Greenland Minerals Limited provided an overview of the economic and environmental implications of the production of byproducts from the Company's 100% owned Kvanefjeld rare earth project (`Kvanefjeld' or `the Project'). When developed, Kvanefjeld will be one of the producers of rare earths (REs), producing in excess of 30,000 tpa of rare earth oxide (equivalent) in an intermediate product. The intermediate product will contain very significant quantities of the critical magnet rare earths neodymium, praseodymium, terbium and dysprosium. Kvanefjeld will also recover a series of byproducts during production of the RE intermediate product. The Project will produce commercially significant quantities of uranium oxide, zinc concentrate, and fluorspar. At current prices, rare earths are forecast to contribute over 90% of Project revenues. The incremental cost of byproduct recovery is low and the byproduct revenue generated contributes to lower the production cost of rare earths. Importantly, the recovery of byproducts has the effect of removing environmentally adverse elements from the Project's tailings streams thereby reducing the Project's overall environmental impact. The Kvanefjeld deposit contains a large lowgrade uranium resource, of which a significant proportion is hosted within the main RE minerals. To produce a highpurity intermediate RE product it is necessary to remove the uranium via a uranium recovery circuit. The uranium will be recovered as uranium peroxide (UO4) and will meet the specifications set by uranium conversion facilities. Zinc occurs throughout the Kvanefjeld deposit at a grade of approximately 0.23%. The zinc is recovered in a flotation concentrate at the first stage in the RE production process. The removal of zinc prior to RE flotation, reduces the chemical treatment stages in the refinery circuit. The Kvanefjeld deposit contains the water soluble mineral villiaumite which is the source of fluoride in the Project area. In the upper levels of the deposit much of the villiaumite has been dissolved by groundwater, and as a result, the levels of fluoride in groundwater are naturally elevated. Annually, by products will generate USD 60 million in revenue for the Project, reducing the cost of producing REs by approximately USD 1.90/kg of RE, or 40% of the cost of producing a RE intermediate product in Greenland. This ensures Kvanefjeld will be one of the lowestcost, globally significant producers of rare earths.