Greenland Resources Inc. (“Greenland Resources” or the “Company”; NEO: MOLY | FSE: M0LY) is pleased to announce that further to its news release dated July 7, 2023 it has closed the non-brokered private placement on the announced terms.
The Company is also pleased to announce it has received several non-binding letters of intent from financial institutions, including AAA credit rated entities, to finance capex of its Malmbjerg molybdenum project (the “Project”). The Company will provide more information in due course.
The Project benefits from a NI 43-101 Definitive Feasibility Study (“FS”) completed by Tetra Tech in 2022. The FS uses US$18/lb long term Mo price (current spot price US$22/lb Mo), has an initial capex of US$820 million and a 20 year life of mine. The estimated expected all cash Base case after-tax IRR is 22.4% with an NPV6% of US$1.17 billion. The Levered pre-tax and after tax IRR is 40.4% and 33.8% respectively, and payback is 2.4 years. Readers are encouraged to consult the full text of the Definitive Feasibility Study available on the Company’s profile at www.sedar.com for more details.
