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Great news from Greenland Energy and Minerals
December 2012 Quarterly Report
Highlights
December Quarter Activities The December Quarter 2012 saw GMEL end the calendar year on a positive note with the company having achieved several key milestones. A $17M (AUD) capital raising was finalised along with all necessary shareholder approvals. This facilitated the execution of the settlement that sees GMEL acquire the outstanding 39% of the Kvanefjeld project, thereby moving to 100% ownership. The move to 100% ownership of Kvanefjeld had been a key milestone for GMEL in 2012, positioning the company to effectively structure strategic partnerships at the project level. A highly successful continuous pilot plant operation of the Kvanefjeld concentrator circuit was undertaken in November. The pilot plant operation confirmed the viability of the flotation circuit proposed for Kvanefjeld that GMEL has now developed and rigorously evaluated. The successful completion of the continuous piloting represents the final phase of process de-risking for the Kvanefjeld concentrator circuit. Progress was also made on the Kvanefjeld refinery stage with a successful testwork program of semi-continuous leaching completed at the Australian National Science and Technology Organisation (ANSTO). An international application under the Patent Cooperation Treaty (PCT) was filed for the Kvanefjeld Hydrometallurgical Refinery Process on the 30th November 2012. In Greenland's fall sitting of parliament all political parties unanimously supported a proposed fast-tracked independent review on issues associated with uranium in the case of removing the zero-tolerance policy. The review is scheduled to be finalised in March prior to the spring sitting of parliament. The review is aimed to increase the knowledge base on aspects associated with uranium production and regulation, including issues associated with foreign policy. In December company executives joined a delegation led by the Greenland government on a visit to South Korea. The trip to Seoul followed an official visit by the South Korean President to Greenland in September 2012, and aimed at promoting emerging opportunities in Greenland's resources sector. Presentations we made by members of the Greenland government and representatives of Greenland's resources industry to forums that were very well attended by representatives of South Korean corporations; a number of which are well known to GMEL and the Kvanefjeld project. The visit to South Korea was a very positive exercise for all involved and was covered extensively in the Greenlandic, Danish and South Korean media. GMEL representatives also participated in a Danish Industry forum in Copenhagen in January 2013 to promote emerging opportunities in Greenland's resources sector. To read the full Q4 2012 report visit http://www.ggg.gl/docs/quarterly-reports/Q4-2012-Quarterly-Activity-Report.pdf Read about Australian Rare Earths
Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice. |
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