Greenland Mines (NASDAQ: GRML) issued a shareholder letter from President Dr. Bo Møller Stensgaard highlighting progress since the company rebranded in March, including the Sept. 1 closing of its Sarfartoq Neodymium-Praseodymium Rare Earths Project acquisition and ongoing development work at the Skaergaard palladium-gold-platinum project. At Sarfartoq, the company cited an independent Initial Assessment with a high-case pre-tax NPV of approximately $2.05 billion and 118.6% IRR including Indicated and Inferred Mineral Resources, alongside an updated estimate of 6.9 million tonnes of Indicated resources at 1.60% TREO and 5.3 million tonnes of Inferred resources at 0.96% TREO. Greenland Mines also highlighted Neo Performance Materials as a strategic shareholder with offtake rights for up to 60% of future Sarfartoq production.
At Skaergaard, Greenland Mines said its July 2026 S-K 1300 Technical Report Summary increased Indicated PdEq grade by 36% and contained Indicated PdEq ounces by 31% compared with the 2022 estimate. The company is conducting a 2026 field program encompassing drilling, bulk sampling, geotechnical work, environmental baseline studies and surveys, with bulk material slated for metallurgical and processing flowsheet testing at GTK Mintec in Finland. Greenland Mines said its remaining 2026 milestones include advancing Sarfartoq toward targeted infill drilling and a Pre-Feasibility Study, moving Skaergaard toward an Initial Assessment evaluating a mining scenario and developing its broader North Atlantic Critical Metals Corridor strategy.
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About Greenland Mines
Greenland Mines Ltd is a Nasdaq-listed company with two operating divisions: (1) Mining, focused on the exploration and development of the Skaergaard Project in southeast Greenland and, subject to closing of the previously announced transaction, the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and (2) Biotech, including Klotho’s KLTO‑202 primary indication for ALS. The Company’s strategy is centered on building a multi-asset platform with exposure to rare earth magnet materials, precious metals and selected midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
NOTE TO INVESTORS: The latest news and updates relating to GRML are available in the company’s newsroom at https:/ibn.fm/GRML
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