Greenland Mineral and Energy HUGE REE deposit

[Sparty]

Greenland Minerals and Energy confirms huge Rare Earth Resource in Greenland Nice to see this story published today by Proactive Investor confirming that GGG is a goer... Investors may not have twigged to the news, but Greenland Minerals and Energy (ASX: GGG) released an upbeat new resource statement in resource rich Greenland at Kvanefjeld. Previously perceived as a uranium play, the new rare earth resource of 4.8 million tonnes of Rare Earth Oxide (REO) has surely added new upside for Greenland. At 4.8 mt REO, the new resource statement confirms Kvanefjeld as one of the largest global rare earth resources. Importantly, 79% of REO, zinc and uranium resources are in the Indicated category, with 21% Inferred. The multi-element resource is inclusive of rare earth oxide (REO), zinc, uranium and sodium fluoride. The new Resource Statement estimates the inventory of contained metal within a 457,000,000 tonne ore body to be: - 4.91 Mt of Total Rare Earth Oxide - 0.99 Mt of Zinc - 0.12 Mt of Uranium Oxide. - 3.09 Mt of Sodium Fluoride The Pre-Feasibility Study (PFS) is on-schedule for completion late in the third quarter, 2009. Preliminary metallurgical testwork has confirmed the suitability of an alkaline leach approach for separating and recovering the rare earths. China holds a virtual monopoly on the supply of rare earth elements from China. And now with recent acquisitions by Chinese interests of major deposits outside China of Arafura Resources (ASX: ARU) and effective acquisition of Lynas Corporation (ASX: LYC) there is even less western supply. Rare earths are essential for use in high tech and green industries such as wind turbines, plasma televisions, mobile phones and hybrid car batteries. While Greenland, as a nation, has itself been wrestling with how to un-lock vast its vast mineral wealth, for other countries such as Japan and South Korea finding reliable supply outside of China is paramount. In-principle support for uranium production as a byproduct of multi-element exploration was given in the transfer from the Danish Crown to Greenland as part of the self governing transition. While not without risk, investors may just find that market forces and a push from the east as well as a successful PFS may assist to fast-track Greenlands Minerals and Energy's rare earth endowment at Kvanefjeld and its market valuation.