REG - GreenRoc Strategic - Amitsoq Update

GreenRoc Strategic MaterialsAnnouncement

Tue 07:00

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RNS Number : 8840S  GreenRoc Strategic Materials Plc  29 July 2025

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

 

29 July 2025

GreenRoc Strategic Materials Plc

("GreenRoc" or the "Company")

 

Amitsoq update

 

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the
development of critical mineral projects in Greenland, is pleased to provide
this update on its work in relation to the Amitsoq Graphite Mine in south
Greenland ("Amitsoq" or the "Mine"), including that it expects to commence a
bulk sampling programme at the Mine in August.

 

Highlights

 

-    Bulk sampling programme scheduled to commence at Amitsoq in the week
commencing 18 August 2025.

-    Environmental baseline studies at Amitsoq commenced on 28 July 2025.

-    Successful tests conducted on the use of Amitsoq graphite concentrate
as feedstock for the production of flexible graphite.

-    GreenRoc management has been invited to a series of meetings with EU
representatives to explore support options for the Amitsoq Project following
the recognition of both the Mine and the downstream active anode material
("AAM") plant as Strategic Projects for the EU, as announced by the Company on
4 June 2025.

 

Details

 

Field Programme

 

By mid-August 2025, GreenRoc's South Greenland contractor, HK Transport ApS,
is scheduled to start on-site preparations for the collection of a 15-20t bulk
sample of graphite ore from the existing underground mine development at
Amitsoq. The purpose of the sampling is to provide sufficient feedstock for
the production of graphite concentrate material for the Company's planned AAM
pilot plant. The bulk sample will further serve to provide important
processing data for the preparation of the coming pre-feasibility study or PFS
for Amitsoq. The collection of the bulk sample is anticipated to be concluded
by mid-September 2025. Earlier this month, GreenRoc's CEO Stefan Bernstein and
a consulting geologist visited the Amitsoq mine and marked out the target
areas for the forthcoming underground bulk sampling.

 

GreenRoc's field team also visited some other areas of known graphite
mineralisation east of Nanortalik, all lying within the Company's exclusive
mineral exploration licences. Field inspection confirmed the significant
lateral extent of the graphite mineralisation, with what appeared to be very
high graphite grades. Samples were also collected to assess the potential for
critical raw material mineralisation other than graphite.

 

The Company's environmental consultant BioApp ApS has commenced this summer's
baseline studies which should be completed in early August.  These are
expected to be the final baseline studies required prior to the drafting of
the environmental impact assessment (EIA) for the Mine.

 

Flexible graphite

 

In addition to being used to produce graphite active anode material for use in
battery energy storage, natural flake graphite is also used for the production
of flexible graphite. Flexible graphite, also known as expandable graphite,
consists of relatively coarse graphite flakes which are chemically treated and
then used in sealing and gasketing applications due to their resilience and
ability to dissipate energy during vibration. Flexible graphite also shows
high resistance against chemical agents and can retain its structural
integrity at temperatures up to 2500°C in inert atmosphere.

 

Flexible graphite appeared on NATO's list of critical raw materials for
defence systems published in December 2024 and is one of only two raw
materials in NATO's indispensable 'Very High Risk' category as it is wholly
imported from China.

 

Through the Company's advisory consultant ProGraphite GmbH, test work on a
+180µm fraction of Amitsoq graphite concentrate was treated with a standard
chemical recipe and successfully yielded expandable graphite with an expansion
rate of 160g/l.

 

EU Strategic Project

 

GreenRoc has been approached by EU officials to understand how the EU best can
support the Amitsoq Graphite Mine and AAM Plant and help to progress these
towards production within the shortest timeframes.  Meetings have been held
in this regard and further meetings are expected in the near term.

 

GreenRoc's CEO, Stefan Bernstein, commented:

"Our field programme in 2025 will advance on several fronts with the
environmental baseline studies now ongoing and the bulk sampling commencing in
a few weeks' time. The bulk sampling is of particular interest, as it will
provide crucial data for the forthcoming Pre-Feasibility Study and feed-stock
material for GreenRoc's planned anode materials pilot plant.

 

"I am fascinated by the potential of Amitsoq graphite in applications beyond
battery anodes. The successful use of Amitsoq concentrate to produce flexible
graphite, a material whose supply is deemed at 'very high risk' by NATO,
highlights further our Project's strategic importance. The ongoing engagement
with EU officials regarding support for the Amitsoq mine and AAM project
reinforces the important role they can play in securing a sustainable global
supply chain for critical raw materials".

 

 

*ENDS** 

 

For further information, please contact:

 

 Investor questions on this announcement         https://greenrocplc.com/link/eW3a6e (https://greenrocplc.com/link/eW3a6e)

 We encourage all investors to share questions

 on this announcement via our investor hub
 GreenRoc Strategic Materials plc                info@greenrocplc.com (mailto:info@greenrocplc.com)

 Stefan Bernstein, CEO                           +44 20 3950 0724

 Cairn Financial Advisers LLP (Nomad)

 Sandy Jamieson / Louise O'Driscoll              +44 20 7213 0880

 Oberon (Broker)                                 +44 20 3179 5300

 Nick Lovering/Adam Pollock

 

 

 

About GreenRoc

GreenRoc Strategic Materials Plc is an AIM-quoted UK public company which is
led by a group of highly experienced mining industry professionals. The
Company is focused on fast-tracking the Amitsoq Graphite Project in Greenland
into a producing mine to meet critical demand from Electric Vehicle ('EV')
manufacturers in Europe and North America for new, high grade and
conflict-free sources of graphite.  Amitsoq is 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, and significant
further upside beyond this. Test work has proven that Amitsoq graphite can be
readily upgraded to high-grade, anode-quality graphite, with higher than
99.95% purity and relatively little energy input, which bodes well for future
production costs and sustainability commitments.

 

A Preliminary Economic Assessment released on 31 October 2023 gives a post-tax
NPV8 for the Project of US$179M, an IRR of 26.7% and capex estimated at
US$131M (including a 25% contingency).  These figures solely relate to the
economics of a mining and primary processing operation in South Greenland and
do not take into account any potential upside from the downstream processing
operation which GreenRoc intends to establish. A Feasibility Study into the
establishment of a graphite spheronisation processing plant (published in May
and July 2024) shows a post-tax NPV8 for the project of US$621M, an IRR of
26.5% and capex estimated at US$340M (including a 25% contingency).

 

The Company has signed a Letter of Intent to secure an area for the Company's
future Active Anode Materials Plant in Southern Norway and has received
expressions of support from the European Raw Materials Alliance and the US
EXIM Bank for future development. In November 2024, GreenRoc and Morrow
Batteries a/s, a Norwegian Gigafactory signed a MoU to work together on a
regional supply chain of battery anode material and the Company received a
Letter of Interest from the Export and Investment Bank of Denmark (EIFO) in
January 2025.

 

GreenRoc's Amitsoq and Anode Materials Plant project was announced a Strategic
Project under EU's Critical Raw Materials Act on June 4, 2025, and has an ESG
certification via DigBee(TM) since March 2025.

 

GreenRoc also owns the Thule Black Sands Ilmenite Project ('TBS') in
Greenland, which has an initial Mineral Resource of 19Mt at 43.6% Total Heavy
Minerals with an in-situ ilmenite grade of 8.9%.

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