As a follow up to our May 14, 2018 press release, Greenland Resources Inc. announce some of the results from the Concept Study conducted by several engineering firms that aimed to improve the Wardrop 2008 Malmbjerg project feasibility study . The Company believes that the results contained in the Concept Study are very encouraging and therefore is now conducting a Preliminary Economic Assessment with results expected to be released this year.
Scope of Concept Study
The study considered project development engineering and operations opportunities that could be utilized in the optimization of the 2008 FS that could result in significant reduced project CAPEX and OPEX costs. The study analysis included:
Review previous 2006 and 2008 technical, construction and operating CAPEX and OPEX costs parameters and determine in which operating areas improvements could be realistically expected
Perform multidisciplinary engineering reviews of mining, metallurgical process and associated infrastructure to reduce previously generated project CAPEX and OPEX costs
Prepare a conceptual level CAPEX and OPEX cost estimate and project economics
Compare Concept Study cost estimate to the 2008 FS cost result and define opportunities to achieve additional CAPEX and OPEX cost reductions for the PEA analysis