Greenland Mines Engages GTK Mintec for Comprehensive Metallurgical and Processing Flow Program at Skaergaard

Rhea-AI Summary

Greenland Mines (Nasdaq: GRML) has engaged GTK Mintec to run an integrated mineralogical, metallurgical, pilot‑scale processing and tailings program for the Skaergaard multi‑metal project in East Greenland. Work includes advanced mineralogy (MLA/QEMSCAN, EPMA), bench and pilot flotation, hydromet tests, and tailings/process‑water studies using a 10–20 tonne bulk sample.

The program aims to validate flowsheets to recover gold, palladium, platinum and Fe‑Ti‑V products, evaluate low‑emission processing routes, and generate process design data to support next development decisions.

Positive

• Framework agreement with GTK Mintec provides end‑to‑end pilot testing capacity
• Pilot‑scale program planned using a large bulk sample (expected 10–20 tonnes)
• Program covers advanced mineralogy, beneficiation, hydrometallurgy and tailings testing
• Focus includes low‑emission and alternative processing routes alongside conventional methods

Negative

• Skaergaard is fine‑grained and strongly layered, requiring sophisticated processing approaches
• Pilot validation depends on obtaining and processing a 10–20 tonne bulk sample from 2026 work

News Market Reaction – GRML

-5.94%

18 alerts

-5.94% Session close to close

+7.2% Peak Tracked

-7.2% Trough Tracked

$59.30M Market Cap

0.8x Rel. Volume

In the Apr 23 session, GRML declined 5.94%, reflecting a notable negative market reaction. Argus tracked a peak move of +7.2% during that session. Argus tracked a trough of -7.2% from its starting point during tracking. Our momentum scanner triggered 18 alerts that day, indicating notable trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -5.9% in the session following this news. A negative reaction despite positive news ...

Analysis

The stock moved -5.9% in the session following this news. A negative reaction despite positive news fits prior patterns where operational announcements around Skaergaard sometimes coincided with selling, as seen in 3 past divergences. Even though the GTK Mintec program advances metallurgical understanding, investors may focus on execution risk, project complexity, or broader market conditions. The existing Nasdaq bid-price compliance deadline of September 14, 2026 and timing of future workplan milestones could also weigh on risk perception.

Key Figures

Annual project load: around 100 projects per year Industrial pilot runs: 8–12 pilot runs per year Bulk sample size: 10–20 tonnes +5 more

8 metrics

Annual project load around 100 projects per year GTK Mintec facility throughput

Industrial pilot runs 8–12 pilot runs per year GTK Mintec industrial-scale pilots

Bulk sample size 10–20 tonnes Pilot-scale processing sample from Skaergaard

Personnel capacity 40–50 personnel Icebreaker M/V Argus accommodation capacity

Industrial zone size 100,000–200,000 m2 Targeted brownfield Icelandic processing sites

Power cost target below US$0.03/kWh Potential low-carbon power for processing hubs

Energy savings $1 billion Potential life-of-mine savings vs diesel Arctic processing

Bid compliance deadline September 14, 2026 Nasdaq minimum bid price extension end date

Historical Context

5 past events · Latest: Apr 16 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 16	Processing site LOI	Positive	+4.2%	LOI to evaluate low-carbon Icelandic site with large potential energy savings.
Apr 02	Local engagement step	Positive	-1.6%	Subsidiary joined Greenland Business Association to support local supply chains.
Mar 25	Field logistics secured	Positive	-5.2%	Charter of icebreaker M/V Argus for 2026 field and logistics support.
Mar 23	Nasdaq extension	Positive	+3.4%	Additional 180-day period granted to regain Nasdaq minimum bid compliance.
Mar 19	Environmental baseline EIA	Positive	-4.5%	Engagement of WSP Denmark for full EIA baseline at Skaergaard site.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Operational and strategic Skaergaard updates have often produced mixed or contrary price reactions, with more instances of divergence than alignment.

Recent Company History

Over recent months, Greenland Mines has focused on advancing the Skaergaard project and related infrastructure. Updates included an LOI for a North Atlantic processing site with potential energy savings above $1 billion (Apr 16), local engagement via the Greenland Business Association (Apr 2), and securing the icebreaker M/V Argus for the 2026 field program (Mar 25). The company also obtained a Nasdaq bid-price compliance extension to Sep 14, 2026 and launched an environmental baseline program. The current GTK Mintec engagement continues this de-risking and development trajectory.

Key Terms

hydrometallurgical, autoclave, beneficiation, magnetic separation, +4 more

8 terms

hydrometallurgical medical

"Hydrometallurgical testwork, including leaching and pressure‑leach / autoclave tests..."

Hydrometallurgical describes methods that use water-based chemistry to dissolve, separate and recover metals from ores, concentrates or recycled materials, much like dissolving sugar to separate it from tea and then collecting the sugar back out. It matters to investors because these processes determine how much metal a project can realistically produce, the operating cost and environmental footprint, and therefore influence revenue potential, capital needs and regulatory risk.

autoclave technical

"including leaching and pressure‑leach / autoclave tests on concentrates..."

A sterilizing chamber that uses high-pressure steam to kill bacteria, viruses and spores on medical instruments, lab glassware and certain manufactured goods—think of it like an industrial pressure cooker that makes tools safe to use. Investors care because autoclaves are critical for regulatory compliance, product safety and facility operations in healthcare, biotech and manufacturing; their presence, capacity and maintenance can affect costs, production timelines and liability risk.

beneficiation technical

"Beneficiation testwork, including, particle‑size and size‑by‑size chemical analysis..."

Beneficiation is the process of cleaning, concentrating, or otherwise improving raw mined material so it contains more of the valuable mineral and less waste rock, similar to removing chaff from grain to leave the useful kernels. For investors, beneficiation matters because it changes how much saleable product a mine produces, affects production costs and capital needs, and influences profit margins, commodity supply and permitting or environmental obligations.

magnetic separation technical

"gravity separation, magnetic separation (LIMS / HIMS) and bench‑scale flotation..."

Magnetic separation is a method that uses magnets to pull magnetic materials away from non-magnetic ones, like using a magnet to pick out nails from a sandbox. In industry and labs it is used to concentrate minerals, remove contaminants, or isolate biological particles, affecting product purity, yield, operating costs and environmental compliance—factors that can materially influence a company’s profitability and regulatory risk profile.

flotation technical

"magnetic separation (LIMS / HIMS) and bench‑scale flotation to test alternative flowsheets..."

Flotation is the process where a privately held business makes its shares available to the public by listing them on a stock exchange, commonly called an initial public offering (IPO). For investors it matters because flotation creates a market price and trading chance for those shares, signals a company's growth plans and need for capital, and changes how the business is governed — like a small shop selling ownership stakes to many new customers to raise money and spread risk.

pressure oxidation technical

"processes such as chloride leaching, pressure oxidation and emerging alternative routes..."

Pressure oxidation is a high-pressure, high-temperature chemical process used to break down tough mineral ores so valuable metals can be recovered more easily, like using a pressure cooker to soften food before extracting ingredients. It matters to investors because it can substantially increase metal recovery and thus revenue, but also raises capital, operating and environmental costs and technical risk, affecting a mining project's profitability and timeline.

ore sorting technical

"integrate seamlessly with Greenland Mines' ongoing and planned work on ore sorting..."

Ore sorting is a process that separates valuable rock from waste rock before it goes to the main processing plant, using sensors or simple physical differences like color, density, or metal content. Think of it like picking ripe apples out of a batch so only the best ones go to market; for investors, sorting can raise the ore’s quality, lower processing and transport costs, reduce environmental impact, and improve a mine’s economics and cash flow.

tailings technical

"tailings and extractive‑waste studies, including production of representative tailings..."

Tailings are the leftover rock, water and fine particles produced when ore is crushed and processed to extract metals or minerals. Think of them as the muddy residue from a kitchen filtering process: they are stored in ponds or engineered dams and can carry chemical contaminants, so they matter to investors because they represent ongoing cleanup costs, regulatory liabilities and operational risks that can affect a mining company’s finances and reputation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Establishes end-to-end processing and pilot testing program to unlock multi-metal value at Skaergaard

CHARLOTTE, N.C., April 23, 2026 /PRNewswire/ -- Greenland Mines Ltd ("Greenland Mines" or the "Company") (Nasdaq: GRML) announces that it has entered into a framework agreement with GTK Mintec, the mineral processing and circular‑economy pilot plant of the Geological Survey of Finland (GTK).  The agreement is to carry out an extensive mineralogical, metallurgical, processing and environmental / hydro‑geochemical investigation program for the Company's Skaergaard Gold, Palladium, Platinum and Critical Metals Project in East Greenland.

Bo Møller Stensgaard, Ph.D., Greenland Mines Ltd. President, commented, "Bringing GTK Mintec into the Skaergaard story is a major step forward for our project. They are, in our view, one of the strongest mineralogical and metallurgical pilot‑testing set‑ups in Europe – combining top‑tier researchers, a unique industrial‑scale pilot plant and a dedicated tailings and process‑water research platform, all under the umbrella of the Geological Survey of Finland.

"Skaergaard is a complex, fine‑grained, multi‑metal layered intrusion. To unlock its full potential in gold, palladium, platinum and the bulk metals like iron, titanium and vanadium, we need a partner that can go deep into the mineralogy, petrology and process design, and is willing to explore both conventional and cutting‑edge low‑emission processing routes. GTK Mintec has repeatedly demonstrated exactly that approach, not only in Finland but also in a wide range of EU‑funded and international projects with commercial mining companies.

"With GTK Mintec, our technical team and SLR Consulting working together, we are putting in place a world‑class platform to design and pilot‑test a flowsheet that aims to recover as much value as possible from Skaergaard – from the precious metals through to potential Fe‑Ti‑V and other critical‑metal products – while at the same time building a strong understanding of tailings, process water and environmental performance from day one. For both institutional and retail investors, this should underline that Skaergaard is on a clear path towards becoming a technically robust, environmentally responsible and strategically relevant operation and a project that is increasingly positioned to attract strategic and financing partners as we advance toward the next set of development decisions," concluded Dr. Stensgaard.

GTK Mintec, located in Outokumpu, Finland, combines state‑of‑the‑art mineral research laboratories with an industrial‑scale pilot plant, a dedicated tailings and extractive‑waste test area, and process‑water research facilities, providing an end‑to‑end platform from ore to tailings and reuse.

The facility has been operating since the mid‑1980s, now handling around 100 projects per year, including 8–12 industrial‑scale pilot runs, with a strong focus on critical raw materials, base metals, PGMs and battery minerals from both primary ores and secondary streams.

A leading partner for complex, fine‑grained deposits

GTK Mintec is widely recognized as one of Europe's leading mineral processing research and pilot‑testing centers, with particular strength in fine‑grained, complex and polymetallic ore types.  This includes layered mafic intrusions, titanomagnetite‑bearing iron‑titanium‑vanadium systems, and low sulphide precious metal deposits.

GTK Mintec's Outokumpu pilot plant and laboratories have supported feasibility‑level and pilot campaigns for multiple Nordic and international mining projects, including the Hautalampi Ni‑Cu‑Co project in Finland.  It has been a core technical partner in a series of EU‑funded raw materials and circular economy initiatives together with commercial mining and processing companies.  Through these programs GTK Mintec has built a broad international network of industrial and research partners, which it can draw on for specialized expertise relevant to Skaergaard.

Through GTK Mintec, GTK also maintains an extensive international network of collaborators across academia, research institutes, and industry in Europe, Africa, and other regions, and participates in numerous EU Horizon and ERDF projects aimed at developing innovative pilot solutions for sustainable raw‑materials production. This combination of independent geological survey quality assurance and commercial pilot‑plant experience makes GTK Mintec a particularly strong fit for advancing a project of Skaergaard's scale and complexity.

Scope of work – from mineralogy to pilot‑scale processing and tailings

Under the new framework agreement, GTK Mintec will work in close collaboration with Greenland Mines, the Company's appointed Qualified Persons and other technical advisors to design and execute an integrated testwork program that spans the full value chain from ore characterization to pilot‑scale processing and tailings behavior.

Key work packages currently envisaged include:

• Advanced mineralogical characterization using tools such as MLA/QEMSCAN and EPMA to define liberation, grain size, associations and deportment for gold, palladium, platinum and associated critical metals (e.g. vanadium, gallium, germanium, titanium, iron), building on more than a dozen historical bench‑scale studies
• Gold deportment and hydroseparation studies on multiple feed types to refine understanding of PGM and gold occurrence in the fine‑grained Skaergaard mineralization
• Beneficiation testwork, including, particle‑size and size‑by‑size chemical analysis, grinding and liberation optimization, gravity separation, magnetic separation (LIMS / HIMS) and bench‑scale flotation to test alternative flowsheets for recovering PGM‑rich concentrates and Fe‑Ti‑V‑rich magnetite/ilmenite products
• Hydrometallurgical testwork, including leaching and pressure‑leach / autoclave tests on concentrates, and evaluation of modern low‑emission processes such as chloride leaching, pressure oxidation and emerging alternative routes (e.g. Kell‑type and molten‑salt‑based processes) as potential complements to conventional smelting
• Pilot‑scale processing, using a large bulk sample (expected to be in the order of 10–20 tonnes from multiple locations, supported by 2026 drill core and surface channel samples) to conduct continuous pilot campaigns in GTK Mintec's industrial‑scale pilot plant, allowing validation of the selected flowsheet under near‑industrial conditions and generation of process design data
• Tailings and extractive‑waste studies, including production of representative tailings from pilot campaigns for geochemical and geotechnical characterization, evaluation of acid‑generation potential (expected to be low given the very low sulphide content), process‑water recycling behavior and long‑term tailings performance using GTK Mintec's dedicated SMARTTEST and tailings‑test platforms

This program is intended to integrate seamlessly with Greenland Mines' ongoing and planned work on ore sorting, pre‑concentration, Fe‑Ti‑V‑Ga‑Ge recovery options, and tailings and water‑management concepts for both open‑pit and underground development scenarios at Skaergaard.

Kimmo Tiilikainen, Director General of Geological Survey of Finland, commented, "Skaergaard is a geologically exceptional deposit, and we are excited to collaborate with Greenland Mines on this project. GTK´s role is to provide impartial research data to support the project through mineralogical characterization, development of beneficiation solutions, evaluation of recovery potential from mineral resources, and assessment of the environmental impact of mining waste. The collaboration will promote the efficient and sustainable utilization of metals and minerals from both primary ores and side streams, leveraging GTK Mintec's strong expertise in metallic and industrial mineral ores, advanced research methods and specialized infrastructure."

The GTK Mintec program is being planned in parallel with the Company's upcoming field work at Skaergaard, and Greenland Mines will update the market on the integrated 2026 workplan and related milestones in due course.

A perfect match for Skaergaard's bulk, multi‑metal potential

Skaergaard is a large, layered mafic intrusion hosting one of the world's largest undeveloped palladium‑gold‑platinum resources, with additional potential for iron, titanium, vanadium, gallium and other critical metals in vanadium‑bearing titanomagnetite and related phases. The deposit is fine‑grained and strongly layered, requiring a sophisticated combination of petrological understanding, mineralogical detail and modern processing technology to unlock its full value.

GTK Mintec's philosophy of maximizing recovery from both primary ores and side streams, and its focus on "extracting everything possible" from a deposit through integrated mineralogical, beneficiation and tailings work, aligns closely with Greenland Mines' bulk‑approach to Skaergaard and its goal of designing a flowsheet that can capture value from both precious‑metal and bulk‑metal streams.

The GTK Mintec program also fits directly into Greenland Mines' broader North Atlantic Processing Site Strategy, under which Skaergaard ore would be mined and pre‑processed in East Greenland and then shipped a short distance to Iceland for low‑carbon downstream processing. Together, the GTK Mintec testwork and the Company's Icelandic site‑evaluation work are key technical pillars in building an integrated North Atlantic critical‑minerals corridor linking Greenlandic resources with European and North American markets.

For investors, the engagement of GTK Mintec is another clear signal that Skaergaard is moving beyond resource definition into the kind of deep metallurgical and processing work normally associated with advanced development projects. This is exactly the kind of de‑risking and value‑engineering work that can have a material impact on future project economics, payback and optionality, well beyond what drilling alone can deliver.

About Greenland Mines Ltd

Greenland Mines Ltd is a Nasdaq-listed company with two operating divisions: (1) Natural Resources, focused on the exploration and development of the Skaergaard Project in Southeast Greenland, one of the largest undeveloped palladium, gold, and platinum deposits in the world; and 2) Cell and Gene Therapy, including Klotho's KLTO-202 primary indication for ALS. The Company holds, through its recent acquisition of Greenland Mines Corp., an 80% interest in, and option to acquire the remaining 20% of, the Skaergaard Project, which hosts a 2022 NI 43-101 Indicated and Inferred Mineral Resource of 25.4 Moz PdEq and 23.5 Moz AuEq with a gross undiscounted in-situ resource value of approximately $68 billion based on February 2026 metal prices. The Company is led by an experienced team of mining, geological, biotech, and capital markets professionals.

Forward-Looking Statements

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Without limiting the generality of the foregoing, the forward-looking statements in this press release include descriptions of the Company's future commercial operations. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, such as the Company's inability to implement its business plans, identify and realize additional opportunities, or meet or exceed its financial projections and changes in the regulatory or competitive environment in which the Company operates. You should carefully consider the foregoing factors and the other risks and uncertainties described in the documents filed or to be filed by the Company with the U.S. Securities and Exchange Commission (the "SEC") from time to time, which could cause actual events and results to differ materially from those contained in the forward-looking statements. All information provided herein is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

The Mineral Resource Estimates referenced in this press release were prepared in accordance with NI 43-101 by SLR Consulting as disclosed in the technical report dated November 22, 2022. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The gross undiscounted in-situ metal values expressed herein are illustrative calculations using February 2026 metal prices and do not account for mining recoveries, metallurgical losses, capital costs, operating costs, royalties, taxes, permitting requirements, or any other technical or economic factors. These values are not indicative of future revenue, project economics or net present value. No preliminary economic assessment, pre-feasibility study, or feasibility study has been completed on the Skaergaard Project, and there is no certainty that the Mineral Resources disclosed will be converted to Mineral Reserves or that an economically viable mining operation can be established.

Investor Contact and Corporate Communications:
ir@greenlandmines.com

Website: www.greenlandmines.com

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SOURCE Greenland Mines Ltd

FAQ

What did Greenland Mines announce about GTK Mintec and Skaergaard (GRML) on April 23, 2026?

Greenland Mines announced a framework agreement with GTK Mintec to run integrated metallurgical and pilot testing at Skaergaard. According to the company, the program spans mineralogy, bench and pilot processing, hydrometallurgy and tailings studies to support flowsheet development.

What scope of pilot work will GTK Mintec perform for Skaergaard (GRML)?

GTK Mintec will execute advanced mineralogical characterization, beneficiation, hydrometallurgical tests and pilot‑scale campaigns. According to the company, this includes MLA/QEMSCAN, flotation, pressure‑leach tests and tailings/process‑water evaluation.

How large is the bulk sample planned for GTK Mintec pilot campaigns for Skaergaard (GRML)?

The pilot campaigns are expected to use a large bulk sample of about 10–20 tonnes. According to the company, samples will come from 2026 drill core and surface channel material to validate continuous pilot runs.

Which metals and products is the GTK Mintec program targeting at Skaergaard (GRML)?

The program targets precious metals (gold, palladium, platinum) and bulk metals such as iron, titanium and vanadium. According to the company, work also assesses recovery of related critical elements like vanadium, gallium and germanium.

What environmental and tailings work will be included in the GTK Mintec program for Skaergaard (GRML)?

The program will produce representative pilot tailings for geochemical and geotechnical testing and process‑water recycling studies. According to the company, tests include acid‑generation potential and long‑term tailings performance using SMARTTEST platforms.