Greenland Minerals and Energy Ltd (ASX.GGG) Last sale 9.3c GGGOB (8c, Sept 2018) Last sale 3.2c
Over the last week you may have noted a dramatic increase in the GGG share price (last 9.4c, high of 12c last Thurs) and the volume traded (over 70m traded in 5 days), and also as a result positive associated press as per the link below.
The article quoted GGG Managing Director Dr John Mair with key points being
-The investment of top tier Shanghai listed Rare Earth expert company Shenghe had resulted in an increase in coverage and attention following a long period of the company keeping a low profile, while concentrating on building a strong development foundation for Kvanefjeld.
-Rare Earths and uranium are integral to the new energy era and are set for market rebound.
-the vast resource scale and the unique ore type which offers low technical risk processing
-the above being noticed by Shenghe validates GGG’s progress, their investment providing a path to market and strengthens the development case
-a positive change to the shareholder register, the largest 3 shareholders now being Shenghe, Global X (ETF) and North American fund Tracor.
NB: To clarify today’s announcement, Global X ceased to be a substantial holder when Shenghe’s 125m shares were issued as their holding of 49m fell below the 5% threshold on the new base of 999m shares, but recent on market purchases of over 4m shares have taken them back above 5%.
Please also read the article in conjunction with further commentary below and the re-attached RM Research Report (short term target 23c), which I had sent 1 month ago.
It is my belief the recent increase in interest and share price may just be the tip of the iceberg, as the company continues to progress it’s Mining Licence Application through the system and establish further technical efficiencies in collaboration with Shenghe.
