So what does Shenge think about all this. Can it be coincidental...

So what does Shenge think about all this. Can it be coincidental that a few days ago, they acquired a 19% stake in Peak Rare Earths who are developing an RE mine at Ngaulla in Tanzania? Peak are still waiting on the SML for Ngualla, which was expected days ago, and has not yet materialised, for reasons that are not fully explained. Shenge hold about 9% of GML, so are they thinking of getting out GML, or sitting tight for the time being. The Chinese have a reputation for thinking long, and acquiring assets for future use, and keeping them in their bottom drawer.

With the Russian ongoing invasion of Ukraine, we are going to see an impact on raw material resources, and with Russia now cosying up to China, this will exacerbate the situation. As the world turns to more sustainable development, these raw materials will become more difficult to source, particularly for the manufacture of EV's and wind power, which is where Greenland comes into the equation. Kvanefjeld could be a huge resource of RE's, which for mainly political reasons cannot be accessed. I don't see Denmark withholding its subvention of Greenland any time soon, but neither do I see Greenland getting the independence it desires. The present GoG is effectively a minority government, and Siumut the main opposition party (and long time majority power in the country) is broadly in favour of Kvanefjeld. GBB tells us that they won't reverse the Uranium mining ban, at least in the near future, but that may change for a number of reasons.

There are other pressures on Greenland, both economic and climate related. For a start, and I have been here before, there is the slow failure of the Atlantic Meridional Overturning Circulation - AMOC. Recent research by the Scott Polar Research Institute that Greenland's ice sheet is melting far faster than thought, releasing huge quantities of fresh water into the ocean, which will slow down the warm currents that transport heat from the equator up to Southern Greenland. At present, Greenland is losing ice at the rate of a billion tonnes every day, and the rate of loss is increasing. Quite what the slowing down of the AMOC will mean is uncertain, but it seems likely that Southern Greenland will cool, which will impact on Greenland's fishing industry, a mainstay of its economy. Tourism, a significant contributor to the economy, will also slow, and the net effect of all this will impoverish the country, beyond what the Danish block grant can support.

What can GML do about this? Be patient for a start. As Gpoe and others say, continue negotiations with the GoG regarding the Uranium 100ppm limit, try and avoid litigation if possible, it will take years and cost a fortune to resolve, and not necessarily get the required outcome, and possibly worsen the situation with regard to the GoG and the populace. Offer as much as is possible to help the population of Narsaq, on whose doorstep the proposed mine is located. While this is going on, look for other opportunities worldwide (although I think the main focus should still be on developing Kvanefjeld).