"So close to Russia"?? Its closer to the US then Russia and you have the entire area of Europe in-between Greenland and Russia too. Russia has been staking out their frozen claims and the US realize they are falling behind. They have no hesitancy to get into the act and hence why Greenland is in their crosshairs. Commencing with this project.
Everything appears to be sound. Im just glad the site inspection went ahead as planned and LNS continues to hold interest.
LNS are now due to conduct due diligence within the next two months as planned. Thats the big release we are awaiting for because then we know things can sail ahead. Until then a number of newly identified factors are being considered to create additional shareholder value. Should have a few more announcements due. I always felt they should do more drill work given the resource is so open.
I dont think this announcement is as bad as it is good in a company with a very high holding base. Delays arent a good thing but progress and prospects are more important at the end of the day.
IBG Price at posting:
2.6¢ Sentiment: None Disclosure: Held
