Crux Investor Video with GLP, page-57

Hi.

interesting.

Not sure that GSR currently have A$100 million in the bank in order to take over CNJ's 50% stake in the MTJV (current value A$100).

I would suggest that by the end of this year, GSR will actually need around A$225 million in order to take over CNJ's MTJV stake.

If GSR were to fork over A$225 million for CNJ's MTJV stake (not going to happen IMHO), I would probably vote to accept this offer (motto: bird in the hand!)

To be honest, I am still pretty keen on East Greenland, and I think we will hear some very interesting news on this front within the next few weeks. Particularly in view of the fact that CNJ now have over 5,000 metres of drill core (from their various prospects within their Ryberg and Mestersvig tenements) to be analyzed over the coming next few months.

Wishing you a successful week.

Cheers!