Greenland Minerals Ltd (ASX:GGG) (OTCMKTS:GDLNF) (FRA:G7P) is in a trading halt pending the results of the recent election in Greenland.
The halt will remain in place until the start of regular ASX trading on Monday, April 12, or when an announcement is made to market, whichever occurs first.
Kvanefjeld Project potential
The company has its sights set on the booming magnet metals market, as it seeks to become a world-renowned provider of rare earth materials.
Its 2020 annual report highlights the progress made at the flagship Kvanefjeld Project and the potential it has to be a key plank in the global supply of rare earth materials.
Kvanefjeld is centred on the globally unique Ilimaussaq Alkaline Complex in southern Greenland and more than 1 billion tonnes of mineral resources have been delineated to date in the project area.