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Share Name Share Symbol Market Type Share ISIN Share Description
Galileo Resources Plc LSE:GLR London Ordinary Share GB00B115T142 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.015 -1.67% 0.885 0.87 0.90 0.905 0.885 0.90 2,100,295 12:03:51
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -0.4 -0.1 - 7

Galileo Resources Share Discussion Threads

Showing 2151 to 2174 of 2575 messages
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DateSubjectAuthorDiscuss
22/12/2019
07:32
Thanks, that’s very interesting assuming it’s accurate (which it looks to be). That suggests CB is probably looking to farm out a majority of the project to hasten its completion, given a large-scale licence would take longer and be more costly to acquire - and of course there is the prospect of monetising the project within 6-9 months. CB holds nearly 11% of the equity so is incentivised for the company to reach profitability asap.
tim000
22/12/2019
00:30
bookwormrobert, Zambia : Mining 2020 hTTps://iclg.com/practice-areas/mining-laws-and-regulations/zambia Go to Chapter 4 : Foreign Ownership and Indigenous Ownership Requirements and Restrictions Check under section 4.2 of chapter 4
red rook
21/12/2019
15:41
As I recall the 500k in October was quoted as being sufficient for the mining licence application and capex up until the Star zinc commencement. My own interpretation of Colin comments on the placing is that more cash will be needed come March/April 2020 regardless of where GLR are with bringing Star Zinc online.
plat hunter
21/12/2019
11:29
I know a Zambian accountant, I will run it by her but I suspect such a law would only be implemented if the Zambian government wished to cease mining in Zambia.
cmackay
21/12/2019
10:27
Hi Sleveen! No, you're wrong about the placing being "in" the half-yearly accounts. The accounts are made up to 30th September, and the 500K placing took place in mid-October. Also, as a double check, you can see that the placing's not included in the income statement. So GLR's financial picture will be substantially rosier than you paint it - there should be ample funds to cover the period up to the grant of the Star Zinc licence and the conclusion of the offtake agreement with Jubilee. After those events have occurred, we all hope and expect the share price to be very different, of course. The current mcap here is crazy given the possible earnings from Star Zinc. Who knows, maybe the mining licence for Glenover will be granted in the interim as well? It's clear enough that Omnia (aka Major Fertilizer Producer) are ready to take the product. Hi RedRook! I've just done some checking online, and I can't find any reference to a requirement for a 50.1% Zambian-owned shareholding for the grant of a small-scale mining licence to a company (see section 2.1 of licence regs, non-gemstone small scale mining licence with 10 year term). However, I can't absolutely rule out such a requirement, either - maybe it comes from a different law or body? Can you supply a reference to back up your claim? If you're right, I can think of ways of handing such a requirement, but does it exist at all?
bookwormrobert
21/12/2019
08:45
500k placing taken into account so 100k current assets v 200k G&A for current 6 months. So placing of say £400k in Feb/March to get the accounts signed off by the Auditors
sleveen
21/12/2019
08:32
They raised £500k subsequent to the end of the period. But it was always the case that another placing (or asset sale) would be needed prior to Star Zinc becoming operational. As long as they’re mining before the end of 2020 I’ll be happy. Given the company has almost no resources - cash or management - it has to be accepted that completing environmental impact assessments etc etc to get a mining permit can’t be done overnight. We don’t know what CB has said to a BB poster, that’s hearsay! They’ve never said in an RNS that an application has been submitted. Better sticking to official announcements.
tim000
21/12/2019
07:57
Another placing will be needed soon, current assets of £100k [after taking into account the £500k placing in October] v G&A of £200k needed for the current 6 months.
sleveen
21/12/2019
07:27
There was a post on LSE where a fellow attended the JLP event in London in October and asked Bird directly about whether he had applied for GLR's small scale Mining Licence, the answer was he had applied for it. Have taken a position here BTW.
the_debt_collector
20/12/2019
20:47
... again from memory ... there is an application for a 'large-scale mining' permit that does not have the same restrictions as the 'small-scale mining' permit. However, I believe the difference there is a greater degree of official scrutiny ... and issues around health & safety etc...
red rook
20/12/2019
20:41
... from memory ... regarding getting the 'small-scale mining permit' in Zambia. I think the law was changed in 2015, so that it cannot be granted to a person who is not a citizen of Zambia, or a company which is not a citizen -owned company ... ie where 50.1% of the equity is owned by Zambian citizens. ... then there is the environmental permit which has to go though a separate authority (ZEMA) ... both will be a protracted affair ... and that is IF there are no clarifications required to cause further delay !
red rook
20/12/2019
20:31
... SO ... as I predicted :-) ... SO ...' the management' should not be putting out misleading statements as in the RNS on 26 June 2019 (6 months ago !) stating ....'' We intend to apply without delay for a mining permit and target mining to start coincident with the Kabwe project." ... ONLY to now state that they are in... '' preparation for submission of a small-scale mining permit application'' ... SO ... it goes to the trustworthiness of the CEO ... same old Birdie stringing shareholders along ... yet again :-) ... Also, note the qualifications on the start of the mining .. ''Mining targeted to commence Q2 2020, SUBJECT TO bulk sample testing AND availability of further FUNDING AND grant of small-scale mining permit INCLUDING environmental permit''
red rook
20/12/2019
15:05
so? surely the management will apply when the timing is right, assuming they havent already
excellance
17/12/2019
12:13
... I will make a prediction .... the mining permit AND the envirnmental permit have NOT been applied for yet. ... Birdie up to his usual games ... IF he had applied for them it would have been posted in an RNS ... with great fanfare and usual hype to get another placing on the go... :-)
red rook
17/12/2019
11:20
I would imagine the deal with JLP will only be announced once GLR has announced a mining permit. The permit is thought to be a given, but only once it's received will it unlock GLR's future cashflow, and hence the rerating of the share price. Note the zinc price is currently firming somewhat.
tim000
16/12/2019
13:18
It doesn't look like any JLP deal will be concluded before christmas then, perhaps sable is taking longer to upgrade than planned
the bull
05/12/2019
16:59
Colin and the confetti canon: Bezant Resources PLC Placing to raise £350,000 (gross)
sleveen
05/12/2019
13:26
If anyone fancies phoning Andrew Sarosi, his number seems to be 01752 221937.
tim000
05/12/2019
10:01
You stuck 20k into here Bull :-O
plat hunter
04/12/2019
22:17
I can't imagine Colin letting IIs in at a discount unless absolutely vital for ongoing ops, as he would be diluting himself more than anyone.
cmackay
04/12/2019
20:08
Tonight you people need to research ALGWBIG PLANS 100,000,000 million. Credit facility about to be approved and signed by a leading UK asset managerMcap of this company is only 5m nowWill be multiples And way past 20pDnt be left out in the cold
jammydodger1
04/12/2019
17:57
Are we just so damn early in this and the stock is just unloved/ignored because of past failings or are we cannon fodder before a huge issue of stock to let II's in at special rates. At this market cap, it wouldn't take too long to accumulate a sizeable holding
the bull
04/12/2019
16:13
Thanks Russ, that’s definitely a better scenario.
tim000
04/12/2019
14:53
Tim from the RNS on 21/8 and the podcast (post 181) CB talks of revenues of around $15m per annum: hTTp://uk.advfn.com/stock-market/london/galileo-resources-GLR/share-news/Galileo-Resources-PLC-Star-Zinc-Issues-JORC-2012-T/80581093 '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' So in this case does that assume less annual output from STAR than you posted (12,000 tpa) but with a higher percentage revenue share of the zinc to give them $15m per annum revenue - or am I missing something? Also in the RNS re offtake agreement it mentions 'Ore supply for up to 60 000t tonnes (t) ore per annum ' which fits more closely with the 21st August RNS where it said '5,500t/month containing 12,000 t zinc metal per year to Kabwe': hTTp://uk.advfn.com/stock-market/london/galileo-resources-GLR/share-news/Galileo-Resources-PLC-Update-on-Offtake-Agreement/80856017
homebrewruss
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