Extract from announcement http://www.asx.com.au/asxpdf/20090708/pdf/31jh09hmh0nhb0.pdf
Operational Update
The Company is continuing with its Pre-feasibility study on the Kvanefjeld multi-element project and expects to complete this around September/October this year.
Also given recent media speculation in Greenland and abroad, the company would like to confirm that it is in compliance with all conditions of its license regarding 2005/28 (Kvanefjeld Project) and is permitted in all aspects of its work programs which will culminate in the previously mentioned Pre-feasibility.
The company will be issuing a statement in the coming days which will clarify all recent speculation and the resultant government statement, which will confirm that there has been no change in attitude towards Kvanefjeld and that the by-product debate (which was delayed due to the election) will start again shortly with input from all stakeholders.
The company would like to thank investors for their patience with the suspension. The board felt it was important that the market be fully informed before the restart of trading of the securities and not have to rely on incorrect media speculation to accurately value the company.
GGG Price at posting:
36.5¢ Sentiment: Hold Disclosure: Held
