www.ggg.gl
Greenland Minerals and Energy Ltd, is a mineral exploration and development company, focused on unlocking the mineral riches of Greenland, one of the world’s last natural resource frontiers. Our aim is simple; to identify large mineral deposits with the potential to underpin long term, economically robust mining operations. This is achieved through technically-focused exploration, aggressive resource development programs, and a strong understanding of the fundamentals that drive the business of mineral exploration and development globally.
Our flagship project is Kvanefjeld, a multi-element deposit located near the southwest tip of Greenland. Through focused exploration, Kvanefjeld is rapidly growing to become one to the world’s largest undeveloped deposits of rare earth elements, uranium and naturally occurring sodium fluoride, commodities with long term forecasts for strong demand increases.
Greenland Minerals and Energy share spike prompts ASX query, cites rare earth prices
A intra-day share spike to $0.775 today, from a close of $0.65 yesterday in the Greenland Minerals and Energy (ASX: GGG) share price, has prompted an ASX price and volume query.
Greenland said there in no material information that has not been announced, but provided the explanation that, 'Rare earth prices have recently increased with consequent effects on the share price of a number of other potential rare earth producers.'
Greenland then stated, 'We refer to our announcement on 10 September 2010 referring to the amendment to the standard terms for exploration license in Greenland which, upon application approval, allow for the inclusion of radioactive elements as exploitable minerals for the purpose of evaluation and reporting.'
'The company has lodged its application for the license change and is awaiting the response of the Greenland government.'
Subsequently the Greenland shares have continued to trade higher after the ASX response by the company, last trading 22% higher at $0.795.
