Investee Company Update
GreenRoc Strategic Materials, in which Alba Mineral Resources holds a 25.78% shareholding, has secured a binding secured loan facility of EUR 5.2 million from the Export and Investment Fund of Denmark (EIFO). The funds are earmarked for GreenRoc's work programs at the Amitsoq Graphite Mine in South Greenland and for establishing a European pilot plant to produce active anode material from Amitsoq graphite. This financing is considered a major milestone for GreenRoc since its IPO in late 2021 and is expected to significantly enhance shareholder value for both Alba and other GreenRoc shareholders.
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Alba Mineral Resources plc (AIM: ALBA), the gold and critical raw materials focused exploration and development company, is pleased to note today's announcement by its investee company GreenRoc Strategic Materials Plc ("GreenRoc") that it has signed a binding secured loan facility for EUR 5.2 million from the Export and Investment Fund of Denmark ("EIFO"), to be used for the financing of GreenRoc's work programmes both at the Amitsoq Graphite Mine in south Greenland and in relation to the establishment of a fully operational European pilot plant for the production of active anode material from Amitsoq graphite.
Alba has a 25.78% shareholding in GreenRoc.
The full text of the GreenRoc announcement, including a detailed summary of the terms and conditions of the loan facility, is available at: https://greenrocplc.com/regulatory-news.
Alba's Executive Chairman, George Frangeskides, commented:
"This financing agreement reached with the Danish Export and Investment Fund is the most important milestone for GreenRoc since its IPO in late 2021. Access to this funding will enable the company to make a major leap forward in the development of both the Amitsoq Mine and its downstream graphite processing capabilities and thereby create significantly enhanced shareholder value for Alba and all other GreenRoc shareholders."
| Alba Mineral Resources plc George Frangeskides, Executive Chairman | +44 20 3950 0725 | |
|---|---|---|
| SPARK Advisory Partners Limited (Nomad) Andrew Emmott | +44 20 3368 3555 | |
| CMC Markets plc (Broker) Thomas Smith / Douglas Crippen | +44 20 3003 8632 | |
| Alba's Projects & Investments | ||
| Projects Operated by Alba | Location | Ownership |
| Clogau (gold) | Wales | 100% |
| Dolgellau Gold Exploration (gold) | Wales | 100% |
| Gwynfynydd (gold) | Wales | 100% |
| Investments Held by Alba | Location | Ownership |
| GreenRoc S trategic Materials Plc (graphite - anode) | Greenland | 25.78% |
| Horse Hill (oil) | England | 11.765% |
| Earn-in Projects | Location | Earn-in Rights |
| Finnsbo (rare earths, copper, gold) | Sweden | Up to 100% |
| Optioned Projects | Location | Further details |
| Norrby (gold, other metals) | Sweden | RNS 6/11/24 |
| Glava (copper, gold) | Sweden | RNS 6/11/24 |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.