Greenland Mines (NASDAQ: GRML) announced that independent consultant SLR Consulting (Canada) Ltd. has completed the first U.S. Securities and Exchange Commission S-K 1300-compliant Technical Report Summary for the Skaergaard project in southeast Greenland. The report features an updated 2026 Mineral Resource Estimate effective July 3, 2026, which increased indicated contained palladium equivalent (“PdEq”) metal by 31% to 15.0 million ounces and boosted indicated grade by 36% to 3.04 g/t PdEq. Inferred contained PdEq metal rose by 24% to 17.49 million ounces compared with the project’s 2022 resource estimate.
The company attributed the upgraded resource to improved geological modeling and updated metal price assumptions, including gold at $3,500 per ounce. The S-K 1300 compliance provides the regulatory foundation to advance toward an Initial Assessment, a critical step in project development. Greenland Mines also noted that its 2026 field program is underway with drilling, bulk sampling, engineering, environmental and geotechnical work designed to support evaluation of both open-pit and underground mining scenarios at the Skaergaard project.
The Skaergaard project is a key asset for Greenland Mines, which operates two divisions: Mining, focused on exploration and development of the Skaergaard project and, subject to closing of a previously announced transaction, the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and Biotech, including Klotho’s KLTO‑202 primary indication for ALS. The company’s strategy is centered on building a multi-asset platform with exposure to rare earth magnet materials, precious metals and selected midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
The updated resource estimate is significant because it not only increases the project's size and grade but also brings it into compliance with SEC standards, which can facilitate financing and partnership opportunities. The inclusion of higher gold prices reflects current market conditions and enhances the project's economics. The ongoing field program will provide data necessary for a preliminary economic assessment, which could further de-risk the project and attract investor interest.
Investors can view the full press release at https://ibn.fm/qqEBp. For the latest news and updates relating to GRML, visit the company’s newsroom at https://ibn.fm/GRML.
