Hi. Just back for a comment. You might all recall my previous post, re-postet below.
"After being a long for a very long time, I have just sold 90% of my holding with a large loss, and are only holding 50k as a lottery ticket.
I do NOT believe that GGG will benefit from the Chinese connection, as there will be a LOT of political resistance to a Chinese monopoly, and they will find all kinds of obstacles to prevent this, until GGG find a new partner they can agree to.
It will take years before this is solved, and before that, GGG will need funding, which will give a huge dilution.
Very sorry to see this happening, as the rest of you long i had hoped, but............... :-( "
Unfortunally I was right.!.
The previous poster "Bo Andersen" failed to quote the hole article from Business.dk, why I have to quote an few other important paragraphs from the article.
Below is a Google translate with my (corrections and comments), where this is most needed.
" The concern in the Foreign Ministry and (with) the Prime Minister , according to sources in the central administration (is),(that Greenland's right to it's own management of raw materials can lead to) that the rare minerals in Greenland can be used politically.
From a Danish perspective , the most obvious fear that the Australian mining company Greenland Minerals & Energy (in a) few years (can be) allowed by the Greenland Home Rule Government to open the mine in Kvanefjeld and makes a deal with a company from China, for example to deal with or (letting all the minerals being purchased by them)
Such Greenland- Australian- Chinese agreement will at worst mean that European and U.S. companies (have no access to) Greenland's rare earth metals, and it will clearly be able to provide foreign policy entanglements with major power players like the EU and the U.S. - and thus affect the entire kingdom's foreign , defense and security, the sources says.
Therefore, Denmark would have (to)worked out a deal with Greenland on (also) the critical (rare earth)metals, so (one) are sure to be able to assess whether the project has defense, security and foreign policy complications. If that is the case, Denmark, through dialogue with Greenland assess the way forward."
"According to the Social Democrats (present government) Greenland spokesman Flemming Moeller Mortensen , the dialogue and cooperation between Denmark and Greenland also necessary when it just comes to certain rare earths.
' As soon as it raises doubts as to whether it has a security policy dimension , as they say , it requires a special discussion and dialogue , as you agree the acknowledged disagreement. This applies to uranium , either as pure product or waste product , but there may also be issues associated with rare earths, "he said.
From blue block sounds similar messages. Liberal(previous government, and likely also next election winner) Greenland spokesman Claus Hjort Frederiksen, stresses that to the extent that in the case of rare earths with a geo-political and strategic dimension, there will be a foreign policy concern - and that is a matter for the commonwealth.
Danish People's Party(2.largest opposition party)spokesman in the area , Søren Espersen, invites Greenland to accept that they can not act on its own.
"If no one in Greenland have (understanding for) that (this) is a matter (for the commonwealth), you will not be able to start extracting, and it will all be dragged out and (that) will be detrimental to Greenland , "he said."
Well, here you have it. If GGG don't find an "agreeable investor and business partner", this project will be stalled for years to come. Delta.
"Above is IMHO of-course."
GGG Price at posting:
12.5¢ Sentiment: None Disclosure: Held
(20min delay)