Dutch,
You may not be interested in Tanbreez, and i am not interested in Tanbreez in this forum, except as an example of a Greenland mining company who seems to be succeeding in doing everything that GGG is FAILING at.
Many on this forum talk about the great job that Mr Mair and the directors are doing. I disagree with their views. So looking for examples of what other companies are doing in Greenland, and comparing them to GGG seems a reasonable thing to do on this forum.
Very quickly let me remind you of the comparison.
Fiist GGG: The company has been trying for 12 years to get an Environmental plan/report called an EIA approved. They have submitted 4 separate documents to do this, 3 of the 4 have been rejected out right by the Greenland government and the 4th is being reviewed, but apparently cannot be approved in its present form. During this process the company has spent, and or given away, 469,000,000 dollars and they have achieved only failure to today from that spending. NOTHING HAS BEEN GAINED TOWARD THE ML PROCESS WITH ALMOST A HALF A BILLION SPENT.
Contrasting that with Tanbreez's experience is useful in evaluating GGG's management in both managing the ML process and in terms of managing spending.
Tanbreez applied and submitted an EIA. They used the same consultants that GGG has and is still using. It took a little less than 2 years to complete the EIA and cost just about 1million dollars to get it done. The Greenland government approved this first EIA submission, again in a little less than 2 years. Further, Tanbreez moved forward in the ML process submitting their completed ML application and the government recently released word that the Tanbreez mining license will be granted and issued by the end of 2019 or in early 2020. Total spending on the ML process to get to approval is 50,000,000.
So Tanbreez has been successful in all of its ML efforts and done so for 50,000,000. GGG has been unsuccessful with every aspect of their efforts to get a mining license, and they have spent or given away 469,000,000 to buy only FAILURE. They have failed to get anything of consequence approved in the ML process.
These are not subjective observations, They are facts. And these facts are important in judging management's actions.
I would suggest that MR Maier and his board's actions in this process demand that they be fired and replaced. Clearly they have demonstrated they do not know what they are doing. If anyone bothers to look at Mair's and the board members resumes you will see none of them have ever brought a mine into being and successful production
I am comparing GGG with Tanbreez because Tanbreez executives do have experience in bringing new mines into successful producing mines.
Again, We as GGG shareholders need to FIRE OUR FAILED LEAER MR. MAIER AND HIS BOARD and bring in people who know how to do what needs to be done.
This needs to be done urgently before the companies ability to fund a successful outcome in getting a mine approved and built is squandered by current managements continued wasteful spending. Wake up everyone please.
Ciao
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