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Greenland Minerals And Energy Gains Substantial Shareholder, Buys On Market

Greenland Minerals and Energy (ASX: GGG) has gained Quadrant Capital Advisors as a new substantial shareholder with a 5.01% interest.

Quadrant purchased around 20.9 million shares on-market for an all cash consideration.

Highlighting the potential of Greenland and its Kvanefjeld multi-element project, the company has identified a simple, cost-effective path to rare earth oxide production by using beneficiation and atmospheric leaching.

Greenland Minerals' technical team have validated process enhancements in the atmospheric leach phase of the flowsheet, which serve to produce a cleaner separate between REE's and uranium.

Importantly, the cleaner product separation has allowed for major circuit simplification thereby improving the overall product recovery and reducing costs.

Kvanefjeld is underpinned by one of world's largest REE‐uranium resources. The 2012 Pre-Feasibility Study has demonstrated long‐life, cost‐effective production of uranium and rare earths.

The overall JORC Resource inventory is 956 million tonnes containing 575 million pounds of U3O8, 10.33 million tonnes of total rare earth oxide (TREO) and 2.25 million tonnes of zinc. The TREO includes 0.37 million tonnes of heavy rare earth oxide and 0.84 million tonnes yttrium oxide.

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