2023 Milestones

- At the beginning of 2023 GreenRoc Mining (AIM:GROC) released a Resource Update on the graphite available at Amitsoq, the world class South Greenland graphite deposit they are developing

- GROC proved in early 2023 that its anode graphite material is suitable for the electric car industry – not all graphite qualifies

- In late October ,GROC released its Preliminary Economic Assessment (“PEA”) for Amitsoq:

Both technically and economically feasible to reopen the old Amitsoq graphite mine with modern extraction methods.

Robust PEA economics:

- Initial Capex of US$131m (inclusive of 25% contingency)

- Pre-Tax NPV of US$235m with IRR of 31.1%

- After-Tax NPV of US$179m with IRR of 26.7%

Stefan was also pleased to highlight that locals in the nearby town of Nanortalik are enthusiastic about the 100-year-old Amitsoq mine being reopened as the environmental footprint is minimal –80% of tailings produced are intended to be deposited back into the mine – and GROC intends to reuse old mine facilities at Amitsoq and old port facilities at Nanortalik.

In addition to the PEA, GROC outlined its plans for a vertically integrated anode graphite pilot processing plant with:

- £260,000 grant

- Certification process ongoing

- Pilot processing plant to be constructed

- Offtake agreements to be agreed

Due to report in May 2024

2024 Newsflow

- GROC expects to file for an “exploitation license” for Amitsoq soon

- Conduct an Environmental & Social Impact Assessment

- Collect & Publish additional Geotechnical data

- Commence Pre-Feasibility Study for Amitsoq

- Continue to send graphite concentrate to potential offtake partners

Reasons to add GROC to your Watchlist:

- The world needs graphite

- EV market set for exponential growth

- Critical battery materials set for four-fold increase in demand over the next decade

- GreenRoc has a World Class Graphite resource

- Well positioned in Greenland to supply both Europe and the US

- Positive PEA enables GreenRoc to develop its work programme for 2024 and beyond

- Ongoing discussions with several potential off takers

Stefan Bernstein was interviewed by focusIR, the digital IR arm of London South East.