Wonder if Greenland is going to be another Mongolia - full of natural resources, but impossible to develop because the local government can't make up its mind, or can't hold on to power long enough. I've lost tons of money on Truth North - owners of a super rich ruby deposit south of Nuuk. Greenland is happy to give them exploration licenses, but getting a mining license appears to be impossible. And this mine would involve just surface mining of hard rock and crushing - no chemical separation or leaching. About as clean and low impact as you can get for mining.
Mongolian analogy is my best explanation. Exhibt #1 is Ivanhoe/Rio. They appear to be completly stalled on developing the Oyu Tolgoi copper gold prjoject in Mongolia. I've got some South Gobi, which is a coal spinoff of Ivanhoe. South Gobi is producing coal, but only from some 2nd tier deposits. The government held onto the best deposits and is letting some local companies try to develop them.
GGG Price at posting:
36.5¢ Sentiment: None Disclosure: Not Held
