Metals & Minerals News

Alba spin-out GreenRoc nears flotation on AIM

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Alba Mineral Resources plc has released details for the listing of its spin-out company, GreenRoc Mining plc, focused on multi-element assets in southern Greenland.

Shares: Alba will hold a majority 54% of GreenRoc Mining (stock photo)

PROJECTS

The new company comprises the Thule Black Sands ilmenite, Amitsoq graphite, Melville Bay iron and Inglefield multi-elements projects. 

On admission, due mid-September, gross funds of £5.12m are expected to be raised for an expected market capitalisation of £11.1m.

Alba will also receive GreenRoc shares valued at £6m, which will comprising 54% of the spin-out’s enlarged share capital.

GreenRoc’s board will consist of chief executive Kirk Adams; non-executive chairman George Frangeskides; finance director Jim Wynn; and non-executive directors Mark Austin, Lars Brunner and Mark Rachovides.

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One Reply to “Alba spin-out GreenRoc nears flotation on AIM”

  1. Pingback: Alba Minerals NED Lars Brünner resigns from board - Extractive Industries

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