GreenRoc's Danish subsidiary inks deal with European Investment Bank

(Sharecast News) - GreenRoc Strategic Materials said on Wednesday that its Danish subsidiary had signed an advisory services agreement with the European Investment Bank to support financing readiness for its Amitsoq graphite mine and planned active anode material processing project. The AIM-traded Greenland-focused critical minerals developer said the EIB would provide independent advisory support at no cost, covering market analysis, technical and economic review, business plan assessment, financial modelling and fundraising strategy.

GreenRoc also said Greenland's government had approved its Phase III drilling programme at Amitsoq, which is expected to start at the end of June.

The company said its active anode material pilot plant had processed about 700kg of 95% graphite concentrate into spherical graphite across seven test runs, while new laboratory equipment had been commissioned to speed up product quality assessment.

Chief executive Stefan Bernstein said the EIB agreement, drilling approval, bulk sample test work and pilot plant progress were "important practical steps in de-risking the project and strengthening our technical foundation".

At 1419 BST, shares in GreenRoc Strategic Minerals were down 1.5% at 2.96p.

Reporting by Josh White for Sharecast.com.

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