TIDMGROC
GreenRoc Mining PLC
15 May 2023
GreenRoc Mining Plc / EPIC: GROC / Market: AIM / Sector:
Mining
15 May 2023
GreenRoc Mining plc
("GreenRoc" or the "Company")
Amitsoq Update
Virtual Presentation and Q&A
GreenRoc Mining plc (AIM: GROC), a company focused on the
development of critical mineral projects in Greenland, is pleased
to announce that it has awarded the contract to undertake a formal
Preliminary Economic Assessment ("PEA") for its Amitsoq Graphite
Project to SLR Consulting Limited ("SLR"), a long-established UK
consultancy with considerable expertise in the field of mining and
mineral processing, including in Greenland. SLR will commence work
on the PEA in May 2023 and it is expected to be completed by
September 2023. The completion of a PEA is an important step in the
development of the Amitsoq Project towards commercial
production.
GreenRoc also today announces that it has established a wholly
owned Greenlandic registered subsidiary, Greenland Graphite a/s, to
which the two graphite mineral exploration licences (2013-06 and
2022-03) currently owned by GreenRoc's subsidiary Obsidian Mining
Ltd will be transferred, pending approval by the Greenland
Government. Under Greenland's mining regulations, mining companies
seeking to move to the exploitation phase of a project must be
incorporated in Greenland and Greenland Graphite a/s has therefore
been established for this purpose.
O n 25th of May 2023 at 12:00pm GMT Stefan Bernstein, CEO of
GreenRoc, will provide an update on the Company's recent progress
in relation to the Amitsoq Project via the Investor Meet Company
platform, as well as answering questions submitted by attendees.
During the live presentation, he will provide more detail on the
commencement of the PEA, the processing of a graphite ore bulk
sample by UVR-FIA in Germany and his views on the EU's efforts to
meet its own raw material demands by reviving extractive industries
in Europe.
This investor presentation is open to all existing and potential
shareholders. Questions can be submitted up until 9am on the day
before the event via the Investor Meet Company Dashboard, and at
any time during it.
Investors can sign up to Investor Meet Company for free via this
link. Investors who already follow GreenRoc Mining plc on the
Investor Meet Company platform will be automatically invited.
GreenRoc's CEO, Stefan Bernstein, commented:
"The Preliminary Economic Assessment Study or PEA is the first
of a series of studies which will provide a detailed assessment of
the technical aspects and costs associated with the construction
and operation of our Amitsoq mine and processing plants. SLR, who
we have appointed to carry out the PEA, is a leading UK-based
mining consulting firm with a great deal of relevant experience and
expertise. The undertaking of this important piece of work
represents the next major step forward for the Amitsoq Project.
Upon its completion, the PEA will provide an economic model to
demonstrate the profitability of the mining of graphite at Amitsoq.
We look forward to sharing its results with shareholders in due
course.
"Establishing our Greenlandic registered subsidiary, Greenland
Graphite a/s, also represents another milestone for the Company. As
well as satisfying Greenlandic mining regulations which requires
the formation of a Greenlandic company prior to the commencement of
any mining operations, Greenland Graphite a/s will also enable the
Company to access more easily EU funding programmes in the field of
critical raw materials, something the Company is currently actively
exploring.
"I very much look forward to providing investors with a more
detailed update and answering their questions on 25 May 2023 at
12pm via the Investor Meet Company platform."
**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)
Susie Geliher / Paul Dulieu / Isabelle Morris +44 20 7236 1177
----------------
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.
About SLR
SLR is a UK-based consultancy firm, advising companies with
their project life-cycle from strategy and design, through
compliance and operations, to end-of-life and remediation.
Established in 1994, SLR now has offices in 13 countries and
offers technical advice on a broad range of topics, including
infrastructure, energy, manufacturing, power, and mining.
SLR has considerable expertise within the field of mining and
mineral processing and has previously advised companies in
Greenland, Scandinavia and Arctic Canada.
For further information, please visit
https://www.slrconsulting.com/
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