I already weighed in on that one. But to build on the idead I floated in one of my posts a while back, seems evident to me that neither the GGG side nor the Tanbreez Mining Grenland A/S side would want to dilute their ownership positions over either of the 2 tenements. Then there is the question of how to cut the locals &/or GoG in for a part of the action as a sweetner, but without giving either of the project away.
So wnat I was suggesting --- in case it wasn't clear (re-reading it I don't think it was that clear) --- is that the two corporate entities get together to register a new PRIVATE company under Australian Companies law. In the "Memorandum" part of the constitution they define the new company's mission as being the exploitation of the 2 tenements and sale of the material extracted. In the "Articles of Association" section they create several classes of share. Preference shares to define who haswhat priority rights over dividends (ie.profit distribution), differential voting shares to determine who exercises control over decision making and in what proportion, maybe non-voting or limited voting shares too for new financiers so control does not ever slip out of those hands already mentioned.
Thus the rights of all parties are "ring fenced" whilst the ownership rights over each of the tenements does not change at all. GGG continues to 100% own Kvanefjeld and Rimbal Pty.ltd via Tanbreez Greenland Mining A/S continues to 100% own the Tanbreez tenement. The locals own a part of the new entity only and control its activities in proportion to their voting rights as per the above capital framework plus a concomittant right to a part of the profits. At the same time the new entity --- maybe we could call it Greebreez
or even Tanland
--- could own (or lease) the necessary equipment port facilities have a common administration sales people etc. etc. thus reducing the capital requirement and (maybe) even the environmental footprint depending on how far the sharing of common facilities between the 2 projects was taken.
Just the skeleton of an idea that would need a lot of thrashing out in the unliklely event that anybody decided to pick up the idea.
