Galileo Resources Share Discussion Threads

[ginko3] 21/5/2020 09:26

ha, thought Colin would put a stop to the rise in SP, weakness now until the 28th - he's now told us what he's bought, let's see how quickly he can tell us how he's going to develop it. On the face of it, it looks like a good deal but all 'highly prospective' ie risky.

[someuwin] 21/5/2020 08:09

Yup - good things happening here.

"Galileo Resources plc ("Galileo "or the "Company") is pleased to announce that it has completed the acquisition of 100% of Botswana- incorporated Crocus-Serv (Pty) Ltd ("Crocus") (the "Acquisition"), having satisfied the Conditions Precedent in terms of the Heads of Agreement ("HoA") (as announced 7 May 2020 -RNS number 3266M). Crocus's assets include 21 exploration prospecting licences (PLs) of which 19 are in the highly prospective Kalahari Copper Belt (KCB) and 2 are in the Limpopo Mobile Belt (LMB) in the western and north eastern Botswana respectively. The PLs cover a total 14,875 square kilometres"

[cmackay] 21/5/2020 07:15

Good work Colin

[the bull] 20/5/2020 10:43

Nice move up today, she have added the other day but there you go

[fillipe] 19/5/2020 12:26

GLR, really quite frisky with the ASK moving towards the 1p marker.

f

[the bull] 19/5/2020 12:26

Selling all my 6M in GLR on limit sell orders at 20p each

[someuwin] 19/5/2020 12:25

...Good article.

[philby1] 19/5/2020 09:31

Good article from yesterday and may explain why the share price is moving up today

[deme1] 18/5/2020 12:10

confetti Colin

[deme1] 13/5/2020 19:27

thanks ginko

[ginko3] 13/5/2020 15:58

He said that there were other processors around who could do it and that maybe would even offer slightly better rates but that he felt it unlikely that JLP would walk away.

[deme1] 13/5/2020 15:19

what was said when Colin was questioned
"If JLP decide to walk away"?

[ginko3] 13/5/2020 15:00

THe tenner for the conference ticket was well worth it, I've wanted to attend every year but the cost of getting down to London etc has been prohibitive. I'd be up for them running it that way every year.

[ginko3] 13/5/2020 14:59

They'll basically just need to sub-contract transport to get the stuff to the processor and some kit to load the ore into the transport; it's just about as simples as it gets.

[deme1] 13/5/2020 14:45

That is what I thought Ginko, confused as to why "the bull" who I assume is invested here thinks that GLR will be mining the stuff. Or even JLP if they buy it.

[ginko3] 13/5/2020 14:23

They are going to sub it out, Colin said that about the only piece of kit they'd need to own would be some storage.Its only strip mining anyway, no-ones going under-ground.

[deme1] 13/5/2020 13:39

JLP would become a miner.

Is that what GLR are?
Are they going to mine their own material and ship it to JLP, or will subcontractors be involved?

[the bull] 13/5/2020 12:42

JLP would then become a miner which isn't what they want to become, they are a processor. Saying that, I would be happy enough with 15p so bring it on

[ginko3] 13/5/2020 12:23

place your bets . . . roll the dice . . .if you can't afford to lose then leave the aim casino

[deme1] 13/5/2020 11:42

Colin was planning on Platinum revenues from DCM (JLP related) back in 2014, we are still awaiting the licence to produce the platinum from that site!

If JLP do not get the zinc circuit up and running in short order then the October deadline is fantasy. You do not get paid for the product in advance. I am sure there is a 3 month delay!

Don't believe what Colin says, he is an optimist at best and a borderline liar at worst.

[ginko3] 13/5/2020 11:27

CB is planning on revenues starting in 3rd quarter, October was mentioned.

[deme1] 13/5/2020 11:15

"With imminent revenues coming"

That is just not true. GLR HAVE to send the material to Sable (JLP owned) for refining. JLP have already stated that their Zinc circuit build is on hold due to the virus stopping them getting parts across the border.

JLP are currently focusing on and processing Copper and Cobalt from sable. Which are both very profitable and prices are strengthening.

(coupled with Hernic, DCM, Platcro, Tjate - to some extent)

I think Colin could be swayed because he is having to wait on JLP. Also £15mil will be a great help in getting Botswana moving.

All IMO

[fireplace22] 13/5/2020 11:11

What imminent revenues? JLP haven't even finished building the processing plant yet.
'The construction of the zinc recovery circuit remains on hold due to current restrictions and we will continue to update shareholders as the situation changes."

[cmackay] 13/5/2020 10:19

With imminent revenues coming online that would be in the vicinity of your proposed take out price, what makes you think Colin would accept such a paltry offer, considering he holds a large amount of the stock himself?