One of the worst performers on the Australian share market on Thursday has been the Greenland Minerals Ltd (ASX: GGG) share price.
The rare earths focused mineral exploration company’s shares crashed 45% to 8.8 cents before being placed into a trading halt this morning.
Why is the Greenland Minerals share price crashing lower?
As its name implies, Greenland Minerals is a Greenland-based mineral exploration company aiming to develop the Kvanefjeld rare earth project in south west of the country.
Management has previously said that Kvanefjeld has the potential to become the most significant western world producer of rare earths.
Unfortunately for the company, its aspirations were dealt a massive blow overnight when Greenland’s…