Gratefully,
Jacques IDS
Greenland Resources Inc. is a Canadian mining company focused on developing the Malmbjerg molybdenum project in eastern Greenland. The project targets primary molybdenum production with magnesium as a potential byproduct, positioning it to supply critical minerals to the EU amid China's dominance in the market. 100% ownership of the open-pit Malmbjerg deposit, discovered in 1954 and acquired by the company in 2017. A 2022 NI 43-101 Definitive Feasibility Study outlines US$820 million capex, a 33.8% levered after-tax IRR, and 2.4-year payback at US$18 per pound molybdenum, with proven and probable reserves of 245 million tonnes at 0.176% MoS2 (571 million pounds contained molybdenum). Annual production averages 24.1 million pounds over 20 years, rising to 32.8 million pounds in the first decade, covering about 25% of EU molybdenum demand. It has no revenue right now and losses and negative cash flow. The stock is doing well, and interest has increased along with the sector and the Greenland situation. We would consider it highly-speculative buy, but interesting. AMRQ is a (larger) company also with interesting assets in Greenland. CRML has seen giant gains already this year on renewed interest in the region.