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GreenRoc Mining PLC ( (GB:GROC) ) just unveiled an update.
GreenRoc Strategic Materials Plc has successfully raised £450,000 through a subscription, issuing 18 million new ordinary shares at a 7% discount to the previous day’s bid price. The funds will be used for business development, including collecting a bulk sample of graphite ore from the Amitsoq mine, covering licensing fees, and conducting environmental impact studies. This capital injection is crucial for maintaining momentum on the Amitsoq project, which is vital for GreenRoc’s strategic positioning in the graphite supply chain, especially in light of its plans to establish a graphite processing plant.
More about GreenRoc Mining PLC
GreenRoc Strategic Materials Plc is a UK public company listed on AIM, specializing in the mining industry. The company focuses on the development of the Amitsoq Graphite Project in Greenland, aiming to supply high-grade graphite for electric vehicle manufacturers in Europe and North America. Amitsoq is recognized as one of the highest-grade graphite deposits globally, and GreenRoc is working towards establishing a graphite spheronisation processing plant, with significant support from European and American institutions.
Average Trading Volume: 3,708,854
Technical Sentiment Signal: Buy
Learn more about GROC stock on TipRanks’ Stock Analysis page.