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Greenland Resources Inc N.MOLY

Alternate Symbol(s):  GRLRF

Greenland Resources Inc. is a Canadian resource company, focused on the development of its 100% owned Climax type primary molybdenum deposit located in central east Greenland. The project also contains copper and magnesium. The project is an open pit operation with an environmentally friendly mine design focused on reduced water usage, low aquatic disturbance and low footprint due to modularized infrastructure. License 2018/11 covers an 82 square kilometer area north of Scoresby Sund in eastern Greenland that includes the Malmbjerg molybdenum deposit. The Proven and Probable Reserves are 245 million tons at 0.176% MoS2, for 571 million pounds of contained molybdenum metal.


NEO:MOLY - Post by User

Comment by ismandon Jan 04, 2022 10:26am
133 Views
Post# 34281400

RE:Ismand good to have some company here

RE:Ismand good to have some company here

and there are other moly projects to mention, all have their own issues including the ones u mention, low grade, ski resorts / towns near by, First Nations lands,  lots of capex to restart operations , current producers running out of reserves, not reliable social and environmental sourcing, tax disadvantage with cross border buyers, etc..  I think chances for this project to become a mine look good but will depend on the quality of the ore body (i.e., grade, deleterious elements), economics of the project and purpose in the market.  Quality is already a known variable in this project and is as good as it gets. Economics will be define in their upcoming feasibility study. Purpose in the market, socially will reduce significantly unemployment in a EU associate member country, environmentally, the ore body has very few deleterious elements so very clean processing and the EU parliament recently approved legislation to secure important mineral inside the EU that also include high social and environmental footprint for their EU Green Deal to reduce dependency of foreign supply and create EU employment. EU is second largest moly buyer in the world and has no moly production nor reserves. A similar disruption story like the biotech industry in Canada the EU is trying to avoid on securing in-house minerals for their Green Deal in what the World Bank and IEA say is an uptick demand and price green metals market for decades to come where three decades ago Canada was able to produce vaccines, they lost that capability and now they want to build it again so they don’t incur in foreign supply risk during disruption periods that has proven to be a very painful experience 

 

 

 

 

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