Member Info for Prospector99

Rampers/traders move in, rampers/traders move out. Easy money in the absence of real news.

Noto's concern is timely, given Bird's latest fiasco of an RNS - basically, catastrophic timeline failures and over-promising - on GLR. Loyal shareholders are concerned about mendacity. Tread carefully here, and treat Bird's blatherings with a pinch of salt.

It has been "planned to prepare an application for a small-scale mining permit" for Star for at least two years now. Regrettably, my worst fears (expressed earlier) are being confirmed. Is Bird actually competent, or is he the Sleepy Joe Biden of the mining industry.?

The mountains laboured, and brought forth ... a mouse.

Jubilee Metals (JLP) “is pleased… the company has received notification from the Minister of Mines and Mineral Development in Zambia of the approval of the company's application for the renewal of Small Scale Mining Licence 7081-HQ-SML in Kabwe ..."

This may be a sign that GLR's licence for Star is not far behind.

You can't spend potential. Real momentum won't happen until monetisation of assets occurs. Until then, there will be flurries of ups as announcements appear, followed by downs as the excitement recedes and boredom sets in. Sharp traders can thrive in these environments, investors - especially the inexperienced or gullible - often get hurt. Right now, the expectation is of Bird delivering something real in the next month or two. Investors hope he's up to the job.

Also agree. I'm hoping that the government negotiations are going well and that the silence denotes progress rather than the reverse.

Agreed, MM. Your scenario nicely describes why I'm still a firm holder. But before I make any top-ups, I'll expect some money in to GLR that *doesn't* involve dilutive share issues.

I think it's very important that he does keep to his timeline. Expectations are extremely high. Large-scale copper/gold projects are all very well, but to stand a chance of monetising them means getting Star running and disposing of Glenover.

$10m earnings pa, only if we get a licence. Still waiting.

Thanks MM, understood now. I wish there was some movement on the small-scale licence for Star. This has moved from being a technicality over a year ago to something involving delicate negotiations today. Without the cashflow Star was confidently meant to produce, we're back into more elaborate jam tomorrow scenarios. The other hope - Glenover - also seems to have receded with the Definitive Supply Agreement of months ago having been abandoned. I'm hoping for a concrete announcement in the next month or so as a pattern of promise-let down-promise-let down ad infinitum will see a justifiable exit from this share.

Don't understand the reference to GLR wanting a large-scale licence. I though CB wanted to abandon the large-scale licence he has to replace with a small-scale licence - or is that purely for Star itself? I'm sensitive to this as the Star licence is pivotal in achieving rapid cashflow and the avoidance of yet more placings/dilution.

Oiltap, many thanks for the update - very useful. But can't help feeling that it so much of it is couched in terms of 'probably' and 'possibly'. And the need for sensitivity towards Government ministers in probably the most corrupt continent on earth is not reassuring.
My chief concern is that activities that were presented as virtually effortless are still not being delivered. So I find myself wondering whether CB is merely over-exuberant in his marketing or simply an out-and-out fantasist.
(Don't get me wrong - I have a substantial holding here and nothing would be better than to be proved wrong. I recovered my initial stake when the price hit the Concordia lunacy of 10p and have had a free ride since, with some top-ups along the way. )

Monetising Star Zinc is dependent on getting a small-scale mining licence. CB confidently spoken about this as a 'formality' well over a year ago but now mysteriously seems to be hardly ever mentioned. Similarly, Glenover was supposedly virtually under offer two years ago, but somehow months pass and still no deal. I remember Concordia being the "coup of CB's career", then a ghostly silence, then the news that it had been abandoned - with the exciting new prospect of Star. Now the emphasis on Star has shifted to a veritable eldorado in Kalahari copper. It seems the closer Galileo gets to a project actually coming good, the further it mysteriously recedes. I begin to wonder if Star and Glenover (oh, and Kash*tu - remember that?) have the making of becoming Concordia Mk 2, 3 and 4. And after the failure of Kalahari copper, what next - gold in the Yukon?

Likewise. Or rather, a little more at 0.62p.

Thanks. I've actually been in GLR since May 2016 - when these were 1.25p. Sold a bunch when they hit 10p, then bought back in over several tranches as they slid back. I can't see them going much lower now - but after Concordia, you never know with this lot!

Just topped up and my purchase is showing as a sell. It may be that other supposed sells - especially that chunky 1.5 million - are actually buys. At the price I paid, now seems like a nice buying opportunity.

Now down to 1p bid in real time. Can sub-1p be far behind?

Likewise Glenover phosphates - another dud? We were supposed to hear something June/July.

Instead we hear:

"... is subject amongst other things to the grant of a mining right, certain metallurgical process considerations and agreed pilot plant study being satisfied. The study is on hold, while the producer investigates logistical options for the transport of phosphate rock from Glenover to its process facility."

So "the study is on hold" waiting for the producer. No mention of any deadlines, or what counts as a successful outcome.

Concordia syndrome anyone?

Yes, but the anonymous MPP are supposed to be doing all the work (and I assume funding) the offtake.

Surely, it doesn't take much time for CB to put out a release that says something like, "Glenover is taking a little longer than expected and we've extended the deadline. But rest assured it's a proven resource and our plans are unchanged" or somesuch. We'd complain of course, but at least there wouldn't be this degree of extreme uncertainty.

Does anyone know if CB has ever achieved anything other than the First Quantum deal? If not, given his number of directorships, it's a pretty shabby hit rate - more luck than judgement.