GROC Greenroc Strategic Materials Plc

RNS REACH

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

29 February 2024

GreenRoc Mining plc 

("GreenRoc" or the "Company")

GreenRoc Presenting At PDAC 2024

GreenRoc Mining plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is pleased to announce that Chief Executive Officer Stefan Bernstein will be attending and presenting at the Prospectors & Developers Association of Canada (PDAC) Convention in Toronto next week.

During the convention, Dr Bernstein will be participating in the following events:

Monday 4 March 2024

11:15am at the Chelsea Hotel Toronto: 'Major Graphite Projects by Companies of MSP Partners', part of the MSP Graphite Supply Chain Deep-Dive Meeting hosted by the Ministry of Foreign Affairs of the Republic of Korea.

The Minerals Security Partnership (MSP) is a collaboration of 13 countries and the EU to catalyze public and private investment in responsible critical minerals supply chains globally.

13:45pm at the Metro Toronto Convention Centre: 'Bringing the World Class Amitsoq Graphite Project Back to Production' as part of Greenland Day, hosted by the Government of Greenland.

At both events Dr Bernstein will be explaining the strategic importance of GreenRoc's high quality Amitsoq graphite project in Greenland to the ongoing development of the electric vehicles battery sector.

Speakers and attendees at both events will include government officials, policy makers, financial institutions, advisers and experts and industry players from across the electric vehicle battery supply chain.

If you would like to meet with Dr Bernstein whilst at PDAC, please email greenroc@stbridespartners.co.uk

For further information, please contact: 

About GreenRoc

GreenRoc Mining plc is an AIM-quoted company which is developing mining projects in Greenland in critical, high-demand and high-value minerals.

Led by a group of highly experienced mining industry professionals, GreenRoc has a portfolio of 100% owned projects with defined Resources:

·    The Amitsoq Graphite Project, the Company's flagship project and 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

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

About Amitsoq

Amitsoq is located in the Nanortalik region of southern Greenland and has been confirmed as one of the highest-grade flake graphite projects in the world.  GreenRoc is focused on fast-tracking the development of Amitsoq into a producing mine in the shortest possible timeframe to meet critical demand from Electric Vehicle ('EV') manufacturers in Europe and North America for new, high grade and conflict-free sources of graphite.

Key points about Amitsoq:

·    GreenRoc holds the Amitsoq exclusive exploration licence MEL2013_06 of a total of 72.52km2 in the South of Greenland.

·    Amitsoq has a total inferred, indicated and measured JORC Resource of 23.05 million tonnes (Mt) at an average grade of 20.41% Graphitic Carbon ("C(g)"), giving a total graphite content of 4.71 Mt.

·    Results of the Preliminary Economic Assessment were released on 31 October 2023 stating a post-tax NPV8 of US$179M at an IRR of 26.7%. Capex estimated at US$131M including a 25% contingency.

·    Independent micronisation and spheronisation test work has proven that Amitsoq graphite can be easily upgraded to high-grade anode-quality graphite, otherwise known as high purity spherical graphite or cSPG, a key raw material in the manufacturing of EVs.

·    In GreenRoc's test work programmes, Amitsoq spheronised graphite has achieved higher than 99.95% purity with relatively little energy input and processing and using the milder alkaline purification method compared to the industry standard hydrofluoric acid, boding well for future production costs and sustainability commitments. 

·    Electrochemical testing of Amitsoq graphite anode material in a Li-battery cell shows that it performs very well, in part due to its good crystallinity.

·    Significant further upside exists at Amitsoq as the Amitsoq Island Deposit is open in at least two directions with potential for considerable further expansion via the similarly high-grade Kalaaq Mainland Deposit as well as a series of other high-grade targets on GreenRoc's licence package.

·    The deposit was in small-scale production about 100 years ago, and there remains considerable underground mine development in place from that time, which will be of considerable benefit to GreenRoc in the mine construction phase.

·    Following a detailed evaluation process, the European Raw Materials Alliance has expressed its support of GreenRoc and its Amitsoq graphite project, stating that "GreenRoc's graphite resource is of global importance and, together with the Company's strategy, will enable the European Union to achieve a certain level of independence for the electrical vehicle supply chain. ERMA has approved the Amitsoq Graphite project and will engage to support its development and financing to produce these critical raw materials for the benefit of the European Union goals." (see RNS dated 8 February 2023).

·    In October 2023, GreenRoc was awarded a grant of approximately £250,000 by the Automotive Transformation Fund in the UK to part-finance a feasibility study into the establishment of a graphite spheronisation processing plant to produce active anode material from graphite concentrate delivered from Amitsoq. This feasibility study is expected to be completed in H1 2024.