
Having said that I am not dismissing GLR or the possible future benefits for JLP - I will look at more information (thanks Troajan for the links - will check them out) - Colin's incoherent ramblings do not fill a potential new investor with confidence (see my two posts below), however they will make more sense to the already committed who can actually work out what he is trying to say.
As for the price monitoring extension it looks like the chaps who do the rns took an ealry dart for the long weekend and they are just tidying up this morning. sp very very close to the bottom according to the charts and indicators - buy at 2.8p is the ambition but may not get quite that low today.

I would be astonished if the sp didn't go to .42p - it could go lower but I doubt by much.

The weeble said last week that the quarterlies are to be released on Wednesday according to a trusted poster on ADVFN.
Can't see feed from Galileo for quite a while as they are undertaking a drilling programme with the next placing according to Colin. Only the top couple of metres have been augered according to him.

watched it all - 'our sister company Jubilee' - later on 'we can't call them a sister company because they have no connection'.
it's either, willamite, somethingite or dolomite and with a bit of practice you can tell the difference between the TWO.'

'It's so heavy anyone could recognse it' (or is it them?)
'We are not allowed to talk figures' and in the next sentence gives us the figures.
'THEY' are contractually obliged to process our stuff' - who are they? JLP I think but he isn't clear.
They have a phosphate deposit to sell, Newmont have been talked to about a gold/copper deposit JV, they have Star Zinc and the area closer to Kabwe which they are going to aggresively progress'.
he isn't interested in another offer which sort of might have been made he wants to develop it himself / themselves (Galileo) - neither he nor they have the money - he says so. They have only paid half of the £100,000 cash for the Zinc silicate project and not issued the millions of shares in Galileo which were part of the agreement - he needs money to drill the site and says a placement will be needed.
The dilution is going to be pretty bad - shares for the site purchase, shares for the drilling, shares for the company overheads, shares for the transportation and excavation equipment - then there will be warrants attached to draw in investors - we have seen this all run out at JLP - not going through all that again.

Wait until the first truck is loaded up and ready to send to JLP's plant (about 6 to 8 years I would guess if they can get the cash) before touching galileo. On the other hand - JLP can just carry on with Kabwe and do a nice little takeover when the JORC is done or sell the plant to Galileo when we have finished with it.

Galileo is good for JLP one way or the other - but Galileo is on a whim and a prayer IMO.
Caveate - you could make a nice profit from a pump and dump or two over the coming years.

From the mouth of the maestro - paraphrasing - 'people talk about a mission with projects well I think these prjects can be planned retrospective - i.e. muddle along and wait for the plan/opportunity to fall out of the situation.'
'The Galileo projects are some that I have picked up along the way in an oportunistic way - I have made a career out of this'.
'Some of my projects have been a success and others have not - pot luck really'.

Thank goodness we have Leon - putting Colin's opportunistic assets into a feasible position and now delivering on those oportunities with JLP. Logic and sequencing has emerged from a scatter gun aproach and grabbing at oportunities - I have faith in LEON delivering and faith in Colin to be a survivor.

Hi Jaf - last week the shares were selling for .56p and you strongly suspected there was a cash flow problem and didn't trust Masterman.
One week on - we know there was/is a cash flow problem - the warrants will fix it as long as there are no more delays (is the way I read it) otherwise they may just as well have gone for a placing to cover all eventualities - the effect on the sp would have been the same. I digress - the shares are 20% ish cheaper and the threat of cash flow problems has diminished. Buying in now makes more sense than paying .56p last week.
One caveat - the sp hasn't touched the warrant price yet (and may go below it) - many people are feeling as you are and will sell up as things stagnate here - two weeks is a long time to our younger 'investors' and two months is like forever. So wait and time your buys. Hold onto your shares for now or sell and hope to buy lower? the choice is yours.
Good luck with whatever you decide but most of the damage has been done to holders - the smart money has already bought the dip between .44p and .45p. I think a revisit is in order, however Mr M may just release good news now since he is out of the woods again - everyone should now know he isn't trustworthy. Not selling - buying if it falls back to near .42p - follow the charts.

100% right old skool - couldn't justify buying at .46p or .47p today - if warrant holders get .42p then I want something similar - this staved off a placing but any further delays and there may still be a placing. Watch your backs.
Holding what I have but not investing more until it gets cheaper than it is now by at least 10%. A long time to production and enough income to meet all payments. .44p is the max I will pay and as usual Iwill be watching the charts closely for guidance.

K3VMC - so it would be illegal to sell in advance - thanks for that - how could mm possibly get around that - mmm let me think - oh I know - don't put out a 7 am rns to give everyone a fastest fingers first chance to ditch the stock - no put it out at 9.30 am - knowing that is going to happen and giving himself and his warrant holding buddies the chance to ditch them first as soon as the rns was released.

Added some today Wolfy - for better or worse - the indicators have improved. Looks like we are set to march on together to rags or riches.

Good work disco ablo - I was at work when it dropped to .44p / .45p and they quickly put it up to .46p+.
Agree with Tempted - just above .42p should be available when we let the dust settle - no rush to add IMO - will give it another look next week.
Back at break even again on current holding - the Masterman effect eh. Gives with one hand and takes away with the other. Hey ho - the sun is shining. Always look on ……..

Agree sumoskier - normally hold more than twice JLP compared to the other two - it always looks the safer bet to me. Just spreading risk amongst my potential multi baggers / failures.

Bought a few SAVP and also JLP at 2.93p - it's showing as a sell. Still think it could go to 2.8p for my next tranche but the report should land this afternoon or Tuesday so got some to balance the risks.