GreenRoc Strategic Minerals PLC has announced that it has entered into a non-binding agreement with a supplier of active anode materials.
The London-based mining developer, which focuses its activities in Greenland, did not reveal the name of the company with which the agreement was made, but described it as “a leading global industrial group specializing in natural graphite-based anode materials” that supplies original equipment manufacturers (OEMs) and battery cell manufacturers.
GreenRoc’s shares rose 11% to 4.72 pence on Friday morning in London.
This technology licensing agreement will allow GreenRoc to access the coating technology of the said company, enabling it to process its purified spherical graphite (SPG) products from the Amitsoq deposit. Coating is the final step in the production of active anode materials.
GreenRoc stated that discussions with the partner have been ongoing since 2023. The company sees this agreement as “a clear roadmap towards negotiating binding agreements for the technology license grant.”
It plans to finalize “a binding work commissioning agreement” under which the Amitsoq SPG will be coated and tested in battery conditions by the partner. These operations will take place in the partner’s facilities and “provide data that GreenRoc can then use to refine its products and attract potential buyers,” according to GreenRoc.
The agreement also defines the payment terms for a binding technology license contract at the end of the testing phase, “which will grant GreenRoc long-term access to this global producer’s advanced coating technology,” GreenRoc added.
Additionally, GreenRoc announced on Friday that it has unlocked the second tranche of a loan totaling 1.1 million euros from the Danish Export and Investment Fund. After this drawdown, there is approximately 3.3 million euros remaining on the loan, which, according to GreenRoc, should cover its work program for 2026, including the third drilling phase and graphite sample processing at its pilot plant in Denmark.
GreenRoc aims to launch a feasibility study for the Amitsoq mine by the end of the year. The company emphasized that the loan “is non-repayable or convertible for five years from the first drawdown, which is in December 2030.”
By Holly Munks, journalist at Alliance News
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