Can anything shut down the Gold rally?
LONDON - GreenRoc Strategic Materials Plc (AIM:GROC) announced Friday that its Amitsoq Graphite Project in South Greenland and proposed downstream graphite active anode material plant have been designated as "Strategic Projects" under the EU Critical Raw Materials Act.
The designation, granted by the EU Commission on June 4, comes as the mining company advances its exploitation license application for the Amitsoq project, with hopes of securing approval before year-end. The pre-consultation phase of the application concluded on June 27, allowing the company to proceed toward final submission.
In January, GreenRoc received a Letter of Interest from the Export and Investment Fund of Denmark for potential funding of the Amitsoq project, which recently became the first minerals project in Greenland to receive ESG certification through Digbee.
The company has strengthened its position through industry engagements, participating in a UK Government trade mission to General Motors in November 2024 and presenting to finance institutions at the EU Raw Materials Summit in May.
GreenRoc signed a memorandum of understanding with Norwegian battery cell manufacturer Morrow Batteries ASA in December 2024 and has contracted HK Transport to extract a 15-20 ton bulk sample from Amitsoq’s underground workings.
The company also updated the resource estimate for its Thule Black Sands ilmenite project in May, reporting a Measured Resource of 1.1 million tons at 6.3% ilmenite in the South Area.
GreenRoc raised £1.185 million through equity placings in February and June 2025, with participation from institutional investors, existing shareholders, and company directors.
For the six months ended May 31, the company reported a loss of £432,000 with a cash position of £270,000 at period end.
This article is based on an interim results press release from GreenRoc Strategic Materials.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.