Old 11-12-2009, 03:02 AM
Sparty Sparty is offline
Join Date: Mar 2009
Posts: 1,119
Default Just how big is GGG's REEs project

Greenland Energy and Minerals has already proved up a JORC of 4.7M tons of Rare Earth Elements and over 280m pounds of uranium.

But according to their annual report there is a lot more to come.

I think the image below says it all.
(Not really you should read the annual report or at least the investor's presentation)

Pleasingly to those of us that are invested in GGG they have quite a large % of Heavy REE's.... these are the ones that China is most likely to stop exporting... consequently the Heavy REEs will see prices soar.

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Old 11-17-2009, 11:04 AM
Alite Alite is offline
Join Date: Nov 2009
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Default Greenland Sovereignty

How big will the resource be is anyones guess. The bigger the better I say.
But it should be noted that currently uranium exploitation (and presumably mining) is prohibited in Greenland. And the REO is tied up with uranium.
The light on the horizon is that "from January next year, Greenland will gain full sovereignty over its natural resources from the Dutch. The rare earths alone have the potential to double the country's effective GDP". So the people of Greenland have much to gain from allowing this mine to go-ahead. Lets hope they do.
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Old 11-17-2009, 08:34 PM
Sparty Sparty is offline
Join Date: Mar 2009
Posts: 1,119

The politics still seem a bit murky. As I understand it, it is the Inuit Ataqatagiit party that opposes the mining and exploration of Uranium mining rather than the former Denmark colonists.

However on the bright side:

Lars Emil takes on the role of Chairman of Greenland Minerals and Energy A/S effective from July 1st. The Company is very pleased to have attracted a man of Lars Emil’s stature in Greenland and looks forward to his full time involvement.

Lars Emil is recognised as being pivotal in Greenland’s move to self governing and ultimately independence. “I see my role with Greenland Minerals and Energy as a way to lay the foundations for the establishment of a strong minerals industry here in Greenland” Lars Emil stated.

IMO it would be hard for an emerging country of around 80,000 people to turn its back on using a natural resource that will make it one of the richest per capita and in all likelihood one of the more powerful nations based on the pivotal role its natural resources will play. GGG's role in the equitable distribution of this wealth and their ability to counter the inevitable geopolitical plays that will originate from China and other nations involved in the current Rare Earth war is probably where the risk lies for GGG's shareholders.

I hold GGG.

(There are parallels here with what ERA is facing at Jabiluka)
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ggg, ggg ree, ggg uranium, jorc ggg

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