REG - GreenRoc Mining PLC - Appointment of Chief Executive Officer

GreenRoc Strategic MaterialsAnnouncement

01/06/2022 07:00

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RNS Number : 4803N  GreenRoc Mining PLC  01 June 2022

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

1 June 2022

GreenRoc Mining plc

("GreenRoc" or the "Company")

 

Board Update

Appointment of Chief Executive Officer

 

GreenRoc Mining plc (AIM: GROC), a company focused on the development of
critical mineral projects in Greenland, is delighted to announce the
appointment of Dr. Stefan Bernstein as Chief Executive Officer ('CEO') and
Director, with effect from 1 July 2022.

 

As a Danish geologist with over 30 years' experience in Greenland's mining
sector, Stefan Bernstein brings a very strong knowledge and understanding of
the country and its mineral wealth, with his experience spanning both
corporate and governmental advisory roles.

 

Stefan Bernstein joins GreenRoc from GEUS, the Danish and Greenlandic
Geological Survey responsible for supporting the sustainable exploitation of
raw materials in Greenland, where since 2016 he was the Head of the Mapping
and Mineral Resources Department.  In this capacity, he focused on developing
Greenland's known geology through integrated programmes in collaboration with
the Ministry of Mineral Resources in Greenland.

 

Before that, among other roles, he was Exploration Director, and latterly CEO,
of Avannaa Resources Ltd, a Greenland-focused mineral exploration company
which he co-founded in 2007 and which executed over 25 exploration programmes,
discovering the Karrat REE deposit and the Disko Bay diamond province in West
Greenland and securing two joint venture agreements with major mining
companies Anglo American and Boliden. He has earlier been involved in other
deposit discoveries in Greenland, including the Platinova palladium-gold Reef
in the Skaergaard Intrusion, stratabound PGE mineralisation at the Kap Edvard
Holm Complex, and the Citronen Fjord Pb-Zn deposit.

 

As CEO of GreenRoc, Stefan Bernstein will be responsible for advancing the
Company's strategic asset portfolio.  Notably, this includes the Amitsoq
Graphite Project in southern Greenland ('Amitsoq'), one of the highest-grade
graphite deposits in the world, and the Thule Black Sands Ilmenite Project in
north-west Greenland ('TBS'), both of which the Company is focused on
advancing to development status this year.

 

Following this appointment, Mr. Lars Brünner, who has assumed the role of
Interim CEO, will return to his role as a Non-Executive Director of the
Company with effect from 1 July 2022.

 

GreenRoc's Non-Executive Chairman, George Frangeskides, commented:

"I am delighted to welcome Stefan to the GreenRoc Board as our CEO.  With a
comprehensive understanding of the country's geological landscape, proven by
his many discovery successes, and his formidable knowledge of Greenland's
mining sector, he is ideally equipped to drive our company forward to the
attainment of our goal of achieving production from our flagship assets,
Amitsoq and TBS.

 

"Having attended the EIT Raw Materials Summit in Berlin this past week, it is
clearer than ever that Europe is taking very seriously the need to secure the
long-term supply to European industry of critical minerals such as graphite
and ilmenite, and to do so from suppliers in or close to Europe that are
subject to the highest standards of transparency, regulation and environmental
and social governance.  Greenland very much fits the bill in all those
aspects and, with Stefan at the helm, I look forward to deepening our
connections with these key international bodies as we move into the search for
suitable offtake partners for our assets."

 

Stefan Bernstein, GreenRoc's new CEO, commented:

"With a highly strategic portfolio of world-class assets in what I know to be
one of the most resource-rich and mining-friendly countries in the world,
GreenRoc's value is clear.  I am excited to join the team as we focus on
propelling our project portfolio towards development and further unlocking the
inherent value of our key assets, Amitsoq and TBS.

 

"At Amitsoq, activity will centre on the upcoming Phase 2 drilling campaign at
the Amitsoq Island deposit which will build on the maiden resource of 8.28
million tonnes (Mt) at 19.75% Cg.  We have great confidence in the potential
for achieving a significant upgrade in that resource given our recently
expanded Exploration Target of 5-15 Mt at a grade range of 18-22% Cg.
Meanwhile, the Environmental and Social Impact Assessment ('ESIA') work
programmes have commenced at TBS, the fulfilment of which is a fundamental
part of the mining licence application process.

 

"I join the Company at a very exciting point in its development and am keen to
get to work on making GreenRoc one of the next producers of critical
minerals."

 

The following information is disclosed about Dr. Stefan Bernstein, aged 59,
pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:

 

Current Directorships / Partnerships:

Advisory Board, James Furman Kemp Memorial Fund, Dept. Earth and Environmental
Sciences, Columbia University, USA.

Bernstein Geoconsult CVR 37766291 (DK)

 

Previous Directorships / Partnerships held in the past 5 years:

N/A

 

Dr. Bernstein does not currently hold any ordinary shares in the Company.
There are no other disclosures required in relation to Rule 17 or paragraph
(g) of Schedule 2 of the AIM Rules for Companies.

 

**ENDS**

 

For further information, please contact:

 GreenRoc Mining Plc                                                            +44 20 3950 0724

 Lars Brünner, Interim CEO

 Cairn Financial Advisers LLP (Nomad)                                           +44 20 7213 0880

 James Caithie / Sandy Jamieson / Louise O'Driscoll

 ETX Capital (Broker)                                                           +44 20 7392 1494

 Tom Curran / Thomas Smith

 St Brides Partners Ltd (Financial PR & IR) Susie Geliher / Oonagh Reidy /      +44 20 7236 1177
 Charlotte Page

About GreenRoc

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

Led by a group of highly experienced mining industry professionals with deep
experience in the Greenland mining sector, GreenRoc has a portfolio of 100%
owned projects:

·      Amitsoq Graphite, one of the highest-grade graphite deposits in
the world with a combined Indicated and Inferred JORC Resource of 8.28 million
tonnes (Mt) at an average grade of 19.75% giving a total graphite content of
1.63 Mt.

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

·      Melville Bay Iron, 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.

·      Inglefield Multi-Element, which has the potential to host a
range of mineralisation styles, including iron oxide-copper-gold.

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