Galileo Resources Share Discussion Threads

[gkp heros] 30/3/2016 18:44

Billion dollars so far of copper in the groundShares in Galileo Resources PLC (LON:GLR) jumped by nearly 14% to 1.05p in early trade on 30th March, after the company said it had completed the first phase of an ongoing work programme on its new Concordia copper project in Northern Cape, South Africa.Galileo announced the completion of a deal to acquire a 51% interest in Concordia in January in return for a commitment to spend at least £500,000 working up the project.According to the terms of that deal, the spend has to take placeDescription: within 14 months of the January signing and Galileo has clearly wasted no time in cracking on, encouraged by the prospects of rich pickings in what has long been recognised as a prolific copper producing region.Accordingly, the company has identified two specific prospects on Concordia as initial targets – Koeelkop and Wheal Julia – and set independent consultant Minxcon to work on them.Minxcon has now remodelled the orebodies on both and reported back. Based on historicDescription: core log and assays from 64 holes on Koeellop and 40 holes on Wheal Julia, Galileo is now confident in saying that tonnes and grade are "significant" and "similar to large copper pits being mined globally."Minxcon estimates that Koeelkop contains 4.19 mln tonnes of ore grading 0.59% copper, while Wheal Julia contains 37.69 mln tonnes grading 0.55% copper, both at a 0.35% cut off grade.At a 0.2% cut off that rises to 10.92 mln tonnes for Koeelkop and 62.55 mln tonnes at Wheal Julia.Using the current spot price of around US$4,900, that equates to over a billion dollars' worth of metal in the ground, in which context it's no wonder Galileo's shares are on the move."Concordia has the potential to progress to a large mining prospect and current work has demonstrated the existence of many potential opportunities within the concession not previously recognised," said Galileo's chairman Colin Bird, a veteran of at least one big copper success in the past."We intend to fast track the modelling to an initial mine concept and thereafter direct our work to confirming and expanding the model."Meanwhile, work is continuing on other prospects within the Concordia concessions, and on generating a more detailed understanding of the mineralisation patterns across the whole property.

[gkp heros] 30/3/2016 18:43

Galileo Resources, the exploration and development mining company, announced yesterday the results of an initial, independent, non-compliant ore-body modelling study on its Concordia Concession in the Northern Cape of South Africa. The Concordia project covers a 19km2 area within the historically prolific Okiep Copper District. Galileo recently concluded (14 January 2016) the Co-operation and Joint Venture agreement with Shirley Hays and Shirley Hays, ipk (Pty) to earn-in and acquire an 80% interest in the Concordia Copper project. The Koeelkop and Wheal Julia prospects, located within the Concordia concessions, were remodelled by Minxcon Consulting, an independent mining and geological consulting firm. Ore-body estimates for the Koeelkop prospect returned 4.19Mt grading 0.59% Cu and 37.69Mt grading 0.55% Cu for the Wheal Julia prospect, based on a 0.35% Cu cut-off for both prospects. These non-compliant estimates confirm Galileo's in-house modelling results. Modelling and optimisations studies will continue on other prospect within the Concession and on identifying key mineralised trends and structures.Our view:While results of the modelling of the Koeelkop and Wheal Julia ore bodies are considered non-compliant, they do confirm Cu mineralisation within the Concordia concession. The results will also help Galileo identify key mineralised structures and trends through the area, we are encouraged with the initial results and the potential for additional deposits within the well-known Okiep mining district. Galileo now plans to fast track the modelling to an initial mine concept and thereafter expand the mineralised zones. In the meantime, we maintain our speculative buy on the stock.Beaufort Securities acts as corporate broker to Galileo Resources plc

[fission453] 30/3/2016 10:13

GKP sorry but you can pump and dump!!!

[mick113] 30/3/2016 09:01

I agree, like the sounds of a "super pit" resource and mine!

[gkp heros] 30/3/2016 08:27

This is very cheap

[gkp heros] 30/3/2016 08:26

GLR 2 million market capHaving done a bit more researchAll copper is near surface, considered super pit74% is the max a foreign company can get up to within SA with some additional checks/workColin Bird has no interest in taking this into production and is looking to sell the assetColin Bird expects Concordia to be on the radar of major mining companies within the year (stated in an interview with proactive investors on 17 Dec 2015)Colin Bird has done this previously with the sale of Kiwara to First Quantum in 2009 which was mainly copper resource. My workings below are conservative a larger mining company would be able I am sure to extract a a lower cost and expectation is copper price will rise over the duration of the mines life. I would say the sale of the asset value I posted previously below is conservative and a bottom line figure Link below gives some extraction costs for some mines, highest cost being $1.80/lb in Poland and lowest being $0.90/lb in Chile. Funnily enough the mine in Chile has 0.51 grade http://www.mining.com/wp-content/uploads/2015/11/Top-ten-copper-mine-table-full-size.jpgMy figures were bases on Koeelkop and Wheal Julia only where as in the RNS today it clearly states the below so there is room for further potential.Modelling and optimisation continues on other prospects within the Concession and on identifying key trends and structures driving the mineralisation.All IMHO and DYOR

[mick113] 29/3/2016 22:37

“We believe Concordia has extremely good prospects for potentially delineating a world class 'super-pit' copper resource and mine. The world demand for copper is forecast to rise with short falls projected from 2025 and onwards. This is a large project in a mature mining jurisdiction," he added.

[gkp heros] 11/2/2016 09:54

Gloop but GLR is a little goldmine waiting to explode

[augustusgloop] 11/2/2016 08:53

GKP

this is another Colin Bird AIM share.

None of them ever do anything that they promised.

In total his companies have lost nearly £100 million in the last decade.

They never make a profit.

[gkp heros] 10/2/2016 14:50

LOL freedom

[freedom97] 10/2/2016 14:17

GKP Heros - did you see this post, you don't want to be out of JLP!

Bobsworth 5 Feb'16 - 23:14 - 3270 of 3404 13 0

JLP 2016 Business Plan

• ASA processing plant currently built and being commissioned – all on track!
• ASA Tailing production to start producing Chrome concentrate & PGM’s imminently.
• Driven to achieve strict time lines to secure premiums of 25% on the price of chrome.
• Aim to produce 8,000 ozs of Platinum a year from ASA.
• Hernic processing plant to be built next & commissioned as early as this Oct.
• JLP own the right to process the Hernic tailings.
• Hernic production to start in NOV producing 34,000 ozs of Platinum a year.
• In addition Hernic will produce 10,000 tons of chrome concentrate per year.
• Have no debt & sufficient funding to build both processing plants.
• Also have approved terms for funding + they have lots of other options on finance.
• Just taking their time to ensure they get best value for money.
• Their aim it to have a balanced business plan where execution risk is minimal.
• They will achieve this by transferring the risk to their suppliers.
• Being very automated JLP will enjoy the lowest processing costs in the platinum Industry.
• JLP has very small overheads & at current platinum price, margins will be healthy 30%.
• Starting to see sale of PGM assets coming to market from stressed mining companies.
• With funds & income, aim to acquire a 3rd and possibly 4th surface tailing site this yr.
• Currently they are answering questions from stressed mining companies.
• Aim is to acquire tailing sites transportable to their 2 processors to maximise margins.
• Tailing projects are valued on current surface material.
• Once production start JLP expect the beginning of a market revaluation.
• Within 18 months aim is to have 100+ million market cap via more surface tailing sites.
• Confident Tjate mining rights will be granted – i.e. the world’s biggest platinum asset.
• With 69% of the rights JLP will seek partners to develop the Tjate mines.
• They already know which doors to knock on!
• Currently still engaging with the DMR and remain very confident.
• Tajate is JLP’s ACE card. A card they hope to play post planned tailing projects.
• But even with partners Tajate will take 6 years to get a mine into production.
• With Tajate they aim to become a Mid Cap company.
• Quote from Colin Bird: “We are going to build you a Mid Cap company”.
• On Conroast they will continue to hold the intellectuals once the patent expires in 20??.
• Going forward looking for a dedicated ConRoast smelting facility to service 3-4.
• Current weakening Rand improves their profitability.
• Energy Power has been secured upfront, therefore no risks envisaged.
• The granting of Tajate mining rights will accelerate talks with partners.
• Projects 3 & 4 will be funded off the cash flow of ASA & Hernic.
• JLP have entered 2016 feeling very optimistic.
• As JLP moves forward on market cap they will take no risks.
• Focused on doing the best for their shareholders by avoiding share dilution.
• Finally Australia – Nickel – is another massive asset but needs significant capital.
• Currently they are in Nickel talks but PGM/chrome tailing are their current top priority.

Also see webcast:

[gkp heros] 10/2/2016 11:32

GLRAny day now results from modelling Always DYORResource development company Galileo Resources (LON:GLR) has provisionally agreed to acquire a majority stake in the Concordia copper project in South Africa.Galileo is to earn-in 51% of the project in the north Cape Province by spending 10mln rand, which is roughly £470,000.It will have the option of acquiring a further 29% interest in Concordia by issuing 30mln Galileo shares following completion of the earn-in.The Concordia project covers a very large copper mineralised area in a copper mining district that historically has been prolific but which has not yet been completely studied for its open pit potential.Five potential mineralised pit zones have been identified within a 10 square kilometre radius on the Concordia project area covering 36 372 hectares.Galileo considers the previous focus on steeply dipping veins (underground mining) is not now appropriate, and preliminary modelling supports this prognosis, indicating major surface mining potential.There is a huge database available for initial examination with 123,000 metres of drilling results to study."This opportunity ticks every box of our search criteria and the acquisition could only have been achieved in the current environment," said Colin Bird, chief executive officer of Galileo."We believe Concordia has extremely good prospects for potentially delineating a world class 'super-pit' copper resource and mine. The world demand for copper is forecast to rise with short falls projected from 2025 and onwards. This is a large project in a mature mining jurisdiction," he added.

[freedom97] 10/2/2016 11:21

GKP Heros - did you see this post, you don't want to be out of JLP!

Bobsworth 5 Feb'16 - 23:14 - 3270 of 3404 13 0

JLP 2016 Business Plan

• ASA processing plant currently built and being commissioned – all on track!
• ASA Tailing production to start producing Chrome concentrate & PGM’s imminently.
• Driven to achieve strict time lines to secure premiums of 25% on the price of chrome.
• Aim to produce 8,000 ozs of Platinum a year from ASA.
• Hernic processing plant to be built next & commissioned as early as this Oct.
• JLP own the right to process the Hernic tailings.
• Hernic production to start in NOV producing 34,000 ozs of Platinum a year.
• In addition Hernic will produce 10,000 tons of chrome concentrate per year.
• Have no debt & sufficient funding to build both processing plants.
• Also have approved terms for funding + they have lots of other options on finance.
• Just taking their time to ensure they get best value for money.
• Their aim it to have a balanced business plan where execution risk is minimal.
• They will achieve this by transferring the risk to their suppliers.
• Being very automated JLP will enjoy the lowest processing costs in the platinum Industry.
• JLP has very small overheads & at current platinum price, margins will be healthy 30%.
• Starting to see sale of PGM assets coming to market from stressed mining companies.
• With funds & income, aim to acquire a 3rd and possibly 4th surface tailing site this yr.
• Currently they are answering questions from stressed mining companies.
• Aim is to acquire tailing sites transportable to their 2 processors to maximise margins.
• Tailing projects are valued on current surface material.
• Once production start JLP expect the beginning of a market revaluation.
• Within 18 months aim is to have 100+ million market cap via more surface tailing sites.
• Confident Tjate mining rights will be granted – i.e. the world’s biggest platinum asset.
• With 69% of the rights JLP will seek partners to develop the Tjate mines.
• They already know which doors to knock on!
• Currently still engaging with the DMR and remain very confident.
• Tajate is JLP’s ACE card. A card they hope to play post planned tailing projects.
• But even with partners Tajate will take 6 years to get a mine into production.
• With Tajate they aim to become a Mid Cap company.
• Quote from Colin Bird: “We are going to build you a Mid Cap company”.
• On Conroast they will continue to hold the intellectuals once the patent expires in 20??.
• Going forward looking for a dedicated ConRoast smelting facility to service 3-4.
• Current weakening Rand improves their profitability.
• Energy Power has been secured upfront, therefore no risks envisaged.
• The granting of Tajate mining rights will accelerate talks with partners.
• Projects 3 & 4 will be funded off the cash flow of ASA & Hernic.
• JLP have entered 2016 feeling very optimistic.
• As JLP moves forward on market cap they will take no risks.
• Focused on doing the best for their shareholders by avoiding share dilution.
• Finally Australia – Nickel – is another massive asset but needs significant capital.
• Currently they are in Nickel talks but PGM/chrome tailing are their current top priority.

Also see webcast:

[gkp heros] 02/1/2016 22:53

Happy new year and good luck : )

[gkp heros] 02/1/2016 22:52

I do all my own research but I wouldn't like to bet against this fantastic board turning this company into a takeover target. Remember Colin has a proven track record of finding asserts and selling them onto the likes of the majors. He's done it before and will do it again. Watch the video links I put up. He's been in this game for a long time, I'm a betting man and like a punt on the horses. Galileo was a champion Irish horse!!!!

[plasybryn] 29/12/2015 17:36

Very happy to be given the odd clue where I should look GKP.

[gkp heros] 29/12/2015 17:01

Valued comments, JLP could be a good investment. But my money is firmly in GLR. Sometimes you need to research beyond the RNS's it's amazing what you find out!!

[plasybryn] 29/12/2015 16:29

Can't see that GKP.
The first key value milestone is the BFS which is way into the future (at least 14 months but more like 2 years minimum imo.
Where is the cash coming from to undertake that.
They cost a lot of money & involve a lot of work.
Then there is the cash needed to buy the 51% stake in Concordia. 14 month window yes but as usual the cash will no doubt come from PLacings (Capital dilutions).
Who else is going to back jam tomorrow in this market? Yes once there is a BFS in place things might be different.
This just seems like another shell built on a vague promise where shareholders will keep providing the cash to stand still.
To build the mine would take c. US$1 billion and need a major mining Co. Until the Resource is proven no one will give it a second look. There are plenty of producers which represents good value in this market if they want to acquire without the risks.
Sorry but you did ask.
Please explain how I have misunderstood.
At least with JLP they are very close to producing cash. Cash is king right now as we all know. I can't therefore see how Colin says this is a better investment.
That just doesn't make sense.
I am worried that these other spurious interest conflict or detract from the JLP focus however.
Please accept these are just my opinions and everyone must come to their own conclusions. Mine might be well wide of the mark.

[gkp heros] 29/12/2015 16:10

Do some research I think you will be a holder. once you have researched this company. This is going to be one of the biggest aim movers in 2016. But as ever DYOR and good luck

[gkp heros] 29/12/2015 14:58

Do you have a holding here?

[gkp heros] 29/12/2015 11:59

XTR Tiger finance

[plasybryn] 29/12/2015 11:43

What are Colin's companies?
1. JLP
2. GLR
3. ORO
4????

[gkp heros] 27/12/2015 21:43

And another videohttp://www.shareprophets.com/views/17184/video-colin-bird-chairman-of-galileo-resources-presents-at-gold-bears-november-28-2015