The Company also wishes to note that the closing spot price for Molybdenum on
Highlights
NI 43-101 Definitive Feasibility Study completed, and SEDAR filed on
Terms of Reference (ToR) for the Environmental Impact Assessment (EIA) and Social Impact Assessment (SIA) approved by the Government of
Revised version of the Navigational Safety Investigation report submitted on
Nearly eighteen months of recent field work EIA studies correlated with over thirteen years of extensive historical environmental data in the area where the project is located is now completed
SIA data collection was completed and extensive regulatory informative meetings with stakeholders in
The Company plans to submit the EIA and SIA to the relevant authorities within the next few weeks and will commence the regulatory review process, followed by public consultation, White Paper, and final EIA / SIA
Dr.
Furthermore, assuming our Feasibility Study base case model of
Environmental Impact Assessment
The studies relating to the EIA process were conducted by WSP Danmark A/S according to EIA Guidelines on the process and preparation of EIA report for mineral projects. WSP is a company with significant experience in the preparation of EIA studies in
The EIA related activities concluded over eighteen months of continuous environmental investigations, reviewed and correlated with extensive historical data available generated in the past thirteen years in the area where the Project is located.
The environmental program included sampling of lichens; survey of freshwater, water and sediments; registration of freshwater macro-invertebrates and Arctic char; botanic transect surveying; collection of marine fauna samples; remotely operated vehicle marine underwater video for mapping habitats; bathymetric survey using multibeam sensors; set up of two weather stations; collection of meteorological ocean data; a distribution map for Muskox and Polar Bears, and field observation studies of birds and mammals. Collection of data was from monitoring stations installed in the
In addition, the Company and WSP conducted various programs including ice radar surveying on the glaciers to assess ice thicknesses along the planned mine access site, seismic refraction surveying to determine overburden layering and bedrock information at the port facilities, the process water storage location, and at the tailings management facility (TMF) site, a site reconnaissance by land and air of the area to confirm planned facilities locations.
The various field programs that led to the collection of EIA data included coordination with various logistic providers, customers as well as regulators.
All the collected information has subsequently been analyzed with results currently being documented in technical background reports. The technical components of these studies will shortly be submitted to the
Social Impact Assessment
The studies relating to the SIA process have been undertaken WSP Danmark A/S according to SIA Guidelines on the process and preparation of the SIA report for mineral projects. WSP is a company with significant experience in the preparation of SIA studies in
The technical data collection is concluded, and a report will be submitted shortly to the regulators for review. The report includes results of extensive meetings with stakeholders conducted and documented during the months of November and
During the approval process, both the EIA and SIA may lead to modifications based on comments received from regulators and the consultation process and will aim to be consistent with the approved ToR EIA/SIA.
Qualified Person Statement
The news release has been reviewed and approved by Mr.
About
About Molybdenum and the
Molybdenum is a critical metal used mainly in steel and chemicals that is needed in all technologies in the upcoming green energy transition (
Forward Looking Statements
This news release contains 'forward-looking information' (also referred to as 'forward looking statements'), which relate to future events or future performance and reflect management's current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'hopes', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the Company's objectives, goals or future plans, the Company's environmental and social assessment studies, results of discussions with stakeholders, future consumers, and other parties, and changes to the Company's plans as a result of such discussions, the Company's relationship with local communities, the Company's permitting process for the Project; statements, exploration results, potential mineralization, the estimation of mineral resources and reserves, and their valuation, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions.
These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: the results of EIA and SIA reports on the Project being positive and allowing the Company's current plans with respect to the Project to be carried out; obtaining the permitting on the Project in a timely manner; no adverse changes to the planned operations of the Project as a result of the EIA and the SIA; continued favourable relationships with local communities; current EU and other initiatives remaining in place into the future; expected demand for molybdenum in the EU and abroad; our mineral reserve estimates and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the technical studies; estimated valuation and probability of success of the Company's projects, including the Malmbjerg molybdenum project; prices for molybdenum remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner or at all; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the successful completion of the SIA and EIA, and favourable results from such; favourable local community support for the Project's development; the projected demand for molybdenum both in the EU and elsewhere; the current initiatives and programs for resource development in the EU and abroad; the projected and actual effects of the COVID-19 coronavirus on the factors relevant to the business of the Corporation, including the effect on supply chains, labour market, currency and commodity prices and global and Canadian capital markets, fluctuations in molybdenum and commodity prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the
These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume any obligation, to update the forward-looking information. Neither the
Contact:
Gary Anstey Investor
Chief Financial Officer
Corporate office Suite 1410
181 University Av.
Telephone: +1 647 273 9913
Email: info@greenlandresourcesinc.com
Web: www.greenlandresources.ca
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