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Greenland Resources to List on the Toronto Stock Exchange
TORONTO--(BUSINESS WIRE)-- Greenland Resources Inc. (Cboe CA:MOLY, FSE:M0LY) (“Greenland Resources” or the “Company”) is pleased to announce, that its common sh
About this update from Greenland Resources Inc.
[{"type":"text","content":"TORONTO--(BUSINESS WIRE)-- Greenland Resources Inc. (Cboe CA:MOLY, FSE:M0LY) (“Greenland Resources” or the “Company”) is pleased to announce, that its common shares will commence trading on the Toronto Stock Exchange (TSX) as of the opening of trading on December 5, 2025, under the same Canadian market symbol \"MOLY\" (the “TSX Listing”). In connection with the TSX Listing, the Company's common shares will be de-listed from the Cboe Canada effective at market close on December 4, 2025. Shareholders are not required take any action in connection with the TSX Listing. BMO Nesbitt Burns Inc. is acting as a sponsor to Greenland Resources Inc. in connection with the TSX listing of the Company’s common shares. About Greenland Resources Inc. Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned Climax type primary molybdenum deposit located in central east Greenland. The Project also has magnesium as a byproduct, a market dominated 89% by China. The Malmbjerg project is an open pit operation with an environmentally friendly mine design focused on reduced water usage, low aquatic disturbance and low footprint due to modularized infrastructure. The Malmbjerg project benefits from an NI 43-101 Definitive Feasibility Study completed by Tetra Tech in 2022, with an US$820 million capex and a levered after-tax IRR of 33.8% and payback of 2.4 years, using an US$18 per pound molybdenum price. The Proven and Probable Reserves are 245 million tonnes at 0.176% MoS2, for 571 million pounds of contained molybdenum metal. As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years one to ten is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS2, approximately 25% of EU total yearly consumption and 100% of EU defence needs. On byproduct magnesium, the project uses approximately 35,000 m3 per day of saline water with around 900 ppm of magnesium and the Company is working on extracting magnesium from the saline water using innovative technologies. In addition, the molybdenum concentrate has a magnesium component. The Company is aiming to incorporate magnesium in the economics of the feasibility study. On June 19, 2025, The Company was aw...