Dundas7 Apr 2021 14:00
It is worth reminding ourselves that we have an EIA and an SIA in place granted as a precursor to the grant of the exploitation licence.
Although I am probably repeating some of the comments already posted, the party who has the most seats has received backing from voters because of the Kvanefjeld mine and its uranium constituents. Some of Bluejay's investors do not comprehend that many of the Greenlandics are country folk - many fishermen - and they do not think or live like we as Brits or westerners understand. Also like Denmark it is a country operating under socialist principles -although a trite comment the opinions of people matter. When Bluejay's Thunderstone project was initially announced there was reference to uranium in the announcement and I went "OMG" for I was aware of the sensitivity that Greenlandics had towards uranium. They are perhaps more sensitive than the locals in Spain have towards the Berkley Energia (BKY) mine. The reference was quickly removed. Also whilst in the early days Rod McIllree prided himself on the fact that whilst in charge of Greenland Minerals he had led the overturning of the ban on uranium mining, if you study the profiles of him and Mike Hutchinson (erstwhile chairman of Bluejay) there is no reference to uranium in their profiles.
Some Greenlandics still remember the crash of a USA bomber in the waters near the Thule base and the fact that a bomb was within that plane.
And so my personal opinion is that there is no chance that the Kvanefjeld project will ever get an exploitation licence.
Bluejay has such a licence for Dundas and there is no uranium associated with the ilmenite bearing sands. Are the Greenlandics against mining per se? - no. As I understand their thinking, there is still a desire for independence and I guess that many realise that to make up the shortfall which would arise from the absence of Danish subsidies upon independence, fishing will not do it alone - hence the potential benefits from a successful mining programme. But that imo will not include Kavanefjeld.
It is also worth bearing in mind the investments in Bluejay by the Greenlandic and Danish funds not that long ago.
But it will take time for the funding for the Dundas mine to fall into place. We still have Covid with the restrictions that that entails. There is still work to be done. But my estimate is that the Dundas mine will be built which will offer employment to younger Greenlandics and it will be profitable for investors.
Also one does not know if a left field transaction out of the blue will be signed off and announced relating to one of the other licences which Bluejay holds. In the meantime investors should take some comfort from the fact that normal fees payable for holding exploration permits are on hold which assist with cash flow.
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