Member Info for Mullins58

Deep , only 321m shares in issue , which is nothing for an AIM listed share. ATB

Work has now started to complete the well and install temporary surface production equipment. PetroChina has provided us with a suitable second-hand beam pump and our construction contractor has mobilised to site. We expect to be ready to start pumping operations by month's end to recover the remainder of the injected fluids and then determine the flowing reservoir fluid and the well's productive capacity. Should a commercial oil rate be achieved the temporary facilities can continue to operate whilst a permanent storage tank is installed. PetroChina has identified a second-hand tank that we can use if required.

Very Positive.

EU Commissioner Dan Jørgensen to visit Amitsoq

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is pleased to announce that the European Union ("EU") Commissioner for Energy, Dan Jørgensen, will be visiting GreenRoc's Amitsoq graphite deposit and planned mine site this week.

During the visit, Commissioner Jørgensen will be joined by Malene Vahl Rasmussen, Mayor of Kommune Kujalleq (the South Greenland Municipality), Simon Bojsen-Møller, Head of EU Representation in Nuuk, and Per Haugaard, Head of EU Representation in Denmark.

In February 2024, the EU and Greenland signed a partnership agreement focused on the development of sustainable raw materials value chains in Greenland. Greenland possesses several of the critical raw materials sought under the EU's Critical Raw Materials Act ("CRMA"), making it a key region for the EU's supply chain diversification efforts.

The CRMA identifies 34 materials as Critical Raw Materials ("CRMs"), based on their high economic importance to the EU and significant supply risks. The CRMA further designates a subset of 17 of the 34 CRMs as Strategic Raw Materials ("SRMs"). These SRMs are considered particularly vital due to their projected exponential growth in demand, complex production processes, and higher supply risks. The SRM list includes natural graphite (battery grade).

Under the CRMA, the EU can designate specific mining or processing projects as "Strategic Projects", providing these projects with streamlined permitting processes, access to financing, and other forms of support. As previously reported, GreenRoc's Amitsoq graphite project was announced a Strategic Project in June 2025.

GreenRoc's CEO, Stefan Bernstein, commented:

"We are delighted to welcome this important delegation to Amitsoq, and to provide them with an in-depth look at our graphite deposit, which we are developing into a future source of this strategic raw material. This visit further underscores the EU's support for our efforts to establish a secure, responsibly sourced supply chain of processed graphite for Europe's automotive and defence industries."

EU Commissioner Dan Jørgensen to visit Amitsoq

GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is pleased to announce that the European Union ("EU") Commissioner for Energy, Dan Jørgensen, will be visiting GreenRoc's Amitsoq graphite deposit and planned mine site this week.

During the visit, Commissioner Jørgensen will be joined by Malene Vahl Rasmussen, Mayor of Kommune Kujalleq (the South Greenland Municipality), Simon Bojsen-Møller, Head of EU Representation in Nuuk, and Per Haugaard, Head of EU Representation in Denmark.

In February 2024, the EU and Greenland signed a partnership agreement focused on the development of sustainable raw materials value chains in Greenland. Greenland possesses several of the critical raw materials sought under the EU's Critical Raw Materials Act ("CRMA"), making it a key region for the EU's supply chain diversification efforts.

The CRMA identifies 34 materials as Critical Raw Materials ("CRMs"), based on their high economic importance to the EU and significant supply risks. The CRMA further designates a subset of 17 of the 34 CRMs as Strategic Raw Materials ("SRMs"). These SRMs are considered particularly vital due to their projected exponential growth in demand, complex production processes, and higher supply risks. The SRM list includes natural graphite (battery grade).

Under the CRMA, the EU can designate specific mining or processing projects as "Strategic Projects", providing these projects with streamlined permitting processes, access to financing, and other forms of support. As previously reported, GreenRoc's Amitsoq graphite project was announced a Strategic Project in June 2025.

GreenRoc's CEO, Stefan Bernstein, commented:

"We are delighted to welcome this important delegation to Amitsoq, and to provide them with an in-depth look at our graphite deposit, which we are developing into a future source of this strategic raw material. This visit further underscores the EU's support for our efforts to establish a secure, responsibly sourced supply chain of processed graphite for Europe's automotive and defence industries."

Https://www.londonstockexchange.com/news-article/GROC/eu-commissioner-to-visit-amitsoq/17245604

Mike Buck, CEO of Petro Matad, said:

"The Heron-2 acid job went according to plan but taking into account the significant volume of unrecovered injected fluid in the well, completion and pumping offer a timely and cost-effective way to get a definitive result in this re-test. We are grateful to our neighbours PetroChina for providing equipment to enable us to adapt the Heron-2 programme expeditiously. We look forward to a smooth rig up at Gazelle-1 and to testing the well during October."

Key updates

· Block XX acidisation operations completed at Heron-2. Well clean up continuing.

· Workover rig mobilising to Gazelle-1 for well testing programme.

Well Testing Operations

As previously reported, activities to acidise and re-test the Heron-2 well commenced on 25 August. The well was re-entered and cleaned out by means of a swabbing operation which uses a tool run on wireline to lift fluid out of the well bore. During the pre-acid clean up gas and oil were observed in greater concentrations than those seen in the original well testing programme conducted in October 2024.

The acid wash programme was then completed successfully with the planned volume of acid injected into the reservoir. After a 20 hour soak the swabbing string was re-run to recover the injected fluid, clean out the hole and begin recovery of reservoir fluid. However, with 640 barrels of injected fluid still remaining to be recovered, the Company has now determined that the quickest and most cost-effective way to get a definitive result from the re-test of Heron-2 is to run a completion string, install a surface pump and conduct a pumped test.

Work has now started to complete the well and install temporary surface production equipment. PetroChina has provided us with a suitable second-hand beam pump and our construction contractor has mobilised to site. We expect to be ready to start pumping operations by month's end to recover the remainder of the injected fluids and then determine the flowing reservoir fluid and the well's productive capacity. Should a commercial oil rate be achieved the temporary facilities can continue to operate whilst a permanent storage tank is installed. PetroChina has identified a second-hand tank that we can use if required.

The workover rig is now moving to the Gazelle-1 well. All permits and approvals are in place to commence the well test programme which we anticipate will start before the end of September and complete by the end of October after which the rig will move to Gobi Bear-1.

Https://www.londonstockexchange.com/news-article/MATD/operational-update/17245600

For Information

https://www.mining.com/video/canada-to-fast-track-major-mining-projects/

Big trades reported.

20m traded

6p / 15.96m

321m shares in issue.

• Post-tax NPV10: US$1.97 bn

5.45 / 15m

Overview

The Amapá Iron Ore Project is a fully integrated mine, railway, and port operation located in northern Brazil. Once one of the country’s largest producers, the project is being redeveloped under a staged strategy to deliver near-term cashflow and long-term growth.

Project Highlights

• JORC Resource: 276 Mt @ 38% Fe

• Ore Reserve: 195.8 Mt @ 39.3% Fe

• Production Plan: 5.5 Mtpa of 67.5% Fe DR grade concentrate

• Low Costs:

• FOB: US$27.3/dmt

• CFR China: US$55.5/dmt (lowest quartile globally)

• Economics:

• Post-tax NPV10: US$1.97 bn

• IRR: 56%

• Life-of-Mine: 15 years

• Average annual free cash flow: US$342 m

Staged Development

1. Azteca Plant Restart – Near-Term Cashflow

Reprocessing historic tailings (Dyke 5).

Target production: ~380,000 tpa of 65% Fe concentrate.

Capex: US$3.5 m.

Offtake prepay funding secured (US$4.6 m).

Forecast: ~US$32 m free cash flow over 3 years.

2. Full-Scale Development

Scale up to 5.5 Mtpa of DR-grade concentrate.

Pre-production capex: US$377 m.

Supported by rail and port infrastructure powered by renewable hydroelectricity.

5.50 paid

5.10 / 14.3m