Ann: Company Update, page-95

Red dog is 68 north, citronen is 83 north. That's a significant difference. Additionally, red dog has the benefit of being in Alaska and having the support of the US government. I'm guessing Greenland coast guard won't be helping us much. A more similar mine would be the historic Polaris mine in Canada (75N) but it had the support of the Canadian government. They waived the environmental assessment hearings and helped ship the concentrate in a federally owned icebreaker, we're are not going to get that from Greenland. That said, I don't mind, it's the reason why it's cheap. Glencore, Nystar, NFC know a lot more about arctic mining than me, so I will take their word for it.