NRO, I am happy to stand by them. They are all accurate with the exception of a typo in converting the Kvanefjeld NaF level but forward by the company in their 2008 annual report at 2.01% Villamite level which translates to an NaF level of 20,100 ppm instead of my typo of 20,900ppm.
Again , as a practical matter, it doesn't make much difference, both those numbers are indicative of hugely dangerous levels that if not dealt with very carefully could be deadly to human and animal life.
Your disproves are as usual very subjective and so less than convincing.
Bottom line, the company spent 269,000,000. and 12 years later has not gotten anything done. THEY ARE STILL AT THE BEGINNING OF THE LICENSING PROCESS, NOT EVEN AN EIA APPROVED. THE ONLY THING THE COMPANY HAS GOTTEN FROM SPENT 269,000,000 is 3 FAILED EIA's.
Ciao, NRO
Jack,
Why do you think you have the right to tell me to go away and start another thread.
I will answer your question though.
Yes, I do want advocate the firing of John Maier and His board. Why you ask, because as the senior executives of GGG they are, or should be responsible for the decisions taken by the company. WHY, BECAUSE THEY MADE THEM.
And how have those decisions played out? After spending 269,000,000 in 12 years, what did they accomplish for those expenditures?
Have they gotten a mining license approved? NO
Have they even submitted the requisite paperwork for getting a mining license? NO
Have they successfully completed even the first task necessary in getting a mining license, that is: and EIA (Environmental Plan) ? NO, THEY HAVE SUBMITTED 4EIA's. 3 HAVE BEEN REJECTED and the 4th is still being considered. So they are still without anything that can be called progress in procuring a mining license. AGAIN, NO successful submissions in the process of getting a mining license after 269,000,000 spent. During these 12 years the company also, decided to give away options to directors, friends, promotors of the stock. They were redeemed for roughly 200,000,000. So the company not only spent 269,000,000, buying nothing but failure, and they also gave themselves and others friends and promotors another 200,000,000. Why? Because the company was doing so well?
So now the company after a recent fundraising has 12,000,000 in the bank, the company is running a burn rate of about 2,000,000 a quarter. that means they are either broke or need to raise more money in 6 quarters. Giving away 200,000,000 mil is not looking smart to me at this point yes?
The last reason to fire Mair is because of the foolish and inappropriate lobbying scheme he put into place to pressure the government to give them a mining license without the company having to complete all the tasks and get all the approvals for a mining license. This foolish errand on Mair's part also failed, and in the process severely damaged the company's credibility in Greenland. The harm is yet to be fully known, but it could keep the company from ever getting a mining license. Both the Prime Minister and the Deputy Opposition Leader have publicly come out denouncing the Mair's lobbying effort.
So I call for Mair's and the boards firing, as they are all responsible for all of the wasteful and universally failed decisions made by the Mair and the Board. GGG has a narrow window to fix these failures and survive, but it can not do so with the abysmal and foolish management that they have foisted on the company. Their Firing is the company's only chance to survive.
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