The prospects for drilling remain disappointingly vague. No update in the annual report to say that a subsequent event is that they have boots on the ground.
With a strong focus on exploring our Ivigtut project in southwestern Greenland, it is pleasing to see the progress we’vemade since acquisition and we are now on the cusp of our first drill program there we also plan to drill test the REEprospectivity at Grønnedal to gather further data on REE levels on this exciting prospect.
as the Company prepares to mobilise contractors to begin a drilling program at the Grønnedal Rare Earth Elements(REE) prospects.
On the cusp, plan to drill, prepares to mobilise contractors. I have a horrible feeling that nothing will happen before winter sets in.
the Company is planning further exploration activities to enable calculation of a JORC Code 2012 compliant resourceestimate for the Ivigtut project at the earliest opportunity, targeting delivery in H2 CY22.
In connection with getting a JORC, available funds are a bit of a worry. $659,753 in the bank is not bad. However as soon as they get a JORC they have to pay one million dollars to Cerium, from whom they acquired the tenements. That requirement is in the announcement to ASX of 14th January 2021:
"$1,000,000 - Within 10 business days of the announcement of a JORC compliant inferredresource within the Tenement in respect of any mineral."
I wonder where that cash will come from.
EPM Price at posting:
2.2¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)