HOMEGROWN EXPLORES

Platinova A/S and Nunaoil A/S play an unusual role in Greenland exploration. They both behave like any other junior doing its mightiest to find a mine. But Platinova also helps to secure for other exploration outfits such things as helicopter support, camp rentals, even diamond drills. Nunaoil can also aid exploration newcomers.

Of course, neither Platinova nor Nunaoil is an ordinary mine finder — the Greenlandic government has secured an equity stake in Platinova. Nunaoil is wholly government-owned, 50/50 Greenland and Denmark.

“The government wanted a company with North American contacts to act as a bridge for North American expertise and capital,” says Bob Gannicott, Platinova president and CEO. Platinova was a natural choice because Gannicott had plenty of previous experience in Greenland working for the Black Angel mine.

But Gannicott wants to make it perfectly clear that the “service-company” aspect is more a sideline than a primary function. He says Platinova devotes most of its energies to mine finding.

Perhaps long before it finds a mine, however, Platinova may become part owner in a smelter. Sherritt Gordon Ltd. and Hatch Engineering have been commissioned by the company to study the feasibility of a zinc refinery near Nuuk, Greenland on the west coast. A Nuuk refinery could intercept concentrates from the Canadian north, saving Canadian mining companies millions in shipping charges to European refineries.

Nunaoil is an aggressive and quite independent grass roots explorer that seeks out joint venture partners to advance its projects. Its most recent find of quartz-gold mineralization in the south of Greenland is a case in point. Now that surface outcrops of several veins have been located, Nunaoil would welcome a publicly-traded exploration company to joint-venture the project to the next level of exploration.

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