Description

We have been mandated to sale the mining rights of our client in Greenland and Iceland. Our client has been granted nine exploration licenses in Iceland, and two in Greenland covering an area of approximately 1570 km2 with exploration license due to expire in 2025 and it consists of 12 exploration targets: 3 hematite targets with direct shipping ore (DSO) potential and 9 further magnetite targets.

Groundwork and geophysics have revealed the presence of a 19km iron formation with low deleterious elements and research commissioned to SRK consulting in 2012 estimated the exploration targets tonnage to be between 158 and 474 million tonnes.

Although potential iron ore projects/mines are plentiful worldwide, lack of adequate logistical connections, community nymbyism and government interference can pose considerably threats to the profitability of these projects. Contrary to that, our client’s Iron Ore Project offers immediate deep water access to DSO. Furthermore improved logistical access to remote areas, government incentives to encourage exploration and the retreating ice cap, exposing additional ground every year, have resulted in an unprecedented growth of foreign investment into Greenland.

We would be happy to send you the expert’s report and other presentations available if interested.

Posted Aug 27, 2014

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