I've been in this stock for a decade or more and it never fails to disappoint. There is no doubt about the proven resource but to date IBG has never been able to get finance to exploit it. The shifting sands of the Greenland Government has always been a turn off for potential investors. In my opinion I think IBG management have picked a winner in going to the US for funding with Biden now trying to re-engage with the world after the isolationist years of the Trump regime - albeit from press reports he did contemplate trying to buy Greenland. There will be more than a pinch of politics in the result if IBG can secure the Exim Loan which is why I suspect Downer has been brought on board. He's a pompous fool from the wrong side of politics but he does know people high up in US politics on a first name basis. I'm also encouraged by the fact that Exim has already funded an Australian project. In 2013 they provided a USD $700 million loan to Australia's richest woman Gina Rinehardt to buy US equipment to progress her Roy Hill iron ore assets. Can I can see caterpillars roaming all over the Greenland countryside ? Maybe !
IBG Price at posting:
4.4¢ Sentiment: Hold Disclosure: Held
