The thing is...

This decision should not be a surprise, and think we all kind of knew deep down the trading halt was not because of any great news forthcoming. The rejection is in line with the position of the current GoG. Some would infer, and I was of this thinking some years back, that the China link is behind all this. But I doubt it is as significant as some make out but could be one influencing factor.

The main issue of course is we are faced with a Government that is anti mining (some would argue anti GGG) in Greenland and they have sought expert council on how to wriggle out of granting a license to GGG. Once again the spectre of Uranium reared its head. They have been advised well. By setting this ppm rule they have effectively called check mate on GGG. As they are the GoG that is their prerogative and they can give legitimacy to it by citing the environmental interests/impacts etc etc.

We cannot dismiss the influence from Denmark - did this expert guidance, rule setting/edict come from Denmark, the US - under pressure to meet environmental objectives. A global green movement is gaining momentum - Greenland is significant because it is a tangible barometer for change in the world with much focus at the moment. We cannot understate how environmentally sensitive this region is. The granting of a mining license to GGG would basically open the floodgates to mining in Greenland, to the green advocates this would be unthinkable.

Difficult to foresee what the eventual outcome is going to be here. I am disappointed with the whole thing but have been forced to see the bigger picture at play. It was always a risk which seemed to dissipate with time, hard work and with every hoop GGG was forced to jump through. But the tables were turned one again, a new government and a changing of the goal posts.

I would sincerely hope at the very least that GGG is able to receive recompense for all the time, money, hard work and good will they have demonstrated over the years. It is a sorry episode that should serve as a warning to others - perhaps that is the intention. Greenland is a completely different kettle of fish by virtue of its geography and environmental and geopolitical sensitivity. The ice is melting and the sharks are beginning to circle. One thing for certain, the GoG is not acting unilaterally, they are being advised every step of the way as to the rules of engagement here. GGG could be a mere casualty, a bystander in the bigger scheme of things and considering the heating up competition for resources that is a big scheme.

Who knows, maybe there will be another favourable outcome for our GGG, something we never expected or saw coming. Expect this to rumble on for some considerable time - years possibly.

As an investor, I will keep my stake in and watch with interest. Real shame as things were really looking up for this company not so long ago. Shocking turn of events has lead us here.