Greenland Minerals and Energy (ASX:GGG) is focussed on its 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.
This is sufficient to underpin an initial 37 year mine-life.
The project is poised to be a globally significant producer of high-value critical rare earth concentrates, in the lowest cost quartile.
The company has now been granted an ASX trading halt, pending details of a capital raising.
The halt will last until the opening of trade on Tuesday 25th August 2015, or earlier if an announcement is made to the market.
News: Greenland Minerals and Energy readies to raise
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