You ask whether I am just throwing out issues to increase concerns among less educated investors?
Come off it! The state of the pit is critical for EPM's desire to start excavating.
Surely we should be looking for evidence that NAMA is maintaining the pit.
Take a look at https://www.namaltd.co.uk/projects-2/
NAMA says nothing about maintaining the pit. In 2012 it mentions a joint exploitation of the pit with Rimbal.Pty Ltd.
Evidently the ambitious plan did not go ahead, for some reason. It is Rimbal Pty Ltd that is now selling the pit to EPM - as reported to ASX on 14 January 2021.Ivigut – Greenland
March 2012 – Ongoing
A JV project with Rimbal Pty Ltd Australia. The project consists of a re-opening an old historic mine in Ivigtut south Greenland. The project is a Silica, fluorite and cryolite project as well as hosting REE. NAMA expects to lodge and exploitation application in 2016 in co-operation with one of the leading smelter groups in the world.
NAMA is responsible for:
- Design build and operation of the new mine
- Geological work
- Remodelling of existing resource models
- Feasibility studies on reopening the mine
- Environmental assessment preparation
- Social impact assessment preparation
- Field work and water analysis
- Reassessment of old drilling cores
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- The pit has been professionally maintain since 2012 and still going
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