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Yes complete agree, we are being positioned as a key supplier for this new framework. You could reasonably expect the required financing being able to be repaid within 4 years of production if we can extract 100k tonnes in the first year and lift production each subsequent year, no problem. Our grades are high and with a heavy concentration, can we aim for the top of the current price guidance of $250pt? Dundas alone, this can generate $70m profit y-o-y for the next 20 and fully funds everything else.

If any of the other 3 projects in Greenland turn out to be significant in the minerals being targeted and at the size and grade potential that have been mention then we go into multiple billions mcap.

There is nothing but good news from this company for years to come.

It's great to feel confident in a stock. Another great 6 months of potential news incoming and that's after Dundas is signed off. We have 2 major projects that have been narrowed down to 20 drill targets for each, off the back of major historical and recent mapping and understanding. One of which has been explored by Rio of all companies since back in the '90s, which turned up massive grades. Drilling to get underway in the next month or 2 and we should expect initial results coming back for March surely? It will also be nice for Thunderstone to come back with an update and the next steps there.

Copper and Silver are 2 key minerals for the next 15 years, we have multiple targets and potential resources of both in Greenland. And then we have Finland, where we have a free ride courtesy of Rio, again. And, I think those licenses may have been old Rio ones too at some point, or at least they were in the same region. I might be mistaken though.

Rio for Dundas has to be nailed on? It would take a massive offer from someone else to stop this. It would have ramifications on our other projects so can't see them being anything less than a 70% offtake partner up to a million tonnes in 4 years time.

JP Morgan were calling for oil @ $60 a month or so back so no surprise. Really nice to see this push up to 1.7 and think I'll be cracking open some champagne is this goes to 2p. A good production update would be lovely before the year ends.

Succesful times to come

from RNS Aug 2017;

Taking a more technical view of the resource, the material at Pituffik sits in the same class as hard rock ilmenite. However, as a result of glacial (mechanical) erosion and favourable deposition centres along the coastal plain, the entire front-end capital expenditure associated with mining, crushing, grinding and concentrating has been done naturally, with the resource largely visible at surface along a coastal plain of >30km. This gives us a competitive advantage; firstly, it means we don't need to repeatedly drill and define the resource to identify and prove up the mineral potential in the way you would with other hard rock mining assets. Accordingly, we will be able to define a significant resource in a relatively short time frame, as evidenced through our aforementioned maiden JORC resource. Secondly, as the resource has been naturally "processed", it is already incredibly concentrated; up to 20 times the in-situ grades of other soon to be similar sized projects. This greatly simplifies the requirements on us in terms of how we mine and produce a saleable ilmenite product and will have a significant impact on the unit cost of our product.

What sense would there be in bringing him on as an addition to CB other than as a show pony? His salary requirements would take a sizable chunk of our cash, £2m will not last that long. We've already got the GGP geologist which is surely the most, if not one of, the most important hires in an exploration company? We are on the right track, if it ain't broken, don't fix it.

Yes it is solid. I was expecting a little more today but still very happy, they've done exactly what they set out and said they would do. Guess the rise is to come later this week.

Thinking of Rio's current PR crises with blowing up things they shouldn't in Aus, it probably does not bode well for a buyout in the near term.

Let's get the Disko started!!

If this is to settle at 20p, what caused the rise to 25p back in 2017? We have advanced significantly since then so fully expecting it to grow on that figure. Great volume going through today so far, not all trades visible.

New thinking for this, tired of being negative. Maybe silence is golden. Bought into this for the right reasons and fundamentally still the same. Looking forward to a great 2021.

GLA

I believe it is quite low now as they are pulling lots of gold out of the ground which is a big factor. They also seemed to start with near-surface mining but now going down past 1500m. We're on the beginning of a great 2021.

Thank you. I'm definitely not a trader but might try and maximise my share ISA value but I've got a feeling that this whole week coming the price will rise day after day so there may not be a reasonable opportunity for this. I'm keeping tight on my SIPP shares of JAY as agree with all on here that the next 5 years should be outstanding.

I'm struggling to agree with the brokers' valuation for this company though, a target of 21-30p seems quite ridiculous given the value Dundas offers alone.

I've noticed recently of a few larger players coming to GL and buying out existing license holders, definitely an area of intense interest and some favourable political positioning too. All bodes well.

Jinkar & Schlemiel - Do you have a view as to what this might spike to on Monday and what's your thoughts on the offtake being announced the same day? I believe the major offtake partner was also interested in providing finance for Dundas so we might have 3 major pieces of news quite quickly. It would be nice to see that we had customers who have committed to 500k tonnes per year at a price of anything around $200+

I'm still thinking that we may get an offer on Dundas from Rio now that the license is in place. The value in the ground of 117mt is around $23bn minus ASIC, which is claimed to be potentially the lowest around. A major JV or a sale of around £1-1.5bn can now not be too unrealistic.

Fantastic news!! Start of something quite amazing I hope. Excited for Monday. Expect an offtake agreement to follow in the days after.

Here's hoping but I would think you'd need around 600,000 oz for that figure to be close given that we will probably end up with 40% or less of the value in the gound as our share. The AISC as you say is key, it's pretty deep the deposit. ECR/CB recently mentioned figures of multiple million oz's, I'd settle for just the 1million so start with!

GGP is a hard comparison too, they've hit 100mtrs plus multiple times of high-grade payzone, that's a once in 20 years find I think.

For an mcap of £320m what would that need to equate in resources in the ground, or what would need to be committed to in a JV spend in yr 1 for this to be achieved?

I've seen JAY sign one with Rio in the last month with a commitment of $20m over 9 years, $5m in the first year. Building from 51% up to 75% ownership in their favour. Different type of resource ( predominately Copper) of course but this moved their SP by 3p. They have a mcap of £120m ish with 970m shares in issue and the value on their JV Finish license valued around $20m out of the £120m

For the mcap to raise 15+ fold what time scale would you propose on this? It doesn't seem it can happen any quicker than 6-12 months time. On Creswick only of course.

There must be over 100,000 mining companies across the world, the fact that we have 3 as clients says nothing at all. I would bet there has been next to £0 sales in the last 6 months that we don't already know about and looking back at the list so happily provided by 9Nails we can use that as a yard stick if/when we get an end of year update. I think there were around 20 points he made, if we hit 5 or less we have big problems.

In terms of breakeven, there is no chance that this has happened, even with the fact that we don't employ professional people.

It may be the right time to look for a buyer of this company as the current set up is not working. Always a punt and can't belive that I've now bought into this company 3 times, I must be mad!

Expecting a decent week here. Looking over the RNS's for the last 3 years and every time they update on Total Voting Rights, 9.5 times out of 10, there is good news to follow in the coming 7 days.

I also think the change of government leader is a good thing as I've seen it said that no one really wants to be the one who signs off on these type of works, they'd always rather someone else had made the decision in case it goes wrong.

No, it doesn't seem so. I was a bit concerned a few months back that they'd miss it but happy enough they've achieved it before the year end.

For next years exploration plans, do you think he'll do another round of fund raising?

4,000 per day is at the lower end of what they were forecasting last year to increase to this year. They then expected to jump another 50% in 2021.

thanks. Then 2,000 boed @ $3.5 (new govt rate) = $2,555,000 per year from gas?

I'm confused, is a BOE not calculated as the same as a barrel of oil? Meaning 4,000 boepd @ $42 = $61,320,000.