Galileo Resources Share Discussion Threads

[excellance] 26/8/2022 12:07

Had a tiny holding here for a few years. Got bigger fish elsewhere. I do keep an eye on things here.

Birdy does more flipping than Macdonald's.

[axonic] 26/8/2022 12:00

You’re not in GLR then Ex?

[gowski] 26/8/2022 11:33

Someone buying can be quicker plus im in no rush :D

[excellance] 26/8/2022 11:32

If you want a great nickel investment, look at HZM, who are actually building their mine now and are fully funded, fully diluted, with minimal risk.

[excellance] 26/8/2022 11:29

From flying over in an airplane to building a mine takes 15 years.

[gowski] 26/8/2022 11:23

It means a potential $2.1b of nickel? Dyor

[festario] 26/8/2022 11:20

Skipper will be selling, whilst telling everyone a rise is coming.He's got form for that.

[excellance] 26/8/2022 11:17

Today's news doesn't mean anything,

[axonic] 26/8/2022 11:16

This morning’s RNS will no doubt be digested over the weekend read for a feeding frenzy next week. Hold on tight.

[axonic] 26/8/2022 10:51

Lovely RNS, light the blue touch paper 🚀

[the skipper] 26/8/2022 10:50

It's certainly starting to look like the chart is going to emulate the rise we saw during the winter of 2020/2021 despite the overheating TA indicators, with the company now in a much better place than it was then both operationally and in terms of cash resources, so let the re-rating continue!

[soulsauce] 26/8/2022 09:22

go2nc, excellent indeed on top of our other embarrassment of riches. Exciting times.

[go2nc] 26/8/2022 09:14

Excellent RNS. watch the fireworks now

[axonic] 25/8/2022 20:46

Some good volume going through here and all looking very positive for a good run IMO. GLA

[the skipper] 22/8/2022 12:53

We should find out how much cash the company has in the bank when the final results are issued next month, but with the cash that has come in from Glenover, Star Zinc, Sandfire and option and warrant exercises I think there is little cause for concern. Then there’s the Sandfire shares which can easily be sold if additional cash is required.

[excellance] 22/8/2022 12:28

If we don't get the £5.33m in November, will there be a placing, or are our placing days finally over?

[excellance] 22/8/2022 12:01

Cm
They've been flipping projects for longer than that, and never seem to get anywhere, but Mr Bird does very well out of it, no wonder that he loves this company.

If they get £5.33m in November I'll be amazed...but I have a very small holding here regardless.

[the skipper] 22/8/2022 11:58

The Afrimat news release needs to be read n the context of this RNS from GLR:

[cmackay] 22/8/2022 11:35

I've been in here for about 5 years now, looks like it's all starting to take shape

[soulsauce] 22/8/2022 09:53

Poster surmising that we should have money incoming from Glenover.

[soulsauce] 22/8/2022 09:51

Thanks to MicroMiner on lse, this update from Afrimat today:-

Incorporated in the Republic of South Africa
(Registration number: 2006/022534/06)
Share code: AFT
ISIN: ZAE000086302
(“Afrimat̶1; or “the Company” or “the Group”)

UPDATE ON ACQUISITIONS/MAJOR PROJECTS

Glenover Phosphate Proprietary Limited (“GlenoverR21;)

Shareholders are referred to the announcement released on the Stock Exchange News
Service ("SENS") on 9 December 2021, in terms of which Afrimat announced that it had
purchased certain assets and rights to mine select deposits at the Glenover mine ("Glenover
Mine"), as well as the option to acquire 100% of the shares in Glenover Phosphate Proprietary
Limited (“GlenoverR21;) from the current shareholders (“Glenover Shares”), for a total purchase
consideration of R550 million (“Glenover Acquisition”).

The Glenover Acquisition includes phosphate stockpiles ("Inventory Deposits”), rare earth
elements and a vermiculite mining Right ("Glenover Mining Right”), which positions Afrimat
to enter new commodities aligned with global trends relating to food security and advanced
technology, for example electric vehicles. The implementation of the initial phases of this
acquisition have progressed well with Afrimat selling high-grade phosphate.

THE FEASIBILITY STUDIES OF THE FOLLOW-UP PHASES OF THE PROJECT HAVE YIELDED PLEASING RESULTS THUS FAR.

There are no outstanding conditions precedent in respect of the Inventory Deposits and
Vermiculite Mining Right, and payments of R215 million and R35 million for the Inventory
Deposits and the Vermiculite Mining Right respectively were paid in cash to the sellers.

[...]

[excellance] 22/8/2022 08:46

I had a great run with DME discovery metals plc when they developed their Boseto project at the KCB in Botswana a decade or two ago.

The crash of 2008 put an end to that unfortunately, the small print in their loan agreement screwed them terminally, but the post code is good...

Ownership of Boseto has changed a couple of times, and is now operating again.

[the skipper] 22/8/2022 08:36

I think this weekend tweet might be responsible for it:

Amongst other things it demonstrates the close proximity of one of GLR’s licenses to Cobre’s recent discovery and might be worth adding to the header excellence.