arbitration, page-7

We're still waiting for a brief outline of what happened at the arbitration meeting, if indeed it was held at all. Who would know because there has been a deafening silence from ETM since the scheduled date?

I'm not trying to be overly critical here of management, but compared to other mining companies, ETM, in comparison, tells the market virtually nothing.

For example, regarding the US-sponsored meeting of mining companies held a few months ago, which we still don't know why ETM didn't attend, they could have said we did not attend because ??????.

Regarding the arbitration meeting just held, they could have said that they believe their case was argued successfully (or not), and in the opinion of their lawyers, the arguments put forward by Greenland and Denmark were weak (or not) from a point of law i.e. in their considered opinion is it 50/50 - 60/40 - 40/60 that the arbitration process is likely to proceed.

I've said it before, and I'll say it again, that the management of ETM needs to show us they are capable of progressing ETM's interests. The status quo is not acceptable while they just sit back and draw on their considerable wages.

Why. I would also ask, do legal cases take 4-6-8 years to progress in Greenland? There can't possibly be hundreds of cases in front of ETM's that were lodged beforehand. Again, an explanation of the slow legal process would be appreciated from management rather than just mentions of far-off court dates.

We are seeing rapid progress in prospective rare earth projects across the world, and ETM, in its passive orbit of wait-and-see will quickly be left behind.

It's time to ramp it up, gentlemen, by starting to engage with whichever forum that will listen. e.g. holding a local public debate about the merits of the project, whilst also courting Naleraq to bring them onboard in anticipation that the current coalition will collapse. Or perhaps approach the American backers of Tanbreez, suggesting a meeting to discuss the potential for shared infrastructure for the two mines e.g a mining town and port. That would give GBB heart palpitations.

Open all lines of communication and see what happens. Don't play nice - play to win.