https://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Thu, 15 Nov 2018 15:10:23 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Greenland Minerals works toward mine licence for Kvanefjeld rare earths ]]> https://www.proactiveinvestors.com.au/companies/news/208079/greenland-minerals-works-toward-mine-licence-for-kvanefjeld-rare-earths-208079.html Greenland Minerals and Energy Limited (ASX:GGG) (FRA:G7P) (OTCMKTS:GDLNF) managing director Dr John Mair has described the company’s large Kvanefjeld magnet metals project in in the Danish territory as having a “simple processing path.”

Mair, who was speaking at last week’s Greenland Day Perth, is advancing a company agenda to reduce capital costs for its wholly-owned project, as part of a multi-disciplinary team.

READ: Greenland Minerals reduces Kvanefjeld costs, optimises civil engineering design

Greenland Minerals’ leader Mair has a PhD in economic geology and extensive international experience across a range of commodities.

He became the managing director of Greenland Minerals in 2014 after first becoming involved with Greenland in 2008.

MD Mair told delegates at Greenland Day last Wednesday that Kvanefjeld was the company’s focus.

Mair said: “Our primary focus has been, since we stepped into Greenland — a little over 10 years (ago) — has been on a project called Kvanefjeld.

“It’s very unique, primarily a rare earths project, a very unusual polymetallic project that also involves uranium, some zinc, as well as industrial (elements) … in terms of projected product output.

“As far as projects like this go, it’s one of the more significant globally — it’s backed by a very significant resource, very unique.”

READ: Greenland Government highlights value of open frontier at Greenland Day Perth

The project features 1.01 billion tonnes grading 1.1% rare earth oxides (REO) with a substantial uranium resource of 593 million pounds, as well as zinc.

As the uranium is recovered at low incremental cost, it would likely be an important by-product revenue stream for Kvanefjeld.

Mair said: “For this kind of project, it lends itself to a very, very simple processing path, which is a real advantage in the space which is typically very, very complex.

“That equates to cost structure and so that sets the project up as being a potential long-term low-cost producer of metals which are going to be very, very important with the coming decades, metals which are fundamental to the clean energy transition to a lot of the … electric carbons.

“That’s primarily what the rare earth’s all about.”

A clean energy future

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

Its flagship project has previously been tipped to become one of the largest producers globally of key magnet metals along with by‐production of uranium and zinc.

Mair said Kvanefjeld had “a deep foundation both at a technical level, in terms of where we’re taking the project commercially, but also in terms of our involvement at a stakeholder level in Greenland.”

He highlighted the company’s flagship project was located near a historic fishing town and had year-round shipping access.

READ: Greenland Minerals welcomes added government support for mining

Mair pointed to the project’s long history, saying: “The project was really started back in the 1950s with some state-sponsored research programs.

“We continued to advance the project and took it to where it currently is now, which is very much a polymetallic approach, that commenced in 2007 and so it’s been a little over 10 years.

“It’s an advanced project, it’s a mature project, there’s close to $100 million of sunk cost across resources, metallurgy, feasibility, environmental work, stakeholder engagement.”

Cost reductions

The Greenland Minerals leader pointed to cost reduction efforts reported on Monday last week, where the company managed to reduce forecasted project costs by making major reductions to the amount of civil earthworks required to prepare the site for an open pit mine and a plant.

With the help of Tetra Tech, the design for a process plant pad was revised heavily and shaped to match the contours of the land, reducing civil construction effort and associated cost.

Greenland Minerals is also hoping to reduce metallurgical processing costs under the guidance of its major shareholder Shenghe Resources Holding Co Ltd (SHA:600392), a leading rare earths company.

Mair said told Greenland Day: “We’re working with Shenghe Resources, which is a Chinese rare earth company but it’s the most internationally focused of China’s rare earth fleet.

“It’s not a state rare earths entity, they’re a major Chinese supplier to the international markets, they’re arguably the strongest company fixed in the rare earths space globally.

“An example of their international pedigree, they’re the group (MP Mine Operations LLC) that’s key in restarting the (open-pit rare-earth-elements) Mountain Pass mine in California.”

Strategic partner Shenghe supplies high‐purity rare earth metals and oxides to end‐users across the globe and has formally agreed to pick up Greenland Minerals’ mine product, or refine and market its rare earth products, to its international customer network.

The parties’ offtake memorandum of understanding was inked in August 2018.

Kvanefjeld’s site location in Greenland

Greenland Minerals reported last week Canadian Civil and Mining Contractor Nuna Logistics, which has arctic expertise, is expected to share a new civil construction cost estimate for Kvanefjeld project in November 2018, which will be based on an updated civil design that quantifies cost reductions.

PND Engineers and China Communications Construction Co (C‐CCC) are also part of the engineering group team hoping to reduce capital costs at the site.

A studied approach

Western Australian company Greenland Minerals has produced a number of studies over the past few years, which its multi-disciplinary team is now updating costings on.

Greenland Minerals is following a government process to earn a mining licence

These include a 2015 feasibility study and updated feasibility study of 2016 which it released after undertaking pilot plant operations and additional engineering studies.

The study predicted a 37-year mine life based on the 108 million tonne ore reserve — a tiny 10% of the JORC-compliant 1.01 billion tonne resource estimate.

Kvanefjeld’s net present value was US$1.59 billion in the 2016 study, with a 43.4% internal rate of return.

Project financing costs were US$831.9 million and the project had a payback period of 5 years.

A JORC graph from the 2016 update to the Kvanefjeld feasibility study envisages expansions to both mine life and capacity

Greenland Minerals is following a process to tick the boxes to achieve a mining licence for Kvanefjeld.

Mair said: “Like Ironbark (Zinc Ltd (ASX:IBG), it’s a long road to get to this type of point with these type of projects, they don’t’ happen overnight.

“But we’re now coming down to the pointy end of going through the approvals, mining licence and then following the footsteps of (fellow Australian company in Greenland) Ironbark and moving onto project finance and also with project development.”

BIG PICTURE: Ironbark Zinc courts build-to-operate partners for Citronen mine as field operations begin

Greenland Minerals lodged an environmental impact assessment (EIA) report with the Greenland Government in August 2018.

A draft EIA had been submitted in late 2015, with the submitted document extensively reviewed by Greenland’s Environmental Agency for Mineral Resource Activities (EAMRA) and its advisory bodies.

GHD Consulting had prepared the document with Orbicon, drawing on the technical expertise of specialists at Arcadis, the Danish Hydraulic Institute, SRK Consulting and the Wood Group.

The final EIA was to be translated into Greenlandic and Danish languages and reviewed in parallel with a public consultation period.

READ: Greenland Minerals lodges EIA for large rare earths project

The rare earths market is changing globally, as China looks to cap primary production of rare earths at 140,000 tonnes a year by 2020 and electric-vehicle battery makers seek long-term supply contracts.

Government policies across the globe are transitioning in electric vehicles and aiming to significantly expand offshore wind-power capacity.

The policies effectively underwrite continued demand growth for neodymium, praseodymium and dysprosium and drive up their prices amid a forecasted supply gap.

The influence of the US, with its focus on energy security, is another factor changing the space, as the North American country looks to firm up supply sources from within its borders and from markets outside China.

Greenland Minerals looks set to become a major new supplier in this changing regime, helping open up Greenland as a destination for mining investment and emerging rare earth projects.

]]>
Tue, 30 Oct 2018 00:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208079/greenland-minerals-works-toward-mine-licence-for-kvanefjeld-rare-earths-208079.html
<![CDATA[News - Greenland Minerals reduces Kvanefjeld costs, optimises civil engineering design ]]> https://www.proactiveinvestors.com.au/companies/news/207516/greenland-minerals-reduces-kvanefjeld-costs-optimises-civil-engineering-design-207516.html Greenland Minerals Ltd (ASX:GGG) is continuing a campaign to drive down capital costs for its magnet metals Kvanefjeld project in Greenland, working to optimise civil engineering design.

The Greenland-focused minerals company has already reduced costs by making major reductions to the amount of civil earthworks required to prepare the site to host a planned open-pit mine.

READ: Greenland Government to profile nation’s mineral sector at Greenland Day Perth next week

Greenland Minerals managing director Dr John Mair told the market: “With an overall goal of reducing capital costs, addressing the civil engineering strategy and civil earth works is an important part of the Kvanefjeld optimisation program. 

“The multi‐disciplinary team of engineering groups that spent time on‐site in September are establishing the optimal ways of maximising the advantages of the project setting to minimise civil works and associated capital costs.”

The company is expecting its Kvanefjeld operation to be a long‐life, low‐cost producer of the key magnet metals neodymium, praseodymium, dysprosium and terbium, having by‐products such as uranium and zinc.

READ: Greenland Minerals welcomes added government support for mining

Mair reported work the company had undertaken with Tetra Tech was complete, reducing the civil earthworks required for site preparation.

A key component of its work was a heavily-revised process plant pad that has been shaped to match the contours of the land and therefore reduce the civil construction effort and associated cost. 

Mair said: “The Tetra Tech study is now with Nuna Logistics who are preparing the civil cost estimation, with outcomes expected in six weeks.

“We look forward to updating on the resulting capital cost reductions.”

READ: Greenland Minerals conducts site visit to optimise rare earths project design

Greenland Minerals’ technical efforts to reduce metallurgical processing costs are being advanced under the guidance of its major shareholder Shenghe Resources Holding Co Ltd, a leading rare earth company.

Shenghe supplies high‐purity rare earth metals and oxides to end‐users across the globe and has formally agreed to pick up Greenland Minerals’ mine product, or refine and market its rare earth products, to the international customer network.

PND Engineers and China Communications Construction Co (C‐CCC) are also part of the team hoping to reduce capital costs at the site.

Greenland Minerals reported today Canadian Civil and Mining Contractor Nuna Logistics, which has arctic expertise, is expected to share a new civil construction cost estimate for Kvanefjeld project in November, which will be based on an updated civil design that quantifies cost reductions.

Older models for engineering design and capital costings are found in Greenland Minerals’ 2015 feasibility study and updated Feasibility Study of 2016 which it released after undertaking pilot plant operations and additional engineering studies.

Greenland Minerals will be among a number of Australian companies to join the Government of Greenland at the free walk-in event Greenland Day Perth this Wednesday at the University of Western Australia’s University Club in Crawley. To view a program, click here. To RSVP or request a one-to-one meeting with a government official, email Dr Anna Vass at anva@nanoq.gl.

]]>
Sun, 21 Oct 2018 21:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207516/greenland-minerals-reduces-kvanefjeld-costs-optimises-civil-engineering-design-207516.html
<![CDATA[News - Greenland Minerals welcomes added government support for mining ]]> https://www.proactiveinvestors.com.au/companies/news/206841/greenland-minerals-welcomes-added-government-support-for-mining-206841.html Greenland Minerals Ltd (ASX:GGG) has welcomed the slight change to the ruling coalition government in Greenland.

The new coalition government includes the Democrat Party, which previously was not a part of the ruling coalition government.

Notably, the Democrat Party has entered into an agreement with the coalition to support key areas including mining, thereby strengthening the government’s position.

Government reaffirms support, next stage of licensing imminent

Furthermore, the government has reaffirmed its support for rare earth and associated uranium extraction.

It has acknowledged that with substantial research and assessment completed, the time to move the licensing process to the next stage of public consultations is imminent.

READ: Greenland Minerals managing director exercises options

Official acceptance of a mining licence application and public consultation requires submission of the EIA, SIA and the Maritime Safety Study in Greenlandic and Danish.

Translations of the Maritime Safety Study and the SIA are complete.

Translations of the EIA are scheduled for completion by the end of October.

Kvanefjeld has a JORC 2012 resource of 1.01 billion tonnes grading 1.1% rare earth oxides (REO) with a substantial uranium resource of 593 million pounds as well as zinc.

]]>
Thu, 11 Oct 2018 12:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/206841/greenland-minerals-welcomes-added-government-support-for-mining-206841.html
<![CDATA[News - Greenland Minerals managing director exercises options ]]> https://www.proactiveinvestors.com.au/companies/news/206441/greenland-minerals-managing-director-exercises-options-206441.html Greenland Minerals Ltd (ASX:GGG) has had yet another option exercise with the company receiving $712,994 from the exercise of 8.91 million 8 cent options.

Of those 8.91 million options exercised, managing director Dr John Mair, was responsible for 375,000 or $30,000 worth.

This is the fifth lot of options that have been exercised since September 2018 and in total, it has provided over $2.1 million in funding for the company.

READ: Greenland Minerals bags another $554,000 through options exercise

It is common for investors to exercise options when they are deep in-the-money, but notably, the recent option exercises have been at 8 cents, which is at-the-money.

Funds from the option exercises will likely go towards developing the company’s flagship 100% owned Kvanefjeld Project in Greenland.

Kvanefjeld has a JORC 2012 resource of 1.01 billion tonnes grading 1.1% rare earth oxides (REO) with a substantial uranium resource of 593 million pounds as well as zinc.

]]>
Fri, 05 Oct 2018 12:55:00 +1000 https://www.proactiveinvestors.com.au/companies/news/206441/greenland-minerals-managing-director-exercises-options-206441.html
<![CDATA[News - Greenland Minerals bags another $554,000 through options exercise ]]> https://www.proactiveinvestors.com.au/companies/news/205923/greenland-minerals-bags-another-554000-through-options-exercise-205923.html Greenland Minerals Ltd (ASX:GGG) has received $554,913 as a result of 6.93 million options being exercised at 8 cents per share.

Notably, the options exercise price is a premium to the last traded price of 7.9 cents, which is a vote of confidence for the company and its future.

This is the fourth options exercise this month, bringing the total funds raised to over $1.4 million from the 8 cent option exercises.

READ: Greenland Minerals receives funds, directors also increase stake

Recently, Greenland Minerals received a share price forecast from Pitt Street Research of between 18 and 43 cents per share.

The company’s flagship Kvanefjeld Project in Greenland has a JORC 2012 resource of 1.01 billion tonnes grading 1.1% rare earth oxides (REO) with a substantial uranium resource of 593 million pounds as well as zinc.

READ: Greenland Minerals has price valuation range of 18-43 cents set by Pitt Street Research

Pitt Street analyst Stuart Roberts said in a new research report, “With the help of Shenghe Resources, a major Chinese rare earths player, we expect Greenland Minerals can move towards an updated feasibility study for the project in the next year or so, with the mine potentially starting up in 2021.”

READ: Greenland Minerals conducts site visit to optimise rare earths project design

Earlier this month, Greenland conducted several engineering studies during a site visit to Kvanefjeld.

The studies were part of a broader optimisation program that is designed to reduce civil works and maximise site-specific advantages.

Engineers from four companies participated, representing a multi-disciplinary cross-section of leading international experts, and strategies were developed to simplify project construction and reduce associated capital costs.

]]>
Fri, 28 Sep 2018 09:04:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205923/greenland-minerals-bags-another-554000-through-options-exercise-205923.html
<![CDATA[News - Greenland Minerals receives funds, directors also increase stake ]]> https://www.proactiveinvestors.com.au/companies/news/205385/greenland-minerals-receives-funds-directors-also-increase-stake-205385.html Greenland Minerals Ltd (ASX:GGG) has received another cash injection from an option exercise worth $466,622.

5.83 million options were exercised at 8 cents generating the cash funding for the company.

Notably, with the company’s shares are trading at 7.9 cents, meaning the option exercise was at a slight premium to the share price.

Two directors buy shares in the company

Some of these options were exercised by board chairman Anthony Ho and director Simon Cato.

Ho exercised $27,000 worth of options and Cato exercised $5,742 worth of the options.

The share acquisitions increased Ho’s total holding to 3.52 million shares and Cato’s total holding to 6.38 million shares.

READ: Greenland Minerals gets another cash injection from options exercise

Notably, this is the third option exercise since August 2018.

The funds will be used by the company to continue its work advancing its flagship Kvanefjeld Project in Greenland.

]]>
Fri, 21 Sep 2018 08:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205385/greenland-minerals-receives-funds-directors-also-increase-stake-205385.html
<![CDATA[News - Greenland Minerals has price valuation range of 18-43 cents set by Pitt Street Research ]]> https://www.proactiveinvestors.com.au/companies/news/205384/greenland-minerals-has-price-valuation-range-of-18-43-cents-set-by-pitt-street-research-205384.html Greenland Minerals Ltd (ASX:GGG) is sitting on one of the world’s largest undeveloped rare earth oxide resources prompting Pitt Street Research to place a valuation range of 18 cents to 43 cents per share.

With this resource supported by uranium and zinc, the Sydney-based issuer-sponsored equity research provider’s valuation range represents a strong premium to the current share price of 8 cents.

Greenland Minerals is a Perth-based resources company focused on the 100%-owned Kvanefjeld Rare Earths Project in Greenland.

Kvanefjeld in southern Greenland hosts one of the world’s most significant rare earth deposits.

READ: Greenland Minerals lodges EIA for large rare earths project

The project has a JORC 2012 resource of 1.01 billion tonnes grading 1.1% rare earth oxides (REO) with a substantial uranium resource of 593 million pounds as well as zinc.

Demand for rare earths is strong given its use in various 21st Century products, most notably electric vehicles, smart electronic products, wind turbines and sophisticated defence equipment.

Pitt Street analyst Stuart Roberts said in a new research report, “With the help of Shenghe Resources, a major Chinese rare earths player, we expect Greenland Minerals can move towards an updated feasibility study for the project in the next year or so, with the mine potentially starting up in 2021.”

READ: Greenland Minerals conducts site visit to optimise rare earths project design

Following are excerpts from the Pitt Street Research report:

Investment case

The Kvanefjeld project has considerable advantages as a rare earths source, most notably its favourable metallurgy and wide spread of critical rare earths.

A steady increase in rare earth and U3O8 prices, further progress on the Kvanefjeld flowsheet, and completion of permitting in Greenland can help drive favourable sentiment and re-rate the stock into our valuation range, and, potentially, beyond.

Valuation range

We value Greenland Minerals at 18 cents per share base case and 43 cents per share optimistic case using a DCF approach with conservative assumptions on rare earths.

Our valuation is highly sensitive to changes in the prices of critical rare earths such as neodymium. Should prices return to the levels assumed in 2015, Kvanefjeld will be a very valuable rare earths mine indeed.

Kvanefjeld’s state of development

Kvanefjeld has gone through an initial feasibility study that was published in May 2015 and updated in April 2016.

These studies envisage a mine life of 37 years with a primary product of ‘critical’ REO, ‘critical’ meaning that these particular rare earths are expected to be in short supply in the future.

An improved cost profile for Kvanefjeld in 2016 suggested average free cash flow of US$376 million p.a, up 14% on the 2015 estimates. In this update, expected capital costs came down markedly, from US$1.36 billion to US$832 million. Greenland Minerals is continuing to work hard on costs.

READ: Greenland Minerals signs offtake MOU with strategic partner Shenghe, shares rise

A key step forward, from late 2016, has been the involvement of a major Chinese rare earths company called Shenghe Resources, which now owns 11% of Greenland Minerals. Shenghe Resources has brought considerable technical expertise into the project as a collaborator as well as a shareholder.

What comes next for Greenland Minerals?

The company expects to work on a feasibility update once the flowsheet has been optimised and the relevant permits have been granted by the Greenland government. After this, Greenland Minerals and its collaborators will move to a bankable feasibility study. In this note, we envisage a start-up of production at Kvanefjeld around 2021.

If Greenland Minerals is so good, why is it capitalised at only $91 million?

We think that the main reason for the apparent undervaluation is concerns that environmental and related permitting issues have some years to progress. We look for a re-rating once permitting has completed and the company can work on an update to its feasibility study.

Re-rating Greenland Minerals

Greenland Minerals’ stock is trading below our base case valuation. We see four factors helping to re-rate Greenland Minerals into our valuation range:

- Success in further test work at the concentrator and the refinery stage of the flowsheet;

- Granting of a mining licence for Kvanefjeld;

- Completion of an updated, or second, feasibility study;

- A binding commercial agreement with Shenghe on future product offtake from Kvanefjeld.

Furthermore, Greenland Minerals has a management team capable of taking Kvanefjeld to the next stage.

Managing director Dr John Mair has been involved with Kvanefjeld since 2008. Since his 2014 appointment as managing director, he has overseen the corporate evolution of Greenland Minerals as a rare earths play aligned closely with Shenghe. CFO Miles Guy brings an accounting and corporate governance background.

The Greenland Minerals board has the kind of skillset required to build an emerging rare earths play, in our view.

The Sydney-based non-executive chairman Tony Ho brings as a commercial background gained mainly in the retail sector. Simon Cato brings a capital markets expertise gained over three decades in the financial services industry. And Xiaolei Guo, a Shenghe executive, brings deep knowledge of the Chinese rare earths sector.

Conclusion: Progress expected with Shenghe’s help

Greenland Minerals has made strong progress over the last two years in moving Kvanefjeld forward.

Sustained increases in rare earths prices, completion of permitting in Greenland and reductions in expected capital and operating costs as Greenland Minerals and Shenghe optimise the flowsheet will help move this high-quality asset forward and contribute to a re-rating of the stock.

]]>
Fri, 21 Sep 2018 08:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205384/greenland-minerals-has-price-valuation-range-of-18-43-cents-set-by-pitt-street-research-205384.html
<![CDATA[News - Greenland Minerals conducts site visit to optimise rare earths project design ]]> https://www.proactiveinvestors.com.au/companies/news/205074/greenland-minerals-conducts-site-visit-to-optimise-rare-earths-project-design-205074.html Greenland Minerals Ltd (ASX:GGG) has conducted several engineering studies during a site visit to its Kvanefjeld Rare Earths Project in Greenland.

The studies are part of a broader optimisation program that is designed to reduce civil works and maximise site-specific advantages.

Engineers from four companies participated, representing a multi-disciplinary cross-section of leading international experts, and strategies were developed to simplify project construction and reduce associated capital costs.

READ: Greenland Minerals lodges EIA for large rare earths project

Information gathered by the engineering groups will feed into the broader program that will see design revisions to civil construction and port and plant sites.

This will substantially reduce civil earth works and amounts of imported construction materials.

Reports are now being prepared that will update designs and capital costs for specific areas of the project.

Engineering groups that participated were: PND Engineers, from the USA; Nuna Logistics, from Canada; Tetra Tech, based in California; and China Communications Construction Co Ltd, China’s largest engineering and construction company.

READ: Greenland Minerals gets another cash injection from options exercise

Following the on-site investigation, the engineering groups confirmed that the construction of Kvanefjeld had no major impediments and would be relatively straightforward, owing to a number of site-specific advantages which include:

Infrastructure benefits including port and fuel storage;

Local labour available from the early construction phase and into mine development;

High-quality construction-suitable rock material on-site, to be used for roads, culverts, and other construction;

Year-round shipping access for fuels, construction material and labour; and

Winters on the southern tip of Greenland are not exceptionally cold, allowing for year-round construction.

READ: Greenland Minerals advances Kvanefjeld after inaugural safeguards inspection

The company finalised Kvanefjeld’s pre-feasibility in 2012 and a comprehensive feasibility study was completed in 2015, which was updated after pilot plant operations in 2016.

The studies highlight the potential to develop Kvanefjeld as a long-life, low-cost and large-scale producer of rare earth elements, key enablers to the electrification of transport systems.

Greenland Minerals aims to become a supplier of the key magnet metals neodymium, praseodymium, dysprosium and terbium.

]]>
Mon, 17 Sep 2018 22:58:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205074/greenland-minerals-conducts-site-visit-to-optimise-rare-earths-project-design-205074.html
<![CDATA[News - Greenland Minerals gets another cash injection from options exercise ]]> https://www.proactiveinvestors.com.au/companies/news/204879/greenland-minerals-gets-another-cash-injection-from-options-exercise-204879.html Greenland Minerals and Energy Ltd (ASX:GGG) has received another vote of confidence as 3.92 million options were exercised at 8 cents, resulting in $314,149 for the company.

This option exercise follows other recent exercises of 750,000 options on 4 September 2018 and 816,258 options on 28 August 2018.

All three of the recent option exercises have been at an 8 cent strike price, which is only a slight discount to the current 8.2 cent strike price.

Options are regularly exercised at a significant discount to the share price so these option exercises are a show of confidence in the company.

READ: Greenland Minerals lodges EIA for large rare earths project

The company continues to advance the development of its flagship Kvanefjeld Project in Greenland.

Most recently, Greenland lodged an environmental impact assessment (EIA) for Kvanefjeld.

This comes after extensive reviews by Greenland’s Environmental Agency for Mineral Resource Activities (EAMRA) and its advisory bodies since the draft EIA was submitted in late 2015.

The EIA will be reviewed in parallel with undergoing translation into Greenlandic and Danish in preparation for a consultation period.

READ: Greenland Minerals signs off-take MoU with strategic partner Shenghe, shares rise

Recently, the company also signed a non-binding memorandum of understanding (MoU) related to off-take from Kvanefjeld.

The MoU was with major shareholder and strategic partner Shenghe and established a framework to enter future binding agreements.

The MoU covers two key areas; (1) product off-take and marketing of rare earth products produced from Kvanefjeld, and (2) strategic development execution.

]]>
Fri, 14 Sep 2018 08:49:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204879/greenland-minerals-gets-another-cash-injection-from-options-exercise-204879.html
<![CDATA[News - Greenland Minerals lodges EIA for large rare earths project ]]> https://www.proactiveinvestors.com.au/companies/news/204013/greenland-minerals-lodges-eia-for-large-rare-earths-project-204013.html Greenland Minerals Ltd (ASX:GGG) has lodged an environmental impact assessment (EIA) for its Kvanefjeld Rare Earths Project in Greenland.

This comes after extensive reviews by Greenland’s Environmental Agency for Mineral Resource Activities (EAMRA) and its advisory bodies since the draft EIA was submitted in late 2015.

The document was prepared by GHD Consulting in conjunction with Orbicon, with a number of other technical specialists contributing including Arcadis, the Danish Hydraulic Institute, SRK Consulting and the Wood Group.

The Kvanefjeld project is projected to be one of the largest global producers of key magnet metals including neodymium, praseodymium, dysprosium and terbium, along with by‐products of uranium and zinc.

READ: Greenland Minerals advances Kvanefjeld after inaugural safeguards inspection

The EIA will be reviewed in parallel to undergoing translation into Greenlandic and Danish in preparation for a consultation period.

Senior company representatives will be in Greenland early this month for meetings with government representatives to map out the timing of the public consultation period and follow-up steps.

READ: Greenland Minerals signs off-take MoU with strategic partner Shenghe, shares rise

Due to the consistent and constructive dialogue since lodgement of the draft EIA, there is a strong familiarity with the EIA content and supporting studies within EAMRA and their advisory groups.

This interchange has guided additional technical studies and the expansion of datasets which have been incorporated into the EIA, as well as allowing Greenland Minerals to address recommendations as they arise.

Additional environmental test work and monitoring is ongoing to ensure that the understanding of impacts is continuously being improved.

READ: Greenland Minerals continues to progress permitting steps for rare earth project

While Kvanefjeld is one of the world’s largest rare earths deposits, with a rare earth oxide resource of 11.1 million tonnes, it also hosts a large uranium resource inventory of 593 million pounds U3O8.

As it is recovered at low incremental cost, uranium stands to be an important by-product revenue stream.

READ: Greenland Minerals’ optimisation test work progressing to final pilot plant operations

A new Greenland Government was established in May and senior company personnel visited Greenland in June to discuss the project status.

Positive meetings were held with the mineral resource minister Vittus Qujaukitsoq, with a focus on establishing project timelines. 

Importantly, the coalition government has outlined a strongly supportive position toward mine development, and specifically support for rare earth production and associated uranium by‐production.

]]>
Sun, 02 Sep 2018 21:24:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204013/greenland-minerals-lodges-eia-for-large-rare-earths-project-204013.html
<![CDATA[News - Greenland Minerals advances Kvanefjeld after inaugural safeguards inspection ]]> https://www.proactiveinvestors.com.au/companies/news/203927/greenland-minerals-advances-kvanefjeld-after-inaugural-safeguards-inspection-203927.html Greenland Minerals Ltd (ASX:GGG) has had its Kvanefjeld project site in Greenland formally inspected by the International Atomic Energy Agency (IAEA).

The inspection brings Kvanefjeld into the international non-proliferation system to enable future uranium production and sales.

The objective of the visit was to assure the absence of undeclared nuclear material and activities at the exploration site and the nearby facilities.

The visit is a result of a lot of work by Greenland and Danish governments to have a full regulatory framework in place.

A rare earth project with a large uranium resource

While Kvanefjeld is one of the largest rare earths deposits in the world, it also hosts a large uranium resource inventory of 593 million pounds U3O8.

As it is recovered at low incremental cost, uranium stands to be an import by-product revenue stream for the project. 

READ: Greenland Minerals gets cash injection from option exercise

Greenland’s managing director Dr John Mair said: “This is a very important milestone for the Kvanefjeld Project.

“We are very pleased to have had the opportunity to host the IAEA’s inspectors this week.

“The company is committed to ensuring that Greenland complies with all of its obligations under the terms of its safeguards agreement with the IAEA and it is very gratifying that the IAEA‘s inspectors were able to successfully achieve their objectives this week.

Danish representatives also attended site visit

“We were also pleased that representatives of the Danish Emergency Management Agency were able to join the IAEA in Narsaq for their visit.

“It is important that future uranium production at Kvanefjeld will be undertaken in strict compliance with international non‐proliferation laws enacted by Greenland and Denmark to facilitate the development of Kvanefjeld.”

READ: Greenland Minerals and Energy hosts nuclear delegate

This is yet another step by both the Greenland and Danish governments to advance this project within the global regulatory framework.

In May 2017, Greenland hosted director general of the IAEA, Yukiya Amano and in September 2016 Greenland became a signatory to international nuclear conventions allowing for its participation in the uranium industry.

]]>
Fri, 31 Aug 2018 10:05:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203927/greenland-minerals-advances-kvanefjeld-after-inaugural-safeguards-inspection-203927.html
<![CDATA[News - Greenland Minerals gets cash injection from option exercise ]]> https://www.proactiveinvestors.com.au/companies/news/203747/greenland-minerals-gets-cash-injection-from-option-exercise-203747.html Greenland Minerals Ltd (ASX:GGG) has received a vote of confidence as 816,258 options were exercised at 8 cents, resulting in $65,300 for the company.

Notably, the 8 cent exercise price is at a slight premium to the current share price of 7.9 cents, which shows support for the company’s outlook.

The option exercise follows news last Friday of the company’s chairman Tony Ho buying shares on market.

READ: Greenland Minerals chairman buys shares on market

The company continues to advance the development of its flagship Kvanefjeld Project in Greenland.

Greenland Minerals is in the process of finalising the environmental impact assessment (EIA) for lodgement ahead of the public hearings process to obtain a mining licence.

The social impact assessment (SIA) which is also necessary for the public hearings was lodged in late July 2018.

READ: Greenland Minerals signs off-take MoU with strategic partner Shenghe, shares rise

Most recently, the company signed a non-binding memorandum of understanding (MoU) related to off-take from Kvanefjeld.

The MoU was with major shareholder and strategic partner Shenghe and established a framework to enter future binding agreements.

The MoU covers two key areas; (1) product off-take and marketing of rare earth products produced from Kvanefjeld, and (2) strategic development execution.

]]>
Wed, 29 Aug 2018 13:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203747/greenland-minerals-gets-cash-injection-from-option-exercise-203747.html
<![CDATA[News - Greenland Minerals chairman buys shares on market ]]> https://www.proactiveinvestors.com.au/companies/news/203519/greenland-minerals-chairman-buys-shares-on-market-203519.html Greenland Minerals Ltd (ASX:GGG) has received a vote of confidence from its non-executive chairman Anthony Ho who has purchased shares in the company on-market.

Ho acquired 250,610 shares through on-market trades increasing his overall holding in the company to 3.18 million shares.

READ:  Greenland Minerals signs off-take MoU with strategic partner Shenghe, shares rise

The purchases follow recent news of the company signing a non-binding memorandum of understanding (MoU) related to off-take from its Kvanefjeld Project in Greenland.

The MoU is with major shareholder and strategic partner Shenghe and establishes a framework to enter future binding agreements.

It covers two key areas; (1) product off-take and marketing of rare earth products produced from Kvanefjeld, and (2) strategic development execution.

]]>
Fri, 24 Aug 2018 08:38:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203519/greenland-minerals-chairman-buys-shares-on-market-203519.html
<![CDATA[News - Greenland Minerals signs off-take MoU with strategic partner Shenghe, shares rise ]]> https://www.proactiveinvestors.com.au/companies/news/203257/greenland-minerals-signs-off-take-mou-with-strategic-partner-shenghe-shares-rise-203257.html Greenland Minerals Ltd (ASX:GGG) has signed a non-binding memorandum of understanding (MoU) related to off-take from its Kvanefjeld Project in Greenland.

The MoU is with major shareholder and strategic partner Shenghe and establishes a framework to enter future binding agreements.

It covers two key areas; (1) product off-take and marketing of rare earth products produced from Kvanefjeld, and (2) strategic development execution.

The off-take amount is for 32,000 tonnes per annum of contained rare earth in chemical concentrate, or 34,000 tonnes per annum of contained rare earth in mineral concentrate.

READ: Greenland Minerals continues to progress permitting steps for rare earth project

Greenland’s managing director John Mair said: “This MoU represents an important milestone in the relationship between the company and Shenghe.

“The agreement builds on the strategic cooperation agreement entered into in 2016 that saw Shenghe become our major shareholder.

“It demonstrates the strong intention of both parties to establish a framework for the commercialisation of the Kvanefjeld project.”

A blueprint for Kvanefjeld’s future

The MoU, in essence, provides a blueprint for how Greenland Minerals and Shenghe intend to cooperate in developing the Kvanefjeld project.

Shenghe is capable and has the intent to process the volumetrically significant output from Kvanefjeld given their large-scale processing and marketing capabilities.

Shenghe ability to provide the critical link from mine to the marketing of industry-ready rare earth products sets Greenland Minerals apart from other emerging rare earth companies.

MoU: acquisition and marketing of project output

Shenghe has expressed an intent to acquire all rare earth output produced from Kvanefjeld at international traded prices.

It has also agreed to enter a supplementary marking arrangement with Greenland Minerals for rare earth output it does not acquire.

MoU: strategic development plan

The strategic development plan for the project considers a staged development pathway and a non-China based separation plant.

The plan also encompasses a process to identify collaboration partners as required for financing and construction.

Finalising EIS for lodgement

Greenland Minerals is currently finalising the environmental impact assessment (EIA) for lodgement ahead of the public hearings process to obtain a mining licence.

The social impact assessment (SIA) which is also necessary for the public hearings was lodged in late July 2018.

]]>
Tue, 21 Aug 2018 10:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203257/greenland-minerals-signs-off-take-mou-with-strategic-partner-shenghe-shares-rise-203257.html
<![CDATA[News - Greenland Minerals continues to progress permitting steps for rare earth project ]]> https://www.proactiveinvestors.com.au/companies/news/201100/greenland-minerals-continues-to-progress-permitting-steps-for-rare-earth-project-201100.html Greenland Minerals Ltd (ASX:GGG) has received the updated Social Impact Assessment (SIA) report for its Kvanefjeld Project in Greenland.

The Kvanefjeld Project is projected to be one of the largest global producers of key magnet metals including neodymium, praseodymium, dysprosium and terbium, along with by‐production of uranium and zinc.

Following a thorough and constructive review process overseen by the Greenland Government, the updated SIA and Environmental Impact Assessments (EIA) have been finalised by lead consultants.

The revised reports will be reviewed by the Greenland Government, and will be translated in preparation for a public consultation period.

Greenland Minerals managing director Dr John Mair said: “We have looked to take a thorough approach with the impact assessments, drawing on a cross‐section of expert consultants.

“The approach we have taken aims to present a clear understanding of the project to our stakeholders in Greenland.

“We will continue to work positively and cooperatively with the Greenland Government in mapping out the next steps in the permitting process and look forward to providing further updates.”

READ: Greenland Minerals and Energy welcomes new pro-mining government in Greenland

A new Greenland Government was established in May, and senior company personnel visited Greenland in June to discuss the project status.

Positive meetings were held with the minister for mineral resources Vittus Qujaukitsoq, with a focus on establishing project timelines.  

Importantly, the coalition government has outlined a strongly supportive position toward mine development, and specifically support for rare earth production and associated uranium by‐production.

Greenland Minerals will continue to communicate closely with the Greenland Government through the coming weeks to establish timing constraints on the remaining steps in the permitting process.

]]>
Thu, 19 Jul 2018 13:55:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201100/greenland-minerals-continues-to-progress-permitting-steps-for-rare-earth-project-201100.html
<![CDATA[News - Greenland Minerals’ optimisation test work progressing to final pilot plant operations ]]> https://www.proactiveinvestors.com.au/companies/news/200530/greenland-minerals-optimisation-test-work-progressing-to-final-pilot-plant-operations-200530.html Greenland Minerals Ltd’s (ASX:GGG) optimisation test work for the Kvanefjeld Project in Greenland is progressing to the final pilot plant stage.

Kvanefjeld is projected to be one of the largest producers globally of key magnet metals including neodymium, praseodymium, dysprosium and terbium, along with by-production of uranium and zinc.

Technical optimisation of Kvanefjeld is part of an on-going program of co-operation with leading rare earth company and major shareholder Shenghe Resources Holding Co Ltd (SHA:600392).

READ: Greenland Minerals and Energy welcomes new pro-mining government in Greenland

This strategy sees the integration of world-leading Chinese rare earth processing technology with one the world’s most significant rare earth projects, with the aim of developing a simpler, lower cost rare earth value chain.

Shenghe had selected two leading laboratories in China to develop and enhance the flotation circuit.

Both laboratories have delivered excellent results, with improvements in mineral concentrate grade in the order of 60%.

Mineral concentrate produced from test work

The subsequent phase has involved transferring the development work to Australia, overseen by technical teams from China.

Based on results, the preferred of the two new methodologies will be selected for pilot plant operation.

Importantly, the significant increase in mineral concentrate grade with a reduced mass of solids will result in substantial reductions in the size of equipment leading to lower capital and operating costs of the processing plant circuit.

Efficient and cost-competitive concentrator circuit

Greenland Minerals managing director Dr John Mair said: “It is fantastic to have two established rare earth specialist groups assisting Shenghe in the optimisation program and final pilot plant specification.

“Each group has a pedigree in metallurgical work for production assets in China and delivered exceptional initial results for Kvanefjeld.

“The approach taken will ensure the establishment of the most efficient and cost-competitive concentrator circuit.”

]]>
Wed, 11 Jul 2018 12:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200530/greenland-minerals-optimisation-test-work-progressing-to-final-pilot-plant-operations-200530.html
<![CDATA[News - Greenland Minerals and Energy shortens its name to Greenland Minerals ]]> https://www.proactiveinvestors.com.au/companies/news/198499/greenland-minerals-and-energy-shortens-its-name-to-greenland-minerals-198499.html Greenland Minerals and Energy Limited (ASX:GGG) has changed its name to Greenland Minerals Limited after receiving shareholder approval at the annual general meeting.

Greenland believes the new name is more concise whilst maintaining a clear reference to the company’s focus and activities.

The change of name has been registered by the Australian Securities and Investment Commission (ASIC).

Essential rare earth elements for electric motors

The company’s Kvanefjeld project in Greenland has a resource of over 1 billion tonnes containing 11.1 million tonnes of rare earth oxide and 593 million pounds of uranium.

The project is forecast to be the largest producer of key rare earth elements for electric vehicles.

These include neodymium, praseodymium and dysprosium which are essential to high-powered permanent magnets used in electric drive motors.

READ: Greenland Minerals and Energy welcomes new pro-mining government in Greenland

Prices of neodymium and praseodymium have been rising on the back of strong demand and tightening supply.

The new pro-mining government in Greenland has set the scene for the company to effectively move through the next steps in the permitting process, and gain project approvals.

]]>
Fri, 08 Jun 2018 12:22:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198499/greenland-minerals-and-energy-shortens-its-name-to-greenland-minerals-198499.html
<![CDATA[News - Greenland Minerals and Energy gains Asian and Australian institutional investors ]]> https://www.proactiveinvestors.com.au/companies/news/198405/greenland-minerals-and-energy-gains-asian-and-australian-institutional-investors-198405.html Greenland Minerals and Energy Ltd (ASX:GGG) (GMEL) has outlined that Global X Uranium ETF has completed a block trade sale of 80 million shares to Asian and Australian institutional investors at 7.5 cents per share.

Shares in the company last traded at 8.4 cents.

Prior to the sell down Global X had been the second largest shareholder in the company with 98.1 million shares.

GMEL remains focused on the wholly-owned Kvanefjeld Project, located near the southern tip of Greenland near existing infrastructure, including an international airport, and has year-round direct shipping access to the project area.

Kvanefjeld is underpinned by a JORC Resource of >1 billion tonnes, and an ore reserve estimate of 108 million tonnes to sustain an initial 37-year mine life.

It is projected to be one of the largest producers globally of key magnet metals including neodymium, praseodymium, dysprosium and terbium, along with by-production of uranium and zinc. 

Reason for the block trade

Global X is an index fund that has been weighted to the Solactive Global Uranium Total Return Index.

Earlier this year Solactive announced that as at 31 July 2018 the Global Uranium Total Return Index would be replaced with the Global Uranium & Nuclear Components Total Return Index.

The new index will significantly reduce weighting on uranium mining and development companies and will instead include companies operating in the broader nuclear fuel cycle and technologies industry.

Dr John Mair, managing director for GMEL, commented: "Global X’s recent underlying index changes had created a significant market overhang for GMEL.

"We are therefore extremely pleased that a block trade sale has been successfully completed by Global X to Asian and Australian institutional investors.

"This change to the share registry comes at an important time for GMEL as we advance through permitting and continue working with major shareholder Shenghe in preparing Kvanefjeld for the development pipeline."

A new name

GMEL is currently undertaking a process to shorten its name to Greenland Minerals Ltd.

READ: Greenland Minerals shareholders vote in favour of name change ]]>
Thu, 07 Jun 2018 10:56:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198405/greenland-minerals-and-energy-gains-asian-and-australian-institutional-investors-198405.html
<![CDATA[News - Greenland Minerals shareholders vote in favour of name change ]]> https://www.proactiveinvestors.com.au/companies/news/197142/greenland-minerals-shareholders-vote-in-favour-of-name-change-197142.html Greenland Minerals and Energy Ltd (ASX:GGG) has received shareholder approval to shorten its name to Greenland Minerals Ltd.

All five of yesterday’s annual general meeting (AGM) resolutions were passed, which also included the re-election of two directors, adoption of the remuneration report and ratification of placement shares.

READ: Greenland Minerals and Energy welcomes new pro-mining government in Greenland

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.

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.

As per the April 2016 updated feasibility study, the net present value of the project is US$1.59 billion and the internal rate of return is 43.4%.

Project permitting continues with a focus on the social impact assessment (SIA) the environmental impact assessment (EIA) and the maritime safety study.

]]>
Thu, 17 May 2018 08:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197142/greenland-minerals-shareholders-vote-in-favour-of-name-change-197142.html
<![CDATA[News - Greenland Minerals and Energy welcomes new pro-mining government in Greenland ]]> https://www.proactiveinvestors.com.au/companies/news/196508/greenland-minerals-and-energy-welcomes-new-pro-mining-government-in-greenland-196508.html Greenland Minerals and Energy Ltd (ASX:GGG) is expected to benefit from the policies of the new coalition government in Greenland, following the national election on April 24, 2018.

The Siumut Party, which led the incumbent government, won the most votes and has formed a coalition with three minority parties - Partii Naleraq, Atassut, and Nunatta Qitornai.

Kim Kielsen, head of the Siumut Party, will continue as Greenland premier.

Clear support for rare earth production

The coalition agreement articulates a clear position of support for the mining industry and a desire for Greenland to be an attractive destination for foreign investment.

Importantly, the coalition agreement outlines a clear position of support for rare earth production and associated uranium by-production.

Greenland Minerals’ Kvanefjeld Project is envisaged to be a globally significant producer of rare earth materials, in addition to by-production of uranium, zinc and fluorspar.

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

Kvanefjeld is one of the world's largest rare earth and uranium projects with a resource of over 1 billion tonnes containing 11.1 million tonnes of rare earth oxide and 593 million pounds of uranium.

Through 2017 a main point of focus has been on project permitting and finalising the environmental and social impact assessments.

These key documents will be finalised in June and lodged with the government prior to a public consultation period.

A supportive pro-mining government sets the scene to effectively move through the next steps in the permitting process, and gain project approvals.

Essential rare earth elements for electric motors

The Kvanefjeld project is forecast to be the largest producer of key rare earth elements for electric vehicles.

These include neodymium, praseodymium and dysprosium which are essential to high-powered permanent magnets used in electric drive motors.

Prices of neodymium and praseodymium have been rising on the back of strong demand and tightening supply.

]]>
Tue, 08 May 2018 14:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196508/greenland-minerals-and-energy-welcomes-new-pro-mining-government-in-greenland-196508.html
<![CDATA[News - Greenland Minerals and Energy director buys shares on-market ]]> https://www.proactiveinvestors.com.au/companies/news/195607/greenland-minerals-and-energy-director-buys-shares-on-market-195607.html 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

]]>
Tue, 24 Apr 2018 09:31:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195607/greenland-minerals-and-energy-director-buys-shares-on-market-195607.html
<![CDATA[News - Greenland Minerals and Energy buoyed by large increases in rare earth concentrate grades ]]> https://www.proactiveinvestors.com.au/companies/news/195097/greenland-minerals-and-energy-buoyed-by-large-increases-in-rare-earth-concentrate-grades-195097.html Greenland Minerals and Energy Ltd (ASX:GGG) has received further promising results from the optimisation program being conducted on rare earths from the Kvanefjeld project in Greenland.

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.

The project hosts rare earth elements, uranium and zinc, making it leveraged to initiatives being undertaken to generate clean energy.

Mair underlines low-cost potential

Managing director John Mair said: “Further positive results from ongoing optimisation have Kvanefjeld on track to be one of the simplest, lowest-cost rare earth producers globally.

“Shenghe has been thorough in guiding the flotation test work at leading technical institutes that are developing the best possible flotation method.”

A large global producer

Kvanefjeld is projected to be one of the largest producers of magnet metals including neodymium, praseodymium, dysprosium and terbium.

Metallurgical test work has now been completed with two Chinese institutes.

They have separately developed flotation methods to concentrate the unique, advantageous rare earth minerals from Kvanefjeld.

Development of flotation reagents

The Institute of Multipurpose Utilisation of Mineral Resources – Chinese Academy of Geological Sciences (IMUMR) based in Chengdu in Sichuan Province was engaged first.

They have developed flotation reagents and methods which have been successfully commercialised.

Test work with IMUMR began in May 2017 with initial results announced in December 2017.

Baotou Meng Rong Fine Materials Co Ltd (BTMR) was the second institute engaged.

Test work with the BTMR commenced in February 2018 and is ongoing, with promising initial results.

Grades well above feasibility study

The results of further flotation test work in China have been encouraging.

There is strong potential that a substantially enhanced mineral concentrate grade approaching 25% rare earth oxide (REO) will be achieved, without recovery losses.

Notably, the Kvanefjeld feasibility study used a mineral concentrate grade of 14% REO, well below the grades achieved by the revised flotation processes under development.

Feasibility study points to a US$1.6 billion project

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

As per the April 2016 updated feasibility study, the net present value of the project is US$1.59 billion and the internal rate of return is 43.4%.

Based on an ore reserve of 108 million tonnes, the project has an initial mine life of 37 years.

This ore reserve only represents circa 10% of the 1 billion tonne-plus resource estimate.

Project financing costs are US$831.9 million with a payback period of 5 years.

Reduced capital expenditure and operating costs

The significant increase in mineral concentrate grade with a reduced mass of solids would result in substantial reductions in the size of processing equipment.

Mair said: “These advancements strengthen confidence in simplifying the processing route and increasing efficiency leading to material reductions in operating and capital costs.”

Test work on the atmospheric leach circuit continues in parallel with flotation work.

Direct export would be an option

The production of a mineral concentrate with an REO grade approaching 25% makes the direct export of mineral concentrate from Greenland a potential option.

At this concentrate grade, the value of the contained rare earths per kilogram of concentrate exceeds that of traded nickel, zinc and copper commercial concentrates.

Mair said: “Further confirmation of an increase in concentrate grade toward 25% REO and the significant increase in contained value, creates the potential to stage development through an initial export of mineral concentrate.”

Pilot plant validation

Test work is continuing in China that aims to further optimise each processing method.

Validation test work will then be conducted in Perth later this month to determine the preferred method, overseen by Chinese technical experts.

The preferred method will then be evaluated at pilot plant scale under guidance from Shenghe.

Aiming to de-risk at pilot plant scale

Mair said: “We are determining the preferred method that we will look to de-risk at pilot plant scale in the coming months.

“The integration of leading rare earth processing technology with one of the world’s most significant emerging rare earth projects continues to deliver exceptional results.”

Greenland Minerals is continuing to investigate the economic and regulatory considerations of shipping of rare earths mineral concentrate.

READ: Greenland Minerals and Energy flags imminent release of impact assessment studies at Kvanefjeld

This will assist the company in determining the best strategy for a staged development operation.

In the interim, the company is preparing to release impact assessment studies.

]]>
Tue, 17 Apr 2018 10:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195097/greenland-minerals-and-energy-buoyed-by-large-increases-in-rare-earth-concentrate-grades-195097.html
<![CDATA[News - Greenland Minerals and Energy flags imminent release of impact assessment studies at Kvanefjeld ]]> https://www.proactiveinvestors.com.au/companies/news/194194/greenland-minerals-and-energy-flags-imminent-release-of-impact-assessment-studies-at-kvanefjeld-194194.html Greenland Minerals and Energy Limited (ASX:GGG) is preparing to release the impact assessment studies in relation to its Kvanefjeld multi‐element deposit in Greenland.

Managing director John Mair said: “Following productive meetings this year with Greenland authorities and the Danish Centre for Environment, completion of the impact assessments for Kvanefjeld is imminent.

“In addition to the extra studies and data collected in 2017, we are bringing additional global expertise with rare earth experience to finalise the documentation in a thorough and rigorous manner.  

“The completion of high‐quality impact assessments following detailed government review and guidance will be a very important step forward to a licence to operate.”

Rare earths, uranium and zinc

Kvanefjeld hosts rare earth elements, uranium and zinc, making it leveraged to initiatives being undertaken to generate clean energy.

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

A pre‐feasibility study was finalised in 2012 and a comprehensive feasibility study was completed in 2015 and updated following pilot plant operations in 2016.

While these highlighted the project’s potential, it now has to progress to the development stage.

Large long-life resource

The studies highlighted the potential to develop Kvanefjeld as a long‐life, low cost and large‐scale producer of rare earth elements.

In 2017, the company conducted technical work programs with major shareholder and strategic partner Shenghe Resources Holding Co Ltd (SHA:600392).

Improving performance while reducing costs

The aim of this ongoing work is to improve the metallurgical performance, simplify the development strategy and infrastructure footprint in Greenland.

In achieving this, the cost structure should be enhanced, ensuring that Kvanefjeld is aligned with downstream processing. 

]]>
Wed, 04 Apr 2018 09:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194194/greenland-minerals-and-energy-flags-imminent-release-of-impact-assessment-studies-at-kvanefjeld-194194.html
<![CDATA[News - Greenland Minerals and Energy progressing US$1.59 billion clean energy project ]]> https://www.proactiveinvestors.com.au/companies/news/193598/greenland-minerals-and-energy-progressing-us159-billion-clean-energy-project-193598.html Greenland Minerals and Energy Ltd (ASX:GGG) 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.

As per the April 2016 updated feasibility study, the net present value of the project is US$1.59 billion and the internal rate of return is 43.4%.

Project financing costs are US$831.9 million and the project has a payback period of 5 years.

Project has initial mine-life of 37 years

Based on an ore reserve of 108 million tonnes, the project has an initial mine life of 37 years.

Notably, this ore reserve only represents circa 10% of the 1 billion tonne-plus resource estimate.

Kvanefjeld to power the clean energy future

The Kvanefjeld project is forecast to be the largest producer of key rare earth elements for electric vehicles.

These include neodymium, praseodymium and dysprosium which are essential to high-powered permanent magnets used in the electric drive motors.

Prices of neodymium and praseodymium have been rising on the back of strong demand and tightening supply.

Countries including China, India, France, UK and Norway are moving to set timelines for their respective national transition to electric vehicles.

Kvanefjeld has the largest code‐compliant resource (JORC or CIM) of rare earth elements that are critical to the clean, green and smart revolution.

Strategic partnership with Shenghe

Greenland Minerals has a strategic partnership with major shareholder Shenghe Resources Holding Co Ltd (SHA:600392).

Shenghe is a multi-billion dollar integrated rare earth mining, beneficiation, separation and downstream processing business.

This strategic relationship with Shenghe represents a major landmark for Greenland Minerals and the development of the Kvanefjeld project.

The fundamental objective of both parties is to develop the Kvanefjeld rare earth and uranium project in Greenland as a cornerstone to new supply networks.

The relationship with Shenghe is significant given its expertise in mining, beneficiation, metallurgy, separation and downstream processing and marketing.

Collaborative optimisation program with Shenghe

Throughout 2017, the company worked on a collaborative optimisation program with Shenghe which delivered valuable project improvements.

The program aimed to improve metallurgical performance, simplify processing and improve the cost structure of the project.

Results from flotation improvements produced a 60% increase in rare earth mineral concentrate grades, without recovery loss.

Furthermore, a new leaching methodology was developed to simplify the circuit dramatically that eliminates a number of processing steps and utilises smaller equipment.

This will result in reduced capital and operating costs, smaller in‐country footprint and reduced impacts.

Revising the feasibility study and project cost‐structure

Discussions are planned to finalise the optimised development strategy and map out the work programs required to revise the feasibility study and update the project cost‐structure.  

Company representatives will be visiting Greenland and Denmark in February to update government departments on the positive developments, advantages, and implications.

Impact assessments progressing through final stages

Project permitting continues with a focus on the social impact assessment (SIA) the environmental impact assessment (EIA) and the maritime safety study.

Many of the recommendations that were put forward following detailed reviews were addressed and additional data was generated to supplement datasets where requested.

Major changes to the global supply of rare earths

Major changes are coming to global rare earth supply, with China looking to cap primary production in 2020, as a point when demand is set to surge.

Greenland Minerals had been actively engaging the Chinese rare earth industry for a number of years; a process which provided strong insight into how the industry was reshaping. 

Increasing global government policies to transition to electric vehicles and to significantly expand offshore wind power capacity continues to drive prices of rare earth elements.

These policies underwrite continued demand growth for neodymium, praseodymium and dysprosium.

Kvanefjeld would be one of the largest producers globally of these critical materials.

Furthermore, on the supply side, under China’s rare earth development plan for 2016-2020, mine production is to be capped at 140,000 tonnes per annum.

This will likely see China shift to a net-importer of rare earths providing a valuable window for projects such as Kvanefjeld.

]]>
Thu, 22 Mar 2018 15:54:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193598/greenland-minerals-and-energy-progressing-us159-billion-clean-energy-project-193598.html
<![CDATA[News - Greenland Minerals and Energy issues new shares after exercise of options ]]> https://www.proactiveinvestors.com.au/companies/news/191336/greenland-minerals-and-energy-issues-new-shares-after-exercise-of-options-191336.html Greenland Minerals and Energy Limited (ASX:GGG) has issued 134,763 new shares valued at almost $11,000.

The issue resulted from the exercise of options valued at $0.08 each.

This price is similar to the company’s recent trading price, which has ranged from $0.08 to $0.10 since the beginning of 2018.

Emerging rare earth project

The company owns the Kvanefjeld Project in Greenland, one of the world’s most significant emerging rare earth projects.

READ: Greenland Minerals and Energy bags $10.25 million for rare earth project

It is well funded to continue optimisation work, update project cost structure, feasibility studies and enhance its development strategy after raising $10.25 in a recent placement.

This included $9 million from leading funds in Hong Kong, Singapore and Australia, at $0.09 per share.

In addition, the company’s major shareholder and strategic partner Shenghe Resources confirmed its intent to maintain its 12.5% shareholding by investing $1.25 million.

Based on an ore reserve of 108 million tonnes, the project has an initial mine-life of 37 years, with the reserve representing only circa 10% of the 1 billion tonne resource estimate.

READ: Greenland Minerals and Energy simplified rare earth refining will boost economics

Through 2018, the outcomes of optimisation work will be progressively rolled out, with engineering and feasibility studies updated accordingly.

]]>
Thu, 08 Feb 2018 08:34:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191336/greenland-minerals-and-energy-issues-new-shares-after-exercise-of-options-191336.html
<![CDATA[News - Greenland Minerals and Energy's non-executive chairman tops up holding ]]> https://www.proactiveinvestors.com.au/companies/news/190953/greenland-minerals-and-energy-s-non-executive-chairman-tops-up-holding-190953.html Greenland Minerals and Energy Ltd’s (ASX:GGG) additional support from non-executive chairman, Anthony Ho is a positive sign, and builds on recent institutional backing.

He increased his holding to circa 2.7 million shares, and he also holds 337,500 options.

The company owns the Kvanefjeld Project in Greenland, one of the world’s most significant emerging rare earth projects.

Institutional backing to fund exploration and feasibility studies

There has also been broader support from high profile investors with the company’s $10.25 million placement backed by institutional investors in Australia and Asia.

READ: Greenland Minerals and Energy bags $10.25 million for rare earth project

Greenland Minerals is now well-funded to continue optimisation work, update project cost structure, feasibility studies and enhance its development strategy.

Based on an ore reserve of 108 million tonnes, the project has an initial mine-life of 37 years, with the reserve representing only circa 10% of the 1 billion tonne resource estimate.

]]>
Thu, 01 Feb 2018 12:12:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190953/greenland-minerals-and-energy-s-non-executive-chairman-tops-up-holding-190953.html
<![CDATA[News - Greenland Minerals and Energy simplified rare earth refining will boost economics ]]> https://www.proactiveinvestors.com.au/companies/news/189989/greenland-minerals-and-energy-simplified-rare-earth-refining-will-boost-economics-189989.html Greenland Minerals and Energy Ltd (ASX:GGG) has identified refinery circuit improvements that will reduce capital and operating costs at the Kvanefjeld Rare Earth Project in Greenland.

Extensive collaborative test work is being carried out by Greenland and major shareholder Shenghe Resources Holding Co Ltd, a leading rare earth company.

A low temperature hydrochloric acid (HCl) leach circuit has been developed that allows for fewer processing steps and smaller equipment but delivers very high rare earth extractions.

The new methodology opens the opportunity for cost‐effective import of reagent rather than on site production.

A leading producer of key magnet metals

Kvanefjeld is projected to be one of the largest producers globally of key magnet metals including neodymium, praseodymium, dysprosium and terbium.

It is underpinned by resource of more than 1 billion tonnes and an ore reserve estimate of 108 million tonnes to sustain an initial 37 year mine life.

John Mair, managing director, said: “The simplified refining circuit will bring numerous benefits to the project.

“It draws on guidance from Shenghe to utilise Kvanefjeld’s unique qualities to establish a highly competitive cost structure and align the project with downstream processing.

“Coupled with major flotation improvements to produce a higher‐grade, lower‐mass mineral concentrate, the simplified refining circuit will result in smaller equipment sizing and less support infrastructure.

“This will lead to a reduction of capital and operating costs.  

“These enhancements will reduce the project’s in‐country footprint and impacts, whilst serving to increase the profitability.”

READ: Greenland Minerals and Energy aims for direct sales from rare earth project

The tests carried out in China and Australia are aimed at optimising and simplifying the refining circuit that has been developed for the project.

Test work to develop a simpler, enhanced leaching methodology was conducted in Australian laboratories.

Hydrochloric acid key to revised strategy

Key to the revised processing strategy has been evaluation of HCl for direct concentrate leaching.

This is a departure from the process outlined in the feasibility study which uses sulphuric acid for direct leaching and HCl acid for secondary leaching.

Previous attempts to use direct HCl met with issues owing to silica contamination.

Greenland has now devised a method which allows the silica in the concentrate to be controlled in a single leaching step.

This occurs while still extracting high levels of rare earths and uranium from the concentrate.

Viscous paste is formed

The new method mixes HCl directly with mineral concentrate to produce a viscous paste, which is then mixed for 30 minutes before being dissolved in water.

In the viscous paste, the rare earths are dissolved and the silica is controlled by precipitation in a favourable form.

This simple extraction method is not dependent on high temperature, high pressure or extreme chemical treatment that is otherwise the norm in rare earth production.

Elimination of sulphuric acid will remove the requirement for a sulphuric acid plant on site. Further investigations reveal that it will be possible to transport HCl directly to Greenland for use in the refinery, which will also remove the requirement for a HCl plant.

Removal of reagent production facilities in Greenland will reduce capital costs.

READ: Greenland Minerals and Energy bags $10.25 million for rare earth project

Test work has established a method for the effective removal of uranium from the leach solution, allowing for the generation of saleable uranium product in Greenland.

Feasibility studies will quantify the benefit of shipping an intermediate rare earth product as a chloride solution, which is ideal feedstock for latest technology separation plants.

This approach eliminates solids handling and releaching steps common with other solid feedstocks, resulting in cost benefits across the overall supply chain.

Last month the company and Shenghe also achieved substantial improvements to the flotation circuit and mineral concentrate grades.

]]>
Mon, 15 Jan 2018 14:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189989/greenland-minerals-and-energy-simplified-rare-earth-refining-will-boost-economics-189989.html
<![CDATA[News - Greenland Minerals and Energy aims for direct sales from rare earth project ]]> https://www.proactiveinvestors.com.au/companies/news/189126/greenland-minerals-and-energy-aims-for-direct-sales-from-rare-earth-project-189126.html Greenland Minerals and Energy Limited (ASX:GGG) is investigating direct mineral concentrate sales from its Kvanefjeld Rare Earth Project in Greenland.

A 64% improvement in mineral recoveries revealed by recent test work has prompted the company to consider the direct sales.

This would form part of a phased development strategy for Kvanefjeld and sets the scene for strong news flow in 2018.

READ: Greenland Minerals and Energy test results boost Kvanefjeld economics

The project is forecast to be the world’s largest producer of key rare earth elements including neodymium, praseodymium, dysprosium and terbium.

These elements are essential to high powered permanent magnets used in the electric drive motors of electric vehicles.

Greenland and major shareholder Shenghe Resources Holding Co Ltd, which is a leading rare earth specialist, are investigating the direct concentrate sales.

This work will include engaging with the required regulatory bodies associated with the export of Kvanefjeld mineral concentrate.

Reduction in capital expenditure

Test work by Shenghe has demonstrated that optimising concentrate has potential to drive a substantial reduction in capital expenditure and operating costs.

It means that a refinery would not be required as part of the first phase of operation, and would then be developed as a second phase.

Metallurgy improvements

Dr John Mair, managing director, said: “The metallurgical improvements achieved by Shenghe to date are extremely significant.

“They set the scene for an exciting 2018 as we roll-out the integration of Shenghe’s leading rare earth technology and sector experience with the world’s most significant emerging rare earth project in Kvanefjeld.

“The concentrator circuit is just one of a number of focus areas, but increases in the order of 60% in rare earth concentrate grade will have a profoundly positive impact on the efficiency and cost structure of the project.”

READ: Greenland Minerals and Energy bags $10.25 million for rare earth project

Greenland is well-funded to continue optimisation work, update project cost structure, feasibility studies and enhance its development strategy.

Based on an ore reserve of 108 million tonnes, the project has an initial mine-life of 37 years, with the reserve representing only circa 10% of the 1 billion tonne-plus resource estimate.

Key growth catalysts

The key 2018 growth catalysts are:

Quarter 1:

- Project update drawing on test work conducted jointly with Shenghe through 2017 which is addressing optimisation and integration with downstream processing; and

- Commence update of 2016 feasibility study.

Quarter 2:

- Update operating costs; and

- Incorporate updated workforce requirements into SIA, conduct required EIA revisions that arise from optimisation.

Quarter 3:

- Pilot plant operation of final configuration.

Quarter 4:

- Finalise feasibility study; and

- Revise capital costs.

]]>
Thu, 21 Dec 2017 13:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189126/greenland-minerals-and-energy-aims-for-direct-sales-from-rare-earth-project-189126.html
<![CDATA[News - Greenland Minerals and Energy test results boost Kvanefjeld economics ]]> https://www.proactiveinvestors.com.au/companies/news/188404/greenland-minerals-and-energy-test-results-boost-kvanefjeld-economics-188404.html Greenland Minerals and Energy Limited (ASX:GGG) has received encouraging test results from its Kvanefjeld Rare Earth Project in Greenland.

The concentrate grade has been boosted by 64% to more than 23% rare earth oxide (REO).

The increased grade will reduce processing capital and operating costs.

It also provides the company with the option to stage development of the project.

Kvanefjeld is one of the world’s most significant emerging rare earth projects.

Project has initial mine-life of 37 years

Based on an ore reserve of 108 million tonnes, the project has an initial mine life of 37 years.

Notably, this ore reserve only represents circa 10% of the 1 billion tonne-plus resource estimate.

It is projected to be one of the largest producers globally of key magnet metals including neodymium, praseodymium, dysprosium and terbium, along with by‐production of uranium and zinc.

READ: Greenland Minerals and Energy bags $10.25 million for rare earth project

The optimisation is being carried out in conjunction with major shareholder Shenghe Resources Holding Co Ltd.

This work aims to improve metallurgical performance, simplify processing and improve the cost structure of the project.

The latest results represent a significant improvement on previous test work that generated concentrates of 15% REO.

A project feasibility study is based on a concentrate grade of 14%.

The 23% grade will result in substantial reductions in the size of equipment, reducing capital and operating costs of the processing circuit.

Direct sales of concentrates now possible

The higher mineral concentrate grades allow for consideration of direct sales of mineral concentrates from Kvanefjeld.

Greenland Minerals and Shenghe are investigating a phased development strategy to further reduce initial development capital requirements.

READ: Greenland Minerals & Energy receives a Speculative Buy broker rating as key permitting progresses

Dr John Mair, managing director, said: “The metallurgical improvements achieved by Shenghe are extremely significant.

“They set the scene for an exciting 2018 as we roll‐out the integration of Shenghe’s leading rare earth technology and sector experience with the world’s most significant emerging rare earth project.

“The concentrator circuit is one of a number of focus areas, but increases in the order of 60% in concentrate grade will have a positive impact on the project’s efficiency and cost‐structure.”

Greenland Minerals is well-funded to continue its optimisation work, update project cost structure, feasibility studies and enhance its development strategy.

]]>
Thu, 07 Dec 2017 11:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188404/greenland-minerals-and-energy-test-results-boost-kvanefjeld-economics-188404.html
<![CDATA[News - Greenland Minerals and Energy bags $10.25 million for rare earth project ]]> https://www.proactiveinvestors.com.au/companies/news/187737/greenland-minerals-and-energy-bags-1025-million-for-rare-earth-project-187737.html Greenland Minerals and Energy Ltd (ASX:GGG) has completed a strongly supported share placement to Asian and Australian institutional investors to raise $10.25 million.

The company owns the Kvanefjeld Project in Greenland, one of the world’s most significant emerging rare earth projects.

Greenland has accepted firm commitments for $9 million from leading funds in Hong Kong, Singapore and Australia, at $0.09 per share.

In addition, the company’s major shareholder and strategic partner Shenghe Resources has confirmed its intent to maintain its 12.5% shareholding by investing $1.25 million.

Well-funded to accelerate project development

Greenland is now well-funded to continue optimisation work, update project cost structure, feasibility studies and enhance its development strategy.

Based on an ore reserve of 108 million tonnes, the project has an initial mine-life of 37 years, with the reserve representing only circa 10% of the 1 billion tonne resource estimate.

Through 2018, the outcomes of optimisation work will be progressively rolled out, with engineering and feasibility studies updated accordingly.

Of the small number of advanced rare earth projects globally, Kvanefjeld is forecast to be the largest producer of key rare earths including neodymium, praseodymium and dysprosium.

These elements are essential to high powered permanent magnets used in the electric drive motors of electric vehicles.

Projected to be largest capacity rare earth project outside of China

John Mair, managing director, said: “We’re extremely pleased with the strong level of support from a cross section of prominent institutional investors who along with Shenghe provide strong endorsement of the Kvanefjeld Project and the company strategy.

“We’re well placed to roll out optimisation work through 2018 that aims to have Kvanefjeld positioned as the lowest-cost, largest capacity rare earth project outside of China, with the longest projected mine life.

“In association with Shenghe, we’ll be looking to develop a complete path to market and project finance strategy.

“The demand outlook for rare earths continues to strengthen creating an optimal window to position Kvanefjeld for the development phase.”

READ: Greenland Minerals & Energy receives a Speculative Buy broker rating as key permitting progresses ]]>
Fri, 24 Nov 2017 13:12:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187737/greenland-minerals-and-energy-bags-1025-million-for-rare-earth-project-187737.html
<![CDATA[News - Greenland Minerals and Energy to reveal raising for Kvanefjeld Project ]]> https://www.proactiveinvestors.com.au/companies/news/187611/greenland-minerals-and-energy-to-reveal-raising-for-kvanefjeld-project-187611.html Greenland Minerals and Energy Ltd (ASX:GGG) has been granted a trading halt this morning by the ASX, pending details of a capital raising for the world-class project Kvanefjeld Project.

The company has also been receiving some broker support from Perth-broker RM Research.

READ: Greenland Minerals & Energy receives a Speculative Buy broker rating as key permitting progresses

The halt will remain in place until the opening of trade on Friday 24th November 2017, or earlier if an announcement is made to the market.

]]>
Wed, 22 Nov 2017 10:23:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187611/greenland-minerals-and-energy-to-reveal-raising-for-kvanefjeld-project-187611.html
<![CDATA[News - Greenland Minerals & Energy receives a Speculative Buy broker rating as key permitting progresses ]]> https://www.proactiveinvestors.com.au/companies/news/186306/greenland-minerals-energy-receives-a-speculative-buy-broker-rating-as-key-permitting-progresses-186306.html Greenland Minerals & Energy Ltd (ASX:GGG) has received a Speculative Buy from Perth-broker RM Research, as key project permitting is progressing well for the Kvanefjeld Project in Greenland.

Shares in the company last traded at $0.105. The following is an extract from the broker report.

The Maritime Safety Study approved for Public Consultation

- On 11 October 2017, GGG announced that the Danish Maritime Authority, acting on behalf of the Government of Greenland, had approved the Maritime Safety Study for public consultation. The study was prepared by the independent Danish consultant Blue Water Shipping and is an extensive document that determines the safest and most environmentally acceptable method to transport cargo to and from the Kvanefjeld Project port location in the Narsaq Illua Bay.

- RM Research believes that approval of the Maritime Safety Study is a significant step forward as it is one of the three major documents - the others being the Environmental Impact Assessment (EIS) and the Social Impact Assessment (SIA) - required to progress through the public consultation process before a Mining Licence can be granted for the Kvanefjeld Project.

- The EIA, which is being prepared by Danish consultants Orbicon, is stated as being 80% complete, whilst the SIA (prepared by Danish consultants Niras) is 90% complete.

- GGG does appear to be on target to achieve its goal of creating an actionable development path forward for 2018, including finalising a revised Feasibility Study with updated capital and operating costs by 2018 year-end.

Strategic cooperation with major shareholder, Shenghe Resources gathering pace

- Shenghe Resources Holding Co., Ltd (Shenghe) took a c.12% interest in GGG in 2016 and continues to work with the Company to optimise the Kvanefjeld Project. Shenghe is an integrated Rare Earth mining, beneficiation, separation and downstream processing business that is listed on the Shanghai Stock Exchange (code: 600392) with a multi billion dollar market capitalisation.

- Shenghe recently changed its nominee director to the Board of GGG from Ms Wenting Chen to Mr Xiaolei Guo. Mr Guo holds a degree in Law and is the manager of the investment and development department of Shenghe, which is responsible for acquiring rare earth projects for the Group.

- RM Research expects that the work programmes conducted by Shenghe and GGG in both Australia and China will deliver cost enhancements to the Project and ensure that output is aligned with downstream processing and market requirements.

Chinese Policy & strong demand driving up Rare Earth Prices

- The intensification of environment compliance investigations by the China central government has driven consolidation in the sector. Meanwhile, demand for rare earth products, such as neodymium-praseodymium (NdPr) oxide, has been very strong due to the combined impact of electrification of commercial motor vehicles and increased use of wind turbines in the power generation mix.

- The price for NdPr oxide FOB China is currently around US$66/kg including VAT, down around 15% from the peak achieved in September 2017, but still up 70% from a year ago and similar to levels of 3 years ago.

Action and Recommendation

- RM Research is maintaining a Speculative Buy. It appears that permitting of the Kvanefjeld Project is nearing finalisation and the commitment of the Governments of Greenland and Denmark remains strong. Rare Earth Oxide (REO) prices have strengthened considerably during 2017 due to increasing demand for REOs (in particular permanent magnets) in clean technology applications, and a crack down in illegal mining activities in South China. Our current A$0.29 risked NAV for GGG remains valid, with upside based on the current strength in REO prices.

]]>
Fri, 27 Oct 2017 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186306/greenland-minerals-energy-receives-a-speculative-buy-broker-rating-as-key-permitting-progresses-186306.html
<![CDATA[News - Greenland Minerals and Energy appoints Xiaolei Guo to the board ]]> https://www.proactiveinvestors.com.au/companies/news/185684/greenland-minerals-and-energy-appoints-xiaolei-guo-to-the-board-185684.html Greenland Minerals and Energy Ltd (ASX:GGG) has appointed Mr Xiaolei Guo, a representative of Shenghe Resources Holding Limited (SHA:600392), to the board as a non-executive director.

Mr Guo holds a degree in Law, and is a member of the Bar, in China.

He is the manager of the investment and development department of Shenghe, focusing on selecting, evaluation and acquisition of rare earth projects.

READ NOW: Greenland Minerals and Energy gets approval for major study

Ms Wenting Chen, the previous nominee director of Shenghe, has stepped down from the role due to her other growing commitments.

Tony Ho, chairman, commented: "On behalf of my fellow directors, I welcome Mr Xiaolei Guo to the board and thank Wenting Chen for her valuable contributions during her time on the board.

"We wish her well in her future endeavours.

"Mr. Guo’s international capital markets and rare earth industry expertise will be of significant value to the board as we move ahead with the future development of the Kvanefjeld Project."

Last year Shenghe entered a strategic cooperation agreement with Greenland Minerals and become their largest shareholder.

]]>
Tue, 17 Oct 2017 14:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185684/greenland-minerals-and-energy-appoints-xiaolei-guo-to-the-board-185684.html
<![CDATA[News - Greenland Minerals and Energy gets approval for major study ]]> https://www.proactiveinvestors.com.au/companies/news/185379/greenland-minerals-and-energy-gets-approval-for-major-study-185379.html Greenland Minerals and Energy (ASX:GGG) has had its Maritime Safety Study related to the 100% owned Kvanefjeld Project in Greenland approved for public consultation.

The aim of the study is to ensure that ship voyages to and from the Kvanefjeld Project site are safe and do not impact the environment.

It is one of three key documents which form part of the public consultation process documentation required for the issuance of a mining licence.

The environmental and social impact assessments (EIA and SIA) are advanced with the majority of recommendations now addressed.

Kvanefjeld is underpinned by the largest code‐compliant resource of rare earth elements that are critical to the clean, green and smart revolution, which is rapidly gaining momentum. 

Dr John Mair, managing director, commented

“Approval of the Maritime Safety Study marks another important step in progressing through the approvals process.

“This has been a key area of focus through 2017 along with technical work conducted with strategic partner Shenghe to optimise and align Kvanefjeld with downstream processing.

“Progress on both fronts has Kvanefjeld well‐positioned at a time when rare earth demand set for strong growth, prices are rising, and the supply outlook is constrained.”

Study update

As part of the process of obtaining a mining licence in Greenland, companies are required to prepare documents which undergo public consultation for 8 weeks.

Prior to public consultation, comprehensive reviews of the EIA, SIA and Maritime Safety Study are undertaken, recommendations addressed, and then approval sought. 

Feedback has been fully incorporated into the Maritime Safety Study with a final version having now been accepted for public consultation.

Feedback has been progressively incorporated into the EIA and SIA for which additional data has been generated through 2017.

Both studies are now in an advanced state, with most recommendations having now been addressed.

Largest producer of key rare earths

Of emerging rare earth operations, the US$1.59 billion Kvanefjeld Project is forecast to be the largest producer of key rare earths including neodymium, praseodymium and dysprosium.

These rare earth elements are essential to high powered permanent magnets, with the longest projected mine life.

READ NOW: Greenland Minerals and Energy holds key asset for electric vehicle future 

Greenland Minerals continues to work closely with strategic partner and major shareholder Shenghe Resources Holding Co Ltd (SHA:600392).

Through 2017, work with Shenghe has focused on ensuring it is aligned with downstream processing, as a precursor to project development.

]]>
Wed, 11 Oct 2017 14:58:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185379/greenland-minerals-and-energy-gets-approval-for-major-study-185379.html
<![CDATA[News - Greenland Minerals and Energy holds key asset for electric vehicle future ]]> https://www.proactiveinvestors.com.au/companies/news/184257/greenland-minerals-and-energy-holds-key-asset-for-electric-vehicle-future-184257.html Greenland Minerals and Energy (ASX:GGG) is forecast to be the largest producer of key rare earth elements for electric vehicles from its 100% owned Kvanefjeld Project in Greenland.

These include neodymium, praseodymium and dysprosium which are essential to high-powered permanent magnets used in the electric drive motors.

Prices of neodymium and praseodymium are up 80% this year on the back of strong demand and tightening supply.

China recently joined India, France, UK and Norway in moving to set timelines for their respective national transition to electric vehicles.

Kvanefjeld has the largest code‐compliant resource (JORC or CIM) of rare earth elements that are critical to the clean, green and smart revolution.

The US$1.59 billion Kvanefjeld 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.

As per the updated feasibility study, the net present value of the project is US$1.59 billion and the internal rate of return is 43.4%.

Project financing costs are US$831.9 million and the project has a payback period of 5 years.

Working closely with strategic partner and major shareholder

Greenland Minerals continues to work closely with strategic partner and major shareholder Shenghe Resources Holding Co Ltd (SHA:600392).

Work has been focused on optimising the Kvanefjeld Project and ensuring it is aligned with downstream processing, as a precursor to project development.

A representative from Shenghe, geologist Zhao Mingwu has been onsite through August to early September to gain greater familiarity with the project area and the geology of the region.

Shenghe is a leading Chinese rare earth company with a market cap of over A$5 billion, its downstream processing technology and capacity provide solid foundations for Kvanefjeld’s future.

Finalising impact assessments in the field

Over recent months, field-based activities and stakeholder meetings in the project area have been undertaken to support impact assessments for the Kvanefjeld Project.

Activities have been focused on data generation and stakeholder meetings to support finalising impact assessments for the Kvanefjeld.

Sampling programs that were undertaken by independent environmental consultant Orbicon to generate supplementary environmental data are now complete.

Furthermore, the company’s impact assessment consultant, Shared Resources, has been on the ground in Greenland conducting meetings with a range of stakeholders and regulatory departments.

Global government policy driving prices

Increasing global government policies to transition to electric vehicles and to significantly expand offshore wind power capacity continues to drive prices of rare earth elements.

These policies underwrite continued demand growth for neodymium, praseodymium and dysprosium.

Under 2016 feasibility study parameters, Kvanefjeld would be one of the largest producers globally of these critical materials. 

Furthermore, on the supply side, due to a number of Chinese government initiatives, a general tightening of the supply of rare earths is now occurring.

Under China’s rare earth development plan for 2016-2020, mine production is to be capped at 140,000 tonnes per annum, which will likely see China shift to a net-importer of rare earths.

This provides a valuable window for projects such as Kvanefjeld.

]]>
Wed, 20 Sep 2017 13:24:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184257/greenland-minerals-and-energy-holds-key-asset-for-electric-vehicle-future-184257.html
<![CDATA[News - Greenland Minerals & Energy attracts Speculative Buy as rare earth prices move ]]> https://www.proactiveinvestors.com.au/companies/news/181437/greenland-minerals-energy-attracts-speculative-buy-as-rare-earth-prices-move-181437.html Greenland Minerals & Energy Ltd (ASX:GGG) has received a Speculative Buy from the Perth-based RM Research.

The following is an extract from the report.

Permitting remains on track

- GGG recently met (ASX Announcement 18/7/2017) with the Greenland Environmental Agency for Mineral Resources Activities (EAMRA) and Danish Centre for the Environment (DCE) in Copenhagen regarding the ongoing environmental studies, following the major review phase.

- Agreements were reached in respect to key aspects of the Feasibility Design including the location of tailings facilities, a water management plan and a dust modelling methodology. To date there do not appear to be any adverse flora or fauna impacts with low levels of radiation in the general vicinity of the proposed mining footprint.

- Further work is likely to address the supplementary waste rock stockpile stability, waste rock design and recovery of run off waters, additional base line data for air quality, radiation impacts and water flow. The Company has also engaged Shared Resources to assist with the process, in particular compliance with international standards, in preparation for project finance.

Visit from IAEA Director General

- International Atomic Energy Agency (“IAEA”) Director General Yukiya Amano recently visited (ASX Announcement 15/5/2017) the Kvanefjeld Project on 8th May 2017 as part of a delegation including Greenland’s Premier Kim Kielsen, the Mayor of Southern Greenland, and the Danish Ambassador to Vienna (home of the IAEA). The visit followed Greenland’s accession to IAEA conventions and treaties in 2016, and implementation of legislation to govern the production and export of uranium from Greenland by the Danish and Greenland governments.

- The purpose of the site visit was to gain a greater understanding of key infrastructure including mine site, processing facilities, tailings storage and port facilities. Kvanefjeld is projected to produce approximate 1.0m pounds of U3O8 per annum as a by-product to rare earth production.

Chinese Policy & strong demand driving up Rare Earth Prices

- Key objectives of the Chinese domestic policy include consolidation into 6 state owned regional entities, removal of export quotas and tariffs and introduction of export licenses and the curbing of production outside of the formal quota system.

- Longer term objectives including liming RE production to less than 140Ktpa, reducing separation plant capacity by 1/3, ensuring environmental compliance of the majority of operations and limiting the export of unprocessed RE ores.

- REE prices have risen strongly in 1H CY 2017 driven by reforms in China, a pending shortage of REE metals and increasing demand from electric vehicles, permanent magnets and other clean technologies such as wind turbines and industrial robots.

- The recent crackdown of illegal mining in China is also driving consolidation in the sector.

- From 1 January 2016, terbium oxide is up over 40%, lanthanum oxide 30% and praseodymium and neodymium approximately 20%.

Action and Recommendation

- RMR is maintaining a Speculative Buy. It appears the stars are aligning with REE supply side pressure driven by Chinese regulatory shifts, projected CAGR of 5% p.a. for REE and the increasing demand for HREE in clean technology applications, in particular magnets. Our next Quarterly update will revisit the current A$0.29 risked NAV for GGG.

- As a footnote Shenghe has emerged as part of the consortium of Chinese financial backers to US companies JHL Capital Group and QVT Financial to purchase the Mountain Pass REE mine in California. Further consolidation/M&A are likely to drive REE valuations higher with Chinese companies taking the lead.

]]>
Wed, 26 Jul 2017 09:13:00 +1000 https://www.proactiveinvestors.com.au/companies/news/181437/greenland-minerals-energy-attracts-speculative-buy-as-rare-earth-prices-move-181437.html
<![CDATA[News - Greenland Minerals and Energy advances environmental studies ]]> https://www.proactiveinvestors.com.au/companies/news/181027/greenland-minerals-and-energy-advances-environmental-studies-181027.html Greenland Minerals and Energy (ASX:GGG) has made substantial progress in closing out environmental studies associated with the Kvanefjeld Project located in Greenland.

Recently, meetings were held in Copenhagen with representatives of Greenland’s Environmental Agency for Mineral Resource Activities (EAMRA), and Danish Centre for the Environment (DCE) to work through outstanding issues.

The additional work programs to expand some datasets are underway and are expected to be concluded over the next couple of months.

The results will then be incorporated into the updated studies. 

As Greenland Minerals advances through the permitting process, active work programs are also underway with strategic partner Shenghe Resources Holding Co. Ltd (SHA:600392).

These work programs aim to improve the project cost structure and ensure that it is effectively aligned with downstream rare earth processing.

The Kvanefjeld Project is well‐positioned to become an integral cornerstone of new global rare earth supply networks. 

Dr John Mair, managing director, commented

“Through 2017 we’ve made a lot of progress toward closing out all environmental studies associated with Kvanefjeld.

“Reviews by expert consultants on behalf of the Greenland Government provided recommendations and guidance to constructively assist in presenting very robust studies.

“Importantly, no major issues have been identified, but our aim is to deliver high‐quality assessments to support stakeholder confidence.

“With input from the EAMRA and DCE we planned some additional work programs, which have been implemented and are progressing well.” 

The US$1.59 billion Kvanefjeld 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.

As per the updated feasibility study, the net present value of the project is US$1.59 billion and the internal rate of return is 43.4%.

Project financing costs are US$831.9 million and the project has a payback period of 5 years.

]]>
Tue, 18 Jul 2017 15:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/181027/greenland-minerals-and-energy-advances-environmental-studies-181027.html
<![CDATA[News - Greenland Minerals and Energy Limited positioned for price rise ]]> https://www.proactiveinvestors.com.au/companies/news/180268/greenland-minerals-and-energy-limited-positioned-for-price-rise-180268.html Greenland Minerals and Energy Limited (ASX:GGG) is well-positioned to benefit from steadily increasing rare earth prices in response to improving market fundamentals.

The company’s deep exposure to rare earths comes through its flagship 100%-owned Kvanefjeld Project located in Greenland.

Reforms to the rare earth industry in China have been substantive, with positive impacts, the result of industry consolidation and a crackdown on illegal production.

As supply will be increasingly constrained, shortages will develop and there will be a need for new mine developments outside China.

Demand growth is being driven by the electric cars and trains and new and clean technologies, many of which are closely linked to government policies worldwide.


Kvanefjeld 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.

As per the updated feasibility study, the net present value of the project is US$1.59 billion and the internal rate of return is 43.4%.

Project financing costs are US$831.9 million and the project has a payback period of 5 years.


Rare earth prices

After a long period of consolidation through 2016 rare earth prices have been on the increase since the start of 2017.

For the magnet metals such as neodymium, praseodymium, terbium and lanthanum the price increases have been significant.

Using January 1, 2016 as a base, the price of terbium oxide is up over 40%, the prices of lanthanum oxide is up nearly 30% and for praseodymium and neodymium oxide up around 20%.


Rare earth supply

China established its dominant position in the RE processing industry on the back of a secure and abundant domestic source of rare earth raw materials.

Over the last decade the Chinese Government has taken a number of strategic steps to protect the dominant position of its domestic rare earth industry.

Due to a number of Chinese Government initiatives, a general tightening of the supply of rare earths is now occurring.


China’s 5 year plan

In October 2016 China issued its Rare Earth Industry Development Plan for the period to 2020.

The key objectives of the plan are to:

- Limit rare earth mine production to no more than 140,000 tonnes per annum;
- Reduce separation plant capacity by a third;
- Ensure that 90% of rare earth operations are in compliance with increasingly stringent environmental regulations; and
- Ensure that the proportion of rare earths exported as raw materials is significantly reduced.

Once implemented the plan will restrict rare earth production from domestic raw materials and will further restrict rare earth raw mineral exports.


Looking ahead

Commentators on the rare earth market are forecasting significant long-term growth with forecasts typically suggesting compound annual growth of around 5% for the long term.

Significantly, it is becoming increasingly the case that global rare earth demand is inextricably linked to government policies and regulations.

The link between forecast demand and government policies adds confidence to expectations for demand growth over time.


Well-positioned

Greenland Minerals is well-positioned given its strategic relationship with leading Chinese rare earth company Shenghe and its rare earth exposure through Kvanefjeld.

Kvanefjeld has a number of key attributes that, when integrated with Shenghe’s downstream processing technology and capacity, can provide the potential to play an important role in new supply networks.

These include:

- Scale – largest core‐compliant rare earth resource;
- By‐product revenue streams to strengthen project economics;
- Composition – ideal production profile across key rare earths;
- Advantageous processing that has been extensively pilot plant tested; and
- Favourable country and project location with direct shipping access.

]]>
Tue, 04 Jul 2017 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/180268/greenland-minerals-and-energy-limited-positioned-for-price-rise-180268.html
<![CDATA[News - Greenland Minerals and Energy's chairman lifts stake on market ]]> https://www.proactiveinvestors.com.au/companies/news/178931/greenland-minerals-and-energy-s-chairman-lifts-stake-on-market-178931.html Greenland Minerals and Energy's (ASX:GGG) non-executive chairman, Anthony Ho, has increased his stake in the company through an on-market purchase.

Ho acquired 150,000 shares for a consideration of $14,250, lifting his direct and indirect stake to over 2.6 million shares. He also holds 337,500 listed GGGOB options.

The company's Kvanefjeld Project is a globally unique and significant multi-element project.

Permitting is underway and a regulatory framework has bene established.

The company also has an industrial project partner in the Shenghe Resources Holding, who holds a 12.4% stake.

Shenghe brings experience in downstream rare earth processing and international customer base.

]]>
Thu, 08 Jun 2017 08:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/178931/greenland-minerals-and-energy-s-chairman-lifts-stake-on-market-178931.html
<![CDATA[News - Greenland Minerals and Energy hosts nuclear delegate ]]> https://www.proactiveinvestors.com.au/companies/news/177771/greenland-minerals-and-energy-hosts-nuclear-delegate-177771.html Greenland Minerals and Energy (ASX:GGG) has recently assisted the Greenland government in hosting the director general of the International Atomic Energy Agency (IAEA), Mr Yukiya Amano.

The delegation visit to southern Greenland was headed by Greenland’s premier Kim Kielsen, and included director general Amano, and the Danish ambassador to Austria.

The delegation visited the company’s flagship 100% owned Kvanefjeld Project located in Greenland.

Over the last three years the governments of Greenland and Denmark, in association with IAEA, have worked to establish a legal and regulatory framework for the production and export of uranium from Greenland.

These work programs concluded in 2016, at which point director general Amano was invited to visit Greenland by the respective governments. 


Kvanefjeld 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.

As per the updated feasibility study, the net present value of the project is US$1.59 billion and the internal rate of return is 43.4%.

Project financing costs are US$831.9 million and the project has a payback period of 5 years.


Shenghe partnership

Greenland Minerals recently commenced the technical cooperative program with its strategic partner and 12.5% shareholder, Shenghe Resources Holding Co Ltd (SHA:600392).

This strategic relationship with Shenghe represents a major landmark for Greenland Minerals and the development of its flagship Kvanefjeld rare earths and uranium project.

The fundamental objective of both parties is to develop the Kvanefjeld rare earth and uranium project in Greenland as a cornerstone to new supply networks.

The relationship with A$2+ billion market cap Shenge is significant given its expertise in mining, beneficiation, metallurgy, separation and downstream processing and marketing.

This significance has been captured by a re-rating in the share price, now trading up over 45% year to date at $0.102.


Permitting

Greenland Minerals recently made another step forward in progressing its mining licence application for its flagship Kvanefjeld Project in Greenland.

The services of consulting company Shared Resources were engaged to assist in finalising required environmental and social impact assessments.

The next step of this process involves the social impact assessment (SIA) and environmental impact assessment (EIA) being accepted by the Greenland government.

After this is complete, the next phase of the process will be a period of public consultation.

In parallel to project permitting, Greenland Minerals is working with strategic partner Shenghe to optimise Kvanefjeld and improve its cost‐structure.

Following meetings in China in February and the establishment of a joint technical committee, work programs have been planned and implemented.

Results of the technical review together with progress on permitting at Kvanefjeld have the potential to act as short term share price catalysts.

]]>
Mon, 15 May 2017 13:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/177771/greenland-minerals-and-energy-hosts-nuclear-delegate-177771.html
<![CDATA[News - Greenland Minerals and Energy receives a Speculative Buy from RM Research ]]> https://www.proactiveinvestors.com.au/companies/news/177269/greenland-minerals-and-energy-receives-a-speculative-buy-from-rm-research-177269.html Greenland Minerals and Energy (ASX:GGG) has been rated a Speculative Buy with a target of $0.29 per share by Perth-based RM Research.

The target provides for potential strong upside due to being three times above the last traded price.

The following is an extract from the report "Technical review commences...minor metals demand improves."


Shenghe placement, board appointments

Following the placement of A$4.6 million (late 2016), Shenghe Resources Holding Ltd now holds 12.5% of GGG and Ms Wenting Chen has been appointed as a non-executive director.

Ms Chen has degrees in law, economics and business and has considerable international experience covering mining, banking and financial markets.


Technical review in full swing

Further to our early report (29/11/17) Shenghe and the Company are now working on a technical review involving the optimisation of concentrate grade and recovery through their relationship with state owned rare earth specialists Multipurpose Utilisation of Mineral Resources (“IMUMR”).

In addition, the technical committee will examine potential flow-sheet improvements through the refinery. The review will also investigate the recovery of additional products (e.g. lithium, zirconium) from Kvanefjeld.

The technical review will be conducted in parallel with the mining license application and should lead to significant CAPEX+/-OPEX savings and improved project economics.


Kvanefjeld a platform for Shenghe’s vertically integrated rare earth expansion

Shenghe (market capitalisation A$3.0 billion) is based in Chengdu (Sichuan Province, China) and has expertise in mining, beneficiation, metallurgy, separation and downstream processing and marketing.

Shenghe has its own downstream processing facilities (including a plant in Vietnam) with access to cheap reagents.

Shenghe established Sheng Kang Ning Mining Investment in 2013 as their rare earth and precious metal investment vehicle and Shenghe Resources (Singapore) Pte Ltd as their trading arm in 2015.

RMR consider this is a clear sign of Shenghe’s desire to use Kvanefjeld as a platform to expand their rare earth business interests.


Permitting

A draft Environmental Impact Assessment (EIA) was submitted (late 2015) and is currently being updated following comments by the Greenland Government.

The Social Impact Assessment (SIA) is also due to be submitted with over 90% of comments/suggestions having been addressed.

The Public Consultation Phase will followed acceptance of the EIA and SIA.

Highly experienced consulting firm Shared Resources (ASX Announcement 20/4/2017) has also been appointed to assist with the SIA and EIA.


Price Catalysts

Results of the technical review together with progress on permitting at Kvanefjeld are near term drivers.

We note the recent Chinese policies relating to tighter controls over rare earth production, processing and supply and “strategic” recognition of rare earths which are likely to put further upside pressure on REE prices with Nd, Pr, Tb, LA and Ce already up 10-15% since January 2017.


Action and Recommendation

RMR is maintaining its speculative buy on the back of our risked mid case NAV of A$0.29 based on conservative CHREO and U prices and assuming a 40% free carried interest.

]]>
Thu, 04 May 2017 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/177269/greenland-minerals-and-energy-receives-a-speculative-buy-from-rm-research-177269.html
<![CDATA[News - Greenland Minerals and Energy advances permitting ]]> https://www.proactiveinvestors.com.au/companies/news/176695/greenland-minerals-and-energy-advances-permitting-176695.html Greenland Minerals and Energy (ASX:GGG) has made another step forward in progressing its mining licence application for its flagship Kvanefjeld Project in Greenland.

The services of consulting company Shared Resources, have been engaged to assist in finalising required environmental and social impact assessments.

Shared Resources has extensive experience with regulatory systems in developing countries, which will be of considerable benefit during the mining license application process.

The next step of this process involves the social impact assessment (SIA) and environmental impact assessment (EIA) being accepted by the Greenland government.

After this is complete, the next phase of the process will be a period of public consultation.

In parallel to project permitting, Greenland Minerals is working with strategic partner Shenghe Resources Holding Co Ltd (SHA:600392) to optimise Kvanefjeld and improve its cost‐structure.

Following meetings in China in February and the establishment of a joint technical committee, work programs have been planned and implemented.


Kvanefjeld 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.

As per the updated feasibility study, the net present value of the project is US$1.59 billion and the internal rate of return is 43.4%.

Project financing costs are US$831.9 million and the project has a payback period of 5 years.


Shenghe partnership

Greenland Minerals recently commenced the technical cooperative program with its strategic partner and 12.5% shareholder, Shenghe.

This strategic relationship with Shenghe represents a major landmark for Greenland Minerals and the development of its flagship Kvanefjeld rare earths and uranium project.

The fundamental objective of both parties is to develop the Kvanefjeld rare earth and uranium project in Greenland as a cornerstone to new supply networks.

The relationship with A$2+ billion market cap Shenge is significant given its expertise in mining, beneficiation, metallurgy, separation and downstream processing and marketing.

This significance has been captured by a re-rating in the share price, now trading up over 40% year to date at $0.10.

]]>
Fri, 21 Apr 2017 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/176695/greenland-minerals-and-energy-advances-permitting-176695.html
<![CDATA[News - Greenland Minerals and Energy begins work with Chinese partner ]]> https://www.proactiveinvestors.com.au/companies/news/174890/greenland-minerals-and-energy-begins-work-with-chinese-partner-174890.html Greenland Minerals and Energy (ASX:GGG) has commenced the technical cooperative program with its strategic partner and 12.5% shareholder, Shenghe Resources Holding Co Ltd (SHA:600392).

A joint technical committee has been established to oversee the programs to further enhance and optimise the company’s flagship Kvanefjeld Project in Greenland. 

The technical committee recently met in China to map out work programs to start immediately with the objective of optimising the current flow-sheet to improve project economics.

Dr John Mair, managing director, commented: “We are genuinely excited to have the technical cooperation with our major shareholder Shenghe underway.

“Shenghe and IMUMR bring vast technical capacity to the Kvanefjeld Project, and their involvement will ensure we can achieve the best possible outcome and consolidate the project strengths.”


Focus of optimisation programs

The optimisation programs will begin as soon as the scope‐of‐work documentation is complete and are scheduled to run through 2017 in parallel with the processing of the mining licence application, which is well advanced in Greenland.

The optimisation programs will address two key elements of the project.


Concentrate grade recovery

Shenghe has a long standing relationship with the prestigious Institute of Multipurpose Utilisation of Mineral Resources (IMUMR), a state‐owned scientific research institution which is based in Chengdu and is a 14.9% shareholder in Shenghe.

The technical committee will commission the IMUMR to apply its demonstrated expertise in the areas of rare earths beneficiation to further improve the grade and recovery of rare earths from Kvanefjeld ore. 


Refinery optimisation

The technical committee, with significant input from Shenghe personnel, has identified several potential flow‐sheet improvements which, if proven to be economically viable, will simplify and optimise the project.

The refinery optimisation work will be undertaken in Australia and the program will also explore the recovery of additional by‐products from the leach stream.

]]>
Thu, 16 Mar 2017 14:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/174890/greenland-minerals-and-energy-begins-work-with-chinese-partner-174890.html
<![CDATA[News - Greenland Minerals and Energy: Global X Management Co lifts stake again ]]> https://www.proactiveinvestors.com.au/companies/news/173965/greenland-minerals-and-energy-global-x-management-co-lifts-stake-again-173965.html Greenland Minerals and Energy's (ASX:GGG) substantial shareholder, Global X Management Co, continues to increase its stake in the company.

A change of interests notice has Global X moving to 9.15% from 8.06%.

Global X is advisor to the exchange traded fund known as Global X Uranium ETF, which 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.

Greenland Minerals shares last traded at $0.16, or around five-times higher than their valuation one year ago.


World-class resource

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.

]]>
Wed, 01 Mar 2017 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/173965/greenland-minerals-and-energy-global-x-management-co-lifts-stake-again-173965.html
<![CDATA[News - Greenland Minerals and Energy's substantial holder lifts stake as shares rally ]]> https://www.proactiveinvestors.com.au/companies/news/173086/greenland-minerals-and-energy-s-substantial-holder-lifts-stake-as-shares-rally-173086.html 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.

]]>
Tue, 14 Feb 2017 09:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/173086/greenland-minerals-and-energy-s-substantial-holder-lifts-stake-as-shares-rally-173086.html
<![CDATA[News - Greenland Minerals and Energy targeted by major uranium ETF ]]> https://www.proactiveinvestors.com.au/companies/news/172319/greenland-minerals-and-energy-targeted-by-major-uranium-etf-172319.html 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.

Shares in Greenland Minerals are already up 88% in 2017.

Recently, the company formed a strategic relationship with a subsidiary of Shenghe Resources Holding Co Ltd (SHA:600392).

The fundamental objective of both parties is to develop the Kvanefjeld rare earth and uranium project in Greenland as a cornerstone to new supply networks.

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.

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.

]]>
Mon, 30 Jan 2017 09:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/172319/greenland-minerals-and-energy-targeted-by-major-uranium-etf-172319.html
<![CDATA[News - Greenland Minerals and Energy is a stock on the move ]]> https://www.proactiveinvestors.com.au/companies/news/171437/greenland-minerals-and-energy-is-a-stock-on-the-move-171437.html Today the company is trading still at $0.089, or around three times higher than a year ago.

In a response to the ASX, the company said it is not aware of any reason for the trading activity.

GGG did however reaffirm some recent highlights and noted:

"In December 2016 the company finalised a 12.5% cornerstone investment in the company by Le Shan Shenghe Rare Earth Company Limited, a subsidiary of Shenghe Resources Holding Ltd (Shenghe).

"Shenghe’s proficiency across all aspects of the rare earth industrial chain, combined with an international growth strategy, potentially make it an ideal industrial/strategic partner for the company’s Kvanefjeld Project (rare earths, uranium, zinc).

"As previously announced, both parties will commence technical cooperation that aims to further enhance the project.

"This will be conducted in parallel to project permitting that is currently progressing in Greenland."

]]>
Wed, 11 Jan 2017 10:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/171437/greenland-minerals-and-energy-is-a-stock-on-the-move-171437.html
<![CDATA[News - Greenland Minerals and Energy has a new substantial shareholder ]]> https://www.proactiveinvestors.com.au/companies/news/170704/greenland-minerals-and-energy-has-a-new-substantial-shareholder-170704.html The company recently received final approval from shareholders to place the stock representing 12.5% voting power to Le Shan Shenghe, 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.

The fundamental objective of both parties is to develop the Kvanefjeld rare earth and uranium project in Greenland as a cornerstone to new supply networks.

This strategic relationship with Shenghe represents a major landmark for Greenland Minerals and the development of its flagship Kvanefjeld rare earths and uranium project.

]]>
Tue, 20 Dec 2016 09:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170704/greenland-minerals-and-energy-has-a-new-substantial-shareholder-170704.html
<![CDATA[News - Greenland Minerals and Energy appoints Wenting Chen to the board ]]> https://www.proactiveinvestors.com.au/companies/news/170368/greenland-minerals-and-energy-appoints-wenting-chen-to-the-board-170368.html The appointment follows the completion of Shenghe’s acquisition of a 12.5% interest in GMEL.

Chen joined Shenghe in early 2014 to lead the overseas investment department.

Tony Ho, chairman, commented: "On behalf of fellow directors, I welcome Ms Wenting Chen to the board.

"Wenting’s international commercial experience, competence and professionalism will serve to strengthen the board, as we work toward developing the Kvanefjeld rare earth project in Greenland.

"Her strong communication skills will be highly beneficial in assisting our future cooperation with Shenghe."

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.


Broker attention

Greenland Minerals recently received a Speculative Buy recommendation and a A$0.23 per share price target from Perth-broker RM Research.

]]>
Tue, 13 Dec 2016 15:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170368/greenland-minerals-and-energy-appoints-wenting-chen-to-the-board-170368.html
<![CDATA[News - Greenland Minerals and Energy has a new substantial shareholder from New York ]]> https://www.proactiveinvestors.com.au/companies/news/170080/greenland-minerals-and-energy-has-a-new-substantial-shareholder-from-new-york-170080.html Greenland Minerals also recently received final approval from shareholders to place 125 million shares to 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.

The placement was subject to approval from Australia’s Foreign Investment Review Board (FIRB) and shareholders, both which have now been attained.

Greenland Minerals will receive $4.625 million through the issue of 125 million shares.

This strategic relationship with Shenghe represents a major landmark for Greenland Minerals and the development of its flagship Kvanefjeld rare earths and uranium project.


Broker attention

Greenland Minerals recently received a Speculative Buy recommendation and a A$0.23 per share price target from Perth-broker RM Research, or more than three times the current valuation.

]]>
Wed, 07 Dec 2016 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170080/greenland-minerals-and-energy-has-a-new-substantial-shareholder-from-new-york-170080.html