Study on Arctic Mining in Greenland

As part of my due diligence (DD) and before I took up a major position in Conico earlier this year, I read the following "Study on Arctic Mining in Greenland" which was put together for the Finland Government's Ministry of Economic Affairs and Employment and which was published in November 2020:

https://tem.fi/documents/1410877/8582211/Study+on+Arctic+Mining+in+Greenland.pdf/567d6d96-b499-abf7-f51e-9cc7e8a98267/Study+on+Arctic+Mining+in+Greenland.pdf?t=1604913420537

As the report says:

The Arctic region has a huge business potential and offers many possibilities, but to some extent, Arctic
markets are not very familiar to most companies. It is therefore important to provide information about the
markets, their characteristics and the operating context. This report gives an overview of the mining market
and context in Greenland.

Mining activities have so far been limited in Greenland considering the potential. A relatively weak record
of mining activity appears to contrast with the metal endowment and existence of numerous mineral
occurrences and several world class mineral deposits.

Mineral exploration and mining in Greenland often occur in remote areas, usually far from existing
infrastructure. This necessitates expensive transportation and establishment infrastructure. The remoteness,
harsh Arctic climate and rugged terrain are negative factors often resulting in extra expenditures compared to
most other jurisdictions.

The many deep fjords in Greenland offer excellent opportunities for deep-sea port and shipping capacity. The
social license to operate is in general very favourable in Greenland, and an ambitious new mineral strategy
can be instrumental to attract new investments to mining in Greenland. Currently, Greenland is undergoing a
phase of rapid development, and large government-funded infrastructure projects are in progress including
new airports.


Particularly at this point in time, every potential investor in CNJ should read this study as part of their own DD.

Cheers.