It was a big day for many of the Australian uranium companies.
The underperformance of GGG seems to relate to their share issue at 20c….
“Greenland Minerals & Energy raises A$5 million for Kvanefjeld Project royalty repurchase
Greenland Minerals and Energy Ltd (ASX:GGG) has advised that they have received verbal acceptances to place 25,000,000 shares at 20 cents a share to raise $5,000,000. The funds will be used to increase general working capital and to facilitate a potential repurchase of the royalty outstanding on the Kvanefjeld project. Greenland’s flagship project is Kvanefjeld, a multi-element deposit located near the southwest tip of Greenland. Through focused exploration, Kvanefjeld is rapidly growing to become one to the world’s largest undeveloped deposits of rare earth elements, uranium and naturally occurring sodium fluoride, commodities with long term forecasts for strong demand increases. …”
Greenland Minerals & Energy