"Looking at what has recently happened regarding the Greenland Government and supposed meetings with GML. it seems quite clear that the Government have taken the stance that they do not need to meet with GML and discuss options and enter a Dialogue."
GoG met with GGG on 15/12/21and made their intentions clear.
However, the Departmentstated granting of an exploitation licence would be considered a separate, new licence, and therefore subject to the new Act. Based on this interpretation, the Company's exploitation licence application would not be granted, based on its current development proposal for Kvanefjeld. The Company was advised of two options for Kvanefjeld, which are: • To maintain the present exploitation licence application, to which it should expect a refusal, or • To recall the application and potentially hand in a revised application, in which the Company would need to demonstrate that it can comply with the Act’s 100 ppm uranium threshold limit.
The GoG met with GGG again in February 2022 and yet again made their intentions clear.
"The Company was again advised that, as a result of the Act (which came into effect on 2 December 2021), it would not be granted an exploitation licence for the Kvanefjeld project. The Company was encouraged to withdraw its pending application for an exploitation licence."
Doubt the GoG would take such harsh stance with GGG if there was any ambiguity. Problem investors have is they're not privy to the finer details, which will come to light sooner or later, to be able to make an informed investment decision. Trying to piece together GGG chances form information in the public domain is just a recipe for disaster IMO.
GGG Price at posting:
7.4¢ Sentiment: None Disclosure: Not Held
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