Business
GROC Update - Interim Results
GROC Update - Interim Results.
About this update from Alba Mineral Resources Plc
[{"type":"text","content":"\n\n16 August 2023 \nAlba Mineral Resources plc \n(\"Alba\" or the \"Company\") \n \nInvestee Company Update: GreenRoc Mining Interim Results\n \nAlba Mineral Resources plc (AIM: ALBA) is pleased to note the announcement today by its portfolio company, GreenRoc Mining plc (\"GreenRoc\") (AIM: GROC). Alba holds a 42.97% interest in GreenRoc. The announcement is set out below without material changes. \n \n \n \n \nGreenRoc Mining plc\n(\"GreenRoc\" or the \"Company\")\n \n \nINTERIM RESULTS FOR THE SIX MONTHS TO 31 MAY 2023\n \nThe Board of Directors of GreenRoc Mining Plc is pleased to report the Company's interim results for the six months ended 31 May 2023. These incorporate the results of its subsidiary companies Obsidian Mining Limited (\"OML\"), White Eagle Resources Limited (\"WERL\"), White Fox Resources Limited (\"WFRL\"), and its newly-created Greenlandic subsidiary Greenland Graphite A/S (together, the \"Subsidiary Companies\", collectively with GreenRoc, the \"Group\").\n \nHighlights\n \n· Mineral Resource Estimate (\"MRE\") update for Amitsoq announced in January 2023\no 23.05 million tonnes (Mt) at an average grade of 20.41% Graphitic Carbon (\"C(g)\"), giving a total graphite content of 4.71 Mt\no Represents threefold increase compared with maiden MRE from March 2022\n· Amitsoq graphite shown to be \"very suitable\" for processing into high-purity spherical graphite - the anode material for electric vehicle (\"EV\") batteries\n· Successful equity placings in December 2022 and March 2023, raising gross proceeds of £0.88 million, at average price of 3.8 pence\n· December 2022 placing included \"broker option\" to provide shareholders with opportunity to participate in placing for up to £200,000 in aggregate on same terms\n· Information meetings with local communities in South Greenland and meeting with Greenlandic Minister for Mineral Resources in January 2023\n· Amitsoq Social Impact Assessment (\"SIA\") and Environmental Impact Assessment (\"EIA\") programs initiated in November 2022 and July 2021 respectively\n·  ...