GreenRoc Strategic Materials (AIM:GROC), the AIM-listed developer of critical mineral projects in Greenland, has drawn down a third tranche of €2 million (approximately £1.7 million) from its convertible loan facility with the Export and Investment Fund of Denmark (EIFO).
The drawdown follows tranches of €848,175 in December 2025 and €1.05 million in March 2026, bringing total funds pulled from the EIFO facility to date to roughly €3.9 million.
Proceeds will fund work across two fronts: at the Amitsoq Graphite Deposit in Greenland, the money covers a Phase III drilling programme, geotechnical consultancy, a near-coast bathymetry survey, and both pre-test work and an initial payment for processing the 18-tonne bulk ore sample collected underground in the autumn of 2025.
At the active anode materials (AAM) pilot plant in Denmark, funds will support hydrofluoric acid-free purification test work, installation of fume scrubber vents, and payment for the purification line.
A remaining €1.3 million is available under the facility and is expected to cover the balance of the 2026 work programme, including corporate costs.
GreenRoc expects to initiate a prefeasibility study at the Amitsoq mine before the end of the year.
