Toronto, February 1, 2023–(BUSINESS WIRE)–Greenland Resources (NEO:MOLY, FSE:M0LY) (“Greenland Resources” or the “Company”) Appoints Endeavor Financial as Financial Advisor and announced that it will help raise funds. Expenditure funds for the Malmbjerg Molybdenum Project in East Greenland (the “Project”).
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Advisory services complement the current excellent support from the European Raw Material Alliance (“ERMA”), according to press release EIT/ERMA_June 13, 2022 press release. We have worked with the ERMA Access to Finance group to hold discussions with potential investors consisting of European and North American supranational banks, crown companies, funds and commercial banks.
George Piper, Managing Director of Endeavor Financial, commented:
Greenland Resources Chairman Dr. Ruben Shiffman said: European demand for high quality molybdenum from Greenland is very positive and this combined with our high HIS ESG standards, the current molybdenum price (US$36.50/lb Mo), which is why he is 2 more than double. The prices used in our recent feasibility study make our project a compelling investment story.”
About Endeavor Financial
Endeavor Financial is a leading mining financial advisory firm specializing in providing multi-sourced financing solutions for development stage companies with offices in London, UK, Georgetown, Cayman Islands and Vancouver, British Columbia. is one of Founded in 1988, Endeavor Financial has a reputation for client success of over US$500 million in royalty and stream finance, he over US$4 billion in debt finance and over US$28 billion in M&A. The Endeavor Financial team has diverse experience in both natural resources and finance, including investment bankers, geologists, mining engineers, cash flow modelers and investors. For more information, please visit www.endeavorfinancial.com.
About Greenland Resources
Greenland Resources is a Canadian public company, principally regulated by the Ontario Securities Commission, focused on developing a wholly owned, world-class Climax-type pure molybdenum deposit in central-eastern Greenland. The Malmbjerg Molybdenum Project is an open pit mining with an environmentally friendly mine design that focuses on reduced water use through modular infrastructure, reduced water turbulence and a reduced footprint. The Malmbjerg project benefits from the NI 43-101 Definitive Feasibility Study completed by Tetra Tech in 2022 and at MoS 0.176% he has Proved and Probable Reserves of 245 million tons.2, contains 571 million pounds of molybdenum metal. High grade molybdenum is mined in the first half of the mine life so the average annual production from years 1 to 10 is 32.8 million pounds per year with an average grade of 0.23% MoS of molybdenum metal contained.2This project had a previous development license granted in 2009. With offices in Toronto, the company is led by a management team with extensive experience in mining and capital markets. For more information, please see our Canadian regulatory filings on his website at www.greenlandresources.ca and Greenland Resources’ profile at www.sedar.com.
About molybdenum and the European Union
Molybdenum is an important metal, mainly used in steel and chemicals, and will be required by all technologies in the upcoming green energy transition (World Bank, 2020; IEA, 2021). Addition to steel and cast iron improves strength, hardenability, weldability, toughness, temperature strength and corrosion resistance. Around 576 million pounds of molybdenum were produced globally in 2021, based on data from the International Molybdenum Association and the European Commission Steel Report. The European Union (“EU”) is the second largest producer of steel in the world, using about 25% of the world’s. It is a molybdenum supplier and has no domestic molybdenum production. EU steel-dependent industries such as automotive, construction and engineering account for about 18% of the EU’s USD 16 trillion GDP. Greenland Resources’ strategically located Malmbjerg molybdenum project has the potential to supply around £24 million a year of eco-friendly molybdenum from responsible EU member states within and for his EU for decades to come. . The high quality of his Malmbjerg ore, with its low impurity content of phosphorus, tin, antimony and arsenic, makes it an ideal source of molybdenum for the world-leading high-performance steel industries in Europe, especially Scandinavia and Germany.
Forward-Looking Statements
This news release contains “forward-looking information” (also known as “forward-looking statements”) that relate to future events or future performance and that reflect management’s current expectations and assumptions. is included. Often, but not always, forward-looking statements involve the use of words such as “plans,” “hopes,” “anticipates,” “anticipates,” “budgets,” “intends,” “estimates,” and similar terms. can be identified by predict, “intend,” “expect,” or “believe,” or variations of such words or phrases (including negative variations), or “could” a particular action, event, or outcome; , ‘could’, ‘would’, ‘may’ or ‘will’ be taken, will occur, or will be achieved. Such forward-looking statements reflect the current thinking of management and are based on information and assumptions currently available to the Company. All statements other than statements of historical fact are forward-looking statements or information. Forward-looking statements or information contained in this news release relate, among other things, to the following: Ability to negotiate supply agreements with end-users, roasters and distributors on economic or no terms. Company objectives, goals or future plans, statements, exploration results, mineralization potential, mineral resources and reserve estimates and their valuation, exploration and mine development plans, timing of commencement of operations, and estimates of market conditions.
These forward-looking statements and information reflect our current view of future events and are necessarily based on a number of assumptions we believe to be reasonable. These assumptions include: Estimates of our mineral reserves and underlying assumptions. This includes geological and metallurgical properties of rocks that confirm sampled results and metallurgical performance. Tonnage of ore mined and processed. ore grades and recoveries; assumptions and discount rates appropriately applied to technical investigations; Estimated valuations and potential success of our projects, including the Malmbjerg Molybdenum Project. The price of molybdenum is as estimated. The exchange rate is as estimated. availability of funds for our projects; estimates of decommissioning and reuse of capital; Estimates of mineral reserves and resources and underlying assumptions. Prices for energy inputs, labor, materials, equipment and services (including transportation). No labor-related disruptions. No unscheduled delays or interruptions in scheduled construction and production. All required permits, licenses and regulatory approvals have been received in a timely manner. Ability to comply with environmental, health and safety laws. The preceding list of assumptions is not exhaustive.
The Company assumes that forward-looking statements and information involve known and unknown risks, uncertainties and other factors and that actual results and developments may differ from the forward-looking statements contained in this news release. Readers are cautioned that statements or information may differ materially from those expressed or implied. We base our assumptions and estimates on, or in connection with, many of these factors. Such factors include the projected and actual impact of the COVID-19 coronavirus on factors related to our business, including supply chains, labor markets, currency and commodity prices, and impacts on global and Canadian capital markets. Including but not limited to: Molybdenum and Commodity Price Volatility. price volatility of energy inputs, labor, materials, supplies and services (including transportation); Fluctuations in currency markets (Canadian Dollar, US Dollar, Euro, etc.). operational risks and hazards inherent in mining operations (including environmental accidents and hazards, occupational injuries, equipment failures, abnormal or unexpected geological or structural formations, cave-ins, floods, severe weather); inadequate or inability to obtain insurance to cover our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in Greenlandic laws, regulations and government practices, including environmental, import and export laws and regulations; Mining Legal Restrictions. Expropriation risk. Increased competition for equipment and qualified personnel in the mining industry. availability of additional capital; ability to procure and negotiate supply and take-back agreements with eligible counterparties on economic or no terms; Title matters and additional risks identified in Canada’s filings with Canadian securities regulators on his SEDAR (available at www.sedar.com). Although we have attempted to identify important factors that could cause actual results to differ materially, there could be other factors that could cause results to differ from those anticipated, estimated, explained or intended. There is a nature. Investors are cautioned not to place undue reliance on forward-looking statements or information.
These forward-looking statements are made as of the date hereof and the Company neither intends nor intends to update any forward-looking information, except as required by applicable securities regulations. We are not obligated to do so.
Neither NEO Exchange Inc. nor its regulated service providers are responsible for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein.
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contact address
For more information, please contact:
Dr. Ruben Shiffman, Chairman, President
Keith Minty, P.Eng, MBA Engineering and Project Management
Jim Steel, P.Geo, MBA Exploration and Mining Geology
Nauha Bianco, M.Pol.Sci. Public Relations and Community Relations
Gary Anstey Investor Relations
Eric Grossman, CPA, CGA Chief Financial Officer
Corporate Office Suite 1410, 181 University Av. Toronto, Ontario, Canada M5H 3M7
Phone +1 647 273 9913
Email info@greenlandresourcesinc.com
Web www.greenlandresources.ca
