Proactiveinvestors Australia

Greenland Minerals and Energy Limited comprises a diverse team of minerals industry professionals with a shared vision. That vision is to discover and advance mineral resource projects through technical excellence and solid business and financial management, thereby generating wealth for our shareholders. We view the minerals industry as a global one, and in our assessment of favorable destinations for mineral exploration, Greenland meets all our criteria.

Greenland is a stable geopolitical region that is embracing natural resource development as the future foundation of its economy. It is highly prospective for a wide range of commodities, and remains grossly underexplored. Much of Greenland’s interior is covered by an icesheet, however, coastal areas are well exposed and provide a transect across the diverse geology of Greenland, exposing numerous mineral belts.

Our foray into Greenland commenced with the acquisition of the Kvanefjeld multi-element deposit. Historically, the Kvanefjeld deposit was investigated as a potential uranium resource by the Danish Atomic Energy Agency, who carried out a study on the deposit in the early 1980s. During this phase of work, uranium concentrations were obtained by spectral logging of drill cores, rather than geochemical methods. As a result, concentrations of other minerals of economic interest in the deposit remained largely unknown, along with the true value of the ores. Our team evaluated the geological setting and characteristics of the deposit, and concluded that it was potentially a lot more than a modest uranium occurrence, and that it was likely to represent a resource of a far larger scale that could contain economic concentrations of numerous other metals, particularly Rare Earth Elements (REEs). Since acquiring the project in mid-2007, aggressive exploration has proved this to be correct, and Kvanefjeld is rapidly growing to become one of the world’s largest undeveloped resources of rare earth elements, uranium and naturally-occurring sodium fluoride.

While there exists a perception that Greenland is remote, and logistically challenged, there are many inherent benefits to the natural geography of Greenland. Firstly, it is strategically located between North American and European markets. Southern Greenland is located at a lower latitude than much of Alaska, and the Yukon and Norwest Territories of Canada – all regions popular amongst mineral explorers and miners. Deep water fjords cut into the coastal fringes of Greenland meaning that most areas suitable for exploration are close to potential deepwater port facilities. The main source of power in Greenland is hydroelectricity, which has the scope to be expanded to facilitate large mining operations. We have no doubt that Greenland will soon be a global hot spot for mineral exploration and development.

Kvanefjeld Project – Rare Earth Elements, Uranium, Sodium Fluoride

Kvanefjeld is an emerging multi-element deposit hosted within marginal phases of the Ilimaussaq Intrusive Complex, located near the southwest tip of Greenland. The deposit is exposed at surface along a series of undulating bluffs on a broad peninsula surrounded by deepwater fjords that run directly out to the Atlantic Ocean. Greenland Minerals and Energy acquired the project in mid-2007 and immediately launched a field program that included airborne radiometric and magnetic surveys, environmental studies, geological investigations and a 10,000m diamond drill program.

The 2007 drill program and geological work formed the basis for a first JORC-compliant resource estimation for the Kvanefjeld deposit that was announced to the Australian Securities Exchange in May, 2008. The resource was subsequently updated in August 2008 as more assay data from the 2007 drill program became available. The results of the 2007 field program were considered extremely encouraging, and in 2008 the company undertook a second large-scale exploration program during which a further 19,300 m of core were drilled. The majority of these meters were drilled into Kvanefjeld, with the aim to improve the JORC resource category from “Inferred” to “Indicated”, as well as increasing the overall resource base. This aim was certainly acheived, and Kvanefjeld is now clearly one of the largest multi-element deposits of its kind globally. During the 2008 field season, a number of new multi-element targets were also drill tested.

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New Multi-Element Targets and Overall Resource Potential

During the 2008 field season, a series of anomalies identified from the 2007 airborne radiometric survey were followed up with geological mapping and ground based-radiometric surveys. This confirmed numerous new zones of lujavrite (host to multi-element ores at Kvanefjeld; see Kvanefjeld section), that clearly warranted drill testing. 

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Mr Michael Hutchinson, BSc
Non-Executive Chairman
Mr Hutchinson has had a distinguished career as a longstanding director of the London Metal Exchange, the world's largest market in options and futures contracts on base and other metals. Mr Hutchinson brings a wealth of experience to the board, and his visibility in global financial markets will benefit the Company immensely as it advances its projects in Greenland. Mr Hutchinson is also the current chairman of RBS Sempra Metals Limited, and Wogen PLC; a trader of off-exchange metals that sources metals worldwide for industrial end users. In addition, Mr Hutchinson previously served as a director of MG PLC.

Mr Roderick McIllree,
B.Sc. (Mineral Exploration and Mining Geology), Grad Dip. (Mineral Economics) MAusIMM
Managing Director
Mr McIllree graduated from Curtin University of Technology in 1996 with a Bachelor of Science degree (Mineral Exploration and Mining Geology) and commenced a career in the mining industry where he worked for major mining companies both domestically and internationally, gaining experience in all facets of mining. Mr McIllree moved to the finance sector in 2000 and worked as an analyst and coporate advisor for Stockbroking houses active in capital markets. He has experience in international capital raisings having initiated several successful mining companies with assets both domestically and overseas. Mr McIllree was instrumental in sourcing the Kvanefjeld project for the company. 

Mr Simon Cato, B.A., MSDIA
Executive Director
Mr Simon Cato has had over 20 years capital markets experience in both broking and regulatory roles.  He has been employed by the ASX in Sydney and in Perth in the Company's department which oversees the activities of listed companies. Over the last 12 years he has been an executive director of two stockbroking firms and in those roles he has been involved in many aspects of broking including management issues such as credit control and reporting to regulatory bodies in the securities industry. As a broker he has also been involved in the underwriting of a number of initial public offers and has been through the process of an initial public offer listing in a dual role of broker and director.

Mr Jeremy Whybrow,
B.Sc. (Mineral Exploration and Mining Geology), G.Dip (Mineral Economics), MAusIMM
Exploration Director
Mr Whybrow has had over 12 years experience in the mining industry both domestically and internationally.  Mr Whybrow has worked for companies such as Sons of Gwalia Ltd, PacMin Ltd, Teck Australia Ltd, Mount Edon Gold Mines Ltd and Croesus Mining NL.  His experience has been mainly in the operational environment and includes significant exposure to exploration and mining operations, project evaluation and feasibility studies. Previously, Mr Whybrow has worked internationally in China, Africa and the Philippines as well as numerous localities in Australia.

Mr Tony Ho, B. Com, CA, FAICD, FCIS
Non-Executive Director
Mr Ho is an experienced company director having held executive directors and chief financial officer roles with a number of publicly listed companies.  Tony was executive director of Arthur Yates & Co Limited, retiring from that position in April 2002.  His corporate and governance experience include being chief financial officer/finance director of M.S. McLeod Holdings Limited, Galore Group Limited, the Edward H O'Brien group of companies and Volante Group Limited. Mr Ho is currently a non-executive director of Dolomatrix International Limited where he chairs the Audit and Compliance Committee.  He is also the non-executive chairman of St George Community Housing Limited, the largest community housing company in New South Wales.

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