We have to wait and see what the Authority and IA have to say when they make their response which as previously advised they would respond promptly.. We need to remember that GML have been progressing a Rare earth Project since 2007... In 2013 GoG changed the law regarding Uranium that allowed GML to make improvements in processing and include a minuscule portion of the Uranium as byproduct which then made a small improvement in the revenue...
GML have never promoted a Uranium mine so Global X shareholding considering the current potential could be considered a bit unusual...but maybe they have been looking at the bigger longer term picture and the continual improvement of uranium as the key supply to quickly reduce reliance on Fossil Fuel...with Green Nuclear Energy....
As clearly stated in the video GML have a number of options available to them, but at present they have followed the rules as given to them by the Greenland Authority..
The SP is still holding up and not collapsed with almost 50/50 buy and sell with decent volumes compared to other projects that have actually dropped with good news...
The EU recently had a Critical Minerals Conference Nov 19 2021 not sure what would have come out of that. Remembering that IA joined the Alliance recently and GML have been in the Alliance since back in 2020 sometime or earlier. Clearly in the notes from that conference in 2020 it was stated that Kvanefjeld should go ahead. Not sure now with that leaves the EU with secure supply being relied on from Greenland to reduce reliance on China....
We also need to remember that Greenland Politiians have actively sought investment from China with many visits. whatever the IA position now.. Also the Arctic is important to China in it's longterm plan Greenland being strategically important .....
I also note an article put up about the Gemstone Tugtupit looking to develop a local Narsaq gemstone indusrty but much of the surface area already covered on Kvanefjeld but the 100 limit would seriously effect locals doing anything on that front I would think so no go on that front...??
However GML mining at Kvanefjeld would unearth further supplies which could be beneficial to locals wanting the Gemstones...The SIA report covers Tugtupit
"How a Society Can Choose to Succeed or Fail"
"Go Thor"
GGG Price at posting:
8.1¢ Sentiment: None Disclosure: Held
(20min delay)