Greenland Minerals - Major capital cost reduction

29 July 2019

Kvanefjeld's cost position improves regularly.

Greenland Minerals' Kvanefjeld project holds the world's largest undeveloped rare earths deposit. Recently completed optimization studies have firmed up what is, by rare earth industry standards, a remarkably simple process flow sheet and a highly competitive cost-structure. Greenland Minerals and its collaborators have progressively driven down the estimated project cost base since completion of Kvanefjeld's initial feasibility study in 2015. The most recent feasibility study in July 2019 highlights further improvements to project metrics. The project's capital cost estimate (US$505m) has been reduced by a further ~40% from the US$832m reported in 2016's update if the initial feasibility study. This note revisits our 5 February 2019 update report on GGG.

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