cattledog101 posted on 09.10.09: BrizeeI am a novice share...

cattledog101 posted on 09.10.09:

Brizee
I am a novice share trader but i take particular attention to intra day trading and to me this stock is hiding an accumulator (seems to rise during the day but shuts lower) my question is with all this bad news being trumped up and amplified about GGG why does it remain so resilient! i have my thougths whats yours.
Rob

Only because u asked me, Rob, these are my thoughts on GGG trading.

GGG resilience in the shareprice can be maintained by the house/broker(s).
That is standard practice for many companies, not unique to GGG if it is the case.
I believe that GGG shareprice is being propped, and from memory I also believe a stack (millions) of options will vest at the 40c Share price level - but I need to confirm the options vesting details.

According to very vocal GGG supporter Claws, Shemesian himself is involved:

re: miner greenland buries bad news in report (Claws)
Forum: ASX - By Stock (Back)
Code: GGG - GREENLAND MINERALS AND ENERGY LIMITED ( 42c | Price Chart | Announcements | Google GGG)
Post: 4574138
Reply to: #4573159 from 123enen Views: 1586
Posted: 06/10/09 16:56 Stock Price (at time of posting): 47.5c Sentiment: LT Buy Disclosure: Stock Held From: 124.179.xxx.xxx
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Oh sorry.. was not deliberate.

Anyway, Big Mike owns more mines all over the world, or 19.9% of them, than you would ever know.
He is a billionaire in his own right.
If he sees a problem, he throws some money at it and it goes away, as you saw today, a cool million.

As far as GGG is concerned, it is not for the weak hearted. If one can not afford to lose his/her money, stay away from it. This is a game for high risk takers.

As far as 123enen is concerned, what would he post on if there was no GGG? So he should he happy as well.

There are definitely two groups at work on HC, like in many other stocks, the pro and the anti group. As always, one man's vulture is another man's nightingale. :)
[end]

Spot on lory, 34 Parliament Place West Perth housed a number of companies all associated with Mick Shemesian and the building was in fact beneficially owned by Shemesian's close associate "the Gun" Leo Khouri as per this article, as ocracoke previously intimated.
At that time, John Stratton, alleged murderer and involved with Brett Kebble in one of the largest swindles in South African corporate history via JCI etc, had an office in that building. The Four corners spotlight saw the fleeing of the crew from 34 Parl Place.

And quite coincidentally, as malgmac has posted, 47 Charles St Mayfair London houses a number of companies with very close connections to Shemesian, including:

- London Mining (one of the directors is Hans Kristian Schonwandt, also a director of GGG; a founding shareholder and geological consultant is Greg Barnes director of GGG subsidiary Westrip Link - page 11); and former MD of London Mining (until February 2009) was Chris Brown, a friend of Mick Shemesian, from this minesite article http://www.sharecrazy.com/ubbthreads/showthreaded.php?Cat=&Number=435525&page=0&view=collapsed&sb=5&o=&vc=1

(Extract: And in the run up to Christmas, Tony’s bullish mood is surely helped along its festive way by the fact that one of the key twin pillars in the faction that tried to get him thrown off the board of Cape Lambert a month or so ago, has now had its shareholding in Cape Lambert frozen by the Supreme Court of Western Australia. This is Power United, run by Mick Shemesian, and which, at least according to Mick, holds a fair slug of Cape Lambert shares. Mick’s former partner, Brett Matich, disagrees, though, and says the Cape Lambert shares are actually his. So the matter has gone to the courts, a fact which greatly helps Tony, as the other dissenting shareholder, Roman Abramovich’s Evraz, has lost a powerful ally. Together those two dissenters spelled was trouble for Tony, even if he could ultimately handle it, but Evraz has stated in the press that it’s now looking to sell, so by the time the courts free up the Power United shares, Evraz will probably be long gone and Mick Shemesian, who’s reputedly a friend of Chris Brown at London Mining, will have less of a lever over the company.)

- Exchange Minerals Ltd

and of course

- Greenland Minerals GGG itself


When researching a company for investment (not talking about trading here), the track record of key people involved reveals much about them.

Look at Contact Uranium (CTS) for one, as there are some interesting parallels with GGG.

CTS was a 34 Parliament Place West Perth company link which was previously named Contact Resources.

Current shareprice of CTS (now rebadged as RMR in an attempt to hide the ugly truth of the past) is around 2 cents. (No doubt primed for the next big day out).
It's a LONG drop from the heady heights of 2007 when CTS was hyped to the heavens.

Very big claims were made about CTS which did not come to fruition - such as the ASX headline:
"Uranium production in Peru by end of 2007" - Link

Warwick Grigor got at least one thing right on 11.04.07 with CTS in his tipsheet.

Grigor stated:
"Outstanding Speculative Uranium Opportunity, But Management Risk” - Link

Grigor was correct about the management risk, while the uranium opportunity proved to only exist for a pump.

Note: Grigor's Far East Capital made a profit from their placement stake.

Grigor stated about CTS management and key shareholders :

"Management is the Weakest Link

While we can get excited about the geological potential, it remains to be seen whether the current management has the experience to be able to fully realise the potential, to the benefit all shareholders equally. We see a lack of transparency with the management and corporate governance and are unsure of the intentions of some of the key shareholders groups. Great projects can make mediocre management look good, but poor management can also ruin a good project. Perhaps there is a good reason that the market has the shares selling at a perceived discount. All of the comments above should be balanced with this generalisation."

Note: Grigor's Far East Capital exited with a profit from their CTS placement stake.

In a parallel with GGG, Mick Shemesian's Exchange Minerals was granted 50 million options in CTS last year at a paltry 0.5cents.
Refer to this article - Revolting Shareholders.

No detailed explanation for this incredible act of generosity was ever provided to the devastated shareholders, who were diluted to smithereens.

CTS crashed and burned with asset swapping between 'business partners' as Ian McIlwraith revealed in his report Heat is on to mine Kyrgyzstan's Uranium.
Richard Napier was the Executive Chairman who was also a director of a private company which reaped millions in the asset deals.
Napier was the front for CTS for around 2 years and walked away with millions in salary/via the asset deals. But he wasn't the only one who made millions from CTS.

The main reason for CTS's failure was that the widely hyped Peruvian Corachapi uranium deposit which had a JORC resource, turned out to be an absolute dud after a lengthy delay in releasing the resource update.

Geoff Blackburn AM, geologist from RRS, was appointed as a director of CTS for a few months in 2008, and was CTS' Technical Advisor, but resigned in mysterious and sudden circumstances just prior to the bombshell that Corachapi was a dud - and the subsequent shareprice spiral to current levels.
What's intriguing about Blackburn, is that he was a highly recognised geologist - Order of Australia, no less - how could he have got Corachapi so wrong??

But the (official company) title of "Uranium adviser" for CTS belonged to "independent" geologist, Malcolm Mason - Link.

U might have heard of Malcolm Mason before? Bingo. In yet another coincidence, Mason is now the Technical Director for GGG - Link.

And another amazing coincidence between GGG and CTS (apart from the massive Shemesian shareholding/options granting) is that Anthony (Tony) Grey from MegaUranium - which took over Redport (RPT) in which Mick Shemesian's wife Wanda Lee Clarke, as sole director of Australian Pensioners Fund Pty Ltd was a substantial holder in (refer Link) - is/was an advisor to both companies.

Grey as advisor to CTS link - CTS 2007 Annual Report Link - Page 9

Grey as advisor to GGG link - Link

Oh, and Grey is also Special Advisor to Shemesian associated Apollo Minerals AON Link, and Special Adviser to Shemesian associated Artemis Resources ARV Link.

Yes, Grey has had success, but on the other hand, CTS was a tangled web of a disaster (only for the retail investor), for which Grey as special adviser to the board was gifted millions of shares and options.

Yet another coincidence between GGG & CTS - Mark Jones, director of Paterson Securities (Perth) had a large holding in both companies via his private entity Worldpower Pty Ltd; refer to CTS Top 20 list in this hotcopper thread from 2007 (amongst talk of some guy in Dubai who was alleged to have sold millions of options) Link and the 2008 GGG Annual Report.

It's a small world, hey?

Back to GGG...to summarise, red flags have been raised on the GGG forum or in the media re some serious issues in GGG:

- GGG Executive team's lack of experience in mining
- despite this, massive options allocated for m/ment
- lack of transparency with GGG regarding the current legal proceedings with Westrip & the company's funding of minority partners
- the enormous payments/scrip to Gravner/Shemesian
- the question of Shemesian entities exceeding the takeover threshold (as raised by the media)
- Questions regarding the actual role of Shemesian in the company amidst public silence from GGG management
- media questions raised over the accounts
- the GGG CFO allegedly posting on hotcopper without disclosing his position and attacking the media (was that a personal view or a company stand?)
- the MD sending private emails to select investors attacking the media (as reported by the media) - where is the public statement?
- the GGG Technical Director Malcolm Mason, and the GGG Special Adviser, Tony Grey, were both involved in key decision making and corporate undertakings in the disastrous CTS, the facts of which hopefully ASIC are untangling.

Finally, all of the above doesn't mean that the shareprice won't be pumped & played with and curveballs thrown - like most stocks.


hot capital posted some good insight on GGG below:

09/10/09 06:21 (View) Back Post Reply
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hot capital
Post #: 4586996
Price at time of posting: 43.5c
In Reply to msg: #4586981
IP: 114.72.xxx.xxx
Sentiment: None
Disclosure: No Stock Held
Views: 1316




The profits were so huge on relisting !!!!

Shares from .20 cents to $2.70
options from .01 cent to $1.70 plus

that these profits were sent thru low tax countries.

The serious money has been made on this stocks

for the same percentage return this stock would need to go to $50.00

Hot trading
Hot Capital