RE:RE:New ArticleThe remaining funding of rubingruven in Greenland is soon to be in port. The company believes in the production start in late summer. The Canadian-Norwegian mining company True North Gems Greenland (TNGG) has been working hard to put in place the final piece of funding to get started with commercial production of rubies from the mine in Greenland Qeqertarsuatsiaat/Aappaluttoq. At the end of april, said Chairman of the Board in norskeide LNS Greenland, Gunnar Moe that "the money is just around the corner." The Norwegian company LNS (Leonhard Nilsen & sons) own 27 percent of TNGG. Very optimistic Managing Director of True North Gems Greenland a/s, Bent Jensen Olsvig under steaks now facing High North News that he is "very optimistic", and that one now is in a so-called due diligence process, a complete review of the company and the project along with an interested investor. -I am very optimistic, and this process goes very well, "said Olsvig Jensen. Gradual transition The company is missing 12 million Canadian dollars (about 80 million us $) to get over from the prospecting phase to production-something that is a gradual transition, according to Olsvig Jensen. -We are still working on a schedule that we are going to make the first commercial sale of rubies during the late summer, "said the Director, who did not want to reveal anything about the type of investor it is negotiations with. No contradiction In april announced the Canadian parent company, True North Gems also a collaboration with funding consultants to get Endeavour just in place additional capital. -The investor we are dealing with for TNG Greenland was on the track before the agreement with Endeavour, but there is no contradiction in this, clarifies Olsvig Jensen. -TNG, who is a prospecting or exploration company, investors need also to other projects. A total review A due diligence process is a complicated and bulky affair, where one goes through all aspects of the company, looking for any weaknesses, unforeseen costs etc., before eventually making an investment. -If it is an investment in the end, so it's also a good certificate or recommendation for us, says Bent Olsvig Jensen to HNN, but adds that for the mine in Aappaluttoq, this is the last capital supply one needs.