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    GGG   AU000000GGG4

GREENLAND MINERALS LIMITED

(GGG)
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Greenland Minerals and Energy : Appointment of Mr James Eggins to Manager – Uranium Marketing and Contracts

06/20/2014 | 04:19pm EDT
ASX: GGG

Company Announcement, 20th June, 2014

Appointment of Mr James Eggins to Manager - Uranium Marketing and Contracts


Greenland Minerals and Energy Ltd ('GMEL' or 'the Company') is pleased to advise that it has appointed Mr James Eggins to the role of Manager - Uranium Marketing and Contracts. James has been actively involved in the uranium industry for over 30 years, with a focus on marketing roles, mine to market logistics and regulatory compliance. The appointment is timely as the Company works toward finalising a mining license application for the Kvanefjeld rare earth - uranium project, and further developing the marketing and commercial strategy.
To date GMEL has placed a significant focus on developing a rare earth business strategy, which took a significant step forward in March, 2014, when the Company signed a Memorandum of Understanding (MoU) with China Non‐Ferrous Metal Industry's Foreign Engineering and Construction Co. Ltd. (NFC). Under the terms set out in the MoU, both parties are conducting ongoing technical exchange, and working toward structuring a business partnership that will create a complete rare earth value chain that markets products to end‐users globally.
GMEL is now placing an increased focus on developing the uranium business strategy, and importantly bolstering the company's experience in the areas of regulatory compliance associated with uranium production. Following the removal in Greenland of a long‐standing policy against uranium production in late 2013, regulatory bodies in Greenland and Denmark are working toward implementing the necessary requirements to effectively manage mining operations that involve uranium production. James Eggins' extensive experience in this field will greatly assist GMEL in effectively interfacing with regulatory bodies on uranium‐related issues.
James Eggins career has involved roles for Queensland Mines Ltd (Nabarlek uranium project), CRA Ltd (Kintyre uranium project), WMC Resources (Olympic Dam) and most recently for Paladin Energy Ltd (Langer Heinrich, Namibia; and Kayelekera, Malawi) where he played a key part in both regulatory compliance and sales contract development.
James holds a Bachelor of Laws, with Honours, from the Australian National University.

Yours faithfully,

Roderick McIllree

Managing Director

Greenland Minerals and Energy Ltd

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 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 David Tasker Managing Director Professional PR +61 8 9382 2322 +61 8 9388 0944

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, Sorensen and Zone 3 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.

This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

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Financials
Sales 2020 0,16 M 0,12 M 0,12 M
Net income 2020 -3,08 M -2,36 M -2,36 M
Net cash 2020 36,0 M 27,6 M 27,6 M
P/E ratio 2020 -102x
Yield 2020 -
Capitalization 141 M 108 M 108 M
EV / Sales 2019 2 293x
EV / Sales 2020 2 018x
Nbr of Employees 28
Free-Float 81,4%
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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
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