Greenland Minerals and Energy (ASX: GGG) is a mineral exploration and development company, focused on unlocking the mineral riches of Greenland, one of the world’s last natural resource frontiers.
The company strategy is to identify large mineral deposits with the potential to underpin long term, economically robust mining operations.
Greenland Mineral's flagship project is Kvanefjeld, a multi-element deposit located near the southwest tip of Greenland. Through focused exploration, Kvanefjeld is rapidly growing to become one to the world’s largest undeveloped deposits of rare earth elements, uranium and naturally occurring sodium fluoride.
Greenland Minerals & Energy enlists London investment bank’s aid
Greenland Minerals & Energy (ASX: GGG) has appointed London-based investment bank Evolution Securities as its broker and corporate adviser as the company prepares for its next stage of growth.
The Perth-based Greenland explorer, which is advancing the Kvanefjeld rare earths, uranium and zinc project in Greenland, hopes with the assistance of Evolution to access northern hemisphere capital markets to help in the future financing of what the company believes will become a mining operation of strategic importance for western high tech industries as well as the world’s energy needs.
In addition, Greenland may pursue a stock exchange listing in London down the track and has enlisted the bank to advise on this process.
Its flagship Kvanefjeld asset is the first of a series of prospective areas to be drilled within the group’s exploration license over the northern Ilimaussaq Complex in southern Greenland.
“Now we have a strong resource base and a better feel for the resource potential of the overall license area, we are focused on building the foundations of a world class mining project,” said Greenland managing director Roderick McIllree.
Kvanefjeld is now the subject of a pre-feasibility study that is scheduled for completion late in 2009.
