Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Australia
  4. Australian Stock Exchange
  5. Greenland Minerals Limited
  6. News
  7. Summary
    GGG   AU000000GGG4

GREENLAND MINERALS LIMITED

(GGG)
  Report
SummaryChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Greenland Minerals and Energy Limited : GMEL Set For Key Role in EU Backed Rare Earth Supply Chain Initiative

07/25/2013 | 05:22am EDT

Company Announcement, 25th July, 2013

Greenland Minerals and Energy Set For Key Role in EU? Backed Rare Earth Supply Chain Initiative

In January, 2013 the European Union (EU) initiated the EURARE Project "Development of a sustainable exploitation scheme for Europe's rare earth ore deposits" which aims to establish a rare earth element value creation chain in Europe. Greenland Minerals and Energy (Trading) A/S, the wholly owned Greenland subsidiary of Greenland Minerals and Energy Ltd ("GMEL" or "the Company") is a key participant in the EURARE Project, owing to the Company's Kvanefjeld uranium? rare earth project.

The Kvanefjeld project has a resource base of 10.3Mt of rare earth oxide (REO) making it the world's largest JORC?code or NI43?101 compliant REO resource, as well as containing 575Mlb's of U3O8. Feasibility studies on Kvanefjeld are well advanced, demonstrating a long?life, cost?competitive project. Kvanefjeld is slated to be a polymetallic operation that produces uranium, zinc and rare earth concentrates, with the clear potential to be a globally significant producer of the critical, high? value rare earths for which the demand outlook is strong.

The program for EURARE is being coordinated by the National Technical University of Athens (NTUA)

who have emphasized that the participation of GMEL is important to the Project's success.

"Greenland Minerals and Energy bring one of the world's great rare earth deposits to the EURARE program. Their technical experience in developing metallurgical processes for rare earth treatment provide a significant contribution to the project. A solid industry participant is needed for the success of the EURARE Project"

- Professor Ioannis Paspaliaris, NTUA ? EURARE Project Coordinator

GMEL is one of four mining development companies involved in the EURARE Project; with the remainder of the consortium made up of geological surveys, university?affiliated research groups, metallurgical and engineering groups, equipment manufacturers, and end?users. Owing to its respected technical expertise in the processing of REE?uranium bearing ores, the Company has been appointed as the program leader for the work stream that addresses the beneficiation (concentration) of ores. Sample material from Kvanefjeld will be one of the main source materials used in the EURARE test work programs.

GMEL has already developed a beneficiation circuit for the Kvanefjeld project that delivers an industry?leading upgrade ratio, with test work for the circuit complete following two successful pilot plant operations. The development of the Kvanefjeld beneficiation circuit has been presented in industry?focussed technical forums including ALTA metallurgical conferences where some of the world's latest industry developments are showcased.

The EURARE Project has an overall budget of ?9,000,000 for the 60 month study period. Greenland Minerals and Energy is set to directly receive up to ?375,000 toward metallurgical studies and logistical costs relating to the scope of the Project.

For GMEL the EURARE Project provides an excellent avenue to target new minerals at Kvanefjeld and improve overall metal recoveries through collaborative research programs. The EURARE project is aiming to perform pilot plants for both beneficiation and hydrometallurgical circuits in 2014 and 2015. This advanced and large scale metallurgical testwork, which will utilise sample material from Kvanefjeld, will further increase the processing knowledge and of great benefit to GMEL. The pilot plants are to be funded through the main EURARE program independent of company allotted funds, and, therefore, represent further significant indirect value.

GMEL is excited to be working with a diverse group of technical experts all aligned to establish a value creation chain for rare earth elements in the EU.

Yours faithfully,

Roderick McIllree

Managing Director
Greenland Minerals and Energy Ltd

Statement of Identified Mineral Resources, Kvanefjeld Multi?Element Project (Prepared by SRK Consulting)

Multi?Element Resources Classification, Tonnage and Grade

Contained Metal

Cut?off

Classification M tonnes TREO2 U3O8 LREO HREO

REO

Y2O3

Zn

TREO

HREO Y2O3

U3O8

Zn

(U O ppm)1

Kvanefjeld ? March 2011

Mt ppm ppm ppm ppm ppm ppm ppm Mt Mt Mt M lbs Mt
150 Indicated 437 10929 274 9626 402 10029 900 2212 4.77 0.18 0.39 263 0.97
150 Inferred 182 9763 216 8630 356 8986 776 2134 1.78 0.06 0.14 86 0.39
150 Grand Total 619 10585 257 9333 389 9721 864 2189 6.55 0.24 0.53 350 1.36
200 Indicated 291 11849 325 10452 419 10871 978 2343 3.45 0.12 0.28 208 0.68
200 Inferred 79 11086 275 9932 343 10275 811 2478 0.88 0.03 0.06 48 0.20
200 Grand Total 370 11686 314 10341 403 10743 942 2372 4.32 0.15 0.35 256 0.88
250 Indicated 231 12429 352 10950 443 11389 1041 2363 2.84 0.10 0.24 178 0.55
250 Inferred 41 12204 324 10929 366 11319 886 2598 0.46 0.02 0.03 29 0.11
250 Grand Total 272 12395 347 10947 431 11378 1017 2398 3.33 0.12 0.27 208 0.65
300 Indicated 177 13013 374 11437 469 11906 1107 2414 2.30 0.08 0.20 146 0.43
300 Inferred 24 13120 362 11763 396 12158 962 2671 0.31 0.01 0.02 19 0.06
300 Grand Total 200 13025 373 11475 460 11935 1090 2444 2.61 0.09 0.22 164 0.49
350 Indicated 111 13735 404 12040 503 12543 1192 2487 1.52 0.06 0.13 98 0.27
350 Inferred 12 13729 403 12239 436 12675 1054 2826 0.16 0.01 0.01 10 0.03
350 Grand Total 122 13735 404 12059 497 12556 1179 2519 1.68 0.06 0.14 108 0.31

Sørensen ? March 2012

150 Inferred 242 11022 304 9729 398 10127 895 2602 2.67 0.10 0.22 162 0.63
200 Inferred 186 11554 344 10223 399 10622 932 2802 2.15 0.07 0.17 141 0.52
250 Inferred 148 11847 375 10480 407 10887 961 2932 1.75 0.06 0.14 123 0.43
300 Inferred 119 12068 400 10671 414 11084 983 3023 1.44 0.05 0.12 105 0.36
350 Inferred 92 12393 422 10967 422 11389 1004 3080 1.14 0.04 0.09 85 0.28

Zone 3 ? May 2012

150 Inferred 95 11609 300 10242 396 10638 971 2768 1.11 0.04 0.09 63 0.26
200 Inferred 89 11665 310 10276 400 10676 989 2806 1.03 0.04 0.09 60 0.25
250 Inferred 71 11907 330 10471 410 10882 1026 2902 0.84 0.03 0.07 51 0.2
300 Inferred 47 12407 358 10887 433 11319 1087 3008 0.58 0.02 0.05 37 0.14
350 Inferred 24 13048 392 11392 471 11864 1184 3043 0.31 0.01 0.03 21 0.07

Project Total Cut?off Classification M tonnes TREO2 U O LREO HREO REO Y O Zn TREO HREO Y O U O Zn 3 8 2 3

1

2 3 3 8


(U3O8 ppm)
Mt ppm ppm ppm ppm ppm ppm ppm Mt Mt Mt M lbs Mt
150 Indicated 437 10929 274 9626 402 10029 900 2212 4.77 0.18 0.39 263 0.97
150 Inferred 520 10687 272 9437 383 9820 867 2468 5.55 0.20 0.45 312 1.28

150 Grand Total 956 10798 273 9524 392 9915 882 2351 10.33 0.37 0.84 575 2.25

1There is greater coverage of assays for uranium than other elements owing to historic spectral assays. U O has therefore been used to define the cut?off grades to maximise the confidence in the resource calculations.

2Total Rare Earth Oxide (TREO) refers to the rare earth elements in the lanthanide series plus yttrium. Note: Figures quoted may not sum due to rounding.

ABOUT GREENLAND MINERALS AND ENERGY LTD.

Greenland Minerals and Energy Ltd (ASX - GGG) is an exploration and development company focused on developing high?quality mineral projects in Greenland. The Company's flagship project is the 100% owned Kvanefjeld multi?element deposit (Rare Earth Elements, Uranium, Zinc), that is rapidly emerging as a premier specialty metals project. A comprehensive pre?feasibility study has demonstrated the potential for a large? scale, cost?competitive, multi?element mining operation. For further information on Greenland Minerals and

Energy visit http://www.ggg.gl or contact:

Roderick Mcillree Managing Director +61 8 9382 2322

Greenland Minerals and Energy Ltd will continue to advance the Kvanefjeld project in a manner that is in accord with both Greenlandic Government and local community expectations, and looks forward to being part of continued stakeholder discussions on the social and economic benefits associated with the development of the Kvanefjeld Project.

The information in this report that relates to exploration targets, exploration results, geological interpretations, appropriateness of cut?off grades, and reasonable expectation of potential viability of quoted rare earth element, uranium, and zinc resources is based on information compiled by Mr Jeremy Whybrow. Mr Whybrow is a director of the Company and a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Whybrow has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the

2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Whybrow consents to the reporting of this information in the form and context in which it appears.

The geological model and geostatistical estimation for the Kvanefjeld and Zone 2 deposits were prepared by Robin Simpson of SRK Consulting. Mr Simpson is a Member of the Australian Institute of Geoscientists (AIG), and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Simpson consents to the reporting of information relating to the geological model and geostatistical estimation in the form and context in which it appears.

distributed by

ę Publicnow 2013
All news about GREENLAND MINERALS LIMITED
04/21GREENLAND MINERALSá : Seeks Legal Advice Regarding Rare Earth Project in Greenla..
MT
04/20GREENLAND MINERALSá : to begin talks with new govt over Kvanefjeld project
RE
04/09Australia's Greenland Minerals says it is focused on rare earths not uranium
RE
04/08Banks, miners help Australian shares notch 13-month closing high
RE
04/07GREENLAND MINERALSá : Main opposition party against mining wins Greenland electi..
AQ
04/07GREENLAND MINERALSá : Left-wing party wins Greenland election, opposes big minin..
RE
04/06GREENLAND MINERALSá : election shows divide over rare-earth metals mine
AQ
04/06GREENLAND MINERALSá : Polls close in Greenland election closely watched by globa..
RE
04/05Greenland holds election closely watched by global mining industry
RE
03/04GREENLAND MINERALSá : Five Eyes alliance urged to forge ties with Greenland to s..
RE
More news
Financials
Sales 2020 0,16 M 0,12 M 0,12 M
Net income 2020 -3,08 M -2,37 M -2,37 M
Net cash 2020 36,0 M 27,7 M 27,7 M
P/E ratio 2020 -102x
Yield 2020 -
Capitalization 154 M 119 M 119 M
EV / Sales 2019 2 293x
EV / Sales 2020 2 018x
Nbr of Employees 28
Free-Float 81,4%
Chart GREENLAND MINERALS LIMITED
Duration : Period :
Greenland Minerals Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GREENLAND MINERALS LIMITED
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Managers and Directors
NameTitle
John Lefroy Mair Managing Director & Executive Director
Miles Simon Guy Chief Financial Officer & Secretary
Peng Ho Non-Executive Chairman
Simon Kenneth Cato Non-Executive Director
Xiaolei Guo Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
GREENLAND MINERALS LIMITED-56.60%119
BHP GROUP15.37%175 388
RIO TINTO PLC11.86%143 278
ANGLO AMERICAN PLC29.80%54 989
GRUPO MÉXICO, S.A.B. DE C.V.10.97%36 490
SAUDI ARABIAN MINING COMPANY (MA'ADEN)44.44%19 097