EIFO Drawdown
Summary by AI BETAClose X
GreenRoc Strategic Materials Plc / EPIC: GROC / Market: AIM / Sector: Mining
26 June 2026
GreenRoc Strategic Materials Plc
("GreenRoc" or the "Company")
Drawdown of EUR 2,000,000 of EIFO Loan Funds
GreenRoc Strategic Materials Plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is pleased to announce that it has drawn down a third tranche of loan funding amounting to €2,000,000 (circa £1.7m) from the Export and Investment Fund of Denmark ("EIFO") to cover operational costs related to the development of the Amitsoq Graphite Deposit and Active Anode Materials ("AAM") pilot plant.
EIFO Draw-down; Use of Funds
The funds have been drawn down pursuant to the convertible loan agreement between EIFO and GreenRoc (the "Agreement") announced by the Company on 22 October 2025 and will be utilised for the following items of the work programme:
Amitsoq Graphite Deposit
- Completion of pre-test work at SGS Lakefield, Canada on a 300kg subsample from the 18t bulk sample collected underground at Amitsoq in fall 2025
- Initial 50% payment for processing of full 18t bulk sample
- Phase III drilling programme and associated logistics and contractors
- Geotechnical consultancy by SLR
- On-site visit by SLR consultants and Competent Person/Chartered Geologist Dr. John Arthur
- Near-coast bathymetry survey
- Surveying of drill collars and underground historic mine workings
AAM Pilot Plant
- Hydrofluoric acid ("HF")-free purification optimisation test work
- Installation of vents for fume scrubber and ovens
- Payment for purification line
EIFO Loan Facility
Details of the Agreement were set out in the Company's announcement on 22 October 2025. This drawdown follows the first drawdown in December 2025 of €848,175, and the second drawdown of €1,050,000 in March 2026. Following this, €1,301,825 remains to be drawn and is anticipated to cover the full 2026 work programme including corporate costs for the period. The entirety of the 2026 work programme will include Phase III drilling, processing of the full 18t bulk graphite ore sample, and construction and initial operation of the AAM pilot plant in Denmark. It is also planned that the Amitsoq Mine Prefeasibility Study will be initiated by the end of the year.
According to the Agreement, the EIFO loan is not repayable or convertible into GreenRoc shares until December 2030, being five years from the first drawdown.
The Company will hold a webinar to discuss recent progress and developments with CEO Stefan Bernstein. This will be hosted live via the Company's website on Friday 26 June 2026 at 12:00 BST. Both existing and prospective investors are invited to submit their questions in advance. Sign up for the webinar and submit your questions for the management team here:
https://greenrocplc.com/webinars/eX2OzP-amitsoq-project-and-operations-update-june-2026
GreenRoc's CEO, Stefan Bernstein, commented:
"This latest drawdown from EIFO is another important step in advancing our 2026 work programme at Amitsoq and our AAM pilot plant in Denmark. EIFO's continued support enables us to progress key technical, drilling and processing activities while preserving shareholder value through non-dilutive funding. We look forward to updating investors further on our progress during today's webinar."
*ENDS**
For further information, please contact:
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Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor hub |
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GreenRoc Strategic Materials Plc Stefan Bernstein, CEO
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+44 20 3950 0724 |
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Cairn Financial Advisers LLP (Nomad) Sandy Jamieson / Louise O'Driscoll
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+44 20 7213 0880
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Oberon (Broker) Nick Lovering/Adam Pollock |
+44 20 3179 5300
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This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
Forward Looking Statements
This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market, financial and business conditions, competition for and availability of qualified staff and contractors, regulatory processes and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to finance, execute and implement future plans and programmes, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
About GreenRoc
GreenRoc Strategic Materials Plc is an AIM-quoted UK public company focused on developing the Amitsoq Graphite Project in Greenland into a producing mine to meet critical demand from Electric Vehicle ('EV') manufacturers in Europe and North America for new, high grade and conflict-free sources of graphite.
Amitsoq is one of the highest-grade graphite deposits in the world with a combined Measured, Indicated and Inferred JORC Resource of 23.05 million tonnes (Mt) at an average grade of 20.41% graphite, sufficient to sustain more than 20 years of mining. GreenRoc received an Exploitation Licence from the Government of Greenland in December 2025, valid for 30 years.
The plans for the Amitsoq Project include the construction of a facility to further process the mined graphite into active anode material ("AAM") - an indispensable component of Li-ion batteries - and these plans have been independently and positively evaluated to pre-feasibility study stage.
The Amitsoq Project was designated a Strategic Project by the EU in June 2025. The Project has also been ESG-certified by Digbee™, an independent platform which provides sustainability assessments for the mining industry.
In October 2025, GreenRoc signed a binding secured loan facility for EUR 5.2 million from the Export and Investment Fund of Denmark ("EIFO"), for the financing of the Company's work programme at Amitsoq and the AAM pilot plant.
In December 2025, GreenRoc, together with its consortium partners DTU and IPU, was awarded up to DKK 10,448,826 (c. £1.2m) by the Energy Technology Development and Demonstration Programme ("EUDP"), a Danish government funding programme, for the project entitled "EU-Graphite: Building European production of graphite active anode material".
An advisory agreement with European Investment Bank ("EIB") was signed on 11 June 2026 under which the EIB, free of charge, will provide market studies, facilitate contact with offtakers, provide technical-economic review etc. The service is offered through the InvestEU Advisory Hub and is free of charge to Greenroc.
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