Greenx Metals Limited: Q3 2023 Activities Report

GreenX Metals Limited (ASX: GRX) initiated an Option Agreement with Greenfields Exploration Limited to potentially acquire the entire Eleonore North gold project in eastern Greenland, which has promising features akin to substantial gold deposits found in Canada. GreenX can secure full ownership by investing AU$600,000 in Eleonore North exploration within a year. This would involve a 1.5% Net Smelter Royalty and a payment of AU$250,000, either in cash or GreenX shares.

This move broadens GreenX's exposure to gold in Greenland, complementing their Arctic Rift Copper project. During the quarter, GreenX successfully conducted a Placing, issuing 5.2 million new shares to generate approximately AU$4.2 million in gross proceeds from new and existing investors. These funds will support exploration activities in Greenland and general corporate needs. The arbitration hearing for the claim against Poland concluded in November 2022. . As of September 30, 2023, GreenX had a cash balance of AU$10.7 million. This report summarizes the activities and developments for GreenX Metals Limited during and following that date.

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