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Greenland Minerals Ltd

Greenland Minerals chairman increases holding with on-market purchase

Anthony Ho has this month purchased 250,000 shares, taking his holding to more than 3.775 million.

Australian bank notes
The company is focused on the Kvanefjeld Rare Earth Project in Greenland

Greenland Minerals Limited (ASX:GGG) chairman Anthony Ho has increased his holding in the company through an on-market share purchase.

The non-executive chairman bought 250,000 shares on April 2, 2019, with a value of $12,750.

He now holds more than 3.775 million shares.

READ: Greenland Minerals' Kvanefjeld social assessment ready for public consultation

Last week, the company was notified by authorities in Greenland that the Social Impact Assessment (SIA) for the Kvanefjeld Rare Earth Project meets standards required for public consultation.

This important milestone in the mining licence application process allows an opportunity for stakeholders to provide feedback from public hearings.

A final SIA will then be prepared incorporating feedback from the hearings and will form part of the package of material submitted to the Government of Greenland prior to the formal issue of a mining licence.

READ: Greenland Minerals’ cost reduction drive reaping returns for Kvanefjeld

Greenland Minerals is also delivering cost reductions as it moves towards a decision to proceed with Kvanefjeld development.

READ: Greenland Minerals trims civil construction cost estimates for Kvanefjeld by 44%

This includes a 44% reduction in estimated civil construction costs to US$175 million from US$313 million in its 2016 feasibility study.

The estimated cost reduction is part of an optimisation program that has involved inputs from leading industry specialist groups.

Quick facts: Greenland Minerals Ltd

Price: $0.14

Market: ASX
Market Cap: $160.78 m
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