Positives: - Largest Rare earth deposit in the world outside China/Mongolia. (Makes Lynac's look like a baby) - Rare earths are in demand. China supplies 90/95% currently and are talking of supply cuts to force prices up. This not only make GGG's project more viable but, critically, can help provide access to the minerals which are important to the future of the planet (rare earths are used in hybrid cars, wind turbines, rechargeable batteries and energy efficient light globes - as well as ipods) - The next two RE projects in Australia have a major shareholder from China (Lynac still pending regulatory approval) - Resource has potential to be increased in size and it's already massive - Directors buying - A strong management team - Former Greenland PM part of the team - Long-life mine - Potential by-products: uranium, sodium fluoride, zinc - Near deep water ports - Close to Europe/US - $73m market cap - Last known broker report (April) said a successful PFS would be a big step toward a medium term (pre-mine) re-rating to approx $500m market cap. PFS due late this year, I believe. Is that correct Rod? Exciting...
Negatives: - Litigation (doubt it will have a material impact IMO but market sentiment will be damaged because people get scared off easily) - Still need Greenland approval to mine - Long way away from Japan (a key buyer) - Will need to obtain funds to mine, causing dilution. But this is the same for any miner in their position and really doesn't matter Long-Term if they get approval to go ahead - Still need to complete feasibility studies to prove viability - Not many people know enough about it - mainly refer to Australian analysts/brokers on this point, but thats one reason why it's so cheap - It is a long-term project. Those without patience should not be in it. - There are a lot of downrampers on HC :)
I think that's all ive got for now. Please feel free to correct me on any points or add more to the list.
Greenland Minerals and Energy is one of the most exciting projects in the world today IMO.
Im more than happy to be in at this price and wish good luck to all holders (and interested observers)... DYOR
GGG Price at posting:
47.0¢ Sentiment: LT Buy Disclosure: Held
