Quarterly Activities Report December 2024
| Stock | Greenx Metals Ltd (GRX.ASX) |
|---|---|
| Release Time | 29 Jan 2025, 8:19 a.m. |
| Price Sensitive | Yes |
GreenX Metals Reports Quarterly Activities for December 2024
- Selected for BHP's 2025 Xplor program, receiving US$500,000 in non-dilutive funding to accelerate exploration at Tannenberg Copper Project in Germany
- Identified high-grade antimony and gold mineralisation at Eleonore North project in Greenland, benefiting from surging antimony prices
- Awarded £252 million in compensation from successful international arbitration against Republic of Poland
GreenX Metals Limited (ASX:GRX, LSE:GRX) has presented its Quarterly Activities Report for the period during and subsequent to 31 December 2024. The key highlights include:German Project - Tannenberg Copper Project: GreenX was selected as one of eight exploration companies to participate in BHP's 2025 Xplor program, receiving approximately US$500,000 in non-dilutive funding to support and accelerate its exploration plans at the Tannenberg Copper Project.Greenland Projects: The company noted the recent U.S. strategic interest in Greenland and its two large-scale, strategic projects prospective for critical minerals. At the Eleonore North project, GreenX received outstanding antimony results, with antimony prices surging to over US$40,000/t. The company is reviewing and verifying new historical data to plan the next exploration program.Arbitration Award: GreenX was awarded up to £252 million (A$497 million/PLN 1.3 billion) in compensation from the successful outcome of the international arbitration claims against the Republic of Poland under both the Australia-Poland Bilateral Investment Treaty and the Energy Charter Treaty. The company intends to return the majority of the available cash to shareholders once the award is satisfied.The report also provided updates on the Arctic Rift Copper Project in Greenland and the company's corporate activities.
GreenX's exploration strategy at the Eleonore North project in Greenland will continue with a renewed focus on the known antimony-gold mineral systems. The company is also analyzing further remote-sensing options for the Arctic Rift Copper Project to enhance the understanding of the known copper sulphide mineralisation and refine plans for the next exploration program.