Certainly the amount of selling has been down but really the volume has been very small compared to the milllions that were traded about 6 weeks ago. Obviously the big players have had a small rest but any spark of interest will back a rebound.
Example - China has tightened control over all its rare earth metal productions considering their methods of production would amount to absolute stupidity if carried out in any western country today. Also some big Chinese companies are now becoming CONTROLLERS (Chinalco) and a few others so the industry is heading for large CHINESE company controls.
In the US I believe the houses of Goverment have also started issuing commands for greater control and access to rareearths for US companies.
The momentum FOR greater rare earths needs and availability is becoming very obvious to the Chinese, Japanese, US and European Goverments.
They are absolutely ESSENTIAL in their new worlds expansions.
Has the penny really dropped as to how important rare earths are to each countries needs?
Certainly some form of potential progress reports from GGG management AND some obviosly positive news from Greenlands goverment will help immensly, coupled with some more of these interested countries like US, Europe would add GOOD lustre back to GGG share value very quickly.
GGG has been exceptionally quiet recently. Some progress news NOW would be a nice catalyst for interest.
GGG Price at posting:
56.5¢ Sentiment: Hold Disclosure: Held
