Greenland Mines Ltd. shares rose 206.49% to $8.74 on Monday, according to Benzinga Pro data, after the company more than doubled its control of the Sarfartoq rare earth magnet district in West Greenland. The newly added 262-square-kilometer area expands the project’s contiguous footprint to approximately 454 square kilometers, following geological work that indicated potential for additional rare earth resources east of the Sarfartoq deposit. The district-scale strategy is intended to accelerate development of ST1’s $2.05 billion high-case NPV (net present value) deposit while exploration advances across the wider rare earths region. The expansion comes after President Donald Trump announced a landmark U.S.-Denmark-Greenland Security Agreement highlighting Greenland’s growing strategic importance. Greenland Mines is an exploration and development company focused on mineral resources in Southeast Greenland, with the Skaergaard Project as its main asset. Skaergaard contains gold, palladium and platinum mineralization, and the company is using drilling and development work to evaluate and expand its resource base. It is also assessing vanadium and gallium as potential additional mineral resources. Expanding a contiguous land position can increase a miner’s option value (potential from future exploration targets) before new drilling results are published. The company’s other reported assets and a related market item were not connected to the Sarfartoq update.