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0.4¢ ironbark zinc ltd

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djr67

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17/05/16

11:41

Post #: 17787904
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Originally posted by flamencojazz ↑

The Greenland Government will have to get around their law of payment of royalty for every kilo dug from the ground. The guy that expounded this was taken up into parliament where he made it law, and now he's saying that an agreement can be reached, just as was reached with London Mining. Further in the articles on the long news document (around page 53) we read that London Mining went under and a China General Nice Development company bought it (iron ore). I read that the Prime Minister (Aleqa Hammond elected I think in 2013) had two politicians resign in protest at her dipping into the National Treasury for private expenses. Outside Danish experts/commentators say that Ironbark is absolutely correct legally to refuse to pay the royalty since the contract was signed in 2007 and had nothing about royalties in it.

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Correct on all - but the fact is they are under pressure to do something:

In order for Greenland to meet the goals it set out in its 2014 mining strategy, it must give investors a reason to return:

http://arcticjournal.com/oil-minerals/2231/time-zag

IBG Price at posting: 4.2¢ Sentiment: Buy Disclosure: Held
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