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Dear Mr. Mair! I'm writing to you on behalf of a group of private investors from Greenland Minerals. We have organized together hoping to create an effective channel for communication between retail investors and management. Many of the shareholders - like me - are true believers in your story and have been holding shares for many years. Representation has been self-reported as approximately 1,5% of the shares; the shareholders come from a german Bullboard. First, we would like to congratulate you on your great work in optimizing the project value and managing different stake holders. Collectively, we have prepared the following questions: Economics: ⦁ The FS and the Kvanefjeld mine plan currently covers only 100mt of 1000mt of REE containing rock. These 10% of the total resources are proven reserves in the indicated or measured category and are sufficient for 37 years of LOM. In total there are already about 440mt proven resources in the measured or indicated category. Why is the share of reserves so low? Are there any ambitions / possibilities to increase the processing rate of the mine of 3 mt / year over time financed by cash flow of the ongoing mine? ⦁ On 21.08.2018 Greenland signed a MOU with Shenghe. The parties agree to conclude a binding agreement on product offtake within 3 months from the mutual acceptance of the Kvanefjeld optimized flowsheet. Has this flow sheet been completed and accepted by both sides? (announcement 29.03.19). Are there any preliminary contracts, in particular to explain the 'arms length' methodology? Organization: ⦁ What are the possible ownership interest scenarios of Shenghe? Above all, how high - and under what conditions - could be the maximum participation? Are there any preliminary agreed conditions to increase the share interest of Shenghe? Geopolitcs ⦁ Denmark is a member of NATO. With Shenghe, the US has the official China practically on its doorstep. In the further the trade disputes between China and US could at least limit the export of rare earths into the US. It seems unlikely that the US watches a chinese company to settle on the west coast of Greenland, to mine rare earths, boycotting the US market and the United States remaining passively. Geo-strategically, Greenland belongs to the sphere of interest of the US and NATO. What are the inherent risks and how do you manage them? ⦁ Do you think it is a real possibility that Europe will appear as interested offtaker? Are you open for significant European Distribution Agreements? What are your thoughts about "geographically distribution", concerning potential Future Kvanefjield Production? Some thoughts and explanations would be nice, also to this Whole "Geo strat" Issue. ⦁ The problem and reason for delaying the approval process could be the mining of uranium. The influence on the approval process by international NGOs is inevitable. How long are you expecting the delays - which inevitably exist - to go on? What is the mood for the partial extraction of uranium among the native population? Regarding NGOs, a risk assessment, would be very helpful. Are there already connections or agreements? Can you give us some insights relating developments in terms of IAEA and the JV from Sheghe with CNNC? Others: ⦁ In Germany some media articles were published, concerning planned changes from Authorities in Greenland. Are there incentive/tax changes for mining companies? I guess in overall picture, these measures are especially to see in context that Greenland "has started to develope Something", in Resources, and trying to make the country more attractive for foreign (direct investment) companies. Seems the results should be released q3, latest q4, this year. Have you already heard, are you aware, of these proposed measures, legislative changes? And if so: Do you already have an imagination - what potential implications, consequences - it could have for Kvanefjeld? I thank you in the name of the Investorgroup in advance for taking the time to get more insights about the whole topic. xxx on behalf of the Greenland Minerals Investor Group |
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| aus der Diskussion: | Greenland Minerals -112Mio lb U3O8 Inferred |
| Autor (Datum des Eintrages): | peterhuber91 (06.06.19 10:52:32) |
| Beitrag: | 4,758 von 7,493 (ID:60747135) |
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