Member Info for IvRoche

Use this link... Miena Desgagnes (zoom out on the map). Ship is anchored in Moriusaq.

https://shipinfo.net/vessels_map.php?imo=9700380&mmsi=316014740&hours_ago=336#to_map

Massive find Bob... That's the ship!!

Some AIS have it off the coast of Canada yet to cross Baffin Bay (some sites report it had gone dark, out of AIS coverage, for the last 16 days). However, I have an AIS that puts it anchored in Moriusaq!!

Gold futures just crossed the 4,100 mark...

There in lies the question...

IMO even with an ice-class ship, a winter run from Canada to Dundas (NW Greenland) to Jameson (East Greenland) would be a non-starter. East Greenland’s fjords are locked in ice by then - only nuclear icebreakers can get through, and that’s research-grade, not commercial.

If they miss this window, the first window to sail heavy kit to Jameson is summer 2026 when Scoresby Sund opens up again.

Ice dictates the schedule, not intent or funding.

Yep, no one is doubting that Haliburton have been engaged along with IPT Well Solutions that's been shared along with the plan of operations. However, without confirmation of plan execution i.e.,

1.) Ship enroute - ship was due to depart on the 21 Sep, no ships headed (Desgagnes class or otherwise) for Greenland from Canada based on AIS over the last month for the 10-12 day voyage

2.) Equipment to JL, incl. a pickup of bulldozer and accommodation from Dundas, to commence setup / works.

Execution and logistics don't happen by magic...

We need a RNS re: mobilisation / shipping to Jameson Land without that, as I have posted we miss the window due to sea ice and access.

The tungsten-copper-zinc skarn that could quietly be worth billions.

The Numbers (historic data)

54 Mt @ 0.35 % W = 189 000 t tungsten metal. That’s one of the biggest undeveloped tungsten resources in Australia. Tungsten’s now classed as a critical mineral in the West – supply is tight, 80 % comes from China.

Back-of-the-envelope value:

75 % recovery - 142 000 t

Price ≈ A$62 000/t (US$40 k)

Gross metal value ≈ A$8.8 b

After mining/processing (≈ A$11.5 k/t), A$7.2 b operating cashflow potential

Discounted 8%, post-tax - ~A$2 b NPV ≈ £1.45/share optionality

Why it matters

Only 10 km from Telfer – infrastructure synergies.

Strategic metal – potential government or partner support.

Adds a third commodity leg (W + Cu + Zn) beyond gold/copper.

Could be spun-out or JV’d once Havieron/Telfer cashflow stabilises.

Because Iceland make more sense if they are going later than mid October. JL (near Ittoqqortoormiit / Scoresby Sund) sits on the east coast of Greenland, directly across the Denmark Strait from north-east Iceland.

The distance between Akureyri (Iceland) and the Scoresby Sund fjord is only about 400–500 km roughly a one / two-day sail in open water.

By comparison, sailing from Canada (Halifax, St. John’s) is 2,500–3,000 km and takes 7–10 days each way through far harsher ice and weather.

So logistically, Iceland is simply the closest reliable port that can handle staging for East Greenland.

Yep it's definitely easier to drill in Winter no disagreements but they need to have the equipment there accommodation, bulldozer, drill rig etc etc etc and the window is closing....

If they don't get a move on then there will be no drilling / Spud in Q4 2025 / Q1 2026... not because there’s no intent, but because of simple Arctic logistics.

The Jameson Land concession sits in East Greenland, and the sea-ice window there is incredibly narrow - roughly June to late September. Once November hits, fjords around Ittoqqortoormiit and Scoresby Sund start freezing over fast, meaning no shipping access until spring unless you have an expensive ice-class vessel.

That means if heavy kit (rigs, fuel, bulk supplies) isn’t shipped by mid-autumn, mobilisation has to wait until the next open-water season - realistically Q2 2026.

Now, layer in the Pelican / March GL / Greenland merger that’s due to close in Q4 2025. That’s the key funding event - it converts March GL into Greenland Energy (Nasdaq: GLND) and releases the capital needed for the drill programme. But even if the merger completes in December, it’s too late to sail.

So the likely sequence looks like this:

Q4 2025 → Merger closes, capital released.

Q1–2026 → Equipment procurement and shipping prep

Q2–2026 → Mobilisation window (vessel from Canada or Iceland to Greenland)

Q3–2026 → Drilling and fieldwork during the summer season

Could tie in nicely with a JV and announced drilling campaign timing for Disko (which would also be around Q3 2026 if they get the right partner) - now that would blow the doors off the SP.

While 25 - 30p would be amazing, that's a market cap of 1bn to 1.25bn, sorry guys can't see it until we have some delivery or results but even then would say mid single digit pennies. Let's see how it pans out.

Yep sorry, a bit dyslexic on that one should be 160 - 180m

Phase I - DMS

Offtake term: 4 years (guaranteed).

LOM: ~5 years (assuming no extns to current resource)

Phase II – Flotation Plant

Offtake term: Hainan holds FRoR.

LOM: ~15 years (will go beyond 15years post MRE update 50mt maybe more int total)

Funding: Expected to be financed from Phase I cashflows, supplemented by potential follow-on investment from Hainan or project-level debt, with estimated capex in the US $60–80 million range targeted for 2027 construction after 18mths or so production of Phase I

“Too complex”? Come off it, Joe.

The only thing tangled here is your timeline. Birimian’s deal collapsed in Jan 2017; Kodal’s Suay Chin deal came months later as an offtake, not a takeover.

Two different companies, two different stories — but nice try merging them into fan-fiction.

It’s funny how someone who bought at 0.83p suddenly finds the hours to “research” conspiracy threads instead of the company he invested in. Those hours could have been used for DD instead of sitting on a 60-odd percent paper loss.

Joe - your links are about Birimian/Goulamina (a and a later Sinohydro MOU. None of them show Suay Chin took a “blocking stake” to bid for Kodal. The Kodal RNS from 3 Nov 2017 spells it out: Suay Chin paid to 20% for offtake rights (80–100% for 3 years) + ROFR, plus one board nominee - that’s supply security, not a takeover set-up.

Since then Kodal terminated Suay Chin’s ROFR and moved the project under the Hainan JV, which has US$100m at project level and now holds the offtake priced off market indices.

Birimian ≠ Kodal, and offtake/ROFR ≠ “blocking stake for a bid."

I will go get a tinfoil hat.

Face-palm...

Joe, that “blocking stake takeover” theory doesn’t hold water.

Suay Chin’s 20 % stake was never about control - it was to secure offtake and give Bougouni credibility when lithium juniors couldn’t get financed without a buyer. That’s why their deal dates back to 2017.

Hainan is the equity JV partner and project co-owner; Suay Chin are just legacy shareholders with no seat at the table.

It sounds dramatic, but there’s nothing in the filings or RNSs to back your version - it’s just another bit of chat-board folklore dressed up as fact.

P. s. Laverda is right.

My god you are literally insane 🤡🤡

Accuse others of what you yourself are guilty of... 🤡

🤡

It's a loan... Not an emergency loan - your lack of knowledge on literally everything never ceases to amaze but we'll done for correcting your mistatement on the size of the loan. Now how about your mistatement on attending the AGM - Are you going to own up to that?

Why it’s not “emergency” loan:

1.) It was announced before export delays — part of the original JV funding model.

2.) There was no distress trigger; rather, it was meant to ensure liquidity through commissioning.

3.) Kodal still had JV cash reserves at group level and Hainan had already funded equity tranches.

🤡🤡🤡