Thanks, eastwest for the detailed response. I'm somewhat perplexed with your anti NFC sentiments and wonder if you've researched them at all. They aren't shabby and you might take a look at their website for starters http://www.cccme.org.cn/shop/cccme1829/index.aspx. Apart from your general concern with NFC, I would respond to your items:
1. This is what NFC does and rather successfully apparently
2. NFC and the Greenland authorities are very comfortable with each other. NFC have arranged high profile visits to Greenland, and the Greenland officials have visited NFC in China. This relationship has been years in the making and I can't see any problem with NFC getting money out of China. That is what they do, international mining projects!
3. The price of fuel is the biggest operational expense in the Feasibility Study. Guess what the cost was back in 2013 and what I was referring to with NFC now reworking the costings
4. Normally over budget surprises are contained within Contingencies and this can happen with any project, let alone Citronen. More to the point though, is I'm not terribly bothered if this happens down the track, as am more interested in the market re-rating the stock now with $40m market cap because people don't think the project will ever get off the ground.
No, my money is on NFC. They want to develop this project, take significant equity as well as secure some of the production for their hungry domestic market. Also note the Chinese authorities continue to clamp down on local environmentally damaging zinc mining.
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