As per an announcement last week, Kvanefjeld is now one of the largest rare earth resources in the world with the 457 million tonnes deposit containing 4.91Mt of rare earth oxide (REO), as well as zinc (990,000t of contained zinc), uranium (120,000t contained) and sodium fluoride (3.09Mt). Moreover, 79% of the REO, zinc and uranium resources are in the indicated category. However, the downside for GGG is the current zero-tolerance toward uranium exploration and exploitation in Greenland. This is a very big downside indeed given that while uranium only oxide makes up a few percent of Kvanefjeld’s potential ore constituents by concentration, it in the order of 20% by value. harold
GGG Price at posting:
36.5¢ Sentiment: LT Buy Disclosure: Held
