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Greenland Resources to Present at BMO Global Metals, Mining & Critical Minerals Conference
TORONTO / Feb 07, 2023 / Business Wire / Greenland Resources Inc. (NEO: MOLY, FSE:M0LY) (“Greenland Resources” or the “Company”) is pleased to announce that it
About this update from Greenland Resources Inc.
[{"type":"text","content":"TORONTO / Feb 07, 2023 / Business Wire / Greenland Resources Inc. (NEO: MOLY, FSE:M0LY) (“Greenland Resources” or the “Company”) is pleased to announce that it will present its Malmbjerg molybdenum project on March 1, 2023 at 12.30 pm EST at the BMO Capital Markets' 32nd Global Metals, Mining & Critical Minerals Conference in Hollywood, Florida. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230207005897/en/ The Company also wishes to note that molybdenum prices have been trading around US$40 per pound, making historical highs. The economics stated in the Company’s NI 43-101 Feasibility Study completed by Tetra Tech in 2022 (“FS”) were done using an US$18 per pound of molybdenum. The FS state that over the life of mine period, the average cash cost to produce a pound of molybdenum is US$6.38/lb. About Greenland Resources Inc. Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned world-class Climax type pure molybdenum deposit located in central east Greenland. The Malmbjerg molybdenum project is an open pit operation with an environmentally friendly mine design focused on reduced water usage, low aquatic disturbance and low footprint due to modularized infrastructure. The Malmbjerg project benefits from a NI 43-101 Definitive Feasibility Study completed by Tetra Tech in 2022, with Proven and Probable Reserves of 245 million tonnes at 0.176% MoS2, for 571 million pounds of contained molybdenum metal. As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years one to ten is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS2. The project had a previous exploitation license granted in 2009. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our web site (www.greenlandresources.ca) and our Canadian regulatory filings on Greenland Resources’ profile at www.sedar.com. The Project is supported by the European Raw Materials Alliance (ERMA) as stated in their press release EIT/ERMA_June 13, 2022 Press Release, a Knowledge and Innovation Communi...