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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
  0.045 15.52% 0.335 0.32 0.35 0.34 0.29 0.29 3,139,532 15:11:24
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -0.4 -0.1 - 2

Galileo Resources Share Discussion Threads

Showing 2176 to 2200 of 2300 messages
Chat Pages: 92  91  90  89  88  87  86  85  84  83  82  81  Older
DateSubjectAuthorDiscuss
10/1/2020
17:01
Agreed! And on a personal note, considering the length of time I've held here, further agreement!
cmackay
09/1/2020
08:40
zinc stocks getting low, prices beginning to rise, noe would be a good time to announce good news!
excellance
03/1/2020
09:38
Colin Bird (CEO) does hold 10% of the stock, so, yes, it's reasonable to assume he is interested in a better share price!
bookwormrobert
01/1/2020
22:18
As a substantial holder, I'm confident that Colin's interests are aligned with shareholders.
cmackay
01/1/2020
19:59
Interesting perspective. I’m sure we all agree that any further share placings need to dilute as little as possible, and no doubt CB understands that very well. Interesting to see how this plays out.
tim000
01/1/2020
19:53
It wont lift the share price if they bundle up the news with a massive raise in shares in issue. Colin promised that not a lot of money would be needed to get this zinc over to kabwe and he should focus on that, see the revenues pile in and then raise on the back of that
the bull
01/1/2020
16:55
Announcing a JV (assuming that is indeed required) might be accompanied by the application for the mining permit. The award of the permit no doubt will come later, accompanied perhaps by the announcement of a mining contract with a third party. I agree though that major pieces of news may be bundled up, which would help lift the share price
tim000
01/1/2020
15:37
Here's my best guess for 2020... From the outside it looks like we are waiting for several developments with regard to Star Zinc in Zambia - the receipt of the small scale mining licence, the appointment of a mining contractor, the formal signing of the pre-negotiated offtake agreement with Jubilee Metals, and the raising of enough finance to see this project through to production in Q2 2020. I think what we will see is that these developments are all linked together, and that we are in fact waiting for one very big piece of news - that is, the announcement of an approximately 50/50 joint venture with a Zambian mining partner for Star Zinc. The Zambian JV partner (perhaps the very well-connected XTR partner KPZ International?) will be responsible for both the start-up finance required and the actual mining, whilst GLR will commit the Star Zinc resource. The mining licence will be issued in the name of the JV. Likewise, the offtake will be signed with Jubilee in the name of the JV. So, all being well, there will be one monster transformative RNS sometime in the next couple of months, not a series of discrete developments. The price for this? Giving away around 50% of Star Zinc, but no further share dilution. I'd expect the share price to rocket on the announcement of such a deal - given GLR's current tiny mcap it should at least triple. Galileo will also still hold all of Kash'itu for the future. And, of course, their share of Glenover.
bookwormrobert
31/12/2019
11:55
Yes Colin does need to get on and reward those he has brought in from all these investor roadshows. Some good news soon please
the bull
31/12/2019
09:29
2020 could be a good year for these little chaps if they pull their finger out.
excellance
22/12/2019
14:02
bwr, but I've taken the placing into account in my analysis. Have a look at current assets and current liabilities and the placing. Do some 'rithmatic and you get £100k current cash.
sleveen
22/12/2019
08:14
Bezant Resources, another company of which CB is exec chairman, has a prospective JV with local company KPZ International for small-scale copper mining in Zambia. Maybe he has similar plans for a JV at Star Zinc? Edit: Xtract Resources, another CB company, also has a couple of JV projects in Zambia looking to acquire small-scale mining licences. I suspect signing off such a JV agreement is the main reason why an application has yet to be submitted.
tim000
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
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