Fellas, First, I am pleased that Mr. Mair is stepping aside or was politely asked to do so. Why? It is not a secret I have been vocal about my disapproval of Mr. Mair because he lacked the gravitasse, the Charisma and the savvy to be a CEO, he was merely a technocrat! His inability and unwillingness to reach across the Isle or reach out to the leaders in Greenland proved he was a miscast during these crucial times since the special election! Mr. Mair is now yesterday's news, Mr. Mamadou is today and maybe tomorrow? I find the company either pivoting its ($31 M) resources into a new mining complimentary areas or eying other specific projects yet to be announced in the event Kvangfiled fails?? What I find most peculiar that there was no mention of any potential litigation with Greenland or at the least a statement regarding GML's strong legal position???? However, I am pleased we have a new leader with decent background in finance! More than experience, to me what counts is Performance! I am willing to give him a chance!
Here are some snippits of the announcement which I find rather peculiar:
"1- Following legislative andadministrative changes in Greenland during 2021, the Company intends to broadenits project portfolio and is seeking new opportunities in related technologyminerals and metals sectors to create shareholder value, leveraging off itsstrong cash position of $31.6 million at 30 September 2021. This will give GGGnew focus and reinvigorate its activities.
2- Until there is clarity from thelegislation the Board believes that it is prudent and timely to seek newopportunities outside of Greenland to which the Company can leverage value inthe near term.
3- The project underwent a 38-weekstatutory public consultation phase that closed on 13 September 2021, as animportant part of Greenland’s licensing process.
4- The Company has since lodged itsWhite Paper responses to the consultation phase. GGG has been communicatingwith the Greenland Government regarding the Kvanefjeld Impact BenefitAgreement, the remaining requirement to complete the formal exploitationlicence application.
5- The Company is also reviewinglegislation recently passed by Greenland’s parliament that places an upperlimit on the uranium content of mineral resources that can be exploited, and howthis legislation will impact the Kvanefjeld Project.
6- The Company will update on the nextsteps for Kvanefjeld as soon as is practicable."
La Vita Is Always Bella!
In REE Veritas!
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