EPM 0.00% 0.8¢ eclipse metals limited.

I jumped on in the morning. The zoom call was a little laggy at...

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    I jumped on in the morning. The zoom call was a little laggy at the start with the helicopter video footage of Gronnedal/Ivigtut.
    Lachlan from ShareWise was hosting and gave a bit of time for the Pope to give a bit of background on the project.
    I couldn't see how many participants, but most questions on the Q & A appeared to come from email prior to the meeting as confirmed by Lachlan.
    The line of questioning was surrounding funding - I am guessing trying to get feel for whether substantial capital raising would occur, and Pope was adamant the strategy is to proceed with non-dilutive funding options (excluding facility from Pioneer, which still has quite a bit of capacity for funding).
    Apparently there have been low ball offers (from brokers) for low ball placements, but also requests for placements from shareholders.

    [There was an increase in the bid activity, and some sellers appear to drop off]

    Anyway the Pope mentioned that they will know for more certain for 2025, I guess this was implying the Strategic Project status application process.
    He mentioned ERMA was also holding some funding options. This did ring a bell as prior to the Strategic Project status - ERMA were already issuing support to Greenland Resources (listed on NEO/CBOE exchange, Canada). The ERMA have the milked the absolute shit out of the media cycle on that project, I would not be surprised if they name a street sign or have a parade in their honour.

    The Pope was enthusiastic and warned that investors need to ensure they don't miss out; to bring into context I think the access to the Diamond Drill Cores are a game changer - as it's highly probably this could see some industry players (perhaps waiting in the side lines for conclusive results).
    One Q&A question asked when there would be significant drilling, and the Pope basically responded that the Diamond Drill Cores are substantially important - but we will still need much more drilling. This implied that there was need for the undiluted funding then and there. I think though we are excited for larger JORC the challenges remain elsewhere.

    The Pope confirmed the water testing was conducted last year - there wasn't much fanfare, I don't recall when though - this might have been the first time it was confirmed.

    There was a question about the timeline of the Mining Licence; and it appeared to still be on track for 2024 - It was mentioned the GoG were already happy for mining to occur in due course (I am guessing this was in the sense that the site and area are historically for mining). I can't recall if there was any mention of the EIA and SIA timeline - but we will know if GoG puts it up for community consultation. I recall hearing at the previous AGMs that the water testing was the 'largest issue', as they wanted to ensure that an appropriate filtration system was used to remove/reduce the lead contamination of the pit water to the Fjord/ocean.

    There was one interesting mention that caught my attention when discussing the prospects of Gronnedal/Ivigtut the prospects the REE are for Defensive (missiles) industries/Technologies; it was listing other technological uses - but that one that stood out the most.

    Oz Yellow spin-out wasn't at all mentioned if or when proceeding, Pope mentioned EPM has the Uranium Assets / Manganese ... etc
    If there is another business combination then they better show themselves to EPM, as I don't there should be any further delays.
    I wonder if the delay in the Oz Yellow spin-out could be EU has finally realised that EPM are holding critical minerals outside of Greenland?

    Logically the share price decimal point should be further to the right.

 
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