In my opinion, there are good reasons to be optimistic about this stock:
1) Yes, the SP has gone down since trading resumed. However, prior to the hault (and prior to this being discussed unexpectedly by Greenland Parliament) the share price had quietly climbed from ~35c to 45c. Most likely just punters getting in for a ride. The price "seems" to be settling back down around 35c, where is was prior to the TH. I think this is good, because the uranium debate will be discussed again in October/November when Greenland Parliament has their official fall meeting. Although it seems unlikely that anything will change, discussion is still a good thing.
2) KNR has been airing a tv show about uranium mining on local Greenland television over the last few weeks. This is a government made production, which shows the health impacts associated with uranium mining. I havent seen the tape, but it is supposedly "unbiased", because it is composed using government collected information. Who knows about that though.
3) Greenland Minister of Minerals and Petroleum, Karl Ove, is visiting Canada's high grade uranium mines as we speak. He is traveling with Simon Simonsen, the mayor of south Greenland. They will be stopping in at mines which produce ore with concentrations exceeding 200,000ppm U (which is being mined safely, without health or environmental impacts), and which is several orders of magnitude more concentrated than Kvanfjelds 300ppm uranium content.
4) Westrip is probably taking advantage of the increased interest in GGG, and is doing some selling. They have been a nightmare JV partner, and hopefully they will be off the register soon. They still have a 23 million shares, so it will be a lengthy process.... They have definitely contributed to the downfall in GGG shares since they hit 90c at the beginning of the year, selling off 7 million shares.
5) They have a real, massive resource. As far as a spec-ish type stock goes, this is a really important thing to have. No matter what the downrampers say about GGG, they have one of the largest proven REE deposits on earth. The south discovery they made this summer is a sign of just how big this project can get!
I am happy to hold, as I think that it is just a matter of time before this thing gets mined.
GGG Price at posting:
34.0¢ Sentiment: LT Buy Disclosure: Held
