GGG 6.25% 15.0¢ greenland minerals limited

placement 1 dollar

  1. 20,225 Posts.
    lightbulb Created with Sketch. 227
    What a bunch of crooks the sp has never seen $1 but they are happy to give a buddy palcement away down there

    The Gold Company Limited
    Ground Floor, 33 Colin Street, West Perth, W.A. 6005
    +61 (0) 8 92261100
    Tuesday, July 17, 2007
    The Manager ASX
    Company Announcements
    Finalisation of placement
    The company advise that it has finalised an AU$8.8 million capital raising at AU$1.00. This
    capital raising was foreshadowed in the notice of meeting recently sent to shareholders for the
    meeting to be held on 31 July 2007.
    The funds will be raised from four parties including three international mineral investment funds,
    with the great majority being placed with Sampension, one of Denmark’s leading managers of
    Danish Governmental superannuation funds (
    For those that are unfamiliar with the political situation in Greenland, Greenland has its own
    premier and Parliament and handles its own domestic affairs. Denmark is in charge of Greenland's
    defense and foreign policy and provides the island with an annual subsidy.
    The company is particularly heartened by this development as the pricing of this placement reflects
    a significant premium to the raising completed in tandem at 25 cents (arranged prior to the
    recommencement of trading on 23rd May 2007).
    The broker to the issue said “along with Sampension the focus was on introducing a specialist
    group of investors who have a long term, in-depth understanding and interest in uranium and
    consider that an investment in the company offers exposure to a truly unique world class
    project. We had firm interest from a number of other institutions but the company limited the size
    of the offering.”
    The raising is subject to shareholder approval on 31st July 2007, and was flagged in the previously
    announced notice of meeting. When approved by shareholders, the company expects to have
    approximately AU$15M after funding exploration to the end of July, ($2,200,000) and cash
    acquisition costs for our Kvanefjeld project ($3,000,000). With the arrangement of this placement
    the company how has more than sufficient capital to fund the next two years exploration.
    Yours faithfully,
    Roderick McIllree
    Managing Director
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