Operating Highlights

- 3x increase in MRE

- MoU signed with Norwegian Mining & Construction Gp

- Graphite samples sent to potential off-take partner

- £250k grant from UK’s Automotive Transformation Fund

- PEA for Amitsoq with Pre-Tax NPV(8) of US$235m (IRR of 31.1%)

- £1.9m of new funds raised during the period

Financial Highlights

Income Statement:

- Admin Expenses of £903k (FY22; £1,030k)

- Operating Loss of £1,690 (FY22; £1,229k)

- Loss Before Tax of £1,693 (FY22; £1,230k)

Financial Highlights

Cashflow Statement:

- Net Cash Inflow from Financing £1,663k (FY22; £12k)

- Cash & Equiv. as at 30 Nov. 2023 of £152k (FY22; 126k)

Financial Highlights

Financial Position Statement:

- Net Current (liabilities) / Assets of £191k (FY22; (182k)

- Net Assets £9,027k (FY22; 8,965k)

Post Period End

- Jan’24 - Successful ElectroChem. battery tests & China visit

- Feb’24 - Law change to accelerate Exploitation Licence approval

- Mar’24 - Attended Minerals Security Partnership roundtable in Korea

- Apr’24 - Approval of enlarged licenses & received LoI from US EXIM Bank

- May’24 - PFS for AAM plant with pre-tax NPV(8) of US$837m (IRR of 33.8%) & share placing raising £238k at 1.8p

"During the past financial year, we have cemented Amitsoq's position as one of the world's foremost graphite deposits. Our team's work has been focused not just on bringing the Amitsoq Mine into production, but also on developing the economic case for a vertically integrated graphite business at GreenRoc, encompassing not only an upstream graphite mine and primary concentrate production but also a downstream anode plant which will turn that graphite concentrate into high-value cSPG for EV batteries. I am pleased to be able to say that we remain firmly on track for that twin objective, with independent economic assessments completed in the past year now providing a combined pre-tax NPV for both sides of the business of more than US$1 billion...

At the same time, it makes sense that our Company's name and branding should reflect the evolution of our business strategy and it is for that reason that we propose to change the Company's name from GreenRoc Mining to GreenRoc Strategic Materials, reflecting our ambition to become one of the first Western producers of high-value active anode material for electric vehicle batteries."

George Frangeskides, Chairman, GreenRoc

Market Intelligence

- World class graphite deposit at Amitsoq in Southern Greenland

- Amitsoq PEA of Pre-Tax NPV(8) of US$235m (IRR of 31.1%)

- AAM PEA of Pre-Tax NPV(8) of US$837m (IRR of 33.8%)

- PFS for Amitsoq due 2024

- One of only a handful of vertically integrated graphite projects globally

- New EU Critical Materials Act provides additional sources of funding