From Sermitsiaq, the local Greenland newspaper today:

Greenland Minerals upgrades

Rumors are swirling about a soon-to-be public hearing of Greenland Minerals' EIA report. At the same time, the company is upgrading with a capital increase.

Shenghe has not participated in the capital increase, but fully supports the implemented capital raising strategy. Shenghe is still a key partner for Greenland Minerals, says director Jørn Skov NielsenTrine Juncher Jørgensen

Rumors had been swirling for a few days on various Australian online media before Greenland Minerals on Wednesday confirmed a capital increase in the company of 30 million Australian dollars (approximately 150 million Danish kroner).

The capital increase has been implemented with the participation of institutional investors in North America, Europe and Australia.

Shenghe supports capital increase

Several have wondered whether it is the Chinese co-owner Shenghe Resources that has been behind the capital increase, but the director of Greenland Minerals, Jørn Skov Nielsen, rejects this.

- Shenghe has not participated in the capital increase, but fully supports the implemented capital raising strategy. Shenghe remains a key partner for Greenland Minerals.- In relation to the EIA report - we can confirm that the authorities have approved that this meets the requirements for public consultation. The report is currently awaiting. proofreading of the translations, says Jørn Skov Nielsen.