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Greenland Minerals Ltd

Greenland Minerals managing director exercises options

The options were exercised at-the-money meaning the same price as the share price.

three hands dropping coins into jars
The recent option exercises show a confidence in the company's future

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.

Quick facts: Greenland Minerals Ltd

Price: $0.14

Market: ASX
Market Cap: $166.74 m
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