GreenX Metals Limited (ASX:GRX, LSE:GRX) (GreenX or the Company) is pleased to present its Quarterly Activities Report for the period during and subsequent to 30 June 2025.
HIGHLIGHTS
German Project - Tannenberg Copper Project
The Company announced that it was initiating an historical core logging and sampling program at the Tannenberg Copper Project (Tannenberg).
Core from 47 historical drill holes from the Tannenberg are now being comprehensively re-evaluated using modern exploration techniques.
Program provides major opportunity to unlock untested copper potential given under-sampling of target strata in historical core, which presents significant discovery upside.
Potential to discover previously unrecognised mineralisation in hanging wall limestone and footwall sandstones using modern analytical techniques.
Additional high-resolution helicopter-borne magnetic and radiometric geophysics has now been flown over part of Tannenberg covering the historical Richelsdorf Mining District with results expected to identify important deposit-scale faults as well as the extent of historical underground workings.
The Tannenberg area contains historically producing copper mines and multiple historical drill intercepts, with excellent potential for new discoveries of shallow (50 m to 500 m), large scale and high-grade copper and silver mineralisation, with much of the new expanded licence area remaining untested by modern exploration.
Tannenberg exploration licence expanded seven-fold to 1,900km2 from 272km2 following grant of additional exploration licence at the project.
Greenland Projects
The Company notes the recent U.S. strategic interest in Greenland including Greenland Prime Minister publicly stating that he is open to discussions with the U.S.
Greenland is endowed with an abundance of critical minerals which are essential for batteries, technology and defence.
The Company is well placed to capitalise on the increased interest in Greenland with two large scale, strategic projects prospective for critical minerals located in Greenland.
Eleonore North Project
Outstanding antimony results previously announced for the Eleonore North project in Greenland (Eleonore North or ELN).
Antimony price now at US$60,000/t from historical prices of ~US$5,000.
Critical mineral crisis escalating - China has now restricted export of critical and strategic antimony, graphite, gallium, germanium, tungsten, titanium and rare earths.
Antimony and tungsten have been designated as "Critical Minerals" by the U.S. and the EU, with NATO designating tungsten as defence-critical for the Allied defence industry.
Historical results from fieldwork at ELN include grab samples from outcropping mineralised veins with individual specimens grading up to 23% antimony (Sb), and other samples up to 4g/t gold (Au).
Antimony mineralisation has been identified along a ~4km trend in veins and structures, that broadly aligns with previously identified gold veining at surface within a 15km trend.
Arctic Rift Copper Project
The Company is targeting large scale copper in multiple settings across a 5,774 km2 licence at the Arctic Rift Copper Project (ARC).
Further analysis on remote-sensing options underway which aims to improve understanding of the known copper mineralisation and to plan the next exploration program at the project.
Arbitration Award
In October 2024, GreenX was awarded up to £252 million (A$517 million/PLN 1.2 billion) in compensation from the successful outcome of the international arbitration claims (Claim) against the Republic of Poland (Poland or Respondent) under both the Australia-Poland Bilateral Investment Treaty (BIT) and the Energy Charter Treaty (ECT).
Interest income of ~£14 million (A$29 million / PLN 68 million) per annum is currently accruing to GreenX. Against this, interest expense of ~£2.7 million (A$5.6 million / PLN 13.2 million) per annum is accruing on the US$11.3 million of litigation funding utilised.
Since the award was made, Poland has lodged a request to set-aside the award with the courts of England and Wales in relation to the BIT Award and the courts of Singapore in relation to the ECT Award.
The Company is strongly defending the set-aside motions with the hearing in Singapore for the ECT Award held subsequent to the end of the quarter.
Source: www.greenxmetals.com
Aleksei Andrievskii is the founder of the ANDRIEVSKII SEA WEALTH family office in Cyprus, member of the advisory board at Bendura Bank AG, Liechtenstein