GreenRoc shares rise as enters license deal for coating technology

(Alliance News) - GreenRoc Strategic Minerals PLC on Friday said it had entered a non-binding accord with an active anode material supplier.

The London-based mineral developer focused on Greenland did not name the company with whom it had made the agreement, but described it as "a leading global industry group with a specialism in natural graphite-based anode materials" which supplies automotive original equipment manufacturers and battery cell makers.

GreenRoc shares rose 11% to 4.72 pence on Friday morning in London.

The technology licence agreement will give GreenRoc access to the unnamed company's coating technology, allowing it to coat Amitsoq spheronised purified graphite products. Coating is the final stage in the production of active anode material.

Discussions with the partner company in question have been ongoing since 2023, GreenRoc noted. It sees the accord as "a clear roadmap to the negotiation of binding agreements for the licensing of the technology."

It plans to settle "a binding work consignment agreement" which will see Greenroc's Amitsoq SPG coated and tested by the partner company in battery conditions. This will take place at the partner's facilities and will "provide data which Greenroc can then utilise in refining its products and approaching offtakers," GreenRoc said.

The accord also lays out payment terms for a binding technology licence agreement following the testing phase, "which will provide GreenRoc with long-term access to the global producer's market-leading coating technology", GreenRoc added.

Also on Friday, GreenRoc said it had drawn down the second tranche of a loan amounting to EUR1.1 million from the Export & Investment Fund of Denmark. Post-drawdown, around EUR3.3 million of the loan remains, which GreenRoc expects to cover its 2026 work programme, including phase-three drilling and graphite sample processing at its pilot plant in Denmark.

GreenRoc aims to begin a pre-feasibility study of the Amitsoq mine by the end of the year. It noted that the loan "is not repayable or convertible until five years from first drawdown, which is December 2030".

By Holly Munks, Alliance News reporter

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