TIDMGROC
RNS Number : 0838O
GreenRoc Mining PLC
29 September 2023
GreenRoc Mining Plc / EPIC: GROC / Market: AIM / Sector:
Mining
29 September 2023
GreenRoc Mining plc
("GreenRoc" or the "Company")
Amitsoq Update
GreenRoc Mining plc (AIM: GROC), a company focused on the
development of critical mineral projects in Greenland, is pleased
to provide the following update on its Amitsoq Graphite Project
("Amitsoq" or the "Project") in southern Greenland.
Overview
-- Preliminary Economic Assessment ('PEA') on Amitsoq
anticipated to be published in October 2023.
-- PEA will enable GreenRoc to firm up a work programme for the
coming year focused on fast-tracking the Project towards
development status.
-- Ongoing discussions with several potential off takers, with
the Company expecting to send new graphite concentrate samples to
interested parties in Q4 2023.
-- Joined the Danish Centre for Energy Storage ('DaCES') to
collaborate with Danish universities and companies in research,
innovation, and export.
-- The Company is participating in key industry and investor events.
Details
The Company is finalising the PEA on its Amitsoq Graphite
Project, which it anticipates will be published in October 2023.
The PEA, which is being prepared by SLR Consulting, a leading
UK-based mining consulting firm, will provide an economic model
intended to demonstrate the profitability of the mining of graphite
at Amitsoq and enable GreenRoc to firm up a work programme for the
coming year focused on advancing the Project towards development
status.
GreenRoc is progressing discussions with several potential
international off take parties, which have expressed interest in
receiving sample material from Amitsoq. The Company expects to
receive new graphite concentrate material in Q4 2023 from a bulk
sample which is being processed in Germany by UVR-FIA GmbH, which
will then be sent to interested parties.
GreenRoc has joined the Danish Centre for Energy Storage
('DaCES'), which is a unique platform within the energy storage and
conversion sector where Danish universities and companies work
closely together across the entire value chain from research and
innovation to industry and export. GreenRoc was pleased to
participate in the DaCES Annual Meeting on 14 September 2023 in
Copenhagen, where it met key players within the Danish energy
storage industry and research community.
Additionally, the Company is taking part in several other
events. On 2 October 2023, GreenRoc's CEO, Stefan Bernstein, will
present at a stakeholders' consultation meeting on 'EU - Greenland
Strategic Partnership on sustainable raw materials value chains',
being hosted online by The European Union and The Government of
Greenland. He will also be participating in a focusIR/London South
East Natural Resources live webinar on 3 October 2023 between 6pm
and 8pm. To watch the event, please register at
https://bit.ly/3EWu6hH .
GreenRoc's CEO, Stefan Bernstein, commented:
"We look forward to publishing the PEA in October, only slightly
behind our originally planned schedule. The PEA will provide a
detailed assessment of the technical aspects and costs associated
with the construction and operation of our Amitsoq mine and
processing plants and enable us to plan the next steps.
"We are also delighted with the growing interest in our product
from potential international off takers, driven by their
recognition of the importance of securing a future pipeline of
non-Chinese graphite in a global market which is being driven by
phenomenal growth in demand from the EV battery sector.
"I look forward to speaking to investors on 3 October 2023, when
I participate in the focusIR/London South East Natural Resources
live webinar."
**ENDS**
For further information, please contact:
GreenRoc Mining plc
Stefan Bernstein, CEO +44 20 3950 0724
Cairn Financial Advisers LLP (Nomad)
James Caithie / Sandy Jamieson / Louise O'Driscoll +44 20 7213 0880
--------------------------------
SP Angel (Broker)
Ewan Leggat / Charlie Bouverat +44 20 3470 0500
--------------------------------
St Brides Partners Ltd (Financial PR & IR) +44 20 7236 1177
Paul Dulieu / Isabel De Salis / Isabelle Morris greenroc@stbridespartners.co.uk
--------------------------------
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 all
of which have defined Resources:
-- Amitsoq Graphite Project , 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;
-- 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%; and
-- Melville Bay Iron Project , which has a Mineral Resource
Estimate of 67Mt at 31.4% iron and has been proven to be
processable to a high-grade, 70% concentrate with low
impurities.
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