Australian Shares Sparty's Blog
Comments on this blog should never be taken as investment advice
Posts on this website are general "tips" and nothing more than that and should never be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. Sparty's posts nearly always relate to companies that he either holds, has held or intends to hold.
Main Forum•Greenland Minerals and Energy gets uranium green light
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Greenland Minerals and Energy Limited (‘GMEL’ or ‘the Company’) is pleased to advise that both the Greenland and Danish parliaments have now passed legislation which will regulate uranium export from Greenland. This is a very significant milestone for the Company as it confirms that a regulatory framework for the export uranium will be in place for the development of the Company’s Kvanefjeld Project.
In Greenland’s parliament on May 25th, four bills were passed to ensure that uranium mining and export is done in a manner that meets the Kingdom of Denmark’s international non‐proliferation commitments. Greenland now has a regulatory and legislative framework in place which will permit the production and export of uranium. Read full pdf
This will allow ASX: GGG to turn the rare earth elements, both light and heavy, on its head. It will also cause marked changes in the world's supply of zinc and uranium and perhaps thorium. My earlier posts on GGG -
The most significant undeveloped REO and uranium project on the planet. Watch the Chinese gobble it up.
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"he most significant undeveloped REO and uranium project on the planet" agreed!
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Nothing much to add. This project is still awesome. Environmental approvals are coming mid 2018. Production hopefully in 2019. The big news of Japan finding deep sea (6 kms deep) REO resources is, to my mind, just a kick against China saying that they cannot again use REO supply as threat in political conversations.
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Just days away (in the next few months) from GGG becoming the new force in REO and Uranium... post Impact Assessments being ratified
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The Uranium price has recently jumped from US$21/lb to US$26/lb following the likely permanent closure of the world's biggest Uranium mine: Cameco's McArthur River mine. It seems that Cameco have decided that since they cannot produce it at current spot prices, they may as well buy up what they need to meet their supply obligations. With current demand being around 190 Mlb / annum, supply being around 140Mlb/a, Japan restarting some reactors and China, Russia, India and a few other countries building new reactors, one would think the uranium price rise must continue.
And GGG are perfectly positioned to take advantage.
https://oilprice.com/Metals/Commodities/This-Year-Everyone-Will-Love-Uranium.html
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The next domino falls...
Inaugural Safeguards Inspection Brings Kvanefjeld Into International Non-Proliferation System to Enable Uranium Production and Sales
A formal inspection of the Kvanefjeld site and associated facilities by representatives of the International Atomic Energy Agency (IAEA) was completed on August 28
https://www.asx.com.au/asxpdf/20180831/pdf/43xx5ctpv4hb7p.pdf
