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It is unlikely that Günther Jauch in "Who Will Be a Millionaire" would ever ask his candidates the question: "What is a chonolite?" The geological term would probably be too remote even for the Jauch Quiz editorial team. Who knows? And what use should that be? The success of Conico Ltd. (ASX: CNJ; FRA: BDD) could put this "useless knowledge" in a different light – at least among investors. We first presented the special geological phenomenon on December 27, 2020, when we first brought Conico into focus on GOLDINVEST.de. The stock stood at AUD 0.031 at the time. At that time we wrote in our annual preview: "Conico is one of the biggest new discoveries for us in autumn 2020. (Goldinvest.de hasn't reported on it yet, but will do so shortly.) The young British entrepreneur Thomas Abraham-James, MD of Conico since November, has an extremely daring but also extremely exciting exploration thesis: he believes that his Ryberg project on the east coast of Greenland has the potential to become a second Norilsk nickel. Yes, Norilsk!
Normally, such a thing would be dismissed as megalomania. But Thomas has science on his side: the 4500 km² Ryberg project lies at the intersection of so many favorable geological events that the thesis must be taken seriously. After all, Thomas has persistently collected facts about his Ryberg project in East Greenland for ten years. (Link to the Ryberg Paper)"
The caption at the time read:"Actually, technical terms like "Chonolith" are only for geological experts. But the above picture clarifies the principle. Highly concentrated sulphidic mineralization has settled as sediment in a magma pipe. Conico is expected to drill into this sediment at a depth of only 150 meters from April 2021." (https://goldinvest.de/aus-der-redak...-die-potenziellen-top-performer-der-redaktion)
Figure 1: Chonoltih.
https://en.wikipedia.org/wiki/Chonolith Figure 2: Conico Chart since 27.12.2020. Our first reference to Conico's project is from December 27, 2020. Since our first mention, we have reported on the progress of the company on www.goldinvest.de about a dozen times.
All articles can be read in the Conico profile on oursite. In particular, we once again recommend the detailed introduction of 12 March 2021 at this point: The thesis at the time was: Greenland could become a strategic commodity bank for the West. We were too optimistic about the expected drilling date in April of this year (see above), but at least work has been going on at Ryberg since the end of July.
Silicon Valley Fund Kobold Metals' recent involvement in western Greenland seems to confirm our assessment that Greenland's geostrategic role is becoming increasingly important in times of increasing block formation and deglobalization.
The English phrase of the "perfect storm" hits it pretty well. Greenland has the chance to become a global raw material destination, especially for the West – the Greenlanders themselves and their neighbours, the Icelanders, know this. Wouldn't that be a nice vision: To extract urgently needed battery metals in Greenland with responsible "zero waste" mining – possibly with green electricity from Iceland? The Icelanders, who are already an important producer of aluminium, would probably very much like to process Greenlandic ore and supply the first quite green electricity to the neighbouring island. Mining without diesel, that would really be something new. But we digress. We had announced a hot summer – and that's exactly what happened: https://goldinvest.de/mining/249-co...jekte-fuer-einen-heissen-sommer-auf-groenland So far, every well has hit Sulphiderz!
Further drilling is pending and the first drill core analyses could be available by the end of October.
Of course, we know that Conico is only a "story" as long as there are no drill core analyses
yet! But it's just a good story. Conico has secured the most geologically promising ground on the east side of Greenland ("prime real estate") – an area almost twice the size of the Saarland. Considering this size, the performance of modern geological survey methods is even more admirable. Incidentally, this distinguishes the situation on Ryberg from earlier discoveries such as Bushveld in South Africa (1897) or Norilsk (1920). Today's technical means are incomparably better and yet it is a fact that most parts of Ryberg have never been touched by humans. It's really new territory!
For those thirsty for knowledge (you never know if you might need something like this at Jauch) two links are recommended here: The first concerns the Bushveld complex, today by far the most important mining district for platinum/palladium
metals. It was first discovered in 1897 by Gustaaf Molengraaff. https://en.wikipedia.org/wiki/Bushveld_Igneous_Complex. For the discovery story of Norilsk, we recommend a Youtube videothat impressively depicts the dramatic history of discovery.
What we want to say: Discoveries are made by explorers.
That used to be the case and it is the same today. Thomas Abraham-James, the young CEO of Longland Resources, worked for 12 years against all odds towards a discovery. We find it extremely exciting that in a world where we have assumed that every little corner is already known through Google Earth, such surprises are still possible. In this sense: Let us be surprised what will become of Ryberg/Conico in the future. It is already a success (see heading), even if it is still unclear what the exact dimensions are. Goldinvest.de will certainly stay with Conico. If we are lucky, the topic could occupy us for years and decades to come.
CNJ Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held
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