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.