Just seen there was an RNS @ 15.30. think i saw one this morning hence the top up limit.
Just shows you can not rely on trends with AIM , placings come thick and fast.
This one 2p ( limit was lucky ) but price appears to of closed below.
Stop losses triggers ?
Beaufort raise £ 1093,450.
No mention as yet ( S )
Preliminary computer modelling assessment of Concordia data identifies the opportunity to model surface mineable tonnes and grades not common in the global mining world
Concordia is identified to host some 5 potential massive bulk copper mineralized zones within a 10km radius of each other Huge database available on the region for initial examination including 1,377 kilometres of drilling on Concordia
Colin Bird, CEO said:" Both Parties, having completed satisfactory due diligence, have progressed and signed a formal agreement against the salient terms as appended. We are very positive about the project's fundamentals and consequently have immediately appointed a reputable independent geological consulting company to fast track, further modeling of the deposit, design of a suitable open pit and an initial financial assessment. We expect very quickly to position Concordia relative to other major emerging global copper projects."
The Okiep Copper District ("OCD"), which incorporates Concordia, was the world's largest copper producing region until the late 1920s. The nearby (10km) O'okiep underground, copper mine was the second largest copper producer in South Africa after the Phalaborwa copper mine (Limpopo Province) , which continues to operate to his day. The focus on exploration then was on deep underground mines working high-grade copper ore.
The Colin Bird video
"..The copper sulphide minerals, mainly chalcopyrite and bornite with subsidiary chalcocite, range from fine disseminations, to coarse granular, to vein aggregates, to local massive concentrations. Pyrite is widespread but in small amounts, dsometimes containing traces of cobalt. Pyrrhotite (Fe7S8) is present in some orebodies, with associated pentlandite (NiFeS), while minor galena (PbS) and sphalerite (ZnS) is found in others.
A sizeable geological exploration data base on the Project area is available, including mapping sampling, geophysics, and some 1 300km of historic drilling. The preliminary data for Concordia suggest the potential for a super-open pit type deposit, of possibly some 100Mt or more at a grade of about 0.6% Cu, mainly as sulphides.
Recent reviews of the geological and previous exploration data around the Project area suggest that any further focus on modeling for narrow high-grade deep copper-vein type deposits would not be the correct approach to exploration.
Preliminary modeling of the Project data for ore bodies at appropriately lower Cu cut-off grades than that for underground mining is suggesting the potential for large wide mineralised deposits close to surface on a scale akin to the super-pit copper operations in North America..."
GEOSPEC INSTRUMENTS (PTY) LTD
REPORT ON A 3D INDUCED POLARISATION SURVEY OVER THE HOMEEP AND SHIRLEY TRENDS, CONCORDIA DISTRICT, NORTHERN CAPE PREPARED FOR
MINXCOM (Pty) Ltd and Galileo Resources PLC BY Geospec Instruments (Pty) Ltd
20 DECEMBER 2016
Results of 3D IP Survey - Concordia
Geospec Instruments (GI) was commissioned during October 2016, by MINXCON, a geological
consulting firm based in Roodepoort, South Africa, to conduct Induced Polarisation / Resistivity
surveys over portions of Galileo Resources PLCs Concordia Copper Prospect.
The original request was for Dipole-Dipole array IP/Resistivity, but GI suggested the application
of a full 3D or distributed array survey which, according to all available information, would
provide higher resolution and deeper penetration at a lower or comparable cost.
3D IP survey equipment has been designed and utilised as far back as 1994, but all the known
systems were either in-house developments or proprietary eg. MIMDAS, TITAN24, ORION,
NEWDAS and DIAS24. IRIS Instruments of Orleans, France, recently introduced a new range of
equipment, consisting of independent, 2 channel receivers (V Full Wavers), which can be
deployed over a survey area, practically at random, to obtain a 3D representation of apparent
chargeability and resistivity of the sub-surface.
Surveys of roughly 1km by 1km were conducted over 3 blocks covering the Homeep and 2
blocks covering the Shirley trends, respectively. The Homeep East block was in addition,
extended to the east and south and infill measurements were made over anomalous areas. The
Whytes West prospect consisted of 2 adjacent survey blocks.
Overall Average Signal calculated from all 13 indicators. Signal Strength is a long-term measurement of the historical strength of the Signal, while Signal Direction is a short-term (3-Day) measurement of the movement of the Signal.
While waiting for news on Concordia, ive been looking for similar copper projects as a 'peer comparison', to get an idea of potential value.
I think ive found quite a good current match in neighbouring Botswna.
The T3 copper project is being explored by Mod Resources (MOD: Asx)
They have spent last year doing exploratory drilling and have defined a relatively modest resource of 28.3Mt at 1.24Cu with 0.5 cut-off.
They own 70% of the project.
They currently have a market cap of around $120m (aud) and have been over $150m a few weeks back.
Judging by this comparison I believe GLR has scope for considerable upside on defining a major copper resource.
Mining and development plans are so well advanced Galileo has a lead on its rivals.
For Bird it is a case of maintaining and making the most of this advantage, which he reckons is a marketing issue.
By this he means finding the right partners process his rare earths and end users to buy the product.
Whatever you do in life you dont play at it, Bird says.
We at Galileo are going to be very aggressive in our approach to other companies.
There are too many people on the dance floor and not all of them are going to get married, says the mining entrepreneur about the stampede into this very niche sector.
But rather than scaring him off, this appears to have galvanised Bird, the boss and major shareholder of Galileo Resources.
Increasing demand: Rare earths are used in high-tech gadgetry
Increasing demand: Rare earths are used in high-tech gadgetry
His strategy is to transform Galileo into one of the big wheels in rare earths rather than a classic price taker, as most small miners inevitably become.
For the uninitiated, rare earths, with exotic names such as Europium and Dysprosium, are used in all manner of high-tech gadgetry from iPads to guided missiles and points between.
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The scarcity of these elements and the growing demand for them made for a perfect storm.
World demand is predicted to grow by 10-12 per cent this year.
However, the addition to the mix of China (its the leading supplier of REEs but keeps a tight rein on output) has led to price volatility.
Rare earths is a small and specialist market, which means that that once the supply taps are turned on to full blast it is quite possible the dearth may turn into a surplus.
Already some rare earths, such as Dysprosium, Cerium Oxide and Lanthanum, have seen their upwardly mobile prices suddenly thrown into reverse gear.
GALILEO AT A GLANCE
AIM ticker: GLR
Valuation: £22 million
Current price: 27 pence
Year high: 68 pence
Low: 68 pence
Rare earths have become the vogue, says Bird.
And the trouble with our industry is everyone wants to jump on bandwagons.
It is great to jump on a copper bandwagon as theres a lot of copper in the world or a nickel bandwagon.
But when you start jumping on a specialty metals bandwagon where there is a very finite market, you run a major risk.
Birds Galileo has one major advantage that puts it ahead of the pack in the Glenover deposit in South Africas Limpopo Province.
A former phosphate mine operated by the gold miner Goldfields, it has around 3 million tonnes of stockpiled material out of a total resource of almost 29 million tonnes at 1.24 per cent rare earth oxides.
Of this 10.5 million tonnes is higher-grade material at 2 per cent total rare earth oxide.
Around the central core of the pit, meanwhile, theres an area of carbonatites grading 2.5-3 per cent rare earth oxides.
The relatively straightforward nature of the project means it could be up and running in around two years for as little as US$50 million. And this is a huge point getting into production in that timescale puts it well ahead of the chasing pack.
The project is a rarity among rare earth projects in that it is connected by tarmac road, is 20 kilometres from a rail line, and has other vital infrastructure such as electricity and water nearby.
What it will require is the capital equipment to process the material such as crushers, grinders, magnetic separation and flotation circuits as well as drying circuits.
There is more to Galileo than Glenover. A deal with Rare Earths International will see the group earn an initial 35 per cent of the Nkombwe Hill rare earths project in Zambia, moving to 49 per cent if Galileo meets its exploration commitments.
Its Mozambique project, meanwhile, is on a m
Posted...courtesy of 'aunty' and surely will put GLR in a commanding position? d3t
This was an article from 2012 on Glenover when the Sunday Mail interviewed Colin Bird. This is when i first got interested...
GLR was trading at 28p valuing the company at 22 million then, but the Mail valued it at 68p. With no mention of Concordia at that time, could Glenover be worth alot more than we think? I know the market in commodities has taken a dive since then but with commodities and demand due to rise, and also without taking Concordia into account, could we be sitting on a veritable gold mine?
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