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Greenland Minerals and Energy director buys shares on-market

The company is developing its flagship 100% owned Kvanefjeld Project in Greenland.
three empty board room seats
Cato paid $18,385 for his on-market share purchases

Greenland Minerals and Energy Ltd (ASX:GGG) has had non-executive director, Simon Cato, increase his shareholding in the company.

Cato purchased 200,000 shares on-market increasing his total holding in the company to over 6.3 million shares.

The board member also sold 410,000 listed company options but the share purchase value was more than double the proceeds from the option sale.

READ:  Greenland Minerals and Energy progressing US$1.59 billion clean energy project

Greenland Minerals owns 100% of the large-scale Kvanefjeld Project in Greenland.

It is projected to be one of the largest producers globally of key magnet metals along with by‐production of uranium and zinc.

A globally significant project

Greenland Minerals' vision is to develop a stable, long-term source of materials for clean energy generation and energy efficient technologies.

Kvanefjeld is one of the world's most advanced rare earth and uranium projects with defined JORC compliant resources of over 1 billion tonnes containing 11.1 million tonnes of rare earth oxide and 593 million pounds of uranium.

READ: Greenland Minerals and Energy buoyed by large increases in rare earth concentrate grades

Most recently, the company received further promising results from the optimisation program being conducted at Kvanefjeld.

Major shareholder Shenghe Resources Holding Co Ltd (SHA:600392) and Greenland Minerals are conducting technical work programs.

These are aimed at improving the metallurgical performance and cost-structure of the Kvanefjeld project

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