- Major Precious Metals (SIZE) has provided an update on its mining and exploration activities in Greenland
- The company is planning a large diamond drilling program on its Skaergaard Project starting in late June to early July
- The Greenland Mineral Licencing and Safety Authority has conditionally approved the company’s exploration and drilling plans for Skaergaard
- Greenland remains a favourable mining jurisdiction with the current CIRR for loans with a repayment period of 8.5 years sitting at 1.46 per cent
- Major Precious Metals owns a diversified portfolio of exploration properties within some of the most promising precious and base metal deposits worldwide
- Major Precious Metals (SIZE) is up by 10.87 per cent and is currently trading at C$0.51 per share
Major Precious Metals (SIZE) has provided an update on its mining and exploration activities in Greenland.
The company is planning a large diamond drilling program on its Skaergaard Project starting in late June to early July.
A recently formed coalition government in Greenland remains very supportive of exploration and mining development in the country. This is evident by the Greenland Mineral Licencing and Safety Authority’s recent conditional approval of the company’s exploration and drilling plans for Skaergaard.
Major Precious Metals has been working directly with the MLSA regarding its upcoming drilling plans and expects final approvals once the MLSA staff have approved the associated documentation.
Greenland remains a stable, low-risk and pro-mining jurisdiction with strong financial support from European and North American institutional banks and finance agencies, as well as Greenlandic and European government-backed organizations.
International mining companies with advanced projects in Greenland such as Ironbark Zinc and Bluejay Mining have recently signed Letters of Intent for debt financing with favourable terms from the Export-Import Bank of the United States.
The Commercial Interest Reference Rate is the official lending rate of export credit agencies. The current CIRR for transactions with a repayment period of 8.5 years is 1.46 per cent.
EXIM has been investing in Greenlandic mining projects due to the abundance of minerals within some of the largest undeveloped deposits in the world. These strategic and critical minerals include zinc-lead-copper, platinum group metals, titanium, vanadium, gallium and rare earth elements.
The Skaergaard Project contains several of these critical metals in large quantities such as palladium and platinum, as well as vanadium, titanium and gallium.
Major Precious Metals owns a diversified portfolio of exploration properties within some of the most promising precious and base metal deposits worldwide.
Major Precious Metals (SIZE) is up by 10.87 per cent and is currently trading at C$0.51 per share as of 9:30 am ET.
