Galileo Resources Share Discussion Threads

[undertaker] 23/2/2018 09:07

Time to fire up the engines....

[cmackay] 22/2/2018 16:33

I thought the cash position was ok, might be wrong though. Big drop on the day for no news, considering the anticipated news flow.

[on target] 22/2/2018 15:09

Placing incoming?

[andplus] 22/2/2018 07:21

Colin! Less talk more action.

[cf456] 21/2/2018 16:36

Some coverage in Proactive:

"Bird is optimistic that the geological implications of the recent drill are favourable.

“The drill programme has shown we could get stacks more. It goes up to around 50% zinc. And there’s lots of 28%.”"

[cmackay] 19/2/2018 12:50

April 30th gives enough time to generate a lot of interest. As you say, the price has form for a snappy one when there is sentiment so it will be a very interesting few months here.

[cf456] 18/2/2018 15:20

And also Beaufort's take on Glenover from earlier in the month:

"Our view: Galileo investors have been waiting some time for a development at Glenover and this morning’s announcement is very positive news. Although only heads of terms, the fact that bench scale test work has been successfully completed already bodes well. Pilot scale testwork will involve processing 30 tonnes of rock and we should know the result sometime before April 30th.In the meantime, we maintain a speculative buy on the stock."

[cf456] 18/2/2018 15:10

No probs cmackay.

I agree that there is a lot of potential upside from here.

Judging by the price action in early 2017, the share price is capable of really motoring when sentiment is favourable.

Recent news at Glenover and Star Zinc bodes well.

[cmackay] 17/2/2018 23:07

Cf456, thank you for that. I actually just searched for Beaufort Galileo and found the proactive investors article so was going to say so but I see you shared it already. I'm very excited about where GLR are going from here.

[cf456] 17/2/2018 18:00

"Beaufort Securities posted a squawk about GLR 14 Feb 08:51

Galileo Resources (GLR.L, 1.60p) – Speculative Buy

Galileo Resources announced yesterday encouraging initial results from its 51% owned Star Zinc project in Zambia. The Company has completed 750m of an estimated 1,750m drill campaign comprising 19 vertical and inclined holes up to a depth of 70m. Whilst assay results are still pending, 68% of the drill holes to date intersected high-grade zinc mineralisation based on hand-held XRF spectrometry. Highest point values obtained by the XRF was 52% Zn (willemite) and the averages of three point readings over mineralised intervals returned between 15% Zn and 28% Zn. Based on these initial results the mineralised zone has a strike length, to date, of 100m and remains open along strike and at depth. Galileo holds a 51% interest in the project with the right to increase to 85%. The Star Zinc project is a historical small-scale open pit that operated intermittently between 1950s and 1990s and has a non-compliant (historical) resource estimate of 275kt grading 20.2% Zn based on a cut-off grade of 14% Zn. The Star Zinc project has a four-year exploration permit and is currently under application for a further four-year period.

Our view: We are encouraged with the initial XRF data of up to 52% Zn and look forward to assay results in the coming weeks. In the meantime, we note that historical resource is based entirely vertical drill holes while Galileo has now drilled inclined holes which suggest that mineralisation may be associated with a series of E-W structures. We look forward to further exploration work as the Company continues delineate a 4.4km long geochemical anomaly defined by >100ppm Zn from XRF data. We also note that the Zn mineralisation is hosted in mainly limestone and this style of mineralisation may also contain anomalous silver contents. We maintain a speculative buy on the stock.

Beaufort Securities acts as corporate broker to Galileo Resources plc"

[cmackay] 16/2/2018 20:52

I've just gone back to the end of October 2017 on Beaufort's research list and there is nothing about GLR. They have put a speculative buy on a small cap I have been tempted to take a holding in at around 0.5p though, so maybe I will take that a little more seriously now.

[on target] 16/2/2018 15:06

Page not found.

[cf456] 16/2/2018 15:01

Speculative buy rating from Beaufort.

[cmackay] 13/2/2018 21:22

I think I'm right in saying it was related to Concordia copper project hype and subsequent disappointment.

CB has recently stated publicly that only one of the current projects needs to come in to take this up substantially, so I will be sticking around to see how this plays out. I'm currently looking at a top up here or possibly a couple of undervalued FTSE 100 shares. Probably going to put it in here though.

[ny boy] 13/2/2018 18:59

Apart from the double top, any reason for the share price collapse from 10p, to current levels?

[cmackay] 13/2/2018 18:14

A very positive news release. I supposed it was naïve to think it wouldn't be sold into, but the extra piece of the jigsaw is very welcome, and I am happy to hold for the medium to long term.

[cf456] 13/2/2018 10:57

Good buying opportunity with the seller providing the cheap stock especially given the strong recent newsflow over the past couple of weeks:

"The board is pleased that the potential exists by way of this Heads to realise a significant return on the Company's initial investment in the Project".



"This drilling programme has to date produced encouragingly high grade zinc intersections..."

[tomboyb] 13/2/2018 10:49

Morning -

a small addition to my holdings -

There is a bit of stock availability which suggests that someone is selling a few -

[nick rubens] 13/2/2018 10:47

Two points stand out on the summary.

1. Latest data suggests The Highest Grade.
2. It's on an East West fault.

Further drills and updates look like they are going to be very interesting.

[falia] 13/2/2018 10:19

boom boom time

[cf456] 13/2/2018 09:48

RNS just out.

"This drilling programme has to date produced encouragingly high grade zinc intersections..."

[sleveen] 10/2/2018 07:19

BMR suspension may have affect the sp, given the Star Zinc jv project.

[cf456] 05/2/2018 16:55

"If we base the value of GLR REE on the valuation of this find
it values REE at 350gbp/tonne

According to this article, admittedly its from 2012
[...]
GLR has 358732 tonnes of REEs which equates to a value of 125 million pounds according to the first link which is bang up to date. That valuation ties in nicely with the share price of glr back in 2012 ( around 47p). It would be around the same now if valued on the REEs only"

[nick rubens] 05/2/2018 08:37

This is great news, turning from exploration to production. Could do with an Institution taking a stake now.
Zinc drill news to come also.