Very hard to not see this project go ahead in one of two forms....

Very hard to not see this project go ahead in one of two forms.

Judging by January announcements and latest quarterly it appears more and more likely shipping of concentrate will win the day. When joining the dots it looks almost a done deal over the other option of onshore processing which has been met by strong opposition and has been hamstrung by that opposition.

The shipping of concentrate will appease all stake holders - devil will be in the detail however this will still be a win for shareholders.

As much as the Chinese would like to take full ownership the Greenland govt would strongly prevent such.

Greenland receive large royalties and a possible equity stake of say 10%. You see - now they have come clean on the concentrate grade and processing - this can happen going forward.

What GMEL benefit will be in the details but highly beneficial.

China - (Shenghe) will get what they want.

Govt and locals win with employment - environmental concerns allayed - big royalties.

Just a win - win - win - win solution.

The onsite processing is/has been the cause of all opposition from previous govt - locals and all the subsequent delays.