I trust the old GGG/ETM NPV which was as high as $2.19B (USD) NPV to about $1.59B (USD) NPV.
In relative terms EPM would easily be three-digit million market cap under the right circumstances; the same positive project valuation multipliers would apply, however has existing infrastructure on site, power generation etc less expenditure. I would not be surprised to see Gronnedal/Ivigtut catapult on next year's top 10 project list, after the Diamond Drilling Programme and further fieldwork.
Prior to the Greenlandic Election, GGG was on the cusp of entering the ASX 300 (but was in the URA); what took it's place was ASM (which was already in GDXJ) . Then ASM gained entry into REMX ETF when it was a few Billion in AUM. We now have a situation the REMX got completely gutted due to the weird bias towards listed Chinese REE stocks on the Shanghai Exchange as a consequence of US/China Trade War exiting large investors. There are currently no suitable investment vehicles for REE.
We are now waiting on the 1st August where China will start blocking Gallium and Germanium exports.
I think the REE companies are due for overall re-rate on the ASX, and at some point a better REE vehicle (ETF) needs to come into play (minus the China Bias).
(20min delay)
