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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.
No stock. I noticed that 775k go through and thought is that a sell order worked. At the time all they would give me was 150k at 1.82p so I took it then 100k at 1.88p and after that the limits crashed.
Maximising value for shareholders - short podcast today
https://x.com/GreenRocMining/status/1780129246737744260
This has flown under the radar up till now. Mcap of only around £3m with potential assets into the £billions, and the US and Europe gagging to secure non-Chinese strategic mineral supplies. A no brainer...
That's a pretty extraordinary RNS from Bluejay with obvious positive implications for GROC's TBS resource.
It seems that Bluejay want to reverse their decision to shelve the Dundas project as the last drill campaign wasn't conducted properly and threw up erroneous results. This ought to add a little value back to Greenroc's ilmenite asset and also allows us to learn somewhat from Bluejay's drilling campaign mistakes.
Bluejay Mining
Dundas Ilmenite Project Update
https://www.lse.co.uk/rns/JAY/dundas-ilmenite-resource-update-yj6rmx9v933ktkc.html
I have been reflecting on the information provide by GROC over the last 18 months and relative to some other AIM companies, I believe they have done a good job. They are working through the stages of the project and the assessments that are required, and providing updates and information about the approximate delivery dates. Details about the licence extension showing the areas of high grade mineralisation have also been provided.
Until today's RNS, I was concerned about dilution, but the LOI shows that work is going on behind the scenes. They also secured a grant from the Advanced Propulsion Centre, which suggests to me that they are endeavouring to progress matters as efficiently as possible.
The SP clearly has the potential to be significantly higher, but positive news is key. Let's hope the company continue with the level of communication. The next big steps for me will be securing additional funding and the completion of the PFS.
A nice show of support and interest from the US though I had expected the Europeans to be at the front of the queue. No matter, let the early bird catch the worm. ;-)
A pleasant surprise RNS . If it reduces the need for the customary multiple raises at discounted prices then that a most welcome change from the AIM modus operandi. I can't help thinking the large chunk owned by Alba will drive more sensible financing decision as they won't want to dilute that holding. Encouraging
When you look at the share price performance over the past two years then read today's RNS it would appear to be time to top up, and average down, in the hope of making a penny a little earlier
Just topped up
All ticking along nicely.
Positive news today, seems GROC is on the US map, to secure early funding from that source is extremely bullish.
Congratulations, SB and Greenroc!
GreenRoc's CEO, Stefan Bernstein, commented:
"This LOI from US EXIM Bank represents a strong show of support for our Amitsoq project from one of the key financing bodies of the US Government involved in the roll-out of loans and other funding support under the US Inflation Reduction Act to entities, like Greenroc, which are developing projects which will deliver critical raw materials to Western economies. A successful application for up to US$3.5m of funding would allow us to undertake extensive and costly parts of our work programme over the coming couple of years and to achieve important milestones such as the PFS and DFS and the processing of large bulk samples of graphite ore, all of which are critical paths to production. As such, we expect to proceed with an application to US EXIM Bank in the near future.
"With the US Inflation Reduction Act's rules of origin in relation to graphite set to be implemented in the near future, we expect to see increased interest from US industries in securing friendly sources of graphite, and so this LOI from US EXIM Bank is timely."
They raised in late November to get the funds to complete the DFS and the enviromental impact study. They were oversubscribed and pulled in an additional amout. The cash burn is low so I myself would expect any future funding to be post the DFS ( and a reset share price ) . Hopefully with some offtake deal news and then good things will happen . Again thats logic this is aim ;)
New broker, new raise inbound imo.