Ann: Market Update - Delay in Assay Results, page-218

So your message is:

1. Regardless of the value of the deposit CNJ will not be be allowed to mine it given the new Greenland Government's attitude to mining any deposit containing Uranium.

2. Given past history, the management of CNJ is incapable of taking CNJ to a positive cash flow position within 10 years.


My answer is:

1. CNJ will not be mining uranium or any other mineralisation that is likely to contravene the new Greenland Government's stance on Uranium radiation. If they did, this would be suicide. FYI, despite your continual insistence to the contrary, Greenland is an underexplored, mineral-rich country with a competitive licensing framework, stable political environment, low investment risk and pro-mining population and government.

2. In the event that CNJ have one or more major discoveries in East Greenland, IMHO, it is highly likely that CNJ's management will not be taking CNJ to a positive cash flow position within 10 years. Rather, IMHO, CNJ's management probably already have a strategy in place that is focussed on entering into a JV with major miner who has the necessary expertise as well as the capital required to actually construct a mine and run it successfully for at least 20 years. Why? All junior explorers know that the skills that are required to find, explore, and establish a proven deposit are vastly different from those that are required to successfully develop, construct and manage an ongoing mining operation.

Don't shoot the messenger.

Wishing you good fortune with your investment decisions in 2022.