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Old 04-24-2013, 01:44 PM
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Highlights
  • National election in Greenland on March 12th leads to a change in government; new coalition government led by the Siumut Party, with a parliamentary majority
  • New government quick to highlight Kvanefjeld as a priority project, with an aim of fast-tracking regulations to permit uranium exploitation from multi-element projects
  • Kvanefjeld project implementation strategy developed to reduce project risk through staged development scenario; initial start-up capacity of 3Mtp/a, with an expansion to 6Mtp/a
  • Mine and Concentrator Study complete for initial 3Mtp/a operation, following two successful pilot plant campaigns of the concentrator (flotation) circuit
  • The Study demonstrates significantly reduced start-up costs - now estimated at $810M
  • The mine and concentrator capable of treating 3Mtpa is anticipated to cost $450M
  • The refinery to produce marketable REE and U products is estimated to cost $360M
  • The mine and concentrator (flotation circuit) will produce a high-grade REE-uranium mineral concentrate, along with zinc (6,180tpa) and fluorspar by-products (8,865tpa)
  • The REE-uranium mineral concentrate containing 14% total REO and 0.24% U3O8 will then be treated in a dedicated refinery to produce 23,000tpa of high purity mixed rare earth hydroxide, and 1.1 Mlbs U3O8,

To read the full ASX announcement go to http://www.ggg.gl/docs/quarterly-reports/Q1_2013_Quarterly_Activity_Report.pdf

 

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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