Member Info for Mikiesunday

At the AGM, they said the half year production figures would likely be in the first week or two in Feb. Taking a little longer because of the winding up of SA.

Pleased to report we have today fully repaid our RMB Loan, which stood at US$10m at end-June 2025.

For further details on the proposed use of proceeds from the sale of the South African operations click here for the transaction circular: shorturl.at/jvhYT

Galileo have several overseas projects. Including the US. Project M could be just the start of something much more.

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Seems like, those who are short here, are losing control and don't like it!! Management are getting the upper hand- long may it continue. Haven’t been this happy since 2019! Dare i say?

Yes Dru, it appears even better.

Pretty simple really. Leon has confirmed Roan is operating at steady state, 280 tonnes per month. Roan is operating at 100-200 tonnes ( from high grade feed from M) whilst going through its ramp up. Maths look fairly straight forward.

Just need the centrifuge in place and all Roans stock pile and run material can go through Sable.

That is very possible. We know the likely suitor will have the ability to process the upgraded material. There is plenty of capacity at Mopani! Im guessing we will know shortly after they release the LWP resource definition. Which could drop at any time.

Its not just about production any more. We now have two main drivers of the share price. Production and size of resource assets. The Moleffe Jorc is likely to drop in summer, but there could be drilling updates any time. These and the LWP resource definition are likely to be short term drivers of the share price in my opinion.

Hi Seis, yes, but only in relation to the Mopani project. The plan was to use existing infrastructure at Mopani to process the cobalt and copper from the slag heap. But the overall project is in limbo at the moment as IRH are delaying. As you know Jubilee have the licence to process and IRH are the controlling owner. The government are very aware of the situation and putting pressure on IRH to agree commercial terms with Jubilee and let the processing begin. Jubilee were awarded the contract 4 months before IRH took over. We all know the history regarding the LWP! The price of cobalt, makes this very interesting, but the price of cobalt could flip on any change from the DRC.

I wonder if IRH would want to buy us out. But thats just my thoughts. Given the history, but they may need our expertise. Dont think the government will let this drag on for too long.

They stated, from their research of share holders so far- share buy backs was the most popular response.

No discussions on project G. But once Sable full, the attention returns to Roan to produce a high grade concentrate. So more refining will be needed there, but they are aiming to produce a super concentrate as high as 40-45%. This obviously will be much more valuable than the upgraded concentrate currently produced.

HD, Roan front end will come on line after rainy reason as well. It will not go off during next years rainy season. Leon confirmed this. They do not wish to commission now until rainy season over. They are saying rain is extremely heavy at present. So no problems with power. But under their power agreement, they can draw power from Mozambique and solar as well, so no issues with power.

They are not starting module build until drilling finished. They need to site in right position and not on top of copper seem. Dont want to be moving one.

Morning Seis,

Yes, for sure, i was quite taken back too. Double and triple checked. 2 modules and high grade feed would engulf Sable’s enhanced capacity of 14k tonnes. First module construction starts end current quarter beginning of next. Should go live Oct to Dec, depending on build speed. Build will be quicker than LWP as certain infrastructure already there. As the engineers complete part of the build, they will start on the second one, so about 3 months behind. I get the impression M is maybe bigger than we are giving credit. The maths are simple. Sable and Roan together at Christmas time will be equivalent to around 20kt per year ongoing. Just need the LWP to come on line soon after and magical target met.

No discussions around that Never.

I dont think relax is in his character Dorfan. He was chairman and FD yesterday. The day he joined everything changed. I think it is more a case shareholders can relax now he is on the job. But yes, i believe a little more patience and boom. The AGM was so organised yesterday. Voting numbers in his pocket, he knew the outcome before entering the room. Last few years have been a chaotic mess. I cannot speak highly enough of the JMK factor. We have a winner on the team. Gets what he wants! Can only benefit us!

Also Jonah, it is clearly a 2 man show ATM. Whilst the chairman was voted in again, his absence spoke volumes. Now SA is sold, i would guess we are more likely to be aligned to Zambia.

Morning Jonah.

The mood is undoubtedly good. There is clear chemistry forming between the two, that can only benefit shareholders. Completely different in character, but both seem to portray this underlying belief that were onto something big. There is no question, they both believe in the magnitude of what lies ahead of them.

Forgot to say, they are going to apply for the legal right to pay a dividend or do buybacks. This has to be approved in the courts. Court time for this is hard to get. Process is under way and expected to be heard around the summer holiday period. A buy back or dividend cannot be executed until the court approves. This doesnt mean a buyback or dividend is on the cards, but cannot be executed as we stand. Guessing the intent is becoming relevant.

BU, it was mentioned. Still awaiting to agree commercial terms with IRH. Problem lying with IRH. Government pressuring IRH to get going. We have the licence, IRH have majority share. In Limbo ATM.