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Old 04-30-2015, 01:53 AM
Sparty Sparty is offline
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Default GGG - 593 million pounds U3O8, 11.13 million tonnes TREO

March 2015 Quarterly Report


Highlights

  • Updated Mineral Resource Estimate for the Kvanefjeld Project
    • 143 million tonnes in 'Measured' category @ 303ppm U3O8, 1.2% TREO and 0.24% zinc
    • This includes 54 million tonnes @ 403ppm U3O8, 1.4% TREO and 0.24% zinc
    • Project global resources now stands at 1.01 billion tonnes containing 593 million pounds U3O8, 11.13 million tonnes TREO
  • New Memorandum of Understanding Signed With China Non-Ferrous Metal Industry's Foreign Engineering and Construction Co. Ltd. (NFC)
    • Follows 12 months of successful cooperation and information exchange on Kvanefjeld
    • New MoU focuses on the next steps toward jointly developing Kvanefjeld and establishing a fully-integrated, cost-competitive critical rare earth business
    • NFC have conducted the capital cost estimation for the Kvanefjeld Feasibility Study
  • Exploration License over Kvanefjeld Project Area renewed for further three years
    • Exploration license can be converted to an exploitation license following approvals of an exploitation license application and meeting all regulatory requirements
  • Funding facility entered into with Long State Investments Limited
    • Provides a flexible means to fund ongoing work programs to finalise all aspects of a mining license application, commence the permitting process and advance the Kvanefjeld Project to bankable status

To read the full ASX announcement go to http://www.ggg.gl/docs/quarterly-rep...ity_Report.pdf
To read the latest company presentation go to http://www.ggg.gl/docs/ASX-announcements/GMEL_Company_Presentation_March_2015.pdf
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