Doug Ware CEO, of Worthington Group plc, commented today on Worthingtons agreement to acquire up to 41% of GREP. Whilst this is an investment in the exploration phase of this project, it borders areas of proven reserves in the Motzfelt field. If the reserves are proven, then we are looking at what could amount to enormous potential returns given the rising demand. Earlier this month, GREP announced that it had signed an Option Agreement (Agreement) with NunaMinerals A/S (COPENHAGEN: NUNA.CO / NUNA.DC) who are Greenlands leading company in the exploration of precious, base and strategic metals. NunaMinerals began operations in 1999 and is headquartered in Nuuk, Greenland. The company is listed at NASDAQ OMX Copenhagen A/S under the symbol NUNA (Copenhagen: NUNA.CO). The Agreement has the objective to advance the development of NunaMinerals Paatusoq Critical Metals Project which is located within NunaMinerals 370 km(2) Hugin exploration licence in South East Greenland, where the company is also actively prospecting for gold. Under the terms of the Agreement ,Critical Metals are specified as the REEs, niobium, tantalum, zirconium, uranium and thorium.
Posted on: Mon, 01 Sep 2014 08:40:45 +0000
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