Greenland Minerals -112Mio lb U3O8 Inferred (Seite 729)
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ISIN: AU0000250250 · WKN: A3D10V · Symbol: G7PA
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Moin!
Neue Präsentation zum AGM, Zusammenfassung des AGM und Jahresbericht, ansonsten nix Neues...
http://www.asx.com.au/asxpdf/20091110/pdf/31lyvtf1nyssvb.pdf
http://www.asx.com.au/asxpdf/20091110/pdf/31lz6jt6pcjwly.pdf
http://www.asx.com.au/asxpdf/20091111/pdf/31lzpf08j0gstj.pdf
MfG
Alkanivorax
Neue Präsentation zum AGM, Zusammenfassung des AGM und Jahresbericht, ansonsten nix Neues...
http://www.asx.com.au/asxpdf/20091110/pdf/31lyvtf1nyssvb.pdf
http://www.asx.com.au/asxpdf/20091110/pdf/31lz6jt6pcjwly.pdf
http://www.asx.com.au/asxpdf/20091111/pdf/31lzpf08j0gstj.pdf
MfG
Alkanivorax
Nach dem Beitrag hat sich mein Engagement erledigt. Da geht wohl einiges nicht mit rechten Dingen zu und das Geld landet in den Taschen einiger weniger... 
Thx MFC
Thx MFC
Antwort auf Beitrag Nr.: 38.122.471 von MFC500 am 06.10.09 13:11:15O GOTT! 
gestern noch hab ich gedacht, hättest mal einsteigen sollen hier.
Heute gehe ich in die Kirche. :O
gestern noch hab ich gedacht, hättest mal einsteigen sollen hier.
Heute gehe ich in die Kirche. :O
soo viel zum lesen - warte immer noch, dass der Kurs fällt ... 
October 6, 2009
Greenland Minerals and Energy has reviewed its books for the 2008 financial year - and revealed a $164 million blow-out as a result of issuing options to corporate adviser Gravner.
Last month Full Disclosure revealed that companies controlled by Gravner's owner, Mihran Shemessian, own more than 20 per cent of Greenland Minerals, beyond the threshold requiring a takeover bid under the Corporations Act.
According to documents seen by Full Disclosure, Shemessian controls Chahood Capital and Gravner, related parties that have done business with Greenland Minerals in the past 18 months. Shemessian is also believed to control Greenland Minerals' major shareholder, GCM Nominees. The three companies are operated through entities in the Isle of Man and United Arab Emirates, where Shemessian's Exchange Minerals is based.
Other Shemessian companies with stakes in listed Australian companies are registered to a mail forwarding office in Weybridge, Surrey, where Shemessian lives in a gated community.
Greenland Minerals was among the hords of companies to issue an annual report on September 30 - the final day allowed under Australian Securities Exchange listing rules. That day is popular for companies hoping to bury bad news among the deluge of last-minute reports.
Few companies can rival Greenland Minerals when it comes to having bad news to bury. Fewer have done such a fine job of burying it.
Greenland Minerals revealed a $164 million blow-out to its net loss for 2007-08 financial year. Instead of notching a $38.54 million accumulated loss, Greenland Minerals revised that to $202.96 million.
Instead of spending $87.7 million on ''capitalised expenditure and evaluation expenditure'', as stated last financial year, Greenland Minerals shareholders have been told that figure was $22.3 million.
Instead of $34 million of unexercised options on issue, Greenland Minerals has told shareholders it has $155 million in its ''option reserve''.
All that news is tucked behind a picture of a snow-capped peak in Greenland, behind the company's corporate governance statement, behind the directors' remuneration report, and behind the auditors' statement from Deloitte Touche Tohmatsu.
The information can be found on page 51 of the 71-page financial statement, in note 21 to its accounts.
Shareholders have been told the acquisition of Chahood Capital, a company believed to be controlled by Shemessian, was wrongly counted as part of the ''capitalised exploration and evaluation expenditure'' under Australian Accounting Standard AASB 3, relating to ''business combinations''.
That deal should have instead be treated under Australian Accounting Standard AASB 2, relating to ''share-based payments''. The net result of that error is that $65.35 million was wrongly added to the company's mining expenditure costs.
The note to the accounts also informs shareholders that the value of options and shares issued to corporate adviser Gravner ''did not appropriately reflect the relevant grant date and vesting conditions''. As a result, a further $127.6 million of options and $43.8 million of shares have been issued to Gravner in lieu of cash payment for services.
A spokesman for Greenland Minerals told Full Disclosure that the issuing of $127 million of options to Gravner was done ''with shareholder approval'' and that the changes to the previous year's profit were the result of a ''change in accounting practices''.
To further confuse shareholders, reference to the $127.6 million of options paid out is listed as ''$127,587 thousand''. A huge $171 million increase in equity-based payments made by Greenland Minerals last financial year is described in the accounts signed-off by Deloitte as ''$171,378 thousand''.
A leading Melbourne taxation accountant who looked over the Greenland Minerals financial statement laughed when he examined the figures.''I guess that's how they do things in Perth,'' he said.
The accountant, who audits several ASX-listed companies, highlighted that Greenland Minerals had included $156.5 million worth of unexercised options as equity ''reserves'' on the balance sheet.
''I can only assume it's been done because they are payment to advisers in lieu of cash and therefore have some alleged worth,'' he said.
Without including the unexercised options, Greenland Minerals has negative assets of $110 million. In addition to the remarkable value of options issued to Gravner, three Greenland Minerals' directors have also received $8.42 million of options each as a share-based payment. They were chief executive Roderick Claude McIlree and executive directors Jeremy Whybrow and Simon Cato.
As part of its corporate advisory deal with Gravner, Greenland Minerals is paying the company $20,000 a month in fees, plus $20,000 a month in expenses on a three-year contract worth more than $1.4 million. McIlree was on holiday and unavailable for comment yesterday.
Asked what percentage of the company Shemessian controlled, the spokesman said: ''It is inappropriate for the company to answer this question as to the best of its knowledge, no company controls more than 20 per cent. Greenland Minerals has requested both Gravner and GCM file substantial shareholder notices.''
Gravner was a corporate adviser to Boss Energy in 2007 - a company that attracted the attention of law enforcement agencies. In its top 20 shareholders were convicted drug trafficker Amad ''Jay'' Malkoun and bikie Adrian Pamplin.
Under the Boss Energy deal, Gravner was paid a cash retainer of $20,000 per month rising to $40,000 over a two-year period, plus expenses.
The independent expert's report compiled by VMC Global warned shareholders that Gravner could acquire up to 49 per cent control of Boss and obtain ''significant influence over the company''.
Full Disclosure tried to contact Mihran Shemessian for his comments but he did not respond to our inquiry.
http://www.theage.com.au/business/miner-greenland-buries-bad…
Greenland Minerals and Energy has reviewed its books for the 2008 financial year - and revealed a $164 million blow-out as a result of issuing options to corporate adviser Gravner.
Last month Full Disclosure revealed that companies controlled by Gravner's owner, Mihran Shemessian, own more than 20 per cent of Greenland Minerals, beyond the threshold requiring a takeover bid under the Corporations Act.
According to documents seen by Full Disclosure, Shemessian controls Chahood Capital and Gravner, related parties that have done business with Greenland Minerals in the past 18 months. Shemessian is also believed to control Greenland Minerals' major shareholder, GCM Nominees. The three companies are operated through entities in the Isle of Man and United Arab Emirates, where Shemessian's Exchange Minerals is based.
Other Shemessian companies with stakes in listed Australian companies are registered to a mail forwarding office in Weybridge, Surrey, where Shemessian lives in a gated community.
Greenland Minerals was among the hords of companies to issue an annual report on September 30 - the final day allowed under Australian Securities Exchange listing rules. That day is popular for companies hoping to bury bad news among the deluge of last-minute reports.
Few companies can rival Greenland Minerals when it comes to having bad news to bury. Fewer have done such a fine job of burying it.
Greenland Minerals revealed a $164 million blow-out to its net loss for 2007-08 financial year. Instead of notching a $38.54 million accumulated loss, Greenland Minerals revised that to $202.96 million.
Instead of spending $87.7 million on ''capitalised expenditure and evaluation expenditure'', as stated last financial year, Greenland Minerals shareholders have been told that figure was $22.3 million.
Instead of $34 million of unexercised options on issue, Greenland Minerals has told shareholders it has $155 million in its ''option reserve''.
All that news is tucked behind a picture of a snow-capped peak in Greenland, behind the company's corporate governance statement, behind the directors' remuneration report, and behind the auditors' statement from Deloitte Touche Tohmatsu.
The information can be found on page 51 of the 71-page financial statement, in note 21 to its accounts.
Shareholders have been told the acquisition of Chahood Capital, a company believed to be controlled by Shemessian, was wrongly counted as part of the ''capitalised exploration and evaluation expenditure'' under Australian Accounting Standard AASB 3, relating to ''business combinations''.
That deal should have instead be treated under Australian Accounting Standard AASB 2, relating to ''share-based payments''. The net result of that error is that $65.35 million was wrongly added to the company's mining expenditure costs.
The note to the accounts also informs shareholders that the value of options and shares issued to corporate adviser Gravner ''did not appropriately reflect the relevant grant date and vesting conditions''. As a result, a further $127.6 million of options and $43.8 million of shares have been issued to Gravner in lieu of cash payment for services.
A spokesman for Greenland Minerals told Full Disclosure that the issuing of $127 million of options to Gravner was done ''with shareholder approval'' and that the changes to the previous year's profit were the result of a ''change in accounting practices''.
To further confuse shareholders, reference to the $127.6 million of options paid out is listed as ''$127,587 thousand''. A huge $171 million increase in equity-based payments made by Greenland Minerals last financial year is described in the accounts signed-off by Deloitte as ''$171,378 thousand''.
A leading Melbourne taxation accountant who looked over the Greenland Minerals financial statement laughed when he examined the figures.''I guess that's how they do things in Perth,'' he said.
The accountant, who audits several ASX-listed companies, highlighted that Greenland Minerals had included $156.5 million worth of unexercised options as equity ''reserves'' on the balance sheet.
''I can only assume it's been done because they are payment to advisers in lieu of cash and therefore have some alleged worth,'' he said.
Without including the unexercised options, Greenland Minerals has negative assets of $110 million. In addition to the remarkable value of options issued to Gravner, three Greenland Minerals' directors have also received $8.42 million of options each as a share-based payment. They were chief executive Roderick Claude McIlree and executive directors Jeremy Whybrow and Simon Cato.
As part of its corporate advisory deal with Gravner, Greenland Minerals is paying the company $20,000 a month in fees, plus $20,000 a month in expenses on a three-year contract worth more than $1.4 million. McIlree was on holiday and unavailable for comment yesterday.
Asked what percentage of the company Shemessian controlled, the spokesman said: ''It is inappropriate for the company to answer this question as to the best of its knowledge, no company controls more than 20 per cent. Greenland Minerals has requested both Gravner and GCM file substantial shareholder notices.''
Gravner was a corporate adviser to Boss Energy in 2007 - a company that attracted the attention of law enforcement agencies. In its top 20 shareholders were convicted drug trafficker Amad ''Jay'' Malkoun and bikie Adrian Pamplin.
Under the Boss Energy deal, Gravner was paid a cash retainer of $20,000 per month rising to $40,000 over a two-year period, plus expenses.
The independent expert's report compiled by VMC Global warned shareholders that Gravner could acquire up to 49 per cent control of Boss and obtain ''significant influence over the company''.
Full Disclosure tried to contact Mihran Shemessian for his comments but he did not respond to our inquiry.
http://www.theage.com.au/business/miner-greenland-buries-bad…
Trading Spotlight
Antwort auf Beitrag Nr.: 38.118.853 von MFC500 am 05.10.09 21:13:50Moin!
Na da hat GGG ja momentan eine gewaltige Medienpräsenz... Kann ja eigentlich nicht schaden!
Und noch ein Artikel; wieder aus "The Australien", nur vom 5.10. und auch über GGG:
http://www.theaustralian.news.com.au/business/story/0,28124,…
MfG
Alkanivorax
Na da hat GGG ja momentan eine gewaltige Medienpräsenz... Kann ja eigentlich nicht schaden!
Und noch ein Artikel; wieder aus "The Australien", nur vom 5.10. und auch über GGG:
http://www.theaustralian.news.com.au/business/story/0,28124,…
MfG
Alkanivorax
06.10.09
AUSTRALIAN company Greenland Minerals and Energy is sitting on arguably the world's biggest rare earths deposit, one that some say could go a long way to breaking China's monopoly in the growing sector.
But China's stranglehold will remain unthreatened as long as Greenland's newly elected socialist government continues to ban mining at the deposit because it will need to produce uranium as a by-product.
According to Greenland Minerals, Greenland's zero-tolerance approach to uranium mining is being reviewed as the country prepares to take full sovereignty from Denmark over its natural resources in January.
As a result, the junior is increasing its lobbying of the 80,000 people who live in Greenland to back the project.
Rare earths hit the spotlight in Australia recently when China Nonferrous Metal Mining (CNMC) made a $500 million tilt for Lynas, which claims its Mount Weld deposit in Western Australia is the world's richest.
CNMC walked, however, because Australia's Foreign Investment Review Board would not let China take a stake of 50 per cent or more in Lynas -- partly because the Asian nation already controls 95 per cent of the world's rare earth production.
Rare earths are used in products from mobile phones and low-energy light bulbs to hybrid cars and missile guidance systems.
China has slashed exports of rare earths every year since the start of the decade, much to the despair of Japan, which has plans to forge ahead in new markets, such as electric cars.
Those restrictions have sent the likes of Toyota and Japan's largest trading houses scrambling to secure more supply, with government sources in Tokyo describing a "panic mentality" among some large industrial groups.
Greenland Minerals' shares jumped 12 per cent to 45c yesterday, pushing its market value to $100m, after a British newspaper report said the company's Kvanefjeld deposit could shift the balance of power in the supply of rare earths metals.
The report did not mention the deposit could not currently be mined under Greenland laws because of its uranium content.
Greenland Minerals general manager John Mair said the government had not given a timetable for its review of uranium restrictions but that the company was hoping it would be finished in the first half of next year.
He said conversations with the government had been positive and that the government might change its policy from one of zero tolerance to allowing uranium to be mined as a by-product.
Chief executive Roderick McIllree was more forthright.
"This site is a country-maker for Greenland and the first big opportunity to represent a monopoly-breaker of Chinese dominance," he said.
Greenland Minerals is a lot more optimistic than it was mid-year, when it was forced into a trading suspension amid reports the new government would not allow the deposit to be mined.
It started trading again in July, stating English translations of reports had contained factual errors and that the government had not made up its mind on uranium mining.
The deposit, still in pre-feasibility stage, is undoubtedly huge and could have annual production of about 40,000 tonnes of rare earths and 3000 tonnes of uranium oxide in 2014 if all goes well.
That is about twice the size of Lynas's proposed rare earths output and just short of the biggest mine in China, which produces at about 50,000 tonnes a year.
http://www.theaustralian.news.com.au/business/story/0,28124,…
AUSTRALIAN company Greenland Minerals and Energy is sitting on arguably the world's biggest rare earths deposit, one that some say could go a long way to breaking China's monopoly in the growing sector.
But China's stranglehold will remain unthreatened as long as Greenland's newly elected socialist government continues to ban mining at the deposit because it will need to produce uranium as a by-product.
According to Greenland Minerals, Greenland's zero-tolerance approach to uranium mining is being reviewed as the country prepares to take full sovereignty from Denmark over its natural resources in January.
As a result, the junior is increasing its lobbying of the 80,000 people who live in Greenland to back the project.
Rare earths hit the spotlight in Australia recently when China Nonferrous Metal Mining (CNMC) made a $500 million tilt for Lynas, which claims its Mount Weld deposit in Western Australia is the world's richest.
CNMC walked, however, because Australia's Foreign Investment Review Board would not let China take a stake of 50 per cent or more in Lynas -- partly because the Asian nation already controls 95 per cent of the world's rare earth production.
Rare earths are used in products from mobile phones and low-energy light bulbs to hybrid cars and missile guidance systems.
China has slashed exports of rare earths every year since the start of the decade, much to the despair of Japan, which has plans to forge ahead in new markets, such as electric cars.
Those restrictions have sent the likes of Toyota and Japan's largest trading houses scrambling to secure more supply, with government sources in Tokyo describing a "panic mentality" among some large industrial groups.
Greenland Minerals' shares jumped 12 per cent to 45c yesterday, pushing its market value to $100m, after a British newspaper report said the company's Kvanefjeld deposit could shift the balance of power in the supply of rare earths metals.
The report did not mention the deposit could not currently be mined under Greenland laws because of its uranium content.
Greenland Minerals general manager John Mair said the government had not given a timetable for its review of uranium restrictions but that the company was hoping it would be finished in the first half of next year.
He said conversations with the government had been positive and that the government might change its policy from one of zero tolerance to allowing uranium to be mined as a by-product.
Chief executive Roderick McIllree was more forthright.
"This site is a country-maker for Greenland and the first big opportunity to represent a monopoly-breaker of Chinese dominance," he said.
Greenland Minerals is a lot more optimistic than it was mid-year, when it was forced into a trading suspension amid reports the new government would not allow the deposit to be mined.
It started trading again in July, stating English translations of reports had contained factual errors and that the government had not made up its mind on uranium mining.
The deposit, still in pre-feasibility stage, is undoubtedly huge and could have annual production of about 40,000 tonnes of rare earths and 3000 tonnes of uranium oxide in 2014 if all goes well.
That is about twice the size of Lynas's proposed rare earths output and just short of the biggest mine in China, which produces at about 50,000 tonnes a year.
http://www.theaustralian.news.com.au/business/story/0,28124,…
Moin!
Vor ein paar Tagen gab es ein "Update on activities in Greenland". Steht eigentlich nichts Neues drin. Bemerkenswert ist allerdings folgender Satz: "The public forum meetings (...) indicated a lot of strong support from the community for the project to advance into a Definitive Feasibility Study (...)". Das größere Problem ist also eher die Politik als die Angst der Bürger.
http://www.asx.com.au/asxpdf/20090930/pdf/31l137ms897s8z.pdf
Gleichzeitig gab´s auch noch den Jahresbericht, in dem die Fertigstellung der PFS für Ende 2009 angekündigt wird.
http://www.asx.com.au/asxpdf/20090930/pdf/31l223m7jhj86t.pdf
MfG
Alkanivorax
Vor ein paar Tagen gab es ein "Update on activities in Greenland". Steht eigentlich nichts Neues drin. Bemerkenswert ist allerdings folgender Satz: "The public forum meetings (...) indicated a lot of strong support from the community for the project to advance into a Definitive Feasibility Study (...)". Das größere Problem ist also eher die Politik als die Angst der Bürger.
http://www.asx.com.au/asxpdf/20090930/pdf/31l137ms897s8z.pdf
Gleichzeitig gab´s auch noch den Jahresbericht, in dem die Fertigstellung der PFS für Ende 2009 angekündigt wird.
http://www.asx.com.au/asxpdf/20090930/pdf/31l223m7jhj86t.pdf
MfG
Alkanivorax
schaut so aus, als ob die aktuelle Überbewertung wieder abgebaut wird ... 
Werde den Wert jedenfalls weiterhin beobachten ...
Werde den Wert jedenfalls weiterhin beobachten ...
ich warte nach wie vor auf meien Chance --- aus meiner Sicht muss der kurs noch um einiges weiter runter, damit sich ein Einstieg auszahlt .....
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Greenland Minerals -112Mio lb U3O8 Inferred
