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GF presents Alba's option on 2 adjoining license areas in Western Australia, to explore for lithium, as very much complementary to its investment in GROC.
Big buy out deal announced shows what can happen when US wants resources
I added 200k via 2 lots of 50k and 100k at 2.32p
Does anyone have any idea how long the DD and receipt of the loan, if approved, could take?
Yes the additional testing was mentioned in January 2023 and was supposed to last 6-8 weeks. Then the August RNS said results by autumn 2023, but nothing mentioned since then. I guess it's more important to keep Amitsoq moving along, so I'm happy to leave other projects on the back burner for now.
Jeremiah99,
No, not yet.
Work was expanded to take a 2nd look at the results of the earlier samples.
did we ever get the results back from the additional testing of the 2022 tbs drill results?
from the august 2023 interim results -
"test work to determine the ilmenite content of the co****r grain fraction within drill core samples from thule black sands ("tbs"), greenroc's ilmenite mineral sands project in north greenland, is near completion and is expected to be reported this autumn."
At the bottom of its RNS of this morning, JAY presents its Dundas asset as follows:
Bluejay's most advanced project is the Dundas Ilmenite Project in Greenland, which is fully permitted and in the process of reinstating its 2019 MRE which, reported in accordance with the JORC Code, represents 117Mt at 6.1% ilmenite and a maiden offshore Exploration Target of between 300Mt and 530Mt of ilmenite at an average expected grade range of 0.4 - 4.8% ilmenite in-situ. The Company has agreed a Master Distribution Agreement with a major Asian conglomerate for up-to 340ktpa of its anticipated 440ktpa annual output. The Company has signed on a major European bank to head the financing syndicate for Dundas.
Fully agree. Onwards and upwards.
That was mine and it was a BUY!
It seems to be a trait of market makers to cut prices at a flash to deter interest yet when buyers come they cut online buying in the same fashion, the point is you have to buy stocks like this when it is quiet, it looks very likely that GROC will receive the $3.5m (more than the current m/cap) from the US bank but what it also does suggest is the company could so easily be acquired.
The Letter of Interest also means equity dilution is unlikely now, good news indeed.
At current levels the shares are dirt cheap therefore, the issue is getting a reasonable slice of stock.
You know they are taking the mick when it drops 8-9% on just 220k traded. I'm watching patiently to buy more and know when I hit them they will run for cover. It will probably take less than 300k to have them NT to buy again
Https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=groc.L
Thanks. Destination = Wellintodoublefiguresville :-)
J 99
It’s good to see the SP moving in the right direction, enjoy the journey.
Yes developing a mineral resource is usually a snails pace undertaking. At least we have normally glacial bureaucracy on our side helping instead of hindering. All being well I'd hope the s/p to rerate incrementally as each stage of development is reached. IMO what should be obvious is that we are currently undervalued at these present levels.
Hello J99
Like you I feel the company has great potential but it will be at least 3-4 years away from production. I’ve been watching Groc now for a year or two and like many had my fingers burnt at 5p plus. I admire your enthusiasm but Groc has many hurdles yet. It will get serious after the DFS has been published
GLA
A reminder of 9th October 2023 RNS -
"GreenRoc Awarded Grant from UK Automotive Transformation Fund
GreenRoc Mining plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is delighted to announce that it has been awarded a grant of approximately £250,000 by the Automotive Transformation Fund ("ATF") in the UK under its recently closed Feasibility Study Competition. The grant will part-finance a feasibility study into the establishment of a graphite spheronisation processing plant in the UK to produce active anode material from graphite concentrate delivered from GreenRoc's Amitsoq Graphite Project in southern Greenland ("Amitsoq" or the "Project")"
Support from many sides to get this graphite into vehicles ASAP.
"- This LoI will also assist GreenRoc secure further development finance" (from the RNS video).
Enterprising of US EXIM Bank.
Repayable over a maximum 5-year term, so provides a significant boost to the financial credibility of Amitsoq from a prestigious source.
Has this initiative "launched" the longer-term financing of Amitsoq?
Hardly any stock available at offer price currently, the shares were trading around 5p in November last year, yesterdays news was very positive and unexpected, a possible $3.5m from a US Bank, that will prick the ears of other financiers and has put GROC on the US map.
All this for a £3m m/cap company.
Share price should continue to recover therefore, for chartists there is a gap to 3.2p that needs filling.
Jeremiah99.
Yep your 1.75p buy and others cleared the seller. The fact there was only 150k max when I bought made me buy, had it been 500k I would have probably left it. Been here before with Groc and their overhangs can drag so it's good there does not seem to be one and also good the news should mean no placings or we hope that.
Could do, saigonsally, it's a good gain on the day but not really huge, in my eyes, especially given the very low share price at the present time.
But it's possible there are other factors at play as well, of course.
Ocelot, yes, an extraordinary RNS from Bluejay. But does that alone account for the huge leap in price of GROC this afternoon?
Mine was the 160k at 1.75p at 13:25. I hope it was great timing.