Slight changes in ownership my friend. Global X Uranium ETF sold out to some Asian based investors.
Also the proposed investment in Kvanejfeld would not necessary mean investment into Greenland Minerals. If Shenghe took at 60% stake in Kvanejfeld in exchange for funding the entire development, Greenland Minerals would retain 40% free carried interest. There would be no dilution in the company Greenland Minerals.
To put it another way, Shenghe would then own 12.5% of Greenland Minerals & a 60% direct stake in Kvanejfeld.
Although as stated previously, I doubt that will materialise. Most likely outcome (and best result for shareholders in my opinion) would be some direct investment by Shenghe with an element of debt funding.
GGG Price at posting:
8.6¢ Sentiment: Buy Disclosure: Held
