GreenRoc Strategic - Amitsoq Update

GreenRoc Strategic Materials

04/07/2025 07:00

RNS Number : 7050P

GreenRoc Strategic Materials Plc

04 July 2025

 

GreenRoc Strategic Materials Plc / EPIC: GROC / Market: AIM / Sector: Mining

 

4 July 2025

GreenRoc Strategic Materials Plc

("GreenRoc" or the "Company")

 

Amitsoq Update

 

 

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is pleased to announce details of the planned 2025 field programme for the Company's 100% owned Amitsoq Graphite Project in southern Greenland ("Amitsoq" or the "Project"). It also notes that the 35-day public consultation, which is part of the application process for an Exploitation Licence for Amitsoq, closed on 27 June 2025.

 

Details

 

Earlier this month, the Greenland Government approved the Company's plans for carrying out field work at Amitsoq during 2025. GreenRoc has now signed an agreement with HK Transport, a local contractor in Qaqortoq, South Greenland, to collect a 15-20t bulk sample of graphite ore from Amitsoq. The sample will be collected underground from the Lower Graphite Layer ore body in the historical mine workings. The work is anticipated to be completed by the end of September or early October 2025. The bulk sample will serve two main purposes: first, to obtain important information about rock mechanics and other ore characteristics to further develop the ore processing flow scheme; and second, to provide ore which can be processed into graphite concentrate for use in the Company's planned graphite anode materials pilot plant.

 

Other field work to be conducted this summer:

 

-    In July, a team of geologists will visit some key sites of known graphite mineralisation outside of the Amitsoq project area in order to collect a series of samples. The potential for other critical raw materials will also be investigated.

 

-    In August, the Company's ecological consultants, BioApp Aps, will continue the baseline studies which form an integral part of the Environmental Impact Assessment ("EIA") for the Project. This should mean that, at most, only a small supplementary collection of samples and analyses may be required in 2026 before the EIA can be concluded.

Finally, the 35-day public pre-consultation period, which is part of the Company's application for an Exploitation Licence, ended on 27 June 2025. A total of nine hearing replies have been received and translated to be available in both Greenlandic and Danish. The Company will now proceed to write up a White Book to present to the Greenland Government. For more information, please refer to the description of the process in the Company's RNS of 29 May 2025.

 

GreenRoc's CEO, Stefan Bernstein, commented:

"I'm happy to announce the summer's work programme at Amitsoq, which will provide us with both a lot of important data and a lot of graphite ore from Amitsoq. It is important to secure a substantial amount of ore from Amitsoq, as it will take time to process that into graphite concentrate and we want to have the material ready by the time we are ready with our planned pilot processing plant.

 

"It is also good to see the conclusion of the pre-consultation process, which is a core part of the application process for the Exploitation Licence for Amitsoq. We are eager to start writing up the White Paper and progress towards the final submission of the White Book and revised Project Description, and we remain hopeful the Exploitation Licence can be granted before the end of this year".

 

 

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market, financial and business conditions, competition for and availability of qualified staff and contractors, regulatory processes and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to finance, execute and implement future plans and programmes, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

*ENDS** 

 

 

For further information, please contact:

 

Investor questions on this announcement
We encourage all investors to share questions
on this announcement via our investor hub
https://greenrocplc.com/s/f795de
GreenRoc Strategic Materials Plc
Stefan Bernstein, CEO
info@greenrocplc.com
+44 20 3950 0724
Cairn Financial Advisers LLP (Nomad)
Sandy Jamieson / Louise O'Driscoll
+44 20 7213 0880
Oberon (Broker)
Nick Lovering/Adam Pollock
+44 20 3179 5300

 

 

 

About GreenRoc

GreenRoc Strategic Materials Plc is an AIM-quoted UK public company which is led by a group of highly experienced mining industry professionals. The Company is focused on fast-tracking the Amitsoq Graphite Project in Greenland into a producing mine to meet critical demand from Electric Vehicle ('EV') manufacturers in Europe and North America for new, high grade and conflict-free sources of graphite.  Amitsoq is one of the highest-grade graphite deposits in the world with a combined Measured, Indicated and Inferred JORC Resource of 23.05 million tonnes (Mt) at an average grade of 20.41% graphite, giving a total graphite content of 4.71 Mt, and significant further upside beyond this. Test work has proven that Amitsoq graphite can be readily upgraded to high-grade, anode-quality graphite, with higher than 99.95% purity and relatively little energy input, which bodes well for future production costs and sustainability commitments.

 

A Preliminary Economic Assessment released on 31 October 2023 gives a post-tax NPV8 for the Project of US$179M, an IRR of 26.7% and capex estimated at US$131M (including a 25% contingency).  These figures solely relate to the economics of a mining and primary processing operation in South Greenland and do not take into account any potential upside from the downstream processing operation which GreenRoc intends to establish. A Feasibility Study into the establishment of a graphite spheronisation processing plant (published in May and July 2024) shows a post-tax NPV8 for the project of US$621M, an IRR of 26.5% and capex estimated at US$340M (including a 25% contingency). 

 

The Company has signed a Letter of Intent to secure an area for the Company's future Active Anode Materials Plant in Southern Norway and has received expressions of support from the European Raw Materials Alliance and the US EXIM Bank for future development. In November 2024, GreenRoc and Morrow Batteries a/s, a Norwegian Gigafactory signed a MoU to work together on a regional supply chain of battery anode material and the Company received a Letter of Interest from the Export and Investment Bank of Denmark (EIFO) in January 2025.

 

GreenRoc's Amitsoq and Anode Materials Plant project was announced a Strategic Project under EU's Critical Raw Materials Act on June 4, 2025, and has an ESG certification via DigBeeTM.

 

GreenRoc also owns the Thule Black Sands Ilmenite Project ('TBS') in Greenland, which has an initial Mineral Resource of 19Mt at 43.6% Total Heavy Minerals with an in-situ ilmenite grade of 8.9%.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 
  END

 

 
STRPKNBQDBKBQOK