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Greenland Minerals in back-to-back trading halt with capital raising announcement pending

Securities will resume trading on the earlier of the start of normal trading on Friday, November 27, 2020, or when the announcement is released to the market.

Greenland Minerals Ltd - Greenland Minerals in back-to-back trading halt with capital raising announcement pending
The company’s Kvanefjeld Rare Earth Project is edging closer to permitting

Greenland Minerals Ltd (ASX:GGG) has entered an immediate consecutive back-to-back trading halt, pending it releasing an announcement around a capital raising.

The securities will remain in trading halt until the earlier of the commencement of normal trading on Friday, November 27, 2020, or when the announcement is released to the market.

GGG has a market cap of approximately $347.2 million and shares last traded at 29 cents, having risen from 13.5 cents at the market close on July 14, reaching a 7-year high of 34.5 cents on October 13.

Kvanefjeld Project permitting

The Kvanefjeld Rare Earth Project is edging closer to permitting, having reached a major milestone with the sign-off of the Environmental Impact Assessment (EIA) and has moved into the statutory public consultation phase.

All components of a mining licence application have been completed with the Social Impact Assessment (SIA) and Maritime Safety study, having previously been accepted.

The company looks forward to updating on the timing of the public consultation phase and subsequent steps to complete project permitting.

Quick facts: Greenland Minerals Ltd

Price: 0.15 AUD

ASX:GGG
Market: ASX
Market Cap: $201.15 m
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