Greenland - drilling results from CNJ neighbour..., page-33

Thanks for your comments which are all fair enough.

Not so sure though about that "sinking ship in Greenland" comment. In my view, it is far far too early to write off all of CNJ's prospects in East Greenland at both Ryberg and Mestersvig in one fell swoop (TAJ hasn't even started his new and greatly expanded "20 man" drilling and exploration program there!). You must have a very good crystal ball!

In fact at Mestersvig, IMHO, and under a worst case scenario, I see CNJ having a significant, and most importantly, an economically viable resource/mine at Mestersvig (from nearby strike extensions and other unmined areas from the old Blyklippen mine), as well as from additional high-grade zinc mineralisation (already identified by previous drilling at Sortebjerg) and high-grade Pb-Cu-Ag surface mineralisation already identified by CNJ at ther Nuldal Prospect in 2020. Enough said.

One thing that we can definitely agree is that GAL's Callisto discovery has been a huge slice of luck for CNJ and CNJ shareholders.

Although it is early days, if CNJ can indeed confirm that GAL's PGM/Rhodium discovery does indeed extend into CNJ's MTJV tenemement R63/4, and that this area is heavily mineralised (like Callisto clearly is), this will significantly derisk CNJ as an investment vehicle, and accordingly the entire MTJV Project.

IMHO, Mt. Thirsty alone should therefore give CNJ a MC of A$100 million (ca. 8 cents a share). Which I believe that investors have also finally cottoned onto, hence today's significant SP rally.

In a nutshell, today's significant SP rally is simply a rerating of the CNJ SP, accordingly the MC of CNJ, by the market i.e. investors, who at the end of the day (fortunately this is always the case with listed companies), have today loudly spoken i.e. together today they have carried out their own honest valuation of CNJ, accordingly its prospects (primarily the MTJV at the moment), as well as CNJ's chances of success.

At the end of the day, I can make MC calculations about CNJ's potential MC until the cows come home, however, it is the market's view that will always have the final word.

BTW, if the CNJ SP goes back to 1 cent in 2023, I will buy you dinner at the restaurant of your choice.

Cheers.