GreenX Secures A$13.6M Placement to Advance German and Greenland Projects

Capital Raise Fuels Exploration Ambitions

GreenX Metals Limited has successfully completed a bookbuild, raising approximately A$13.6 million in gross proceeds. This fresh capital injection is earmarked to accelerate exploration and development activities at its flagship Tannenberg Copper Project in Germany and the Eleonore North Project in Greenland, as well as to support ongoing legal arbitration costs. The placement underscores investor confidence in GreenX’s strategic assets and growth trajectory.

Tannenberg, Revisiting History with Modern Science

At the heart of GreenX’s recent progress is the validation of historical copper grades at the Tannenberg project. Originally estimated in the late 1930s and early 1980s, these historical figures suggested a substantial resource of 728,000 tonnes of contained copper at an average grade of 2.6%. GreenX’s modern assays, conducted on archived drill cores, have confirmed these grades and revealed mineralisation thicker than previously recorded, extending beyond the narrow Kupferschiefer shale horizon traditionally targeted.

This breakthrough challenges earlier geological models and aligns with contemporary understanding of Kupferschiefer-type deposits, as seen in Poland’s prolific KGHM mining operations. The confirmation of wider mineralised zones opens the door to significant resource upside, with ongoing core sampling and geophysical reinterpretation planned to support a JORC-compliant resource estimate.

Eleonore North, Unlocking Critical Metals in Greenland

GreenX’s Eleonore North Project in Greenland is shaping up as a promising source of gold, tungsten, and antimony. Historical data and recent fieldwork have identified high-grade mineralisation, including gold associated with quartz veining over a 15-kilometre surface trend and significant antimony and tungsten concentrations at the Margeries Prospects. With antimony prices surging globally, the project’s critical metals portfolio positions GreenX well within the evolving supply chain dynamics.

Plans for 2026 include detailed field mapping, sampling, and metallurgical test work to refine drill targets and advance resource definition. This methodical approach aims to convert historical estimates into JORC-compliant resources, enhancing project credibility and investment appeal.

Legal Victory Strengthens Financial Position

In a significant legal development, the Singapore International Commercial Court dismissed Poland’s application to set aside GreenX’s Energy Charter Treaty (ECT) award. This ruling upholds GreenX’s entitlement to approximately £252 million (A$519 million) in compensation related to an investment dispute, reinforcing the company’s financial foundation. While Poland may appeal, the court’s firm stance bolsters GreenX’s position as it continues to defend its awards in multiple jurisdictions.

Financial Health and Outlook

Despite ongoing exploration and legal expenses, GreenX maintains a solid cash position bolstered by the recent placement. The company’s strategic focus on advancing its core projects, combined with its legal wins, sets a positive tone for the year ahead. Investors will be watching closely as GreenX progresses its JORC resource conversions and continues to unlock value from its historical data and modern exploration techniques.