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LONDON - GreenRoc Strategic Materials Plc has secured a €5.2 million loan facility from the Export and Investment Fund of Denmark (EIFO), according to a statement released Wednesday by Alba Mineral Resources plc (AIM:ALBA).
The binding secured loan will finance GreenRoc’s work programs at its Amitsoq Graphite Mine in south Greenland and support the establishment of a European pilot plant for producing active anode material from Amitsoq graphite.
Alba Mineral Resources, which holds a 25.78% stake in GreenRoc, described the financing agreement as "the most important milestone for GreenRoc since its IPO in late 2021" in the press release.
The loan is expected to advance development at both the Amitsoq Mine and GreenRoc’s downstream graphite processing capabilities, potentially enhancing value for shareholders.
GreenRoc Strategic Materials Plc is focused on critical raw materials development, with graphite being a key component in battery production for electric vehicles and energy storage systems.
The full terms and conditions of the loan facility were not detailed in Alba’s announcement but were noted to be available through GreenRoc’s regulatory news section.
Alba Mineral Resources is a gold and critical raw materials focused exploration and development company with various projects in Wales and Sweden, along with investments in Greenland and England.
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