question time, page-10

Hi Steve

Lots of one word answers to your questions.

The discussion in the Greenlandic parliament was for two weeks all about the Iron ore project and the issues associated with amongst other things geopolitical to "invasion" style migrant cheap workers and their award rates, their ability to vote and their visa requirements. The Danish Greenlandic interface here as well is important as the Danes manage foreign policy as you would remember.

Three quarters of the way through that quite robust debate they took a half hour break and unanimously voted through to fats track the last remaining/outstanding issues with respect to our project and ones I mentioned in my previous answers to Hayden. The Danish foreign minister was present and the whole thing for us went through in less than half an hour. The Danish foreign minister confirmed Denmark support for the decision and confirmed they would facilitate rather than interfere.

2. no

3. This refers to what royalty rate they will apply to Uranium production, this has been discussed quite a lot over the years with I believe The BMP appointing PWC to determine an appropriate rate. I don't know but I would expect a 1-2% net profit on Uranium only if anything at all. There is nothing to be concerned about here, you will remember that they added Uranium to our license last year, this is Scandinavia not central Africa.