EXIM Bank prepared to consider finance up to US$3.5m
- Could fund:
- PFS or DFS
- DFS of the Anode Process Plant
- Maximum 5-year repayment term
- Subject to DD from EXIM
- Valid until 14 April 2025
- EXIM Bank is the official credit agency of the US
- An independent Executive agency
Special initiative to increase US exports of goods
- Its Engineering Multiplier Programme can finance feasibility studies/design/ engineering & environmental services
Market Intelligence
- GreenRoc has a World Class Graphite resource at Amitsoq
- Well positioned to supply Europe and US
- Demand for battery grade graphite set for 4x growth
- This LoI will also assist GreenRoc secure further development finance
- PFS secheduled for 2024
"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."
Stefan Bernstein, CEO, GreenRoc Mining
Greenroc Mining (GROC)