Greenland Mines Ltd. (Nasdaq: GRML)
NEWS
Greenland Mines Delivers Two Key Milestones at Skaergaard: Bathymetric Survey Completed, Initial Metallurgical Core Drilling Concluded
News Provided by Energy Metal News on behalf of Greenland Mines Ltd
CHARLOTTE, N.C., Aug. 12, 2026 (GLOBE NEWSWIRE) — Energy Metal News News Commentary – In the space of about four weeks, a Nasdaq-listed development company published its first S-K 1300 compliant technical report on a deposit in southeast Greenland and watched its indicated resource rise roughly a third against the prior baseline, adopted a shareholder rights plan, and then put a support vessel across the Denmark Strait and started turning drill rigs on the ice-free window. The resource behind all of that was calculated using a gold price deck of US$3,500 per ounce. Gold traded around US$4,367 an ounce on August 11, roughly 9% higher than a month ago and about 30% above where it sat a year earlier. The company is not the story here so much as the arithmetic is: the deposit was measured against a number the market has since moved well past, and the field season now underway is intended to generate data that could support future resource and study work. Companies mentioned in today’s commentary includes: Greenland Mines Ltd (Nasdaq: GRML), Agnico Eagle Mines Limited (NYSE: AEM), Newmont Corporation (NYSE: NEM), Kinross Gold Corporation (NYSE: KGC), Wheaton Precious Metals Corp. (NYSE: WPM).
The asset is one of the largest undeveloped gold, palladium and platinum deposits in the world, sitting inside a 56-million-year-old layered intrusion on a coastline that is reachable by ship for a matter of weeks each year. It is not a discovery story. The deposit has been known for decades. What has changed is that somebody is finally spending a full field season on it with a rig fleet, an airstrip, an environmental consultancy and a technical report written to the standard the SEC actually requires.
Greenland Mines Ltd (Nasdaq: GRML) announced on August 11, 2026 that its support vessel Argus has arrived and anchored at the Skaergaard gold, palladium and platinum project in southeast Greenland following a crossing of the Denmark Strait, and that drilling has commenced as the 2026 field season moves into full operation. The Company holds an 80% interest in the licenses covering the project through its subsidiary Major Precious Greenland A/S. President Dr. Bo Møller Stensgaard described the start of the season as the moment the whole year had been building toward.
The Ship Anchored, Then the Rigs Started Turning
Argus anchored close to shore near the area identified for initial drilling and bulk sampling. Equipment, machinery, materials and onshore infrastructure were slung from the vessel to shore, and safety drills and inductions were completed across all parts of the operation before work began. Diamond drill rigs supplied and operated by Nordisk Fundering, including two new heli-portable units, have been assembled and are running, with the first holes expected to be completed within days.
Initial drone-based LiDAR surveys are finished, areas for later-season blasting and bulk sampling have been outlined, roughly one third of planned drill locations have been identified and marked, and the Sodalen airstrip has been confirmed operational. None of that is a result. All of it is the difference between a project that is described and a project that is being worked.
A Resource That Grew by About a Third in July
On July 15, 2026 the Company published its first S-K 1300 compliant Technical Report Summary for Skaergaard, prepared by SLR Consulting (Canada) Ltd. with a mineral resource estimate effective July 3, 2026. It supersedes the NI 43-101 baseline from November 2022, and any figure circulating from that older report should be treated as stale.
The 2026 estimate reports Indicated mineral resources of 153.6 million tonnes grading 3.04 grams per tonne palladium equivalent for 15.00 million ounces of contained palladium equivalent, against 11.41 million ounces on the prior basis. Inferred resources are 177.5 million tonnes at 3.07 grams per tonne palladium equivalent for 17.49 million ounces, against 14.11 million ounces previously. The estimate uses a net smelter return cut-off of US$84 per tonne.
Gold Has Moved Above the Estimate’s Price Assumption
The metal prices used in that estimate are US$3,500 per ounce gold, US$1,725 per ounce palladium and US$2,100 per ounce platinum. Those were reasonable assumptions when the work was done. A resource estimate has to fix a price deck at a point in time, and conservative decks are the professional norm precisely because commodity prices move.
Gold has moved. It traded around US$4,367 per ounce on August 11, 2026, up roughly 9% over the preceding month and about 30% year over year, supported by expectations of lower U.S. interest rates after a weak July jobs report, continued central bank buying, and geopolitical friction. That is not a statement about what any deposit is worth. Cut-off grades, recoveries, capital costs and operating costs all move with the same tides, and the only figure that settles the question is an economic study. It is a statement about the gap between the assumption in the report and the screen, and about which direction that gap currently runs.
Who Is Actually Doing the Work
The names attached to the project are worth more than the adjectives. SLR Consulting (Canada) Ltd. prepared the technical report. Nordisk Fundering supplies and operates the drills. In March 2026 the Company engaged WSP Danmark A/S, part of the global WSP group, to design and implement a full Environmental Impact Assessment baseline program, support development of the Terms of Reference and prepare the EIA report required for an exploitation license application to the Government of Greenland.
Wolfgang Maier, Professor of Earth Sciences at Cardiff University and a recognized authority on magmatic ore deposits and layered mafic-ultramafic intrusions, has been in discussions with the exploration geologists on site. Skaergaard is one of the most studied layered intrusions in the geological literature, which is an unusual advantage: the academic groundwork on how the system formed largely already exists.
Two Months, and Then the Weather Decides
The Company has said it is positioned to execute a full and productive season across the coming two months. That is the countdown, and nobody at the company sets it. Southeast Greenland grants a working window measured in weeks, defined by sea ice and daylight rather than by budget or ambition. Everything the 2026 program is meant to produce has to be produced inside it or wait a year.
The program is designed to support further upgrading of the mineral resource, to advance metallurgical and engineering studies through bulk sampling, and to generate the environmental, geotechnical and infrastructure data required to advance the project toward an Initial Assessment, the S-K 1300 equivalent of a preliminary economic assessment. Bulk sampling is the item to watch. Metallurgy is where deposits of this type historically succeed or fail, and a bulk sample is how that question starts getting answered rather than modelled.
Why the Market Has Not Caught Up Yet
Skaergaard has a reputation problem that is largely a function of its own history. It has been known and studied for decades without being developed, and deposits carrying that history get filed mentally under permanent potential rather than under active project. That filing was accurate for a long time.
The location compounds it. Southeast Greenland reads as a logistics impossibility to anyone who has not looked at the specifics, and the specifics, a support vessel, a functioning airstrip, heli-portable rigs and an engaged environmental consultancy, are exactly the kind of unglamorous detail that does not travel well in a headline. The metal mix compounds it again: a palladium-equivalent resource with gold and platinum credits does not slot cleanly into either a gold screen or a platinum group metals screen, so it tends to be missed by both.
What has actually happened since mid-July is a compliant technical report replacing an aging one, an indicated resource stepping up by roughly a third on that basis, and a fully mobilized field season with rigs turning. There are no assays yet and no economic study. It is the sequence a development-stage company has to complete before either becomes possible, and it has run in public, in order, inside four weeks.
Other companies to keep an eye on:
The companies below are producers and royalty holders, considerably larger, and are referenced to describe what the current metal price environment is doing to businesses that already have output. They are not peers, competitors or financial comparables of Greenland Mines, which has no production, no reserves and no revenue from mining.
Agnico Eagle Mines Limited (NYSE: AEM)
Agnico Eagle shows what today’s prices do to a well-run producer’s cash generation. Second-quarter 2026 payable gold production was 855,816 ounces at a realized gold price of US$4,483 per ounce, above budget for a second consecutive quarter. Net income was US$1.6 billion, or US$3.19 per share basic, with adjusted earnings of US$3.07 per share on revenue of US$3.8 billion.
Free cash flow reached a record US$1.34 billion and the company returned a record US$625 million to shareholders through dividends and buybacks, including US$400 million of repurchases. Total cash costs were US$1,054 per ounce and all-in sustaining costs US$1,459 per ounce. Net cash rose to US$3.27 billion. Full-year production guidance of 3.3 to 3.5 million ounces was maintained but is expected toward the low end after a July rock mass movement at the Barnat pit at Canadian Malartic rendered roughly 370,000 ounces temporarily inaccessible, with mining targeted to resume in the fourth quarter. Capital expenditure guidance was raised to US$2.6 to US$2.8 billion to fund construction at Hope Bay.
Newmont Corporation (NYSE: NEM)
Newmont is the largest gold producer in the world and reported record second-quarter free cash flow of US$2.2 billion on approximately 1.3 million attributable gold ounces, plus 17,000 tonnes of copper and 7 million ounces of silver. Cash flow from operations was US$2.9 billion and adjusted EBITDA US$3.8 billion, with adjusted net income of US$2.10 per diluted share.
The average realized gold price was US$4,414 per ounce, a 33% increase that substantially outpaced a 4% rise in costs applicable to sales. All-in sustaining costs were US$1,621 per ounce against a US$1,680 annual target. The company returned approximately US$1.9 billion to shareholders and has now repurchased more than 100 million shares since the program began. Full-year guidance of roughly 5.3 million attributable gold ounces was reaffirmed. Newmont also received regulatory approvals from British Columbia for the Red Chris Block Cave project, including an amended Environmental Assessment Certificate completed through a consent-based process with the Tahltan Nation.
Kinross Gold Corporation (NYSE: KGC)
Kinross reported attributable second-quarter production of 492,326 gold equivalent ounces with revenue up 29% to US$2,238.1 million, driven by a 37% increase in the average realized gold price to US$4,483 per ounce. Margin per gold equivalent ounce sold increased 42% to US$3,131.
Reported earnings were US$844.2 million, or US$0.71 per share, up 59% year over year, with attributable free cash flow of US$726.8 million and operating cash flow of US$1,145.9 million. Cash and cash equivalents rose to US$2.7 billion and net cash to US$1.9 billion. The company remains on track for full-year attributable production of 2.0 million gold equivalent ounces at an all-in sustaining cost of US$1,730 per ounce, and is targeting return of 40% of free cash flow to shareholders, with roughly US$615 million returned year to date.
Wheaton Precious Metals Corp. (NYSE: WPM)
Wheaton is included for a structural reason rather than an operational one. Streaming and royalty companies are among the natural sources of construction capital for development-stage deposits, which makes their appetite a live variable for any project heading toward an economic study. Second-quarter 2026 revenue was a record US$929 million, up 85% year over year, with net earnings of US$543 million and operating cash flow of US$650 million.
Attributable production rose 6% to approximately 202,200 gold equivalent ounces. Growth was driven in part by an expanded silver stream at Antamina, and the company added new streaming and royalty agreements covering the Jervois, Spanish Mountain and Cipango projects. It ended the quarter with roughly US$2.6 billion of available liquidity, reaffirmed 2026 production guidance of 860,000 to 940,000 gold equivalent ounces, and maintained a long-term outlook of roughly 1.2 million ounces by 2030. Shares rose sharply following the results presentation on August 7.
Track the Signals Before the Crowd
The best positioning happens before the crowd catches on. Eagle Eye is a real-time investor signal-intelligence platform that surfaces sentiment shifts, news flow, and trending tickers as they form, so you see attention building instead of chasing it. Watch it live at eagle-eye.dev.
Forward-Looking Statements
This article may contain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Statements regarding the objectives of the 2026 field program, the timing or completion of drilling, bulk sampling or metallurgical work, the potential upgrading of mineral resources, the advancement of the project toward an Initial Assessment, and any exploitation license application are forward-looking. Actual results may differ materially. Readers are referred to the forward-looking statements disclosure in the Company’s own releases and to its filings with the U.S. Securities and Exchange Commission at www.sec.gov.
Cautionary Note Regarding Technical Information and Mineral Resources
The mineral resource figures referenced in this article are drawn from the Company’s S-K 1300 compliant Technical Report Summary for the Skaergaard Project prepared by SLR Consulting (Canada) Ltd., with a mineral resource estimate effective July 3, 2026, which supersedes the November 2022 NI 43-101 technical report. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Inferred mineral resources carry a high degree of uncertainty as to their existence and whether they can be economically or legally mined, and it should not be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. No preliminary economic assessment, prefeasibility study or feasibility study has been completed on the Skaergaard Project, and an Initial Assessment has not been prepared. No production decision has been made and no economic viability has been demonstrated.
Drilling described in this article is in progress and assay results are pending. Visual observations of mineralization in drill core are not necessarily indicative of grade or metal content. Metal price assumptions used in a mineral resource estimate are fixed at the time of the estimate and do not track spot prices; references in this article to the current gold price are provided as general market context only and do not imply any change to the estimated value, viability or economics of the Skaergaard Project. Any exploitation license remains subject to application to and approval by the Government of Greenland, and no assurance can be given that any such license will be granted.
Referenced Companies
References to Agnico Eagle Mines Limited, Newmont Corporation, Kinross Gold Corporation and Wheaton Precious Metals Corp. are provided solely as market and sector context. Those companies are producers or royalty and streaming companies and are not peers, competitors, or financial comparables of Greenland Mines Ltd, which has no mineral reserves, no production and no mining revenue. Their results, production, costs and share performance are not indicative of Greenland Mines Ltd’s prospects. No partnership, affiliation, sponsorship, or endorsement is implied. SLR Consulting (Canada) Ltd., WSP Danmark A/S and Nordisk Fundering are service providers engaged by the Company and are not comparables.
Disclaimer
Nothing in this publication should be considered personalized financial advice. We are not licensed under securities laws to address your particular financial situation, and no communication from us should be deemed personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor a recommendation to buy or sell any security. We hold no investment licenses and are neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances.
This article is being distributed for Market Equities Limited, a company incorporated under the laws of Ireland (“MEL”), which wholly owns and operates Energy Metal News. MEL has been paid a fee for Greenland Mines Ltd advertising and digital media from Creative Direct Marketing Group (“CDMG”). MEL also expects to receive further compensation as part of an ongoing digital media effort to increase visibility for the company. No further notice will be given, but let this disclaimer serve as notice that all material, including this article, has been reviewed and approved on behalf of Greenland Mines Ltd by CDMG.
This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged not to use this publication as the basis for any investment decision.
MEL and/or its owners, operators, directors, and affiliates own shares of Greenland Mines Ltd which were purchased in the open market, and reserve the right to buy and sell shares of Greenland Mines Ltd at any time without any further notice commencing immediately and ongoing, in the open market, through private placements, and/or through other investment vehicles. There may also be third parties who hold shares of Greenland Mines Ltd and may liquidate their shares, which could have a negative effect on the price of the stock.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in this publication is not trustworthy unless verified by their own independent research. Because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may lose some or all of your investment.
This document is governed by the laws of Ireland.
Eagle Eye Disclosure
Eagle Eye is an investor signal-intelligence platform affiliated with the publisher of this article, and this reference constitutes promotion of an affiliated product. Eagle Eye is not a broker-dealer, and nothing in the platform or in this article is financial, investment, tax, or legal advice. Data provided in the platform is for informational purposes only and may be delayed. Always do your own research before making any investment decision.
Sources
Greenland Mines Ltd, “Greenland Mines Arrives at Skaergaard, Commences Drilling as 2026 Field Season Moves into Full Operation,” August 11, 2026: https://www.juniorminingnetwork.com
Greenland Mines Ltd investor relations: ir.greenlandmines.com
Greenland Mines Ltd, WSP Danmark A/S environmental baseline engagement, March 19, 2026: https://www.barchart.com
Gold spot price data, August 11, 2026: tradingeconomics.com/commodity/gold
Second quarter 2026 results releases of the referenced companies as linked in the body of this article.
Contact
Energy Metal News
info@energymetalnews.com
Source: Energy Metal News
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Skaergaard’s 2026 Resource Used a $3,500 Gold Assumption; Gold Has Since Traded Above $4,300
News Provided by Energy Metal News on behalf of Greenland Mines Ltd
CHARLOTTE, N.C., Aug. 12, 2026 (GLOBE NEWSWIRE) — Energy Metal News News Commentary – In the space of about four weeks, a Nasdaq-listed development company published its first S-K 1300 compliant technical report on a deposit in southeast Greenland and watched its indicated resource rise roughly a third against the prior baseline, adopted a shareholder rights plan, and then put a support vessel across the Denmark Strait and started turning drill rigs on the ice-free window. The resource behind all of that was calculated using a gold price deck of US$3,500 per ounce. Gold traded around US$4,367 an ounce on August 11, roughly 9% higher than a month ago and about 30% above where it sat a year earlier. The company is not the story here so much as the arithmetic is: the deposit was measured against a number the market has since moved well past, and the field season now underway is intended to generate data that could support future resource and study work. Companies mentioned in today’s commentary includes: Greenland Mines Ltd (Nasdaq: GRML), Agnico Eagle Mines Limited (NYSE: AEM), Newmont Corporation (NYSE: NEM), Kinross Gold Corporation (NYSE: KGC), Wheaton Precious Metals Corp. (NYSE: WPM).
The asset is one of the largest undeveloped gold, palladium and platinum deposits in the world, sitting inside a 56-million-year-old layered intrusion on a coastline that is reachable by ship for a matter of weeks each year. It is not a discovery story. The deposit has been known for decades. What has changed is that somebody is finally spending a full field season on it with a rig fleet, an airstrip, an environmental consultancy and a technical report written to the standard the SEC actually requires.
Greenland Mines Ltd (Nasdaq: GRML) announced on August 11, 2026 that its support vessel Argus has arrived and anchored at the Skaergaard gold, palladium and platinum project in southeast Greenland following a crossing of the Denmark Strait, and that drilling has commenced as the 2026 field season moves into full operation. The Company holds an 80% interest in the licenses covering the project through its subsidiary Major Precious Greenland A/S. President Dr. Bo Møller Stensgaard described the start of the season as the moment the whole year had been building toward.
The Ship Anchored, Then the Rigs Started Turning
Argus anchored close to shore near the area identified for initial drilling and bulk sampling. Equipment, machinery, materials and onshore infrastructure were slung from the vessel to shore, and safety drills and inductions were completed across all parts of the operation before work began. Diamond drill rigs supplied and operated by Nordisk Fundering, including two new heli-portable units, have been assembled and are running, with the first holes expected to be completed within days.
Initial drone-based LiDAR surveys are finished, areas for later-season blasting and bulk sampling have been outlined, roughly one third of planned drill locations have been identified and marked, and the Sodalen airstrip has been confirmed operational. None of that is a result. All of it is the difference between a project that is described and a project that is being worked.
A Resource That Grew by About a Third in July
On July 15, 2026 the Company published its first S-K 1300 compliant Technical Report Summary for Skaergaard, prepared by SLR Consulting (Canada) Ltd. with a mineral resource estimate effective July 3, 2026. It supersedes the NI 43-101 baseline from November 2022, and any figure circulating from that older report should be treated as stale.
The 2026 estimate reports Indicated mineral resources of 153.6 million tonnes grading 3.04 grams per tonne palladium equivalent for 15.00 million ounces of contained palladium equivalent, against 11.41 million ounces on the prior basis. Inferred resources are 177.5 million tonnes at 3.07 grams per tonne palladium equivalent for 17.49 million ounces, against 14.11 million ounces previously. The estimate uses a net smelter return cut-off of US$84 per tonne.
Gold Has Moved Above the Estimate’s Price Assumption
The metal prices used in that estimate are US$3,500 per ounce gold, US$1,725 per ounce palladium and US$2,100 per ounce platinum. Those were reasonable assumptions when the work was done. A resource estimate has to fix a price deck at a point in time, and conservative decks are the professional norm precisely because commodity prices move.
Gold has moved. It traded around US$4,367 per ounce on August 11, 2026, up roughly 9% over the preceding month and about 30% year over year, supported by expectations of lower U.S. interest rates after a weak July jobs report, continued central bank buying, and geopolitical friction. That is not a statement about what any deposit is worth. Cut-off grades, recoveries, capital costs and operating costs all move with the same tides, and the only figure that settles the question is an economic study. It is a statement about the gap between the assumption in the report and the screen, and about which direction that gap currently runs.
Who Is Actually Doing the Work
The names attached to the project are worth more than the adjectives. SLR Consulting (Canada) Ltd. prepared the technical report. Nordisk Fundering supplies and operates the drills. In March 2026 the Company engaged WSP Danmark A/S, part of the global WSP group, to design and implement a full Environmental Impact Assessment baseline program, support development of the Terms of Reference and prepare the EIA report required for an exploitation license application to the Government of Greenland.
Wolfgang Maier, Professor of Earth Sciences at Cardiff University and a recognized authority on magmatic ore deposits and layered mafic-ultramafic intrusions, has been in discussions with the exploration geologists on site. Skaergaard is one of the most studied layered intrusions in the geological literature, which is an unusual advantage: the academic groundwork on how the system formed largely already exists.
Two Months, and Then the Weather Decides
The Company has said it is positioned to execute a full and productive season across the coming two months. That is the countdown, and nobody at the company sets it. Southeast Greenland grants a working window measured in weeks, defined by sea ice and daylight rather than by budget or ambition. Everything the 2026 program is meant to produce has to be produced inside it or wait a year.
The program is designed to support further upgrading of the mineral resource, to advance metallurgical and engineering studies through bulk sampling, and to generate the environmental, geotechnical and infrastructure data required to advance the project toward an Initial Assessment, the S-K 1300 equivalent of a preliminary economic assessment. Bulk sampling is the item to watch. Metallurgy is where deposits of this type historically succeed or fail, and a bulk sample is how that question starts getting answered rather than modelled.
Why the Market Has Not Caught Up Yet
Skaergaard has a reputation problem that is largely a function of its own history. It has been known and studied for decades without being developed, and deposits carrying that history get filed mentally under permanent potential rather than under active project. That filing was accurate for a long time.
The location compounds it. Southeast Greenland reads as a logistics impossibility to anyone who has not looked at the specifics, and the specifics, a support vessel, a functioning airstrip, heli-portable rigs and an engaged environmental consultancy, are exactly the kind of unglamorous detail that does not travel well in a headline. The metal mix compounds it again: a palladium-equivalent resource with gold and platinum credits does not slot cleanly into either a gold screen or a platinum group metals screen, so it tends to be missed by both.
What has actually happened since mid-July is a compliant technical report replacing an aging one, an indicated resource stepping up by roughly a third on that basis, and a fully mobilized field season with rigs turning. There are no assays yet and no economic study. It is the sequence a development-stage company has to complete before either becomes possible, and it has run in public, in order, inside four weeks.
Other companies to keep an eye on:
The companies below are producers and royalty holders, considerably larger, and are referenced to describe what the current metal price environment is doing to businesses that already have output. They are not peers, competitors or financial comparables of Greenland Mines, which has no production, no reserves and no revenue from mining.
Agnico Eagle Mines Limited (NYSE: AEM)
Agnico Eagle shows what today’s prices do to a well-run producer’s cash generation. Second-quarter 2026 payable gold production was 855,816 ounces at a realized gold price of US$4,483 per ounce, above budget for a second consecutive quarter. Net income was US$1.6 billion, or US$3.19 per share basic, with adjusted earnings of US$3.07 per share on revenue of US$3.8 billion.
Free cash flow reached a record US$1.34 billion and the company returned a record US$625 million to shareholders through dividends and buybacks, including US$400 million of repurchases. Total cash costs were US$1,054 per ounce and all-in sustaining costs US$1,459 per ounce. Net cash rose to US$3.27 billion. Full-year production guidance of 3.3 to 3.5 million ounces was maintained but is expected toward the low end after a July rock mass movement at the Barnat pit at Canadian Malartic rendered roughly 370,000 ounces temporarily inaccessible, with mining targeted to resume in the fourth quarter. Capital expenditure guidance was raised to US$2.6 to US$2.8 billion to fund construction at Hope Bay.
Newmont Corporation (NYSE: NEM)
Newmont is the largest gold producer in the world and reported record second-quarter free cash flow of US$2.2 billion on approximately 1.3 million attributable gold ounces, plus 17,000 tonnes of copper and 7 million ounces of silver. Cash flow from operations was US$2.9 billion and adjusted EBITDA US$3.8 billion, with adjusted net income of US$2.10 per diluted share.
The average realized gold price was US$4,414 per ounce, a 33% increase that substantially outpaced a 4% rise in costs applicable to sales. All-in sustaining costs were US$1,621 per ounce against a US$1,680 annual target. The company returned approximately US$1.9 billion to shareholders and has now repurchased more than 100 million shares since the program began. Full-year guidance of roughly 5.3 million attributable gold ounces was reaffirmed. Newmont also received regulatory approvals from British Columbia for the Red Chris Block Cave project, including an amended Environmental Assessment Certificate completed through a consent-based process with the Tahltan Nation.
Kinross Gold Corporation (NYSE: KGC)
Kinross reported attributable second-quarter production of 492,326 gold equivalent ounces with revenue up 29% to US$2,238.1 million, driven by a 37% increase in the average realized gold price to US$4,483 per ounce. Margin per gold equivalent ounce sold increased 42% to US$3,131.
Reported earnings were US$844.2 million, or US$0.71 per share, up 59% year over year, with attributable free cash flow of US$726.8 million and operating cash flow of US$1,145.9 million. Cash and cash equivalents rose to US$2.7 billion and net cash to US$1.9 billion. The company remains on track for full-year attributable production of 2.0 million gold equivalent ounces at an all-in sustaining cost of US$1,730 per ounce, and is targeting return of 40% of free cash flow to shareholders, with roughly US$615 million returned year to date.
Wheaton Precious Metals Corp. (NYSE: WPM)
Wheaton is included for a structural reason rather than an operational one. Streaming and royalty companies are among the natural sources of construction capital for development-stage deposits, which makes their appetite a live variable for any project heading toward an economic study. Second-quarter 2026 revenue was a record US$929 million, up 85% year over year, with net earnings of US$543 million and operating cash flow of US$650 million.
Attributable production rose 6% to approximately 202,200 gold equivalent ounces. Growth was driven in part by an expanded silver stream at Antamina, and the company added new streaming and royalty agreements covering the Jervois, Spanish Mountain and Cipango projects. It ended the quarter with roughly US$2.6 billion of available liquidity, reaffirmed 2026 production guidance of 860,000 to 940,000 gold equivalent ounces, and maintained a long-term outlook of roughly 1.2 million ounces by 2030. Shares rose sharply following the results presentation on August 7.
Track the Signals Before the Crowd
The best positioning happens before the crowd catches on. Eagle Eye is a real-time investor signal-intelligence platform that surfaces sentiment shifts, news flow, and trending tickers as they form, so you see attention building instead of chasing it. Watch it live at eagle-eye.dev.
Forward-Looking Statements
This article may contain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Statements regarding the objectives of the 2026 field program, the timing or completion of drilling, bulk sampling or metallurgical work, the potential upgrading of mineral resources, the advancement of the project toward an Initial Assessment, and any exploitation license application are forward-looking. Actual results may differ materially. Readers are referred to the forward-looking statements disclosure in the Company’s own releases and to its filings with the U.S. Securities and Exchange Commission at www.sec.gov.
Cautionary Note Regarding Technical Information and Mineral Resources
The mineral resource figures referenced in this article are drawn from the Company’s S-K 1300 compliant Technical Report Summary for the Skaergaard Project prepared by SLR Consulting (Canada) Ltd., with a mineral resource estimate effective July 3, 2026, which supersedes the November 2022 NI 43-101 technical report. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Inferred mineral resources carry a high degree of uncertainty as to their existence and whether they can be economically or legally mined, and it should not be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. No preliminary economic assessment, prefeasibility study or feasibility study has been completed on the Skaergaard Project, and an Initial Assessment has not been prepared. No production decision has been made and no economic viability has been demonstrated.
Drilling described in this article is in progress and assay results are pending. Visual observations of mineralization in drill core are not necessarily indicative of grade or metal content. Metal price assumptions used in a mineral resource estimate are fixed at the time of the estimate and do not track spot prices; references in this article to the current gold price are provided as general market context only and do not imply any change to the estimated value, viability or economics of the Skaergaard Project. Any exploitation license remains subject to application to and approval by the Government of Greenland, and no assurance can be given that any such license will be granted.
Referenced Companies
References to Agnico Eagle Mines Limited, Newmont Corporation, Kinross Gold Corporation and Wheaton Precious Metals Corp. are provided solely as market and sector context. Those companies are producers or royalty and streaming companies and are not peers, competitors, or financial comparables of Greenland Mines Ltd, which has no mineral reserves, no production and no mining revenue. Their results, production, costs and share performance are not indicative of Greenland Mines Ltd’s prospects. No partnership, affiliation, sponsorship, or endorsement is implied. SLR Consulting (Canada) Ltd., WSP Danmark A/S and Nordisk Fundering are service providers engaged by the Company and are not comparables.
Disclaimer
Nothing in this publication should be considered personalized financial advice. We are not licensed under securities laws to address your particular financial situation, and no communication from us should be deemed personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor a recommendation to buy or sell any security. We hold no investment licenses and are neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances.
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Sources
Greenland Mines Ltd, “Greenland Mines Arrives at Skaergaard, Commences Drilling as 2026 Field Season Moves into Full Operation,” August 11, 2026: https://www.juniorminingnetwork.com
Greenland Mines Ltd investor relations: ir.greenlandmines.com
Greenland Mines Ltd, WSP Danmark A/S environmental baseline engagement, March 19, 2026: https://www.barchart.com
Gold spot price data, August 11, 2026: tradingeconomics.com/commodity/gold
Second quarter 2026 results releases of the referenced companies as linked in the body of this article.
Contact
Energy Metal News
info@energymetalnews.com
Source: Energy Metal News
© 2026 GlobeNewswire, Inc.
Drilling Begins at One of the Largest Undeveloped Palladium-Gold-Platinum Deposits
Survey vessel M/V Byr returns safely to Iceland having covered more area with water depth data (bathymetry) than originally planned
High-resolution seabed data already used to safely anchor support vessel Argus within 500 meters of the western outcropping mineralized zone at Skaergaard
Data advancing toward official navigational charting and future shipping infrastructure planning for the Project’s next development phase
Initial HQ drill core supporting the metallurgical bulk sample successfully completed, with the program shifting to NQ-size core drilling from a newly established, fully operational core shack
SKAERGAARD, Greenland, Aug. 17, 2026 (GLOBE NEWSWIRE) — via IBN – Greenland Mines Ltd (“Greenland Mines” or the “Company”) (Nasdaq: GRML) is pleased to announce the successful completion of its 2026 bathymetric survey campaign at the Skaergaard Project in southeast Greenland, carried out by Icelandic Lagenes ehf using the expedition, research and survey vessel M/V Byr.
The vessel has returned safely to Iceland having covered more survey area than originally planned, with the acquired data verified and confirmed to meet the high-resolution technical specifications required under the survey contract.
M/V Byr, from Icelandic Lagenes ehf, was operated under the command of Sigurdur Jonsson, who has navigated the fjords of East Greenland for the past 25 years, and covered navigation route surveys and full multibeam coverage across Mikis Fjord, J.C. Jacobsen Fjord, Skaergaard Bugt and Uttendal Sund. Onboard the survey acquisition was overlooked by Survey Chief and Survey Engineer Lauri Aakko.
The value of this new dataset has already been demonstrated in practice: High-resolution bathymetric data was used to safely guide the Company’s support and operations vessel Argus to a new anchorage in Uttendal Sund, just 500 meters from the main initial operational area for the 2026 field season, located in the western part of the outcropping gold, palladium and platinum mineralized zone at Skaergaard.
“This is precisely the kind of foundational work that turns a promising deposit into a developable project,” said Dr. Bo Moller Stensgaard, president of Greenland Mines Ltd. “For the first time, we now have high-quality seabed data across the fjords surrounding Skaergaard, acquired to international survey standards and already put to direct operational use this season.
“This survey will help enable the Danish Geodata Agency to produce new, official navigational charts for the Skaergaard fjord system. In parallel, we will use the data to commission a dedicated navigational safety study for the Company, and it will underpin the infrastructure planning required for future large-scale shipping operations at Skaergaard, covering both the construction and, ultimately, the production phases of the project. This is a major stepping stone toward the next phase of Skaergaard’s development.
“At the same time, our drill campaign continues to build momentum. All HQ-diameter drill core supporting our planned metallurgical bulk sample has now been completed successfully by our contractor Nordisk Fundering A/S, and the program has shifted into NQ-size core drilling, supported by a newly constructed and fully operational core shack facility on site.“
Marine Survey: Scope, Results and Strategic Value
- Survey scope exceeded: The campaign, conducted using multibeam bathymetric system aboard M/V Byr, covered more survey area than originally planned under the charter, providing broader data coverage across Skaergaard’s approach fjords than initially scoped.
- Data quality confirmed: Acquired bathymetric data has been reviewed and confirmed to meet the high-resolution technical specifications required under the survey contract, providing the Company with a reliable, high-confidence dataset.
- Immediate operational value: Data was used to identify and safely execute a new anchorage for support vessel Argus in Uttendal Sund, within 500 meters of the western outcropping mineralized zone that is the focus of the 2026 field season’s initial drilling and bulk sampling activity.
- Supporting official navigational charts: Survey results are now undergoing further review and validation and are expected to support and inform the official production of new navigational charts for the Skaergaard fjord system by the Danish Geodata Agency (“Geodatastryrelsen” – GST). The Company will also commission a dedicated navigational safety study based on the survey findings.
- Foundation for future shipping infrastructure: This is the first time comprehensive seabed mapping data has been acquired across the fjords surrounding Skaergaard, providing a foundation to support planning for the large-scale marine shipping operations that will be required for both future construction and, ultimately, production activities at the Project.
Drill Program Update: Metallurgical Core Complete, Program Shifts to NQ
In parallel with the marine survey campaign, the Company’s 2026 drill program has reached an important milestone, with all HQ-diameter drill core required to support the planned multiton metallurgical bulk sample now successfully recovered by the contractor Nordisk Fundering A/S. Having completed this phase, the drill program has transitioned to NQ-size core drilling, the standard core diameter used for the resource definition and geotechnical drilling that will continue through the remainder of the season. A newly raised core shack facility, providing dedicated space for core logging, sampling and storage, has been completed and is now fully operational on site.
A Season Delivering on Multiple Fronts
Together, the successful completion of the marine survey campaign and the advancement of the drill program illustrate the breadth of the Company’s 2026 field season at Skaergaard, which spans resource definition drilling, metallurgical bulk sampling, environmental baseline studies, and the marine and infrastructure data required to support the Project’s advancement toward an Initial Assessment and its next phase of development.
About the Skaergaard Project
Skaergaard is one of the world’s largest undeveloped palladium, gold and platinum deposits, hosted in the Triple Group of the Skaergaard layered mafic igneous intrusion in southeast Greenland, approximately 400 km west of Iceland. The deposit benefits from deep fjord access and proximity to the existing Sødalen airstrip. Greenland Mines, through its subsidiary Major Precious Greenland A/S, holds an 80% interest in and option to acquire the remaining 20% of the three Mineral Exploration Licenses covering the Project and adjacent areas.
Skaergaard’s location on Greenland’s east coast is central to the Company’s long-term vision for a North Atlantic Critical Metals Corridor, anchored by upstream production at Skaergaard and potential downstream processing and logistics infrastructure in Iceland. In support of this vision, Greenland Mines holds a First Right of Refusal on the Helguvik industrial complex on Iceland’s Reykjanes Peninsula, a brownfield site with existing industrial infrastructure, deep-water port access and low-cost renewable grid power, located approximately 400 km by sea from Skaergaard.
About Greenland Mines Ltd
Greenland Mines Ltd is a Nasdaq-listed company with two operating divisions: (1) Mining, focused on the exploration and development of the Skaergaard Project in southeast Greenland and, subject to closing of the previously announced transaction, the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and (2) 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 select midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
Forward-Looking Statements
This press release contains forward‑looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward‑looking statements are often identified by words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “potential,” “could,” “may,” “will,” “should,” “estimate” and similar expressions. These forward-looking statements include, but are not limited to, statements regarding the intended use, validation and further processing of the bathymetric survey data; the anticipated production of navigational charts by relevant authorities; the Company’s plans to commission a navigational safety study; the potential role of the survey data in supporting future shipping and infrastructure planning for construction and production at Skaergaard; the scope, timing and results of the 2026 drill program, including the transition to NQ-size core drilling; and the Company’s plans to advance Skaergaard toward an Initial Assessment and its next phase of development. These statements involve known and unknown risks and uncertainties, including weather, logistical, permitting, regulatory and operational risks inherent to Arctic marine survey and field programs, that could cause actual results to differ materially from those expressed or implied. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update any forward-looking statement except as required by applicable law.
For further information:
Investor Relations
Greenland Mines Ltd | Nasdaq: GRML
Email: ir@greenlandmines.com
Website: www.greenlandmines.com
InvestorWire Service Contact:
IBN.Ai
Austin, Texas
www.IBN.ai
512.354.7000 Office
Editor@IBN.Ai
Attachments
- Skaergaard 2026 Campaign Map
- Fully Operational Core Shack
- HQ Core Logging
- XRF Measurements Conducted
- Greenland Mines Survey Work
Skaergaard 2026 Campaign Map
The bathymetry data surveyed during the Skaergaard 2026 campaign with outline of the Skaergaard Intrusion that hosts the Gold, Palladium and Platinum mineralization. The gravel air strip at Sødalen is also indicated. The coastal part near Mikis Hus in Mikis Fjord is considered one of the prime locations for future infrastructure for a mining operation at Skaergaard. IC Jacobsen Fjord is surveyed for its potential for a secondary safe anchoring site for larger vessels.
Fully Operational Core Shack
Greenland Mines’ newly established core shack facilities at Skaergaard.
HQ Core Logging
Greenland Mines Ltd. geologists doing HQ core logging from the mineralized Triple Group within the Skaergaard Gold, Palladium and Platinum deposit.
XRF Measurements Conducted
Greenland Mines Ltd. geologist doing handheld XRF measurements used for identifying the geochemical signature that can be used for mapping the geological units within the Triple Group from which the location of the Gold, Palladium and Platinum mineralized zones can be determined.
Greenland Mines Survey Work
Down-hole surveying conducted by the geophysical contractor Vanguard Geophysics on HQ holes beneath the Forbindelsesgletscher and beneath the cliff face that host the surface outcropping Gold, Palladium and Platinum mineralized zones of within the Triple Group within the Skaergaard Intrusion.
Source: Greenland Mines Ltd
© 2026 GlobeNewswire, Inc.
Greenland Mines Arrives at Skaergaard, Commences Drilling as 2026 Field Season Moves into Full Operation
Support vessel Argus anchored on site following smooth Denmark Strait crossing
Equipment and infrastructure successfully mobilized ashore with safety inductions completed across all operational teams
First drill rigs turning with initial holes expected complete within days
SKAERGAARD, Greenland, Aug. 11, 2026 (GLOBE NEWSWIRE) — via IBN – Greenland Mines Ltd (“Greenland Mines” or the “Company”) (Nasdaq: GRML) is pleased to announce that its support vessel Argus has arrived and anchored at the Skaergaard gold, palladium and platinum project in southeast Greenland, following a smooth crossing of the Denmark Strait. Drilling has now commenced as the Company’s 2026 field season moves into full operation.
Argus anchored close to shore, near the area identified for initial drilling and bulk sampling. Equipment, machinery, materials, and local onshore infrastructure were successfully slung from Argus to shore, and safety drills and inductions were completed across all parts of the operation before work began. The Company’s diamond drill rigs, supplied and operated by the drilling company Nordisk Fundering and including two new heli-portable units, have been assembled and are now running, with the first holes of the season expected to be completed within days.
“Arriving safely at Skaergaard and getting rigs turning is a defining moment for this season, and for the project,” said Dr. Bo Møller Stensgaard, President of Greenland Mines Ltd. “The crossing was smooth, the offload went exactly to plan, our safety inductions are complete, and drilling is now underway. Every step this summer builds toward the next phase of Skaergaard’s development, and this is where that work truly begins. I want to recognize the entire team on the ground and aboard Argus for the professionalism and care that went into getting us here safely and getting equipment ashore so efficiently. That is the foundation for a strong season.”
Operational Highlights Since Arrival
- Safe arrival and anchorage: Argus completed a smooth crossing of the Denmark Strait and is now anchored close to shore at Skaergaard Project, near the area targeted for the season’s initial drilling and bulk sampling.
- Full mobilization ashore: equipment, machinery, materials, and onshore infrastructure have been successfully transferred from Argus to the Skaergaard shoreline.
- Safety first: safety drills and inductions have been completed across all parts of the operation, consistent with the Company’s commitment to a safe, disciplined field season.
- Drilling underway: drill rigs from Nordisk Fundering, including two new heli-portable units, have been assembled and are operating, with the first holes of the season expected to be completed within days.
- Drone-based LiDAR survey work: initial LiDAR drone surveys have been completed, and the areas planned for blasting and bulk sampling later in the season have been outlined.
- Drill target definition advancing: approximately one-third of the season’s planned drill locations have been identified and marked in the field, with the remainder to follow as the program progresses.
- Sødalen airstrip confirmed operational: the Sødalen airstrip has been assessed and found to be in excellent condition, providing the Company with an efficient means of mobilizing and demobilizing crew and topic-specific experts over the coming two months by fixed-winged aircrafts, as well as an important safety component.
- Favorable field conditions: the team has been operating under sunny, warm conditions, supporting strong early-season progress.
A Season Built for the Next Phase of Skaergaard
The commencement of drilling marks the start of the operational core of the Company’s 2026 field program at Skaergaard, which is designed to support further upgrading of the Mineral Resource, advance metallurgical and engineering studies through bulk sampling, and generate the environmental, geotechnical and infrastructure data required to advance Skaergaard toward an Initial Assessment and its next phase of development. With Argus on site, equipment ashore, and drill rigs turning, the Company is positioned to execute a full and productive season across the coming two months.
About the Skaergaard Project
Skaergaard is one of the world’s largest undeveloped palladium, gold and platinum deposits, hosted in the Triple Group of the Skaergaard layered mafic igneous intrusion in southeast Greenland, approximately 400 km west of Iceland. The deposit benefits from deep fjord access and proximity to the existing Sødalen airstrip. Greenland Mines, through its subsidiary Major Precious Greenland A/S, holds an 80% interest in and option to acquire the remaining 20% of the three Mineral Exploration Licenses covering the Project and adjacent areas.
Skaergaard’s location on Greenland’s east coast is central to the Company’s long-term vision for a North Atlantic Critical Metals Corridor, anchored by upstream production at Skaergaard and potential downstream processing and logistics infrastructure in Iceland. In support of this vision, Greenland Mines holds a First Right of Refusal on the Helguvik industrial complex on Iceland’s Reykjanes Peninsula, a brownfield site with existing industrial infrastructure, deep-water port access and low-cost renewable grid power, located approximately 400 km by sea from Skaergaard.
About Greenland Mines Ltd
Greenland Mines Ltd is a Nasdaq-listed company with two operating divisions: (1) Mining, focused on the exploration and development of the Skaergaard Project in southeast Greenland and, subject to closing of the previously announced transaction, the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and (2) 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 select midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
Forward-Looking Statements
This press release contains forward‑looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward‑looking statements are often identified by words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “potential,” “could,” “may,” “will,” “should,” “estimate” and similar expressions. These forward-looking statements include, but are not limited to, statements regarding the scope, timing, progress and expected results of the 2026 field program; the anticipated completion of drill holes; the potential for resource growth and upgrade at Skaergaard; the timing and scope of bulk sampling, environmental, geotechnical and engineering studies; the continued operational use of the Sødalen airstrip; and the Company’s plans to advance Skaergaard toward an Initial Assessment and its next phase of development. These statements involve known and unknown risks and uncertainties, including weather, logistical, and operational risks inherent to Arctic field programs, that could cause actual results to differ materially from those expressed or implied. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update any forward-looking statement except as required by applicable law.
For further information:
Investor Relations
Greenland Mines Ltd | Nasdaq: GRML
Email: ir@greenlandmines.com
Website: www.greenlandmines.com
InvestorWire Service Contact:
IBN.Ai
Austin, Texas
www.IBN.ai
512.354.7000 Office
Editor@IBN.Ai
Attachments
- Drilling Begins
- First Core Meters From the 2026 Drill Campaign
- Wolfgang Maier in Front of Outcrop of Layering
- 2026 Program to Take Larger Bulk Samples
- Greenland Mines Ltd Geologists
- Safety Induction for the Greenland Mines Ltd Crew
Drilling Begins
First drill rig turning at Skaergaard 2026.
First Core Meters From the 2026 Drill Campaign
A hole drilled through the upper Middle Zone and upper part of the gold, palladium, platinum mineralized Triple Group of the 56-million-year-old Skaergaard intrusion. Visual observations of mineralization in drill core are not necessarily indicative of grade or metal content, and assay results are pending.
Wolfgang Maier in Front of Outcrop of Layering
Wolfgang Maier, Professor of Earth Sciences at Cardiff University, recognized as a leading global authority on magmatic ore deposits and layered mafic ultramafic intrusions in discussions with exploration geologists and consultants in front of an outcrop of the layering within the Skaergaard Intrusion.
2026 Program to Take Larger Bulk Samples
Inspection of former blasted mini-bulk sample from Skaergaard gold, palladium and platinum mineralized zone. Greenland Mines Ltd expects to take a planned, much larger multi-ton bulk sample during its 2026 program for metallurgical and processing studies.
Greenland Mines Ltd Geologists
Team surveying former cut channel sample profiles within the gold, palladium and platinum mineralized Triple Group of the Skaergaard intrusion.
Safety Induction for the Greenland Mines Ltd Crew
The Company’s support helicopter from Greenland Copter and support vessel Argus, of Icelandic operator IceTug Explorer, visible in the background.
© 2026 GlobeNewswire, Inc.
Greenland Mines Departs for Skaergaard – Expanded 2026 Program Targeting Next Phase of Development
Greenland Mines departs Reykjavik for Skaergaard as Argus sails with full 2026 field season fleet
40+ person expert team, complete drilling, bulk sampling and geophysical survey, with expanded Environmental and Engineering Program onboard
Survey vessel already on-site acquiring seabed data ahead of Argus’s arrival; full air and logistics network secured for the season
Program spans resource growth, environmental baseline, and engineering work to advance Skaergaard toward its next phase of development
CHARLOTTE, N.C., July 31, 2026 (GLOBE NEWSWIRE) — via IBN – Greenland Mines Ltd (“Greenland Mines” or the “Company”) (Nasdaq: GRML) is pleased to announce that Argus, the support vessel currently deployed for the Skaergaard Project, has departed Reykjavik, Iceland, bound for southeast Greenland, marking the official start of the Company’s 2026 field season.
Argus was loaded over recent days at a quay in central Reykjavik, adjacent to the headquarters of IceTug, with the full complement of drill rigs, geophysical survey equipment, machinery, drone survey systems, exploration support infrastructure, fuel, and environmental monitoring equipment required for the season’s program.
To start the season, the field team totals more than 40 topic experts, drillers and logistics personnel, with additional specialists scheduled to rotate into the program as the season progresses.
“This is the moment the whole season has been building toward,” said Dr. Bo Moller Stensgaard, president of Greenland Mines Ltd. “Argus is loaded, the team is aboard, and we are underway to Skaergaard with everything we need to have a great season — more than 40 experts, three drill rigs drilling, machinery and equipment for bulk-sample blasting and sampling and advanced geophysical survey equipment, aerial drones, and a fully resourced field logistics network, in a program that in our opinion is materially broader than anything that has been run at Skaergaard before.
“Beyond the drilling that will support further upgrading of the resource, we are running an extensive program of environmental, operational, geotechnical and engineering work and investigations this summer that is specifically designed to move Skaergaard into its next phase of development. Everything is lined up. We are ready.”
Season Logistics: Sea, Air and Advance Survey Support
The 2026 field season is supported by a comprehensive, multilayered logistics network built for the scale and pace of this year’s program:
- Argus, the Company’s purpose-equipped support vessel for this stage of the season, boasts large accommodation capacity and a helideck, and is transporting the full complement of drill rigs, geophysical equipment, bulk-sampling machinery, drone survey equipment, exploration infrastructure, fuel and environmental monitoring equipment from Reykjavik to Skaergaard, where it will remain anchored as the season’s primary offshore logistics and accommodation hub.
- A dedicated advance survey vessel, MS Byr, has already arrived at Skaergaard and has begun acquiring seabed and coastal mapping data across the fjord approaches. While Argus has visited the Skaergaard fjords on prior expeditions, this is the first season supported by this level of advance survey data, which is being used to identify a safe, optimal anchoring location near the area of primary drilling and operational focus for the early part of the season. This mapping data will also be central to planning future mine infrastructure.
- Besides geophysical equipment for advanced down-hole measurements and televiewing capabilities, the season’s survey program includes ground-penetrating radar, aerial drone magnetic, LiDAR and photogrammetric surveys, and additional aerial photogrammetric survey work.
- A dedicated air support network, provided by GreenlandCopter A/S, an experienced operator based in Tasiilaq — the nearest large town, approximately 400 km south of Skaergaard — together with scheduled fixed-wing connections via the airstrip at Sodalen, adjacent to the Skaergaard licence area, will provide reliable personnel transport and logistics support throughout the season.
- Additional topic experts will rotate into the program over the course of the summer, supported by this vessel-based and airstrip-based logistics network.
This fully resourced, multi-layered logistics structure reflects the scale and ambition of the 2026 program and is designed to maximize safe, efficient working days in the field.
A Program Built for the Next Phase of Skaergaard
The 2026 field season is the most comprehensive program undertaken at Skaergaard to date, and has been structured to deliver on multiple fronts simultaneously:
- Resource drilling and geophysics: targeted drilling and geophysical surveys designed to support upgrading of the Skaergaard Mineral Resource, building on the updated 2026 Mineral Resource Estimate reported under the Company’s recently completed S-K 1300 Technical Report Summary.
- Bulk sampling: collection of bulk samples to support metallurgical test work and pilot plant-scale process development.
- Environmental baseline studies: an expanded environmental monitoring and surveying program, one of the first work streams to be initiated upon Argus’s arrival at Skaergaard, building on environmental baseline work already underway with WSP Denmark.
- Geotechnical and engineering studies: data collection to support mine engineering and infrastructure planning as the Company advances toward an Initial Assessment for Skaergaard.
- Drone and topographic surveying: aerial survey work to refine surface and structural models across the deposit, including the northern plateau area and the western front of the Forbindelses Glacier.
Taken together, the season’s work program extends well beyond resource definition. It is designed to generate the operational, environmental and engineering data needed to advance Skaergaard toward its next phase of development, including evaluation of a potential initial open-pit mining scenario for near-surface mineralization, alongside the underground mining concepts already captured in the Company’s Mineral Resource Estimate.
About the Skaergaard Project
Skaergaard is one of the world’s largest undeveloped palladium, gold and platinum deposits, hosted in the Triple Group of the Skaergaard layered mafic igneous intrusion in southeast Greenland, approximately 400 km west of Iceland. The deposit benefits from deep fjord access and proximity to the existing Sodalen airstrip. Greenland Mines, through its subsidiary Major Precious Greenland A/S, holds an 80% interest in and option to acquire the remaining 20% of the three Mineral Exploration Licences covering the Project.
Skaergaard’s location on Greenland’s east coast is central to the Company’s long-term vision for a North Atlantic Critical Metals Corridor, anchored by upstream production at Skaergaard and potential downstream processing and logistics infrastructure in Iceland. In support of this vision, Greenland Mines holds a First Right of Refusal on the Helguvik industrial complex on Iceland’s Reykjanes Peninsula, a brownfield site with existing industrial infrastructure, deep-water port access and low-cost renewable grid power, located approximately 400 km by sea from Skaergaard. Together, Skaergaard’s geostrategic position on the North Atlantic shipping corridor between Europe and North America, and the potential Helguvik hub, underpin the Company’s ambition to build a vertically integrated, western-aligned critical metals platform anchored in close North Atlantic collaboration between Greenland and Iceland.
About Greenland Mines Ltd
Greenland Mines Ltd is a Nasdaq-listed company with two operating divisions: (1) Mining, focused on the exploration and development of the Skaergaard Project in southeast Greenland and, subject to closing of the previously announced transaction, the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and (2) 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 select midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
FORWARD-LOOKING STATEMENTS
This press release contains forward‑looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward‑looking statements are often identified by words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “potential,” “could,” “may,” “will,” “should,” “estimate” and similar expressions. These forward-looking statements include, but are not limited to, statements regarding the scope, timing and objectives of the 2026 field program; the potential for resource growth and upgrade at Skaergaard; the evaluation of open-pit and underground mining scenarios; the timing and scope of environmental, geotechnical and engineering studies; and the Company’s plans to advance Skaergaard toward an Initial Assessment and its next phase of development. These statements involve known and unknown risks and uncertainties, including weather, logistical, and operational risks inherent to Arctic field programs, that could cause actual results to differ materially from those expressed or implied. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update any forward-looking statement except as required by applicable law.
For further information:
Investor Relations
Greenland Mines Ltd | Nasdaq: GRML
Email: ir@greenlandmines.com
Website: www.greenlandmines.com
Attachments
- Argus Sails With Full 2026 Field Season Fleet
- M/S Byr, at the approach to Mikis Fjord, just east of Skaergaard.
- The MS Byr is a Dedicated Advance Survey Vessel
- The Argus in Reykjavik
- Loading the Argus
- Argus, the Company’s Purpose-Equipped Support Vessel
- Greenland Mines Departs Reykjavik for Skaergaard
Argus Sails With Full 2026 Field Season Fleet
The entire crew at departure for the Skaergaard in front of Argus. Photo by Stüker Foto & Video.
M/S Byr, at the approach to Mikis Fjord, just east of Skaergaard.
The captain onboard M/S Byr, the vessel carrying out the bathymetry survey, is very experienced with sailing in East Greenland and has had many expeditions to Skaergaard and the fjords surrounding the project.
The MS Byr is a Dedicated Advance Survey Vessel
Bathymetric data acquisition onboard M/S Byr.
The Argus in Reykjavik
Drill rigs and equipment being loaded onto Argus in Reykjavik. Photo by Stüker Foto & Video.
Loading the Argus
Field equipment being loaded into the hull of Argus.
Argus, the Company’s Purpose-Equipped Support Vessel
Equipment being craned onboard Argus in Reykjavik.
Greenland Mines Departs Reykjavik for Skaergaard
Final check of drill rigs before departure for Skaergaard.
Source: Greenland Mines Ltd
© 2026 GlobeNewswire, Inc.
Biotech Division of Greenland Mines Announces Issuance of Patent in Canada for the Klotho Gene Therapy Platform Technology for Alzheimer’s and Aging
CHARLOTTE, N.C., July 23, 2026 (GLOBE NEWSWIRE) — via IBN – Greenland Mines Ltd (Nasdaq: GRML) (“Greenland Mines” or the “Company”) announces that its Board of Directors has approved the adoption of a limited-duration stockholder rights plan, effective July 22, 2026, to protect the interests of the Company and its stockholders.
The Board adopted the rights plan to ensure that all stockholders receive full and fair value in connection with any proposal to acquire the Company or any effort to obtain control of the Company. The rights plan is intended to protect stockholders from coercive or otherwise unfair takeover tactics, including the accumulation of a control or blocking position through open-market purchases or derivative positions without payment of an appropriate control premium, and to provide the board with time to make informed decisions in the best interests of the company and its stockholders. The rights plan is effective immediately and will expire in one year.
The rights plan leaves open all paths to create stockholder value
Dr. Joseph Sinkule, Chairman and Chief Executive Officer, commented: “The Board is committed to acting in the best interests of all Greenland Mines stockholders. The rights plan safeguards stockholders’ ability to receive appropriate value for their investment and ensures that the Board has adequate time to evaluate any proposal or accumulation of shares in a thoughtful and orderly manner. It does not prevent the Board from considering or accepting an offer that the board determines is fair and in the best interests of stockholders.”
About the rights plan
Pursuant to the rights plan, the company will issue, by means of a dividend, one right for each outstanding common share of the company to stockholders of record as of the close of business on August 7, 2026. Initially, the rights will not be exercisable and will trade with, and be represented by, the company’s common shares.
The rights plan is effective immediately and has a one-year duration, expiring on July 22, 2027, unless earlier redeemed or exchanged by the board, or earlier terminated if stockholder approval of the rights plan has not been obtained at the company’s 2027 annual meeting of stockholders.
Under the rights plan, the rights generally become exercisable only if a person or group (each, an “acquiring person”) acquires beneficial ownership of 15% or more of the outstanding common shares. In that situation, each holder of a right (other than the acquiring person and its affiliates, associates and certain transferees, whose rights will become null and void and will not be exercisable) will be entitled to purchase, at the then-current exercise price of $0.75 per right, additional common shares of the company having a market value of approximately two times the exercise price — effectively a 50% discount to the then-current market price. In addition, if the company is acquired in a merger or other business combination, or more than 50% of its consolidated assets or earning power is sold, after a person or group becomes an acquiring person, each holder of a right will be entitled to purchase, at the then-current exercise price, shares of the acquiring company’s common stock having a market value of approximately two times the exercise price.
For purposes of calculating beneficial ownership under the rights plan, certain synthetic interests created by derivative positions are treated as beneficial ownership of the number of common shares equivalent to the economic exposure created by the derivative security, whether such shares would be deemed beneficially owned under federal securities laws.
The Board may, at its option, exchange each right (other than rights owned by an acquiring person that have become void), in whole or in part, at an exchange ratio of one common share per outstanding right, subject to adjustment. The board may also redeem the rights at $0.0001 per right at any time prior to a person or group becoming an acquiring person.
If a person or group beneficially owned 15% or more of the outstanding common shares prior to the company’s announcement of the adoption of the rights plan, that person’s or group’s existing ownership position is grandfathered, although, with certain exceptions, the rights will become exercisable if at any time after the announcement such person or group increases its ownership of common shares by 0.20% or more of the outstanding common shares.
The rights plan is similar to plans adopted by numerous other publicly traded companies. The adoption of the rights plan is not intended to prevent, and will not prevent, any offer or acquisition proposal that the board determines to be fair, advisable and in the best interests of the company’s stockholders.
Additional details regarding the rights plan are contained in the Registration Statement on Form 8-A filed by the company with the U.S. Securities and Exchange Commission on July 23, 2026, and in a Current Report on Form 8-K dated July 23, 2026.
ABOUT GREENLAND MINES LTD
Greenland Mines Ltd is a Nasdaq-listed company with two operating divisions: (1) Mining, focused on the exploration and development of the Skaergaard Project in southeast Greenland and, subject to closing of the previously announced transaction, the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and (2) 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 select midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “believe,” “anticipate,” “intend,” “expect,” “estimate,” “could,” “should,” “outlook,” “guidance,” and similar references to future periods. Forward-looking statements in this press release include, among others, statements regarding the intended effects, duration and operation of the rights plan. Forward-looking statements are neither historical facts nor assurances of future performance and are based only on management’s current beliefs, expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and changes in circumstance that are difficult to predict and many of which are outside of the company’s control, and actual results may differ materially from those indicated in the forward-looking statements. Important factors that could cause actual results to differ materially include, among others, the factors described in the “Risk Factors” section of the company’s most recent Annual Report on Form 10-K and subsequent filings with the SEC. Any forward-looking statement made in this press release speaks only as of the date on which it is made, and the company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
Investor Contact and Corporate Communications:
ir@greenlandmines.com
Website:
www.greenlandmines.com
Source: Greenland Mines Ltd
© 2026 GlobeNewswire, Inc.
This Greenland Rare Earth and Precious Metals Company Just Put Up a Takeover Defense, and It Says Something About How It Views Its Own Value
About Greenland Mines Ltd.
Greenland Mines Ltd. (Nasdaq: GRML) is a Charlotte, North Carolina-based company that, as of March 2026, controls one of the largest undeveloped palladium, gold, and platinum deposits on earth — the Skaergaard Project in Southeast Greenland. The company was formerly known as Klotho Neurosciences, Inc. and completed the acquisition of privately held Greenland Mines Corp. on March 4, 2026, simultaneously rebranding and beginning trading under the GRML ticker on March 12, 2026. Through that acquisition, the company holds an 80% interest in — and an 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 million ounces of palladium equivalent (PdEq) and 23.5 million ounces of gold equivalent (AuEq) across 364 million tonnes of mineralized rock. At February 2026 metal prices — gold near $3,000/oz, palladium at $1,800/oz, and platinum at $2,175/oz — the gross undiscounted in-situ resource value calculates to approximately $68 billion. The company’s current market capitalization is approximately $47 million.
The company now operates two divisions. The primary and defining division is Natural Resources, focused on the exploration and development of the Skaergaard Project. The secondary division is Cell and Gene Therapy, inherited from Klotho Neurosciences, which includes KLTO-202 — a gene therapy platform using a Klotho-based approach to treat ALS and other neurodegenerative diseases, along with a licensed generic drug portfolio and biosimilar biologics platform targeting cancer. The Skaergaard acquisition was structured as a reverse merger — Greenland Mines Corp. is expected to own approximately 93% of fully diluted shares on an as-converted basis — making this effectively a brand new company brought to market inside an existing Nasdaq shell. The Skaergaard Project has been studied since its discovery in 1935, with academic and institutional work conducted by Cambridge University, Caltech, and the Geological Survey of Denmark. More than $30 million has been invested in the project since the 1990s, and SLR Consulting completed a formal NI 43-101 Technical Report in 2022. The institutional awareness of the company under its new identity, however, is essentially zero: zero sell-side analysts cover the stock, and many data platforms still show the old company name.
The Skaergaard Resource: Scale, Composition, and Expansion Target
The numbers at Skaergaard are hard to contextualize at first read. The 2022 NI 43-101 resource of 25.4 million ounces PdEq and 23.5 million ounces AuEq is distributed across 364 million tonnes of rock — a deposit geometry that reflects the bulk, disseminated nature of mafic intrusion-hosted PGM-gold mineralization. The resource is approximately 73% platinum group metals (palladium and platinum) and 27% gold by value. Importantly, none of the $68 billion gross in-situ value figure accounts for mining recoveries, metallurgical losses, capital costs, operating costs, royalties, or taxes — standard disclosure caveats that investors must take seriously. No preliminary economic assessment, pre-feasibility study, or feasibility study has been completed, and there is no certainty that mineral resources will be converted to mineral reserves or that an economically viable mining operation can be established. These are material risks that any investor must internalize before committing capital.
What Greenland Mines is targeting with its 2026 development program goes beyond simply confirming the existing resource. The company has identified geological targets it believes could double the contained resource to approximately 50 million ounces of gold, palladium, and platinum — expanding into areas of the Skaergaard Intrusion not fully captured in the 2022 estimate. Vanadium and gallium, both critical to defense electronics and next-generation energy storage, have also been identified within the broader Skaergaard mineralization and are being evaluated for potential inclusion in updated resource estimates. The appointment of GTK Mintec to handle metallurgical and processing flowsheet work — running in parallel with the geological work by SLR and the environmental baseline program by WSP — reflects the multi-disciplinary technical assembly that a project of this scale requires before any economic study can be initiated (Greenland Mines news releases, March–April 2026).
Geopolitical Context: Why Greenland, Why Now
The timing of Greenland Mines’ emergence as a public company cannot be separated from one of the most active geopolitical storylines of 2026: U.S. strategic interest in Greenland’s mineral wealth. The Trump administration’s public statements about acquiring Greenland — widely covered in late 2024 and throughout 2025 — reflect a deeper and more durable reality: Greenland sits at the intersection of the North Atlantic shipping corridor, is positioned between North America and Europe, and holds mineral resources that Western governments are actively seeking to secure outside of Chinese and Russian supply chains. Greenland’s government has aligned itself increasingly with Western mineral development interests, and its regulatory framework — administered through the Greenland Mineral Resources Act — is considered transparent and investor-friendly. There are no Chinese entanglements in the Skaergaard license, no third-party royalties encumbering the project, and the license holder is an Allied jurisdiction.
Bo Møller Stensgaard, who leads the Natural Resources division as President, has spent more than 25 years working in Greenland geology, beginning his career with the Geological Survey of Denmark and Greenland in 1998. He was the first scientist to assess a Greenland area using combined geological, geophysical, and geochemical datasets — a methodological integration that is now standard practice — and he has noted that Greenland’s surface exposure of mineralization makes it an unusually accessible geological environment compared to most exploration frontiers. His description of Greenland as “an open textbook and a natural laboratory for geology” reflects both his technical affinity for the island and his conviction that the Skaergaard deposit’s surface accessibility is a meaningful development advantage relative to deeply buried or structurally complex deposits in other jurisdictions (InvestorNews, April 2026).
2026 Field Season: What Is Actually Happening on the Ground
The 2026 field season at Skaergaard is the first concrete development activity under Greenland Mines’ ownership, and the company has moved decisively to assemble the infrastructure required to execute it. The most operationally significant announcement to date is the chartering of M/V Argus — a dedicated Arctic icebreaker with Class A1 Super ice capability, accommodation for 40–50 personnel, a certified helicopter deck, and aviation fuel storage — from IceTugs ApS for the full duration of the field campaign. The vessel will serve as the primary offshore logistics hub, transporting drill rigs, supplies, fuel, and personnel from Reykjavík, Iceland, to Mikis Fjord adjacent to the Skaergaard site, and integrating helicopter operations directly from the ship to access the surrounding project area. Securing M/V Argus is not a trivial logistical accomplishment: President Stensgaard noted that there are very few vessels of comparable ice class, capacity, and Arctic track record available in the North Atlantic, and competition from scientific and commercial operators is intense (Greenland Mines News Release, March 26, 2026).
On the technical side, SLR Consulting — engaged April 27, 2026, as geological consultant and Qualified Person — brings critical continuity: SLR prepared the 2022 NI 43-101 and already has detailed knowledge of the Skaergaard geological model and existing resource. SLR’s scope covers resource definition, drill and bulk-sample planning, mine planning, metallurgy, and processing flowsheet work, with a site visit planned for late August or early September 2026. WSP Danmark A/S is concurrently advancing the Environmental Impact Assessment baseline program — covering environmental, biological, and hydrological surveys across the project area — which is a prerequisite for the exploitation license application. GTK Mintec is leading metallurgical and processing flowsheet and pilot test work. The combination of SLR, WSP, and GTK Mintec constitutes an unusually capable and experienced advisory team for a company at GRML’s current market capitalization.
EXCHANGE:
NASDAQ
Symbol: GRML
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