Greenland Minerals and Energy readies to raise

2015-08-21 02:12:55

(MENAFN- ProactiveInvestors)

Greenland Minerals and Energy (ASX:GGG) is focussed on its Kvanefjeld rare earth-uranium project in Greenland.

Kvanefjeld is one of the most advanced undeveloped rare earth and uranium projects globally with a maiden Ore Reserve of 108 million tonnes at 362ppm U3O8 2600ppm zinc and 14300ppm total rare earth oxides.

This is sufficient to underpin an initial 37 year mine-life.

The project is poised to be a globally significant producer of high-value critical rare earth concentrates in the lowest cost quartile.

The company has now been granted an ASX trading halt pending details of a capital raising.

The halt will last until the opening of trade on Tuesday 25th August 2015 or earlier if an announcement is made to the market.

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