Galileo Resources Share Discussion Threads

[turbotrader2] 12/9/2016 17:29

Big trades? Worked sells hence the drop of late?

[valentine] 09/9/2016 15:38

Be interested sure. 1p gkp.. sticking with Jlp but thanks all the same

[cyberbub] 09/9/2016 15:28

I believe we have some yttrium at Glenover? ;-)

[euclid5] 09/9/2016 15:22

swiped from the MKango board about Rare Earth

Aug 30 2016

this article weighs up the case for (and likelihood of) REE projects outside of China (over the next 20 years)

This Could Send Rare Earth Metals Prices Soaring


What oil was to the 20th century, rare earth metals are to the present digital age. The so-called rare earth metals have a total of 17 elements in the periodic table. These include the so-called lanthanides (atomic numbers 57 through 71) and two metals that share many of their characteristics: scandium and yttrium.
In theory, rare earth metals should be at the forefront of commodities investments. Metals such as dysprosium or neodymium, two of the most sought-after rare metals, are fundamental to the production of smartphones. Rare earths are also used in personal computers (PCs), electric motors, solar panels, and missile guidance systems. But production remains concentrated in China, which produces some 90% of the demand.

[nick rubens] 09/9/2016 15:18

Can't see much selling. Seems to be alot of buying. May be delayed trades/sells yet to be revealed?

Sometimes I just don't get this market. Good value shares go cheaper while other over valued shares go higher. lol

[cyberbub] 09/9/2016 13:48

Look at the dates - T+10 traders from the big rise would have to close today or Monday... most of them panicked out at a loss probably...I have just bought a few more FWIWNo advice intended of course

[cyberbub] 09/9/2016 12:58

T traders closing at a loss again I suspect!

[euclid5] 08/9/2016 21:52

wonder what the 3 MT on surface could be valued at presently:

"So we had got 3 million tons stockpiled on surface of what would have been phosphate for Gold Fields. The report referred to low grade, high grade, medium grade, but that had absolutely nothing to do with rare earths of course, it was the phosphate grade"

No mining required for 7 years

[gkp heros] 08/9/2016 14:07

Rome Was ant built in a week, good things come to those that wait!!!
Patience is the key here.

[turbotrader2] 08/9/2016 13:23

Blue later

[cyberbub] 08/9/2016 11:38

Surprised to see the drop here, perhaps it's T-10 traders closing out at a loss....

[gkp heros] 07/9/2016 23:07

This starts on Concordia in October, it looks like Colin has all this planned out. It's going to be a very interesting 2016. We got Concordia in November 17. It looks like things are starting to move very fast now. Even talk of mining licence, remember he sold his last copper asset for 280 million. From start to finish it took him 18 months. Let's see how long this takes!!!Induced polarization (IP) surveys are a valuable tool for base-metals and gold exploration. A junior exploration company can effectively narrow down drill targets on a vast exploration property with a well-planned IP Program, and an already operating miner can locate more metal deposits in the area by conducting an IP survey.IP surveys often pop-up in press releases, and while at first glance the average investor may glaze over at the sight of the phrase, it is important for the educated investor to understand the significance of this exploration technique. By narrowing down the search area, IP surveys can affect bottom lines by decreasing drill costs, compared to "blind drilling." Once an IP survey is released, it can provide an indication of the mineralization potential of an area, before the first drill rig breaks ground.IP surveys are used in exploration for minerals and can sometimes distinguish different types of mineralization. IP surveys can detect mineralization thousands of meters below the surface. Induced polarization was discovered during the early days of resistivity surveying. While geologists were conducting resistivity surveys for sub-surface mapping, it was discovered that certain bodies were polarizable; in other words, when an electric current was passed through them, and then shut-off, the charge did not disperse immediately but wore off over time. Upon more close examination it was determined that when certain bodies were charged, and the charge was turned off, there was at first a steep decline in charge and then a more gradual decrease. Conversely, if a charge was reapplied there was a rapid "recharge" and then a gradual charging period. This affect is called "induced polarization."The IP method was originally developed for field use in porphyry copper exploration and has now advanced to detection of other deposit styles with sulfide content. It is the only geophysical technique capable of directly detecting scattered primary sulfide mineralization. While all rocks provide a certain IP effect, it is slight, and often called "background noise." On the other hand, most metal sulfides and some clay minerals give a significant IP signature.In the field, induced polarization and resistivity are for the most part conducted as a single survey. An electrical current is sent through the ground and the surfaces of metallic minerals get charged. An overvoltage is applied to the ground, and then switched-off. Once the current is switched off, the over-voltage decays but the ground is left with a small storage of energy. This amount of stored energy gives clues into what minerals are laying below the surface. The induced polarization effect is useful particularly when detecting disseminated sulfide minerals, which can be economic in themselves or may also, be useful as pathfinders to other deposits of minerals. Areas that show an IP signature that suggests that there are minerals of interest below are a great drilling target. Now, exploration companies can drill where they have a better chance at contacting mineralization, rather than "blind drilling."The main drawback of IP surveying is that some sources of significant IP anomalies are not of economic importance. However, despite this disadvantage, the IP method is extensively used in base-metal exploration as it has a high success rate in locating low-grade ore deposits such as disseminated sulfides, and is in fact the most effective geophysical technique in discovering these deposits as they are non-conducting and therefore not detectable by electromagnetic exploration methods. Many of the world's world class copper deposits are low-grade, disseminated sulfide deposits.Some notable examples of successful IP survey targets include the Collahuasi District in Chile, copper porphyry, and the San Nicholas, a VMS deposit. In 1990 the Collahuasi joint-venture, which at that time consisted of: Falconbridge (now Xstrata), Chevron, and Shell, refocused its exploration efforts from exploring a small high-grade vein resource in the Rosario porphyry area to a more regional evaluation for primary and secondary Cu mineralization. The ensuing 200 km IP/resistivity program not only defined the Rosario/La Grande porphyry system (710 MT at 0.93% copper) in its entirety, but also led to the discovery of a totally new resource, the Ujina deposit (1200 MT at 0.8% copper, including 126 MT of secondary enrichment), under 170 meters of cover.

[cyberbub] 07/9/2016 21:21

The good thing about having a reasonable amount of cash for a junior miner is that it gives you options, and you aren't stuck in the terrible spiral of repeated equity issues at low share prices.Eventually we will need more cash, but hopefully it will be raised at much higher prices above 5p say.Seems to me that we should have a steady stream of SP-enhancing news in the coming months: Concordia drilling, USA corporate transactions, and the Glenover rabbit in the hat which may hop out and surprise us sooner than we think!NAI

[euclid5] 07/9/2016 21:20

Not sure what the NPV is currently as the $512m was based on the PEA completed in 2013 I recall reading

$512m = £394m x 34% wi= £134m net to GLR div 194m shs = 70p

Like this part:

So the biggest advantage of Galileo’s acquisition is the fact that we have got 3 million tons on surface which removes the mining risk. I am not really about mining the stockpile but we have got a 10 year advantage where we can process this stockpile, produce a rare earth oxide and sell it.

[cyberbub] 07/9/2016 21:16

Thanks for the info Euclid. I hadn't realised that Glenover was so close to the Botswana border. Not that it makes much difference, and Botswana is a politically stable and mining-friendly country anyway.With figures like that for Glenover, even bearing in mind the need for capex, it surely has to be worth substantially more than the current market cap on its own?NAI

[euclid5] 07/9/2016 20:56

This resource includes 3MT of ROM stockpiles on surface and ready for processing

NPV:$512M (8% discount rate) • IRR: 35% • Life of Mine: 24 years • Annual ROM feed:400,000TPA • CAPEX: $233M • Mining Method: Open Cast (first 7 years reclaiming stockpiles - no mining over this period)

• Advanced with paved roads to site
Rail infrastructure approved to within 20km of site
• Eskom power available on site
• Existing 2000TPM fertilizer plant
• Existing open cast mine infrastructure
• Offices
• 2000m3 undercover storage

[euclid5] 07/9/2016 20:49

"So we had got 3 million tons stockpiled on surface of what would have been phosphate for Gold Fields. The report referred to low grade, high grade, medium grade, but that had absolutely nothing to do with rare earths of course, it was the phosphate grade. My sampling revealed that there seemed to be a bias: low grade phosphate, high grade rare earths and high grade phosphate, low grade rare earths, which leads me to believe that the reason they were parking the material is that the phosphate level had dropped and they had mined it to process in better times.

So the biggest advantage of Galileo’s acquisition is the fact that we have got 3 million tons on surface which removes the mining risk. I am not really about mining the stockpile but we have got a 10 year advantage where we can process this stockpile, produce a rare earth oxide and sell it. So we don’t get into that very complex technology of rare earth separation because it is more complex than the world realises and not only is it complex it is big money as well. The key expertise appears to be in Japan and so we will be talking about producing a rare earth oxide for the next 10 years and exporting it.

[cyberbub] 07/9/2016 14:56

Yep, loss massively reduced.Nothing revolutionary in the results, the company is still making a small loss obviously as it is purely exploring at the minute, with no revenue.Of course the results look backwards. Investors look forwards :-)

[bean02] 07/9/2016 14:13

Good results!

[cyberbub] 07/9/2016 13:25

I can't see any obvious problems? Should be just a matter of process IMO

[regandharry5] 07/9/2016 08:57

The licence is the thing that will bring real value.Just hope there will be no problem with getting it.

[gkp heros] 07/9/2016 07:29

The prospecting right renewal has been executed and we are in good standing for a period, which will allow us to carry out well reasoned technical work and advance the project to its next stage of mining licence application."