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Greenland Minerals and Energy's (ASX: GGG) flagship project is Kvanefjeld, a multi-element deposit located near the southwest tip of Greenland. Kvanefjeld is rapidly growing into one of the world’s largest undeveloped deposits of rare earth elements, uranium and naturally occurring sodium fluoride.
Greenland Minerals and Energy MD Rod McIllree leads the wayOctober 09 2012, 3:47am
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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