Ann: Placement , page-5

Our speculation is right, this is a good announcement even though it contains little detail but can easily be read into.
Firstly the placement was overwhelmingly oversubscribed that they increased it and increased the price.
Both institutional and more importantly "industry" particiapants ie someone else in either the rare earths field or uranium, my bet is still on the latter.

"the participation of these parties represented a significant benefit to the company
and has facilitated several key offers.
The vast majority of demand for both capital raisings came from overseas and Australian based
institutions including companies operating in the same commodity groups as the Kvanefjeld
project."

Its obvious thta some big players are now running a ruler over GGG, why release this news after hours on a friday...so nobody hopefully sees it.
Why not realease the top 20, cause they musnt want anyone to see it.
Where are the results from the drilling, also been delayed.

Now the question is what are they playing at, either they want to keep everything low key so the company gets the go-ahead to mine greenland ie dont make a big deal out of it or one of the companies operating in the commodity group can buy a larger stake.

Why else wouldnt they release all of this?

Im buying more Monday




Oversubscription of 4,000,000 shares at AU$0.25c.


Greenland Minerals and Energy Ltd is pleased to advise that due to overwhelming institutional
and industry participant interest in the company’s recent capital raising it has agreed to increase
the amount raised by an additional AU$1m. The placement still remained significantly
oversubscribed.
This additional 4m shares was placed at AU$0.25c representing a 25% premium to the
AU$0.20c raising which was run concurrently. The delay on these additional acceptances
reflected the fact that several of the overseas applicants were not able to settle within the
timeframe of the first placement due to internal procedure however the Managing Director took
the view that the participation of these parties represented a significant benefit to the company
and has facilitated several key offers.
The vast majority of demand for both capital raisings came from overseas and Australian based
institutions including companies operating in the same commodity groups as the Kvanefjeld
project.
The company is also very pleased that Danish funds increased their existing holdings in the
company and the addition of several new institutions also from the same region.
The company is pleased to note the recent increase in interest in the company, which we believe
reflects a heightened awareness of the significant Rare Earth component of the multi-element
potential of the Kvanefjeld Project.
The above raising is subject to shareholder approval and the notice of meeting is expected to be
issued next week.