Interesting EGM with all resolutions passed. A rep from Westrip...

Interesting EGM with all resolutions passed.

A rep from Westrip attended and immediately queried why they were denied access to the recent cap raise. Cato seemed quite nervous addressing this person and even attempted to deny the rep access to the floor on the grounds that the rep did not have the correct paperwork to be identified as the corporate rep. Cato reluctantly allowed the rep to speak, and stated that Westrip was denied access to the cap raise due to their substantial shareholder status.

Judging by the fact that GGG had a corporate lawyer on hand at the meeting leads me to believe there is some underlying tension between the company and Westrip. To what extent that this could disrupt things in the future I dont know.

The meeting was closed and the floor open to questions.

- Regarding the political situation in GL, Cato suggests that an announcement in this regard would be made within a couple of weeks. Simply stated that the Directors were working hard to seek clarification.

- Jeremy is well spoken and seems passionate about the project and pleasingly the people of Greenland. He sincerely believes that the company can help the dire social and financial situation the country finds itself in.

He discussed the resource and made mention of the fact that they had similar if not better results some 6km away from the main project area. Whilst not expressly stated, the vibe of the description lead me to believe that this could well become the largest REE deposit in the world. This is my interpretation only.

Jeremy stated that GL seriously lack skilled labour and that if the project were to go ahead, they would need to start training locals NOW. IMO this could be a point of negotiation for the company in that they could potentially start a "school of mines" employing / training locals etc

- A question was raised regarding other mineral projects in the pipeline within GL that could generate royalties for the govt. The answer contained several projects however the common thread was that most were suspended or ceased due to uneconomic conditions.

- Another point raised was the progress of their environmental studies. Usng the old study as a base, they have been progressing this since 2007 and seemed well down the path in this regard. They seem to have a good handle on the issues they face.

- Metallurgy was raised. Indicated that they are advanced in this regard in separating U from REE, however a flowsheet is still not finalised. Zinc was always present in the resource however they did not previously report this due to the fact that they werent sure if this could be extracted. The company has recieved advice that this may now be possible, hence its inclusion in the resource statement. Grade was approx 0.2% uniformly across the project. Zinc credits a distinct possibility then.

If i remember anything else I will post. All in all i felt better about the situation.