Quarterly Activities Report March 2025

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Stock Greenx Metals Ltd (GRX.ASX)
Release Time 30 Apr 2025, 8:12 a.m.
Price Sensitive Yes
 GreenX Metals Ltd reports Q1 2025 activities
Key Points
  • Selected as one of eight exploration companies to participate in BHP's 2025 Xplor program for Tannenberg Copper Project in Germany
  • Expanded Tannenberg exploration license area to 1,900 km2
  • Identified high-grade antimony and gold mineralization at Eleonore North project in Greenland
Full Summary

GreenX Metals Ltd (ASX:GRX, LSE:GRX) has released its Quarterly Activities Report for the period ending 31 March 2025. Key highlights include:Tannenberg Copper Project (Germany):- GreenX was selected as one of eight exploration companies to participate in BHP's 2025 Xplor program, providing US$500,000 in non-dilutive funding to support and accelerate exploration at Tannenberg.- The Tannenberg exploration license was expanded to 1,900 km2, a seven-fold increase from the previous 272 km2 area.- Upcoming work programs at Tannenberg, designed in collaboration with BHP, will include relogging and reassaying of archived core, airborne magnetic and radiometric surveys, ground gravity measurements, and reprocessing of historic geophysical data.Greenland Projects:- At the Eleonore North project, historical results have confirmed the presence of high-grade antimony and gold mineralization in outcropping veins, with individual samples grading up to 23% antimony and 4 g/t gold.- Antimony prices have surged to over US$60,000/t due to China's export controls, increasing the strategic importance of the Eleonore North project.- GreenX plans to further investigate the antimony-gold mineralization at Eleonore North, including accessing and analyzing additional historical data from the Geological Survey of Denmark and Greenland.- The Arctic Rift Copper Project is also being evaluated, with the company analyzing remote-sensing options to enhance understanding of the known copper mineralization and plan the next exploration program.Arbitration Award:- In October 2024, GreenX was awarded up to £252 million (A$525 million/PLN 1.3 billion) in compensation from a successful international arbitration claim against the Republic of Poland.- The company intends to return the majority of the available cash to shareholders once the award is satisfied, though Poland has lodged requests to set aside the award in the courts of England and Wales and Singapore.

Outlook

GreenX's exploration strategy at the Eleonore North project in Greenland will continue with a renewed focus on the known antimony-gold mineral systems, given the recent developments in the antimony market. The company also plans to analyze further remote-sensing options for the Arctic Rift Copper Project to enhance understanding of the known copper mineralization and refine plans for the next exploration program.