GGG
It has found lots of rare earth elements in Greenland but encountered a lot of problems. Why? The minerals are mixed with uranium... lots of uranium. So, it has to get approval for mining the uranium! And Greenland is trying to be independent from Denmark so mining is now welcomed!
To sell rare earth elements, it is not easy. You need a customer... like everything else. However, recently a big Sichuan company signed an MOU with GGG to buy its ore. How good is that? Yet the market dumped GGG, only to rise today above what I topped up with recently after that announcement.
posted by Club Mulgoa @ 11:52 PM
1 Comments:
In fact, I topped up twice recently. Idiotic investors have been selling on good news and you wonder why. Both parcels have gone up significantly and still rising today.
As a consequence of buying on the cheap which average down my buy price, I am now close to break even with this stock. Due to sell off in resource stocks, it was a big loss for me after initially doing well with all its major discoveries. It has one of the biggest rare earth deposit in the world... and there is also uranium to be extracted.
Initial difficulty was due to the fact that Greenland was controlled by Denmark but it is achieving full autonomy and needs mining to kick start its financial independence. So the Danes have no say...
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