GreenX Metals Secures A$13.6M to Accelerate German and Greenland Projects
GreenX Metals has raised A$13.6 million through a share placement to fund exploration at its Tannenberg Copper Project in Germany and Eleonore North Gold and Antimony Project in Greenland, reinforcing its balance sheet for 2026.
- Placement of 16 million shares at A$0.85 each raises A$13.6 million
- Funds earmarked for exploration and development in Germany and Greenland
- Support from existing and new institutional investors across North America and Europe
- Proceeds also to cover arbitration costs related to Poland
- Settlement expected on 4 February 2026 with shares issued shortly after
A Strategic Capital Raise
GreenX Metals Limited has successfully completed a significant capital raise, securing approximately A$13.6 million through a placement of 16 million new shares priced at A$0.85 each. This move comes as the company looks to bolster its financial position to advance key exploration and development projects in Europe and the Arctic.
The placement was facilitated with the assistance of SCP Resource Finance LP and attracted strong backing from both existing shareholders and new institutional investors, notably from North America and Europe, including Germany and Switzerland. This geographic diversity in investor support underscores growing confidence in GreenX’s strategic direction and asset portfolio.
Focused Investment in High-Potential Projects
The net proceeds from the placement will primarily fund exploration and development activities at two flagship projects, the Tannenberg Copper Project in Germany and the Eleonore North Gold and Antimony Project in Greenland. Both projects hold promising potential, with Tannenberg poised for a more targeted exploration program aimed at refining drill targets and better understanding the scale of its copper resources.
GreenX’s CEO, Ben Stoikovich, highlighted that the strengthened balance sheet positions the company well for 2026, enabling systematic data integration and prioritisation of drill-ready targets at Tannenberg. Meanwhile, the Eleonore North project continues to be a strategic asset in the company’s portfolio, offering exposure to gold and antimony markets.
Additional Uses of Funds and Corporate Considerations
Beyond exploration, a portion of the funds will support general working capital needs, including costs associated with ongoing arbitration proceedings against Poland. While details on the arbitration remain limited, this allocation signals the company’s intent to manage legal risks proactively without compromising operational momentum.
The placement shares are expected to settle on 4 February 2026, with issuance planned shortly thereafter under the company’s existing capacity pursuant to ASX Listing Rule 7.1A. This timely capital injection should provide GreenX with the flexibility to execute its exploration plans without delay.
Market and Investor Implications
GreenX’s ability to attract new institutional investors alongside existing shareholders reflects a positive market reception to its growth strategy. The focus on high-quality copper and precious metals projects aligns well with ongoing demand for base and precious metals, driven by global trends in electrification and green technologies.
However, investors will be watching closely for the company’s forthcoming exploration results and updates on the arbitration proceedings, both of which will be critical in validating the potential unlocked by this capital raise.
Bottom Line?
GreenX’s fresh capital injection sets the stage for a pivotal year of exploration and legal clarity.
Questions in the middle?
- What specific exploration milestones will GreenX target at Tannenberg and Eleonore North in 2026?
- How might the arbitration proceedings against Poland impact GreenX’s financial and operational outlook?
- Will the new institutional investors influence GreenX’s strategic direction or governance?
