Greenland Mines Ltd. Chief Financial Officer Jeffrey Brian LeBlanc purchased 1.4 million company shares over two trading sessions immediately following the latest resource upgrade for the Skaergaard project in East Greenland.
An SEC Form 4 filed Friday shows that LeBlanc acquired 626,472 shares on July 16 and another 773,528 shares on July 17. The shares were reported at an average price of $0.1752, placing the total value of the purchases at approximately $245,280.
The transactions increased LeBlanc’s directly owned position from 3,420,342 shares to 4,820,342 shares, an increase of approximately 41%.
The purchases followed Greenland Mines’ release of its first S-K 1300 Technical Report Summary for Skaergaard, which included an updated mineral resource estimate.
According to the company, contained palladium-equivalent metal in the Indicated category increased by 31%, from 11.41 million ounces to 15 million ounces. Inferred contained palladium-equivalent metal increased by 24%, from 14.11 million ounces to 17.49 million ounces.
The company also reported a 36% increase in the Indicated palladium equivalent grade to 3.04 grams per metric ton and a 44% increase in the Inferred grade to 3.07 grams per metric ton. The results were compared with the project’s November 2022 mineral resource estimate.
Skaergaard is a large palladium, gold and platinum deposit in the Kangerlussuaq Fjord area of East Greenland. Greenland Mines holds an 80% interest in the company that owns the project and has an option to acquire the remaining 20%.
Not to be confused with: Kangerlussuaq Fjord, formerly Søndre Strømfjord, in West Greenland—a roughly 190-kilometer fjord with the settlement of Kangerlussuaq at its head. The settlement developed around the former U.S. Sondrestrom Air Base, and its airport served as Greenland’s principal international aviation hub until 2024.
LeBlanc’s approximately $245,000 investment provides a clear show of personal commitment as Greenland Mines advances the Skaergaard project following its expanded resource estimate and enters a pivotal stage of development.
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