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Greenland Mines Applies for License to More Than Double Sarfartoq Footprint

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Greenland Mines (GRML) has submitted an application to the Greenland government for a new license covering about 262 square kilometers east of its existing Sarfartoq license, MEL 2020-32, the company said Monday.

If granted, the new license would more than double the company's footprint in the Sarfartoq area to around 454 square kilometers, Greenland Mines said.

Sarfartoq is a carbonatite-hosted rare earth project enriched in neodymium and praseodymium, which are the principal rare earth elements used in high-performance permanent magnets, according to a statement.

The company's shares were up more than 150% after the opening bell on Monday.

Price: $7.22, Change: $+4.37, Percent Change: +153.33%

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Donald Trump Bans CNN, MS NOW From White House

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