From KNR just now, 24 May.
I would say ETM is frustrated with the arbitration process.
Will this case now shift to The Hague?
Having cash ($12/share, maybe) isn't a bad option.
A company announcement should immediately follow.
"Mining company takes the Government of Greenland to court over refusal. Although the summons does not come as a surprise to the Government of Greenland, they are frustrated that Greenland Minerals does not respect the Uranium Act. Greenland Minerals A/S has sued the Government of Greenland. They do this because the Government of Greenland has rejected an application for an exploitation permit at Kuannersuit/Kvanefjeld .In 2007, Greenland Minerals received permission from Denmark and Greenland to investigate the possibilities of establishing a mine in the Kuannersuit mountain in South Greenland. But this was put to an end when a majority in Inatsisartut decided in 2021 to drop plans to extract rare earth elements in a new mine in the Kuannersuit mountain. Something that the Attorney General has estimated could end up costing the Treasury a large amount of billions. Read also: Mining company now threatens compensation on 19 years of block grant: But Naalakkersuisoq still has ice in his stomach. On 1 June 2023, the Government of Greenland rejected Greenland Minerals' application. It was in violation of the uranium law. This is what the Ministry of Business, Trade, Mineral Resources, Justice and Gender Equality writes in a press release. Lack of respect:The Government of Greenland is not surprised by the summons.- Although the summons was expected, it is of course a great regret that Greenland Minerals A/S does not respect the uranium law and its scope. The Government of Greenland has followed the law, which is expected and to which we are obligated, says Naalakkersuisoq for mineral resources, Naaja H. Nathanielsen in the press release. In addition to the Government of Greenland, Greenland Minerals is also suing the Government of Greenland, the Chairman's Department, the Ministry of Industry, Trade, Justice and Gender Equality, the Ministry of Agriculture, Self-sufficiency, Energy and the Environment, the Mineral Resources Agency and the Environmental Protection Agency for the mineral resources area. Read also: Expert on arbitration case: - The Government of Greenland should be very concerned. In addition, Inatsisartut and the Ministry of Climate, Energy and Utilities are also involved. It frustrates Naaja H. Nathanielsen that a Danish ministry and Inatsisartut are being sued because of a decision made by the Government of Greenland.- The sole purpose of this is to create unrest and impose a financial and administrative burden on institutions that are not relevant to the case. It is calculating and says everything about what company they are and how little respect they have for the country where they want a mining permit, she says."
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