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The acquisition of new exploration licences in Greenland
In late July 2013, based on our documentation and the applications processed on behalf of our client, the CGRG a.s. Company, the Greenland authorities officially awarded four new exploration licences to our client. These exploration areas are located in the highly prospective regions of East and of West Greenland with identified or anticipated deposits of rare earths and related raw materials (Ti, Zr and U ores). Based on the terms for the granting of these licences, the interpretation of the geochemical and the geophysical data, that will be one basis for the preparation of the programme of field exploration work in the coming years, has been finalised.