Sorry,in my previous post I missed your point about the 39% - thinking you were referring to Shenghe.
In fact there is now definitely no 39% of GGG's holding that is owned by another party. GGG owns 100%.
That 39% is ancient history. As the Sydney Morning Herald reported in 2011:
MICK Shmazian's Greenland Minerals and Energy is expected to announce today that it has bought full control of its Kvanefjeld rare earths project for close to $50 million, ending years of legal disputes and boardroom challenges.
Acquisition of the remaining 39 per cent, owned by Perth-based explorer Greg Barnes and his Westrip Holdings group, leaves Greenland Minerals free to attract a cornerstone investor or potential partners to help in its pursuit of development permission from the Greenland government.
disallowed/business/50m-buys-control-of-kvanefjeld-20110814-1isz3.html
