Galileo Resources Share Discussion Threads

[petersmith6] 16/9/2021 08:39

Morning all . Trust me to have a lie in.. picking up a few more and sitting back

[go2nc] 16/9/2021 08:31

Looks like people are finally taking position as they can see almost 3.2 million GBP payment happening imminently. Plus a partner like SFR market cap of 1 billion AUD our next door neighbour too.

[johncasey] 16/9/2021 07:05

nice update this morning..might buy more

[johncasey] 16/9/2021 06:05

i meant first buy for a long while

[the bull] 15/9/2021 23:34

You mean you bought in to hold for long term, or your first buy here in a long time. Hope you got your timing right for us all

[johncasey] 15/9/2021 12:44

bought in today for a very long time...reminds me of solgold pullback before it rocketed from 1p ish

[the bull] 14/9/2021 00:38

Pullya finger out Colin

[the skipper] 13/9/2021 16:56

Well I was wondering why it didn't get a mention in the Shard note, but it's certainly about time we had some updates on the ones that are. Just wondering if CB is now waiting to do a comprehensive update on all the projects when he issues the annual results. Normally out around now but he might be taking advantage of the reporting relaxations related to Covid.

[5teadyeddie] 10/9/2021 15:24

Apologies. GLR has 0% of Kanye....it's 100% in another Colin Bird vehicle...Bezant. My bad :-)

[the skipper] 09/9/2021 14:35

Thanks Eddie. Yes it’s deep but we don’t really know where GLR are drilling in relation to the anticline so there’s a chance that any discoveries will be at a shallower depth. Not sure if we have a significant enough stake in Kanye for it to have much impact but am open to persuasion…

[5teadyeddie] 09/9/2021 10:19

Hi Skipper, thanks for that, very positive as you say. Deep though: highlights that GLR is unlikely to be able to develop any copper discoveries and would sell or JV them on.

On-surface manganese at Kanye could be different - processable in house, dependent on grade and chemistry.

[the skipper] 07/9/2021 10:55

Some very positive drilling news from Sandfire this morning:


Let's hope that CB is able to report similar shortly.

[the bull] 01/9/2021 12:55

Another delay then due to government delays/incompetence. At least it is a valid and clear reason for the extension and no sign of wanting to back out.

Surprised no other news is forthcoming

this I think would be a good time to add if i wasn't already over extended

[the skipper] 01/9/2021 11:35

News at last and very welcome it is too. Just added a few more to an ever growing pot.

[the count of monte_cristo] 25/8/2021 15:25

The worlds future is dependent on what happens with the transition from fossil fuels to green energy, that transition cannot happen without copper and other metals, like nickel. The majors don't find resources anymore, they acquire them, so that leaves the heavy burden of the worlds future, indeed one could say it's survival, on the medium and small cap explorers to find and then prove up projects.

But, they have been hammered into the ground over the last 5 years and have lacked funding, many went bust. We are now seeing a huge increase and resurgence in the interest for supporting explorers, but still it's too little.

It's probably too much for this bb but the world actually needs to start waking up to the lack of resources being found globally, because without these critical resources the world will be unable to transition. That transition it going to keep picking up pace because every year the forest fires are going to get worse, the storms will increase in incidence and magnitude and people will be impacted and then they will start to take action. If you live in California or Canada and can't insure your house because of forest fires, or you live by the coast but can't insure your house due to hurricanes, you are going to care a lot. The problem is, the visibility of the world is so short term when it comes to resources, "we are fine now and have enough for the next decade". But it generally takes 10 years to find a resource and take it to production and what happens if there is are continuing droughts in South America, to build a desalination facility costs money and that money is going to causing price increases, ever escalating prices.

Find an excellent copper asset, early in its story and hang onto it. HCH have got a good asset in Chile and Glencore have just picked up 10% of the company. But, they lack water, critical to any mine, as much as they may say they have access to it, do they really?!

[the skipper] 25/8/2021 13:47

Thankfully it looks like recovery is underway here as well at JLP Count. Would be nice to have some news next week though.

[the skipper] 16/8/2021 13:21

Thanks for the reminder fireplace. Very quiet here today with only one trade so far compared to last week's volume. Hopefully the lull before the storm...

[fireplace22] 13/8/2021 16:35

The star zinc deal:

Royalty Payable to Galileo: Galileo will be paid a royalty on any future sales of zinc from the Star Zinc Project based on the zinc grade. The minimum royalty rate is 3% and increasing by 1% for each US$250 increase in the zinc price above US$2,500 per tonne up to a maximum of 10%. The current LME price for zinc is US$2,786 per tonne based on the London Metals Exchange closing cash price on 3 March 2021 being the last practical date before this announcement. If the Zinc concentrate grade is 25% for a sale at a zinc price of US$2,500 per tonne this would result in a royalty of US$18.75 / dmt whereas if the Zinc concentrate grade were 30% a sale at a zinc price of US$2,500 per tonne would result in a royalty of US$22.50 / dmt.

[the skipper] 13/8/2021 16:09

I see what you mean Yus but looking carefully at the trades the stock which is being dumped is also being taken by a buyer for a small margin for the mms.

[the skipper] 13/8/2021 11:35

Nice one Gowski. Can't believe that you can still buy these below the June placing price. Probably the last day to do that though if there is news on Monday.

[gowski] 13/8/2021 09:39

From LSEGoogle maps now updated and shows digging operations at StarZincGoogle map co ord: -15.262500,28.244444https://twitter.com/Sharedata12/status/1425915802843234305?s=19Top picture is now, bottom picture is 31st March£700k end of the month£180k - £450k every month after that

[the skipper] 12/8/2021 11:30

I think it’s probably a bit early for news leakage Mr Bull. Just a question of positions being built ahead of the anticipated news flow, of which there should be plenty over the next few months.