Business
GROC update: MoU with Norwegian Mining Group, LNS
GROC update: MoU with Norwegian Mining Group, LNS.
About this update from Alba Mineral Resources Plc
[{"type":"text","content":"\n \n \n Alba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector: Mining\n \n \n \n \n \n 6 March 2023\n \n \n Alba Mineral Resources Plc\n \n \n (\"Alba\" or the \"Company\") \n \n \n \n \n \n GROC Update\n \n \n \n Amitsoq MoU with Norwegian Construction and Mining Group, LNS\n \n \n \n \n GROC Placing to raise £550k\n \n \n \n \n \n \n Alba Mineral Resources Plc (AIM: ALBA) is pleased to note the announcement today by its portfolio company, GreenRoc Mining Plc (\"GreenRoc\") (AIM: GROC), confirming the signing of a Memorandum of Understanding (\"MoU\") with Norwegian Construction and Mining Group LNS as part of GreenRoc's strategy to bring the Amitsoq Graphite Project into commercial production. \n Alba also notes GreenRoc's announcement that it has raised gross proceeds of £550,000 by way of a share placing.\n \n \n \n \n \n The GreenRoc announcement is set out below without material changes.\n \n \n \n \n \n \n \n \n \n GreenRoc Mining plc\n \n \n \n (\"GreenRoc\" or the \"Company\")\n \n \n \n \n \n \n \n \n Amitsoq MoU Signed with Norwegian Construction and Mining Group, LNS\n \n \n \n \n Placing to raise £550k\n \n \n \n \n \n \n \n \n GreenRoc Mining plc (AIM: GROC),\n a company focused on the development of critical mineral projects in Greenland,\n is delighted to announce that it has signed a Memorandum of Understanding (\"MoU\") with Leonhard Nilsen & Sønner A/S (\"LNS\"), a significant construction and mining group headquartered in Norway,\n in relation to the development of GreenRoc's Amitsoq Graphite Project in Greenland (\"Amitsoq\" or the \"Project\")\n .\n \n \n \n \n \n The Company is also pleased to announce that it has raised gross proceeds of £550,000 by way of a placing of 15,714,287 new ordinary shares of 0.1 pence each (the \"Placing Shares\") at a price of 3.5 pence per Placing Share (the \"Placing Price\") (the \"Placing\").\n \n \n \n \n \n The net proceeds of the Placing will be put towards further test work and studies for the advancement of the Amitsoq project in Greenland, including work on the scoping study; the processing of a 700kg bulk sample of graphite ore; electrochemical test work on Amitsoq HPSG (high purity spherical graphite); and ongoing work towards the completion of Environmental and Social Impact Assessments...