Greenland Minerals and Energy's (ASX: GGG) managing director Roderick McIllree has acquired 350,000 shares on market, bringing his total holding up to 11,761,456 shares.
McIllree paid a total of A$106,500 for the shares, which were acquired in three separate transactions, for an average price of A$0.304 each.
Besides the shares, he also holds 2.8 million performance options in three tranches and 2.7 million performance rights, also in three tranches.
The company is moving towards 100% ownership of the Kvanefjeld multi-element project, recognised as one of the world’s largest resources of heavy and light rare earth elements and uranium.
A comprehensive prefeasibility study released in May had provided a clear indication of the potential for Kvanefjeld to be developed as a long life, cost‐competitive producer of both heavy and light rare earth elements and uranium oxide.
Greenland Minerals is continuing to optimise the Kvanefjeld project, and focus on completing a mining license application, in line with its strategy of progressively derisking the project to generate greater value recognition as it advances towards development.
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