up up and away in my uranium balloon

Just recieved an email from Cunningham Securities reference an enquiry and clarification on the last QTR report.

Paul Conboy sent me a great reply, I suggest if there are any doubts about this company then Ring Cunninghams and you will get factual answers.

any way heres the email

Greenland Minerals and Energy ASX.GGG Last sale 38c Options GGGO(exp Jun 2011 20c strike) 25c

Market Capitalisation - undiluted AUD$81 million cash AUD$ 20 million

Speculative Buy Recommendation



With some increased optimism returning to the certain sectors of the market including Rare Earths and uranium ,Greenland Minerals and Energy remains well funded and focused on advancing it's world class specialty metals project Kvanefjeld,located near the southern tip of Greenland . Kvanefjeld is rapidly emerging as one of the world's largest undeveloped deposits of rare earth elements,uranium and sodium flouride at a time when Greenland, on it's path to independence from Denmark,is championing the development of large natural resource projects with the aim of building a resource based economy.



-as above,GGG now has an undiluted market cap of $81 million with $20 million cash in the bank

- a recent placement of 25 million shares at 20c was substantially oversubscribed with strong interest from institutions,industry participants and Danish Pension Funds.As such,the company will raise a further $1 million at 25c( subject to shareholder approval).Some big industry names will be added to the register.

-GGG recently announced the 2nd largest known deposit of Rare Earth Oxides with 220 million lbs of associated uranium oxide.The resource is expected to grow in size and certainty shortly as 2008 drill results are incorporated in the resource .As China continues to manipulate the flow of Rare Earths it is essential that companies whoseproducts require rare Earts

-Greenland's parliament debated the topic of uranium mining in November 2008,with a large majority of politicians in support of by-product uranium production from polymetallic ores.This could be legislated in late 2009,which would see Kvanefjeld accelerate toward development.The company is confident of a positive outcome and as such have begun a pre-feasability study, having already engaged GRD Minproc,Coffey Mining Pty Ltd and Coffey Natural Systems.

-In late 2008 the company appointed Mr Michael Hutchinson as Non-Executive Chairman.Mr Hutchinson is Chairman of RBS Sempra Commodoties and is a Director of the London Metal Exchange(LME).



Company Managing Director Rod McIllree is currently in China presenting at the China Nuclear Energy Congress, before embarking on a roadshow in London and Europe with new Chairman Mike Hutchinson.He will then travel to Greenland and will be present at the ceremony on 21 June when Greenland becomes independent from Denmark.Soon after that, representatives from the top echelon of world investment banks and uranium producers will conduct site visits.



As the company continues to tick boxes and exceed expectations operationally, more and more knowledgable market participants are recognising how cheap this world class project is compared to peers which has been reflected by substantially increased trading volumes . At current prices the market is valuing GGG at 27c per pound of uranium in the ground (and therefore nothing for the Rare Earths ) while many recent industry transactions have taken place at above $7 per pound.

Please read the attachments being-
-Cunningham Securities overview
-recent independent research reports
-March 31 2009 quarterly report

Also visit the company website at www.ggg.gl to view recent announcements and a copy of the company presentation.


Please feel free to call me to discuss this and other opportunities on +61(0)416040000 at any time of day or night.



Cheers



Paul Conboy