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Greenland Minerals and Energy's substantial holder lifts stake as shares rally

GGG's is currently trading at a 12-month high of $0.17 per share.
Greenland Minerals and Energy's substantial holder lifts stake as shares rally
Global X now holds 8.06%

Greenland Minerals and Energy's (ASX:GGG) substantial shareholder, Global X Management Co, has once again lifted its stake in the company.

Global X now holds 8.06%, up from 7.04%,

Global X Management Co is advisor to the exchange traded fund known as Global X Uranium ETF.

The ETF provides investors with access to a broad range of uranium mining companies and is one of very few ETFs with a primary focus on the uranium market.

GGG is focused on Kvanefjeld, one of the world's most advanced rare earth and uranium projects.

The project hosts JORC resources of over 1 billion tonnes containing 11.1 million tonnes of rare earth oxide and 593 million pounds of uranium.

Share price re-rating

GGG's shares have been on a tear recently, firstly after forming a strategic relationship with a subsidiary of Shenghe Resources Holding Co Ltd (SHA:600392).

Shenghe is a leading rare earth company with experience in all parts of the rare earth industrial chain including mining, beneficiation, metallurgy, separation, downstream processing and marketing.

GGG has then been driven higher by the rebounding uranium price, which has climbed circa 40% over the past three months.

The company's shares hit a 12-month high yesterday of $0.17, or about five-times their value from this time last year.

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