Galileo Resources Share Discussion Threads

[the bull] 26/6/2019 14:54

$15M revenue against $2M cost

[sos100] 26/6/2019 14:51

all dependant on getting a small scale mining licence..


The Company is encouraged to fast track the Project development and to apply with minimum delay for a mining permit to include among other things, undertaking requisite economic and engineering studies for a shallow open-pit mining operation and finalising an off-take agreement for direct shipping ore.

[on target] 26/6/2019 14:44

3-6 months until mining starts according to the RNS - not long.

[excellance] 26/6/2019 14:43

At 0.50p you're paying the placing price so very little downside risk I would guess.

This will be a long term hold for me.

[excellance] 26/6/2019 14:37

Looking at the long term Zinc chart, I think it has bottomed and should rise from here, tho glr are a while away from actually selling any.

[cmackay] 26/6/2019 14:16

Way oversold due to lack of news imho. Who would guess African mining might take a while... I'm in.

[excellance] 26/6/2019 14:10

I've put a bit skin on the bone in the header.

Basically the company needs a digger and a couple of trucks to dig shallow loose high grade ore and truck it to the nearby sable refinery, simple.

Cheap and cheerful, quick easy cash, lots of growth potential.

[excellance] 26/6/2019 13:26

No idea about this one,
Zinc and Zambia seems OK, looking at details now.

[on target] 26/6/2019 12:59

Kabwe plant due to start production in Q4 this year, according to the recent Jubilee update.

[cbh123] 26/6/2019 12:59

that's quite a large amount of high grade zinc!

[bad gateway] 26/6/2019 12:59

Would seem. Think they made a mistake putting the no's at the bottom of the RNS. Most AIM investors don't read that far before their eyes glaze over.
Impressive no's though and if not B.S would imagine shareprice will rise as its realised.

[on target] 26/6/2019 12:48

Interesting. Well under the radar this one?

[bad gateway] 26/6/2019 12:45

"The MRE will allow for a 6-year life-of-mine small scale operation to produce rock mass of only 5,500t/month containing 12,000 t zinc metal per year to Kabwe. While in-house attributable revenues are projected at about USD15 million annually at current price, the annual all in cost is projected not to exceed to USD2 million.


We intend to apply without delay for a mining permit and target mining to start coincident with the Kabwe project."

Not bad no's for such a tiny marketcapped co.

[the bull] 25/6/2019 17:08

If funds allow, I may add this week

[the bull] 25/6/2019 16:54

Another reminder of where we are off to

www.proactiveinvestors.co.uk/companies/news/209589/cash-flow-from-zinc-mining-is-now-only-a-matter-of-months-away-for-galileo-resources-209589.html

[fireplace22] 24/6/2019 09:48

Well they previously sold all their JLP shares got for their tailings business at much less than current share price Not known for financial acumen, as you are probably aware they bought Star zinc at a very much higher price than GLR got it for.

[cmackay] 24/6/2019 09:41

Of course it's up to them. They would have to be extremely desperate to sell into the market and raise such a paltry sum off of a £50k deal though.

[fireplace22] 24/6/2019 08:57

They got shares equivalent in value to the £50K outstanding, up to them if they sell now for the £50k or hold for a premium later (or not). BMR are not in a great position to negotiate with anyone, their major asset is a royalty on production from a plant that isn't built yet.

[cmackay] 24/6/2019 08:48

If bmr were going to sell into the market at a ha'penny then I imagine they would have negotiated a better share price I would have anyway.

[fireplace22] 24/6/2019 08:16

Think GLR were in the driving seat where price was concerned that's probably why they got a premium for their shares, the shares given in lieu of the £50k cash settlement will imo be sold immediately into the market by BMR.

[pilkersa] 24/6/2019 07:57

Could see this smashing through 1p today.... maybe higher

[pilkersa] 24/6/2019 07:53

Now why would they do that... perhaps the offtake deal os imminent...could explain why share are being issued at a huge premium.....

[pilkersa] 24/6/2019 07:50

Sorry I phrased that badly - they are being issued with shares at a 120% premium.....

[fireplace22] 24/6/2019 07:33

BMR are still going and hope to 'emerge' again soon whether listed or not I'm not sure.