Greenland Minerals and Energy [ASX.GGG] Last sale 12c GGGOB (Sept 18, 8c) 5c
Shares on issue: 1b, Market Cap $120m, Cash $5m
Key Asset: 100% owned Kvanefjeld Project, Greenland,
Sector: Rare Earth Elements (U, Zn, fluorspar by-products)
Project Status: Advanced stage, progressing through permitting, technical work underway with Shenghe, integrating with leading downstream processor with strong international customer network
Update: Recent ‘Flash Note’ from RM Capital which reiterates their short term price target of 29c with considerable upside
Comment: Rare earths are a critical group within the tech metals (REEs, Li, Co) that are seeing big demand growth driven by emerging technologies. The strategic relationship with Shenghe has GGG in a unique position, and could become one of the bigger stories in the tech-metal space. Shenghe’s market capitalisation has recently surged past AUD $6 billion.
Q2 Activities Report
- Rare earth prices recovering strongly on the back of continued supply side reform in China and strengthening demand outlook
- Solid progress in closing out environmental studies for the Kvanefjeld Project
- The recent visit to the project site where the delegation included the IAEA Director General, Greenland’s Premier Kim Kielsen
- Technical work programmes progressing with strategic partner Shenghe Resources Holding Co Ltd
Strategic Partner Significance:
Shenghe is the most internationally focussed of Chinas leading rare earth companies. Shenghe and GGG are working to develop Kvanefjeld as a cornerstone to new rare earth supply networks as supply side reforms continue.
Shenghe brings leading downstream processing technology and a strong international customer base to the Kvanefjeld Project. These elements combine to bring a path-to-market for the substantial projected output from Kvanefjeld, thereby providing an off-take strategy.
Shenghe’s share price has jumped from 11.66 CNY on 13 Jun 2017 to 21.52 CNY yesterday. This gives the company a market capitalisation of 33B CNY, or approximately AUD$6.2 B.
Investor Interest Returning to the RE Sector
Rare earth companies listed on the ASX are enjoying a good run as below as investor interest warms to sector rejuvenation
- ARU 5.4c 27 Jun to 7c
- HAS 8.6c 19 Jul to 20c
- NTU 9.5c 31 Jul to 12.5c
- LYC 8.2c 1 Jun to 16c
I believe GGG represents an excellent buying opportunity at these prices as the company continues to make solid progress on many levels.
Recent Updates and Company News
Q2 2017 Activities Report:
http://www.ggg.gl/docs/quarterly-reports/June-2017-Quarterly-Report.pdf
RM Flash Note:
http://www.ggg.gl/docs/in-the-news/RMResearch-Flash-Note_GGG_20170724.pdf
Mining Journal overview:
http://www.mining-journal.com/featured-company-profiles/kvanefjeld-on-the-cusp/
IAEA Director General visits Kvanefjeld:
https://www.iaea.org/newscenter/news/iaea-director-general-visits-greenland-and-copenhagen
Rare Earth Prices Rising, Sector Revival Underway
http://www.ggg.gl/docs/ASX-announcements/Rare-Earth-Market-Update-July2017.pdf
Greenland Minerals – Shenghe Commence Strategic Cooperation
http://www.ggg.gl/docs/ASX-announcements/GMEL-Shenghe-Announcement.pdf
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Last
2.2¢ |
Change
-0.001(4.35%) |
Mkt cap ! $30.89M |
Open | High | Low | Value | Volume |
2.3¢ | 2.3¢ | 2.1¢ | $37.78K | 1.681M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 1510902 | 2.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.2¢ | 50951 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 1510902 | 0.021 |
7 | 3434730 | 0.020 |
3 | 1067315 | 0.019 |
4 | 2125000 | 0.018 |
1 | 27000 | 0.015 |
Price($) | Vol. | No. |
---|---|---|
0.022 | 50951 | 1 |
0.024 | 62000 | 1 |
0.025 | 80000 | 1 |
0.026 | 35492 | 1 |
0.028 | 72708 | 2 |
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