GRML News & Events

Greenland Mines announced that it has entered into an Agreement to acquire Neo North Star Resources, owner of the Sarfartoq Rare Earths Project in southwest Greenland, from its stockholders including Neo Performance Materials. The transaction will be structured as a merger between Neo North Star Resources and a newly-formed, wholly-owned subsidiary of the company. Sarfartoq is an advanced carbonatite-hosted rare earths deposit strongly enriched in the elements neodymium and praseodymium. The acquisition will give Greenland Mines two complementary Greenland development assets: Nd-Pr-rich Sarfartoq and the Skaergaard precious and critical metals project. At closing, total consideration for the acquisition will be $35M, paid in the form of $20M in cash and $15M in newly issued shares of Greenland Mines common stock.

Greenland Mines has entered into a framework agreement with GTK Mintec, the mineral processing and circular-economy pilot plant of the Geological Survey of Finland, or GTK. The agreement is to carry out an extensive mineralogical, metallurgical, processing and environmental / hydro-geochemical investigation program for the company's Skaergaard Gold, Palladium, Platinum and Critical Metals Project in East Greenland. GTK Mintec, located in Outokumpu, Finland, combines mineral research laboratories with an industrial-scale pilot plant, a dedicated tailings and extractive-waste test area, and process-water research facilities. The facility has been operating since the mid-1980s, now handling around 100 projects per year, including 8-12 industrial-scale pilot runs. Under the new framework agreement, GTK Mintec will work in close collaboration with Greenland Mines and technical advisors to design and execute an integrated testwork program that spans the full value chain from ore characterization to pilot-scale processing and tailings behavior. Skaergaard is a large, layered mafic intrusion hosting one of the world's largest undeveloped palladium-gold-platinum resources, with additional potential for iron, titanium, vanadium, gallium and other critical metals in vanadium-bearing titanomagnetite and related phases.