Member Info for observer842

@Frankie - I hold, and will continue to invest based on the short term progress of Amapa. Unfortunately, recent iron ore related news isn't filling me with delight.

I hate to break it to you @news but my understanding from the news release below is that the 2-3km of the 18km micro-kakortokite dyke lies in licence area 2012/15, which we let lapse. But here is a thought that might cheer you up. Why did we let 2012/15 lapse and not 2013/20? I have no idea what's in 2013/20 by the way. I don't think the results were ever published (ta da)

"Initial TREO results from Greenland." (04 August 2014)
http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=1255015
===[
SRK Exploration Services Ltd. ("SRK ES") had previously undertaken a structural interpretation on behalf of Rare Earth Minerals plc ("REM") in order to generate exploration targets within REM's 2012/15 exploration licence. This was carried out using stereo aerial photographs and an automated 3D viewer facility at the Geological Survey of Denmark and Greenland ("GEUS").

Following this structural study, SRK ES concluded that a range of targets are worthy of exploration within REM's licence 2012/15. These targets include a micro-kakortokite dyke of significant width (10-30 m) in the northern part of the licence that may have Rare Earth Element ("REE") potential, given its similarities and possible association to lithologies found at nearby world-class REE deposits.

We are reporting today on the analytical results for 10 samples collected from this micro-kakortokite dyke. Four samples exceed 2,000 ppm of TREO with the highest being 2,887 ppm TREO. These grade are similar to those found at the 4.3 billion ore tonne Tanbreez deposit owned by TANBREEZ Mining Greenland A/S which lies approximately 2 kilometres to the south west of REM's concessions.

This micro-kakortokite dyke lies immediately south of the ilimaussaq complex which contains two of the largest REE element deposits in the world (Tanbreez and Kvanefjeld). This dyke has the same source rock as these deposits and has a strike length of 18 km of which approximately 2-3km is exposed on REM's exploration licenses.
]===

Thanks @CHRH. The 2019-2023 Licence period is in section "I. EXPLORATION LICENCES (EXCLUSIVE) AND PROSPECTING LICENCES (NON-EXCLUSIVE) FOR MINERALS APPLIED FOR WHICH ARE BEING PROCESSED AS PART OF PREVIOUS APPLICATION BATCHES" of that page

According to https://portal.govmin.gl/license there are 4 licences under review, with Expiry Date's between 31-12-2018 and 21-05-2038

Thanks @CHRH. For what it is worth, the licence at the top of the page 2013/15 is:

https://portal.govmin.gl/license/688

and that one has the same Expiry Date as ours 31-12-2018 , but has Status Under Review, rather than Active. Does that mean ours was in Review but is no longer or that theirs is currently under review, and ours will be soon?

Thanks @CHRH. it is classed as an Active Licence:

https://portal.govmin.gl/license/702

but its Expiry Date is 31-12-2018.

@news. That's interesting. I didn't realise you were that passionate about Greenland. We've got Rare Earths in Yangibana if that is an consolation? I wonder how many others are thinking along the same lines? It won't be great to lose the Greenland licence, but my focus currently is on Amapa and I'll be investing based on that short term.

I'm trying to prepare myself for no!

Apologies about that! Hopefully we'll find out in the September update. Presumably the BoD will find out beforehand though. They may even know now?

My question was an attempt at a joke based on how much you wrote. I don't know any more than you do, but I do worry we might have lost it on a technicality - why so long? Maybe we are in appeals already?

@news Does that mean you'll be disappointed if we don't get our 100% Greenland licence adjoining Kavanfjeld and in close proximity to Tanbreez extended for another 5 years? ;-)

IMHO it's going to depend hugely on whether we (finally!) get lucky with our latest venture - Amapá. There's been a pull back in Iron ore prices the past few days after the sustained rise over the past few months. I'm hoping for a rebound as we start to sell, potentially as earlier as Q4 this year. DYOR.

Neither of your links worked @news, but I got there in the end:

"Three Rare Earth Projects That Might Be Flying Below Your Radar (Part 2 of 3)" (Sep. 3, 2013)
https://www.adamasintel.com/three-rare-earth-projects-part2/
===[
May find synergies through co-processing agreements with neighboring projects

In the Tanbreez project’s favor, we believe, is the fact that two of its most geographically-proximal peers (Kvanefjeld and Norra Kärr) are also aiming to produce REE-bearing concentrates, thus TMG may find opportunities to piggy-back on future processing agreements that either of these projects enter into. For example, the Norra Kärr project aims to produce a mixed rare-earth carbonate from its eudialyte-rich ores, thus the ultimate off-taker of Norra Kärr’s product may also be interested in the similar (albeit lower grade) feed coming from Tanbreez. Admittedly, this is a speculative scenario, but highlights the premise that TMG’s larger neighbors may ultimately be boons instead of burdens.
]===

In terms of Greg Barnes and GGG, my apologies , I didn't realise you were talking about the past. For the record according to page 69 of the 2018 annual report the largest holders are:

https://www.ggg.gl/assets/Uploads/Annual-Reports/444de82923/2018-Annual-Report.pdf
===[
Shareholder Number Percentage
1. Citicorp Nominees Pty Limited 176,484,987 15.6%
2. JP Morgan Nominees Pty Limited 157,868,952 13.9%
3. Le Shan Shenghe Rare Earth Company Limited 125,000,000 11.0%
4. HSBC Custody Nominees (Australia) Limited 65,269,771 5.8%
]===

Ob.

Thanks @Ivybush! I'll feel all the more comfortable discussing Greenland when (if!) we get our licence extended another 5 years. Here's a recent interesting 10 minute talk from GGG:

"Greenland Day (PDAC 2019) –S2P2: Kvanefjeld rare earth project by John Mair, Greenland Minerals Ltd" (20 Mar 2019)
https://www.youtube.com/watch?v=-S2VBTb8I60
===[
Presentation on the Kvanefjeld rare earth project in South Greenland by John Mair, Greenland Minerals Limited.
The presentation was held at the annual Greenland Day event during the PDAC Convention 2019 in Toronto, Canada, on 4 March 2019.
]===

We are mostly to the left of the plain he is talking about in the view on the slide at 4:05 minutes in.

Not sure @Barksy.

@news. Have you a link to the Adams Intel article? Also, I'm not sure why you are insisting Mr Barnes is the largest shareholder of GGG. I see no evidence for this. Links would be greatly appreciated.

Looks like we could be on the lookout for another broker...

"STOCK WATCH: 50/50 bet on HSBC share buyback may be lose-lose" (4 August 2019)
https://www.thisismoney.co.uk/money/investing/article-7317981/STOCK-WATCH-50-50-bet-HSBC-share-buyback-lose-lose.html
===[
SVS Securities
The travails of the old-fashioned stockbroker are well documented and another City firm appears to have bitten the dust.

SVS Securities, one of the lesser-known outfits, has gone to the wall, I’m told. Plenty of rumours are flying around over the reasons, but there has been no response from the company as yet.

Those who know the sector won’t be surprised. Nor will investors in SVS’s rivals. Shares in listed stockbrokers Numis Securities, Cenkos Securities and Arden Partners have all tumbled amid dwindling dealing commissions and a lack of deals at the smaller end of the market.
]===

Although the majority of our single (100%) licence is to the West of GGG's Kvanefjeld, technically it abuts Northern, Southern and Western boundaries of their licence. But not the Eastern boundaries as stated at:

https://www.cadenceminerals.com/projects/greenland-rare-earth/
===[
This license is on the eastern boundaries of Greenland Minerals and Energy Limited’s ‘GGG’ licences that encompass the world-class Kvanefjeld, Sørenson, Zone 3 and Steenstrupfjeld Rare Earth Element (REE) deposits.
]===

@news. Thanks for the explanations and answers. All the licences, owners, dates and locations can easily be seen on here:

https://portal.govmin.gl/map

We are:

"Rare Earth Resources Limited"
https://portal.govmin.gl/owner/442

and our licence is:

"License MEL 2013-20"
https://portal.govmin.gl/license/702

@news. We don't hold the licences near Narsarsuaq any more. Only the one at Narsaq

@news. Some points and questions related to your recent posts here and on KDNC.PL

1. Observation

"Mining rights in Greenland" (July 3 2019)
https://www.lexology.com/library/detail.aspx?g=3ead3dde-835b-416a-a36a-fd90bf4c6c5e
===[
An exploration licence is exclusive, precluding the granting of a similar licence in the same area to other parties. The exploration licence is granted for a period of five years and at the expiry of the first licence period the licensee is entitled to be granted a new licence for the same area for five years. Pursuant to the Standard Terms, at the expiry of the second licence period (years six to 10), the licensee may be granted additional new three-year licences for years 11 to 13, 14 to 16, 17 to 19 and 20 to 22 for the same area, wholly or partly, provided the terms of the licence have been complied with. However, the licensee is not entitled to have such licences granted.

During the licence period the licensee is obliged to spend a fixed minimum of exploration expenses per calendar year calculated as the sum of an amount per licence per year and an amount per square kilometre per year.
]===

Let's hope we've met the technical requirements to allow the licence to be granted for a further 5 years.

2. Query

@news Sat 19:11 "The Founder was not happy with the change of name to Cadence Minerals. Again, forward thinking?".

I don't recall DL being not happy with the change of name. Do you have a link?

3. Query

@news Sat 22:39 "Tanbreez is a private co owned by Greg Barnes, a geologist and a Perth family. The family also are the largest shareholders of GGG of Kvanefjeld fame."

Thanks for the various links. According to the GGG 2018 annual report (page 69) I can see no evidence of the Barnes Family Trust holding any shares in GGG. Do you have a link?

4. Observation

"Mining in Greenland - a country divided" (1 January 2014)
https://www.bbc.co.uk/news/magazine-25421967
===[
Standing by his side is a man with a white beard, wearing a battered red felt hat. Greg Barnes is chief geologist for Australian mining company Tanbreez Mining, and he's brought the minister here to pitch his plan to turn the mountain they're looking at into a mine.

"It is the world's biggest rare earth deposit, it's probably got 50% of the world's rare earth in it," he claims. "This is one of the world's top 10 mines eventually we think."
]===

5. Observation

"Raw Materials Potential of Greenland" (June 19, 2015)
https://ec.europa.eu/docsroom/documents/11438/attachments/1/translations/en/renditions/pdf

Very nice presentation!

6. Information

Despite what our website says, our licence is to the west (left) of GGG's Kvanefjeld. Also Tanbreez is on the adjacent fjord to the South (down) of ours.

7. Query

I've just seen your posting on KDNC.PL - can you not just post on here?

8. Summary

It's all very exciting, but I'm trying to contain it until we get our licence extended!

Ob.