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Galileo Resourc Share Discussion Threads
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|Kiwara plc was sold for $280 million we have a market cap of of 100th of that 2nd September 2009Kiwara plc("Kiwara" or the "Company")Independent Ore Resource Statement Report raises Kalumbila Copper Resource to contain a potential 1.45 Billion tonnes at 0.76% total Copper The board of Kiwara plc is pleased to announce that it has received the signed Resource Estimation Report for Kalumbila from Snowden, the international Mining Consultancy. Highlights:Kalumbila Inferred Mineral Resource revised by Snowden from 1.38 Billion to 1.45 Billion tonnes - an increase of 5%Grade revised from 0.78% to 0.76% (Copper) Cu at 0.3% cut-off - a decrease of 2.5%Grade /tonnage table shows very robust model - copper grade increases to above 1% Cu with 830 million tonnes at cut-off of 0.5%CuGross resource of 3.76 Billion tonnes at 0.37% Cu without cut-offAggressive infill together with strike and dip extension drilling programme implementedColin Bird (Chairman) said "We are delighted with this revised resource estimation. The revision shows increased tonnage, without an adverse effect on grade. Of significance is the strong indication of continuity. We are particularly impressed with the gross tonnage and grade suggesting a major copper resource. Concordia We are about to drill this beast and I for one won't be out of this now!!!Recent RNS on Concordia drill Colin Bird, CEO?? commented:"These results are very pleasing, especially since only about 15%? of the ?concession has been tested with IP geophysics. Of particular note is that the initial modelling of historical data pointed to potential new targets, the results for which have exceed our expectations: the high incidence of geophysical anomalies are of significant size with strong suggestion of the presence of sulphides. The geophysics shows the potential for near surface bodies and an increase in chargeability at deeper levels. This is particularly encouraging for Galileo, as most emerging copper producers are confined to either mining limited tonnage of high grade or bulk tonnage of low grade: Our results suggest we could be targeting a mix of the two and it is always beneficial to have a high-grade component in any bulk mining operation. The initial drill programme will be designed to establish a correlation of the geophysics with sulphides and attach potential copper grades to chargeability levels. I look forward to our drill test programme with the hope that we will advance to resource definition."?South African based Geospec Instruments - Geophysics Consultant commented:? IP anomalism was detected on all the grids surveyed over the Homeep and Shirley Trends. Good correlation of chargeability with known sulphide intersections and/or historical drilling targets, as well as the presence of significant untested chargeability anomalies, indicate a region that is very prospective for potential copper mineralisation.|
|I can feel a storm brewing the sea is calm. But I can see a tidal wave coming from the distance!!!|
|both pour moi|
|Yeah deme I hope you are right I wasnt patient enough for GLR and sold my holding and very happy with JLP So I will join the ramp JLP for me too!!!!!!!!|
|JLP for me|
|Galileo Resources PLC said Tuesday it expects drill testing to begin at its main copper project early in 2017
so starting to drill in Feb 2017 add six months for acutal drilling and studies
then you may get an ROI in 2018
JLP FOR ME|
|Chairman's statement In the opening remarks of last year's Chairman's report I commented on the value erosion of all companies in the natural resource sector, whether the companies were big or small. I am pleased to say that financing activity improved significantly during this review period but at the time of writing has slowed yet again. I am however very pleased to report that the copper price has responded to the long term prognosis that copper will be in short supply as we approach 2020. This will impact on our key project, Concordia. The highlights above are detailed in announcements during the period under review and post period all of which show significant progress within the group activities. The sale of the Gabbs property resulted in the Company being able to progress its Concordia project at a rapid pace without suffering the severe dilution that might have occurred had the Company been required to make a significant placing. There remains sufficient funds to advance the Company's mid-term business plan without recourse to further placings. Our geophysics work has produced very good results, which would be very satisfactory in a Greenfield situation. In the case of Concordia, where the geophysics signature is tested against previous mining history then the results can only be described as exciting. The summary report on this work will be presented in early January and then we will move on to the necessary drill programme, in order to confirm the veracity of the data against historical mining. Of particular importance will be to tie the geophysics to an approximate grade profile. The drill testing is expected to commence by mid February 2017. The Ferber project sits well in a Nevada renaissance, which extends throughout Nevada but specifically in the Ferber area. We are well placed in a trend which is described in terms of an additional Carlin-type trend system. Whilst our focus is on Concordia, we will progress Ferber during the coming year to add understanding and value. The Glenover Phosphate project in North West South Africa continues to be of interest to the trade. We announced, on 30 August 2016, that the exclusive option to Fer-Min-Ore had expired on the 28 August 2016 and the shareholders would work together towards a mutual and beneficial business plan. This activity continues and we are confident of a favourable outcome during the early 2017. The Group's loss for the six months, before and after taxation and before taking items of other comprehensive income into account, was £538,075 (2015: loss of £170,971). The Group's loss per ordinary share was 0.3 pence (2015: loss of 0.1 pence). I look forward to the Company advancing its projects and prospects with the underlying criterion of shareholder return being our key focus.|
|GLR for me|
|GLR for me|
|double top at 1.8p
back down to test 1.4p (even 1.2p)
JLP for me|
I see you're posting negatives on the JLP bb?
You spent the best part of last year raving about Jubilee Platinum!?!
What's changed your mind?
Listen to today's webcast, it might just tempt you to stem your losses here and move back to JLP!|
|More projects and more dilution. Not for me thanks, I will sit tight and let Colin flog this company and he will!!|
|JLP is massive
JLP for me|
|Concordia is massive!!!We are delighted that the results obtained coincide with the known copper occurrences in the area and potentially enlarge the area for future copper targets, noting particularly that this has been achieved with the geologic and geophysic teams having little or no information on the underlying geology. The next phase of the geophysics programme will focus on two highly prospective blocks on the second priority Shirley Trend. The areas covered and planned represent less than 10% of the Concordia concession."|
|jlp for me|
|Copper up again!!|
|Timing couldn't be better here!!!!!|
|While the gold price has given up much of its initial surge following Donald Trump's victory in the US presidential elections, staying stuck below $1,300 early on Thursday, the rally in industrial metals were only gaining momentum.
In pre-regular hours trade on Thursday copper for delivery in December jumped more than 10 cents from Wednesday trading as high as $2.5910 per pound ($5,712 a tonne) in New York.
That's up more than 12% since the eve of the election and the highest since early July last year. Copper has risen during 13 of the last 14 trading sessions, adding 23.8% in just over two weeks.
Measured from recent multi-year lows hit at the end of 2015 and in January and February this year the recovery in prices this year is even more impressive
The rally comes on the back of Trump's general support for the extractive industries and his pledge during his acceptance speech for fiscal spending geared towards rebuilding the country's infrastructure.
"We are going to fix our inner cities and rebuild our highways, bridges, tunnels, airports, schools, hospitals. We're going to rebuild our infrastructure — which will become, by the way, second to none. And we will put millions of our people to work as we rebuild it."
"I believe an infrastructure bill of $500 billion is now possible," David Kotok, chairman and chief investment officer at Cumberland Advisors told NPR adding that "the introduction of it comes in early 2017, after the new regime takes office."
Canada's Prime Minister Justin Trudeau announced a $125 billion infrastructure program shortly after taking office last year, while China is in the midst of a three-year $720 billion transport build-out program and the Asian country already spends more on infrastructure than Europe and the US combined.
Base metals have already enjoyed a breakout 2016 with across the board gains year-to-date and optimism about a Trump administration's impact on the sector has re-ignited prices.|
|Waterloo I agree that it's a bit ropey, but the market cap here is far too low for its prospects - especially with the copper price finally breaking free. If it was at 5p I would say it was over valued at this stage, but 1.5p is too low.Just my view, NAI|
|Have to say I'd have considered a punt here but I've had such bad experience with mining companies that have anything to do with SA that I've got blanket ban on investing in SA.|
|Copper gains at the quickest pace in 28 years. And it's a 1 year high, this could be perfect timing for Concordia!!|
|Copper breaking out now, very encouraging...|