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clock Created with Sketch. 06/02/19
10:27
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Originally posted by bweerniedeed:
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This puts some perspective on the value of Skaergaard:In 2004 the mining company Crew Gold Corporation (“Crew”) was granted a licence to exploit the gold deposit at Nalunaq. The license covers an area of 16 km² around the mine site. Production commenced in mid-2004 and continued until the end of 2008. Over the period, Crew produced 308,000 ounces of gold. They operated the mine with sub-contract miners from Canada and, as they had no licence to process on site, they shipped mined ore to Newfoundland for processing. Rising oil prices and shipping costs made the economics progressively more difficult.
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They shipped mined ore to Spain?? Even at 1 oz/ton that seems like way too expensive an operation. There is no way Skaerrgard could go ahead without on-site processing into gold and palladium bars. The Greenland Govt would know that.
