News: Greenland Minerals and Energy granted ASX trading halt

Greenland Minerals and Energy (ASX:GGG) has been granted a trading halt by the ASX, with its shares placed in pre-open.

The company said that it requested the halt, "... as it waits for the transfer and clearance of funds for the underwritten amount of the rights issue to enable the issue of shares and options applied for under the rights issue."

Greenland Minerals is focussed on the Kvanefjeld rare earth-uranium project in Greenland.

Kvanefjeld is one of the most advanced, undeveloped rare earth and uranium projects globally with a maiden Ore Reserve of 108 million tonnes at 362ppm U3O8, 2,600ppm zinc and 14,300ppm total rare earth oxides.

The halt will remain in place until the opening of trade on Friday 9th October 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.