EPM is quite rightly seeking approval to drain the pit along with potential issues in managing the pit water. Same old issues that we don't have answers for a random internet commentators:
- Is the pit open to the sea? If so there could be little issue with draining pit.
- If the pit is not connected to the seas how contaminated is it and what if any restrictions will government place of draining it.
- The old timers were flooding and draining the pit every year and did so to stop the pit from ice and snow over winter.
- The old timers with less tech than we have now drained the pit within 20 days.
- This whole area thanks to previous mining by Greenland is one of the two most polluted areas in the whole of Greenland already.
- The miss management of tailings through lack of knowledge at the time has led to storage of tailings that to this day cause environmental pollution through lead and zinc.
- Reprocessing and proper management of tailings by EPM will not only result in royalties for Greenland, it would also improve the continued pollution issues.
Alas, once a wholistic view across hundreds of years of mining is taken, the potential to improve the pollution problem and make some royalties along the way that don't have any uranium attached, I pray that government approval is on the cards.
EPM Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
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