eur, page-244

I don't think buying shares in Tanbreez, in Greenland, was a good investment. This unlisted company is hoping to extract rare earths from eudialyte.

Though this process has been, for many years, experimented on at laboratory level, there is not a single mine in the world for processing eudialyte and extracting rare earths.

Tanbreez has been trying unsuccessfully to raise funds for the last 20 years, until EUR was suddenly so lavish with its $3,375,000 investment (see last annual report).

For discussion of eudialyte see the ETM threads.

IMO it would have been better for EUR to have kept the cash for promoting Austrian interests.