Quite simply, CNJ and GSR appear to have now clearly demonstated...

Quite simply, CNJ and GSR appear to have now clearly demonstated that GAL's very exciting Callisto PGE-Cu-Ni discovery definitely extends (up to 2 kms) well into the MTJV tenement, with PGE-Cu-Ni grades and "potential" tonnages likely to be very similar to those at Callisto.

In addition, it would appear that not only does the Callisto PGE-Cu-Ni discovery extend up to 2 kms directly south into the MTJV tenement (see holes MTRC007D, MTJV001 and MTRC009D), but also, it extends at least 200m to the east (see hole MTRC003D) and probably even further than 200 m to the west (see hole MTRC0014D):




Given its proximity to the historical hole i.e. MTDD008, I expect hole MTRC017D (see above) to further confirm this southerly extension of the Callisto extension even further in the MTJV tenement.

Furthermore, not only is there a high level of predictability about the extension of the Callisto discovery into the MTJV tenement, the type of mineralisation i.e. PGE-Cu-Ni, as well as the lithology, is all uncanningly similar.

Indeed, IMHO, the only thing that remains really unknown are the exact PGE grades i.e. the nickel and copper grades can already be fairly accurately predicted throught the use of an XFR analyzer (in the hands of the experienced CNJ and GSR geologists), whereas the PGE grades have to be measured and determined by a lab i.e. they cannot by measured using an XFR analyzer.

IMHO, as long as the soon to be reported official PGE-Cu-Ni grades are very similar to those at Callisto, Bob's your uncle.

With regard to the tonnages, if GAL and CNJ/GSR combine their adjacent tenements, an extremely valuable PGE-Cu-Ni resource and mine should be the end and very successful result.

With regard to East Greenland, although I am confident that at Ryberg (Sortekap?) and Mestersvig plenty of progress has been made this season, (which I believe we will soon see in an "East Greenland Update"), it may still take many weeks or months before we really know how successful this current season at Ryberg and at Mestersvig really has been.

Fortunately, the current MTJV Phase 1 PGE-Cu-Ni drilling program is clearly where all the action is. This will give TAJ and CNJ plenty of time to sit down at the end of the year and discuss the merits of continuing to drill at East Greenland next season, or concentrate all of CNJ's capital and human resources on the MTJV PGE-Cu-Ni tenement (which at the moment looks like the far better and far safer/easier option).

IMHO, at the end of the year, and depending on how successful TAJ and his team have been at Ryberg and Mestersvig this season, there will be three options open to CNJ:

1. Float off Ryberg and Mestersvig into a separate entity (or separate entities).
2. Enter into a ca. 80/20 JV (where CNJ has 20% and is "free-carry")
3. Sell off Ryberg and Mestersvig entirely to the highest bidder.


Whatever happens, the next few weeks and months are going to be highly interesting (to say the very least!).

GLTAH.