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Market: ASX
Sector: General Mining
Epic: .GGG
News: Latest news
Web Site: Greenland Minerals and Energy
Other Articles: 03-02-201001-02-201031-01-2010

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Greenland Minerals and Energy

Greenland Minerals and Energy

Greenland Minerals and Energy Ltd, is a mineral exploration and development company, focused on unlocking the mineral riches of Greenland, one of the world’s last natural resource frontiers. Our aim is simple; to identify large mineral deposits with the potential to underpin long term, economically robust mining operations. This is achieved through technically-focused exploration, aggressive resource development programs, and a strong understanding of the fundamentals that drive the business of mineral exploration and development globally.

Our 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, commodities with long term forecasts for strong demand increases.

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Sunday, January 31, 2010

Greenland Minerals and Energy to update market on Kvanefjeld Pre-Feasibility Study

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Rare earths explorer Greenland Minerals and Energy (ASX: GGG) has reported it will provide an update to the market on February 1st. An interim report on the Kvanefjeld Pre-Feasibility Study has been completed and is currently under review prior to finalisation.

The company held $7.6 million in cash reserves at December end. Issued capital of the company is 229.6 million ordinary shares.

During the December quarter, Greenland Minerals focussed on compiling an Interim Report on the Kvanefjeld Pre‐Feasibility study. This study has been the Company’s main activity throughout 2009 and aims to demonstrate the viability of a multi‐element mining operation at Kvanefjeld.

The Company’s flagship project is the Kvanefjeld multi‐element deposit (Rare Earth Elements, Zinc, Uranium).  The northern Ilimaussaq Complex offers the potential for multielement resources of potentially vast scale.  Resources that could restore balance to the global supply of rare earth elements.

The Company said it remains confident it can provide a clear indication that Kvanefjeld could be developed as an economically robust, large‐scale mining operation. Through work programs conducted to date, the Company has identified several areas in which the process flow sheet could be enhanced.

In 2010, further metallurgical test work will evaluate these opportunities, before finalisation of the process flow sheet that will be taken into a Definitive Feasibility Study.

A new Mineral Resources Act that was approved by the Greenland Government on 27th November 2009 came into effect on 1st January 2010.

Greenland Minerals said it views this step as a key milestone for Greenland on its path to self rule. With a handover of mineral and hydrocarbon rights from Denmark to Greenland expected to be completed in the near future.

 

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