GreenlandMines NASDAQ GRMLInvestor presentationRare by
Rare by
nature.
Developing Greenland’s rare earths and precious metals for the industries that depend on them.
46Pd79Au78Pt60Nd59Pr
GreenlandMines NASDAQ GRML
GreenlandMinesGreenland / The strategic settingArctic security / Industrial resilienceAn Arctic position.
Established role September 22, 2026
An Arctic position.
A wider industrial significance.
Greenland sits between Europe and North America. Its established security role and mineral potential place it within a shared strategic conversation.
Pituffik Space Base
Missile warning, missile defense, and space surveillance: existing missions that illustrate Greenland’s North Atlantic importance.
+Security cooperation
The United States, Greenland, and Denmark signed an agreement reinforcing Arctic and North Atlantic cooperation.
+Industrial resilience also depends on resources, processing, and trusted partners.+
Agreement entry into force is subject to national parliamentary procedures. Strategic context does not establish a government award or defense contract for Greenland Mines.
GreenlandMinesRare-earth supply / China · 2024Supply concentration across the chainA global industry.
A global industry.
A concentrated supply.
More diverse mineral sources are part of the answer. Resilient supply also requires separation, refining, and magnet manufacturing capacity.
01
Mining
Extracting magnet rare-earth minerals.
02
Refining
Separating and refining them into usable materials.
03
Magnets
Manufacturing sintered permanent magnets.
Source: IEA, 2024 data. Mining and refining cover magnet rare earths Nd, Pr, Dy, and Tb. Magnet manufacturing measures sintered permanent magnet production. Each figure measures a separate stage; the percentages are not additive.
GreenlandMinesNorth Atlantic Critical Metals Corridor / Company strategyResources / Processing / Industrial marketsGreenlandic resources.
Greenlandic resources.
A transatlantic strategy.
Greenland’s mineral potential sits between two major industrial markets. The North Atlantic Critical Metals Corridor is Greenland Mines’ strategy for developing that opportunity with trusted partners across Europe and North America, while creating lasting value in Greenland.
- 01Greenland / Resources
Advance the
mineral projects.Sarfartoq provides the magnet rare-earth resource base; Skaergaard adds palladium, platinum, and gold. Technical programs are focused on resource evaluation, metal recovery, and the studies needed to advance development.
+ - 02Europe / Processing
Establish
processing pathways.Neo’s shareholding and retained Sarfartoq offtake rights provide an existing commercial relationship with a European processor. The next work is to establish how future project material can meet processing requirements and agree definitive supply terms.
+ - 03Allied markets / Industry
Develop
customer relationships.Industrial customers need material that meets defined specifications and can be delivered reliably. Product qualification, logistics, and customer agreements are essential to turning a mineral resource into a commercial supply route.
+
Across the chain
Infrastructure Technology Capital Greenlandic participation
Development strategy, subject to technical results, approvals, financing, and commercial agreements. Neither project has a production decision; EU Strategic Project status applies to Neo’s Silmet 2.0.
GreenlandMinesThe portfolio / Nasdaq: GRMLOne company. Two geological systems.Precious metals.
Precious metals.
Magnet rare earths.
01 Southeast Greenland
Skaergaard
Pd / Au / PtA large layered intrusion hosting palladium, gold, and platinum. Historical drilling and the completed 2026 field program support the next phase of resource evaluation and processing studies.
80%
Company interest.
Option for the remaining 20%.
Next phase
+Processing testwork and an Initial Assessment following the completed 2026 field program.1, 2
02 Southwest Greenland
Sarfartoq
Nd / PrNeodymium and praseodymium are central to the permanent magnets used in many electric drives and precision systems. Sarfartoq combines a defined rare-earth resource with a strategic relationship with Neo.
100%
Company interest.
Neo’s retained offtake rights apply.
Strategic connection
+Neo Performance Materials holds offtake rights to up to 60% of future ore or mineral concentrate.3
The common thread
Decades of geological work. Defined mineral resources.
A focused next phase of technical studies.
GreenlandMinesThe project atlas / GreenlandTwo coasts / Distinct geologyTwo coasts.
WESTNd / Pr+
EASTPd / Au / Pt+
Two coasts.
Distinct geology.
Sarfartoq’s rare-earth carbonatite lies in southwest Greenland. Skaergaard’s palladium–gold–platinum intrusion lies on the southeast coast.
Sarfartoq
Magnet rare earths in a carbonatite complex. 100% company interest. Neo retains offtake rights.
66.520° N · 51.350° WSkaergaard
Palladium, gold, and platinum in a layered intrusion. Greenland Mines holds 80%, with an option for the remaining 20%.
68.182° N · 31.669° W
SarfartoqMagnet rare earths
SkaergaardPrecious metals
GreenlandMinesThe work already behind the projectsResearch / Drilling / Technical studiesDecades of work.
Decades of work.
A substantial foundation.
Successive programs have built the geological knowledge that the next phase draws upon.
Skaergaard
42,050m93 historical diamond drill holes
1989–2021
- 1930s
Scientific study
Early expeditions established a long-running geological research record.
- 1986–2021
Mineral exploration
Successive owners added drilling, assays, mapping, and metallurgical studies.
- 2026
Further fieldwork
Another 4,480 m in 17 holes, reported after the July resource estimate.
Sarfartoq
23,094m94 holes supporting the
July 2026 ST1 estimate
- 1970s–1980s
Mapping the complex
Geological Survey fieldwork combined mapping with airborne and ground surveys.
- 2009–2012
Rare-earth exploration
Hudson added drilling, sampling, and bench-scale metallurgical work.
- 2023–2026
Updating the evidence
Infill drilling and renewed testwork informed the updated resource evaluation.
Sarfartoq’s full project database: 161 holes / 35,843 m. The ST1 estimate uses the 94-hole subset above.
Selected milestones; intervals are not to scale. Historical studies provide context, not current economic conclusions. Resources are not reserves.
GreenlandMines02 / SarfartoqNeodymium / Praseodymium / Magnet rare earthsThe materials
The materials
behind the magnet.
Indicated6.9Mt
At 1.60% TREO
+Inferred5.341Mt
At 0.96% TREO
+ST1 · Hybrid scenario · Effective July 31, 2026.
TREO: total rare-earth oxides.3
A connection to the supply chain
Neo Performance Materials
Strategic shareholder with rights to up to 60% of future ore or mineral concentrate, creating a potential connection to European processing.3
01
Completed / September 2026
Fieldwork & sampling
Geological mapping, outcrop surveys, and rock sampling. Assays were pending at the September 24, 2026 update.4
02
Planned / Technical priorities
Resource confidence & recovery
Planned infill drilling, pilot metallurgy, engineering, and environmental studies will support the work toward pre-feasibility.3
SarfartoqA defined resource. A focused program.GreenlandMinesSarfartoq / Neo Performance MaterialsAn existing relationship / A potential processing pathwayA resource in Greenland.
A resource in Greenland.
A relationship in Europe.
Geographic relationship · schematic connection
+Neo’s retained offtake rightsUp to60%Of future Sarfartoq ore
Of future Sarfartoq ore
or mineral concentrate.
Neo is a Greenland Mines shareholder and an established rare-earth processor. Its Silmet facility separates rare earths for downstream use.
Definitive offtake terms, processing compatibility, and future supply remain to be established.
+Why Silmet 2.0 matters
The plan adapts Neo’s Estonian facility for new raw-material sources. EU Strategic Project status, awarded October 9, 2026, applies to Silmet 2.0. Sarfartoq is a potential future feedstock source.
+GreenlandMinesSarfartoq / Initial AssessmentST1 / Effective July 31, 2026An economic framework.
Pre-tax NPV / 8% real discount rate
+ Pre-tax NPV / 8% real discount rate
+
An economic framework.
A basis for the next studies.
The Initial Assessment models a nine-year operation. Base and high-case sensitivities show the importance of prices, costs, and geological confidence.
Including Inferred resources
Base caseUS$1.257bn
High-case sensitivityUS$2.053bn
| After-tax NPV₈ · US$m | 897 | 1,502 |
|---|---|---|
| Pre-tax IRR | 68.7% | 118.6% |
Excluding Inferred resources
Base caseUS$0.879bn
High-case sensitivityUS$1.489bn
| After-tax NPV₈ · US$m | 605 | 1,074 |
|---|---|---|
| Pre-tax IRR | 66.0% | 117.5% |
High-case assumptions: prices +15%, operating costs −15%, and capital costs −20% versus base. Low-case pre-tax NPV₈: US$401m including Inferred / US$209m excluding Inferred. NPV is discounted project cash flow, not company value.
Preliminary assessment, not a feasibility study. No mineral reserves. Resources do not demonstrate economic viability. Inferred material has greater geological uncertainty; there is no certainty it will be upgraded or that assessment results will be realized.
GreenlandMinesSarfartoq / Development programDefined resources / Preliminary assessment / Next studiesA defined resource.
01 02 03
A defined resource.
The next level of detail.
A preliminary Initial Assessment and updated resource provide the starting point for the next phase of Sarfartoq’s development studies.
Build the geological evidence.
2026 mapping, sampling, and environmental baseline work add to the existing resource record. Infill drilling is planned to improve geological confidence.
+Test recovery and processing.
Pilot metallurgical work will evaluate recovery and concentrate characteristics. Those results inform a future processing pathway.
+Define the development pathway.
Engineering, infrastructure, and environmental studies will support work toward pre-feasibility, alongside regulatory and community engagement.
+The next study stage
Resource confidence, recovery, and engineering must be evaluated together. No production decision has been made.
Assays were pending at the September 24, 2026 update. Planned programs remain subject to technical results and approvals.
GreenlandMines01 / SkaergaardPalladium / Gold / PlatinumPrecious metals.
Precious metals.
Remarkable scale.
A large, layered intrusion with defined palladium, gold, and platinum resources. New field data and recovery studies build on that foundation.
Indicated15.00Moz
Palladium equivalent
+Inferred17.49Moz
Palladium equivalent
+100% project basis · Effective July 3, 2026 · 80% company interest.1
| Resource category | Metric tons | PdEq grade | Contained Pd / Au / Pt |
|---|---|---|---|
| Indicated | 153.6 Mt | 3.04 g/t | 7.57 / 3.19 / 0.60 Moz |
| Inferred | 177.5 Mt | 3.07 g/t | 7.75 / 4.28 / 0.60 Moz |
PdEq combines metals using the report’s price and recovery assumptions; it is not palladium alone.
GreenlandMinesSkaergaard / 2026 field programFieldwork completed / Reported October 1, 2026The fieldwork is complete.
01 02 03
The fieldwork is complete.
The next questions are technical.
4,480m
Diamond drilling
17
Completed holes
>100t
Bulk material collected
Resource evaluation
Assess new drill data alongside the geological model. The July resource estimate predates this field program.
+Processing testwork
Bulk material supports recovery testing and flowsheet development, including planned work with GTK in Finland.
+Initial Assessment
Integrate resource, processing, engineering, and environmental inputs into the next study stage.
+The 2026 program included geotechnical, LiDAR, and geophysical work, and a first environmental baseline field season. Completed fieldwork does not establish a reserve or production decision.
GreenlandMinesMaterials / Industrial applicationsMotion / Emissions control / Electrical performanceInside the component.
Nd · Pr Pd · Pt Au
Inside the component.
Into everyday life.
Move the machine.
Permanent magnets can deliver compact power in electric motors. Not all electric-drive designs use rare-earth magnets.
Sarfartoq / Magnet rare earthsTransform the exhaust.
Catalytic surfaces help convert harmful exhaust gases. This application is associated with combustion engines.
Skaergaard / Palladium & platinumProtect the connection.
Gold-plated contact surfaces resist corrosion in demanding electronic and aircraft connector applications.
Skaergaard / GoldApplication context, including aerospace and defense, not company products, customers, or current supply. Designs and material specifications vary; not all electric motors use rare earths.
GreenlandMinesAnorTech / Strategic equity investmentAnorthosite / Materials researchA strategic interest.
01 02 03
A strategic interest.
A wider materials opportunity.
AnorTech’s Gronne Bjerg project hosts anorthosite, a plagioclase-rich rock being investigated for alumina and other industrial materials.
Existing interest9.9%
Target on closing19.9%
The additional option was exercised on October 5, 2026. Completion remains subject to exchange acceptance and customary closing conditions. Assets and technology remain with AnorTech.
Alumina
Laboratory research is moving toward pilot testing. Fifteen metric tons of anorthosite were shipped to Ontario for pilot preparation.
+Industrial materials
Research pathways include refractory and printable cement applications. Technical work is needed to establish performance and economics.
+Lunar analogs
Earth-based simulants and construction-material research extend the material’s testing applications; no lunar deployment is established.
+GreenlandMinesCorporate platform / CapitalCapital for the next phaseCapital for
01 02 03
Capital for
the next phase.
Capital raised / Reported September 29, 2026US$59m+
Raised over the preceding week, according to the company’s financing announcement.
Capital raised is not a current cash balance.NASDAQ GRMLFRANKFURT HK6
Project execution
Exploration, metallurgical, and engineering work across the Greenland portfolio.
+Technical milestones
The company stated that financing supports its planned programs and 2027 milestones.
+Public-company governance
Blair Jordan and Peter Love joined the board in the September announcement, adding finance and mining experience.
+GreenlandMinesLeadership / CorporateCorporate leadershipCorporate leadership
01 02 03
Corporate leadership
Financial and technical direction.
Dr. Joseph Sinkule
Chief Executive Officer & Chairman
An executive whose experience spans company formation, product development, commercialization, and capital raising. His background is in life sciences and corporate financing. As Chief Executive Officer and Chairman, he leads Greenland Mines' corporate platform alongside its natural-resources team.
Bo Møller Stensgaard, Ph.D.
President
An economic geologist with more than 20 years in resource development across Europe and the Arctic. His Greenland work began in 1998. A former GEUS senior research scientist and listed-company leader, he brings experience in technical studies, permitting, stakeholder engagement, and European raw-materials policy.
Jeffrey LeBlanc
Chief Financial Officer
More than 20 years in financial operations, investing, and business development. His career includes Greenlight Capital, GE Capital, and McKinsey, and co-founding Winvest Acquisition Corp. He holds an MBA from Harvard Business School and a chemical engineering degree from MIT.
GreenlandMinesLeadership / Technical & GreenlandTechnical expertise / Local knowledgeGeological depth
01 02 03 04
Geological depth
Experience on the ground.
Dr. Gustavo Delendatti
Vice President, Exploration
A geologist with more than 25 years of global exploration experience. His work includes Sayona Mining's Authier lithium project and Exeter Resource's Caspiche copper-gold project in Chile. At Skaergaard, he leads technical work supporting resource evaluation and development.
Jakob Kløve Keiding, Ph.D.
Chief Geologist
An economic geologist whose Aarhus University doctorate studied the Skaergaard intrusion. Formerly a mineral-intelligence leader at GEUS, he combines research on magmatic systems with more than a dozen Greenland field seasons, including exploration work at both Skaergaard and Sarfartoq.
Hans Jensen
Country Manager, Logistics & Studies
More than 30 years living and working in Greenland. His experience spans Arctic field campaigns, remote camps, infrastructure, and complex logistics. He has coordinated environmental, social, and feasibility studies while working with authorities, consultants, and local stakeholders.
Robert Møller
Permitting & Community Manager
A Greenlandic executive based in Nuuk, with experience in logistics, fisheries, mining consultancy, and stakeholder relations. His work connects resource projects with Greenlandic authorities and communities through government liaison, regulatory engagement, and local knowledge.
GreenlandMinesThe next chapterCompleted work / Next technical decisionsThe next catalysts.
The next catalysts.
The decisions they enable.
Work completed in the field now feeds the next technical decisions. These are the milestones to follow.
SarfartoqAdvance toward
Advance toward
pre-feasibility.
In placeUpdated resource, Initial Assessment, and 2026 fieldwork.
Next catalystsAssay integration, infill drilling, scaled metallurgy, and engineering.
+SkaergaardDefine the
Define the
development case.
In place4,480 m of drilling and more than 100 metric tons of bulk samples.
Next catalystsDrill-data evaluation, GTK recovery testwork, and an Initial Assessment.
+Corporate platformBuild the
Build the
commercial pathway.
In placeSeptember financing and Neo’s strategic relationship.
Next catalystsProgress project programs, processing pathways, and customer qualification.
+Next-stage objectives; completion dates have not been announced. Advancement depends on technical results, approvals, funding, and execution.
GreenlandMinesTechnical notes / Investor informationRead alongside the original disclosuresTechnical basis.
Technical basis.
Investor information.
Resources are not reserves
Mineral resources do not demonstrate economic viability. Inferred material has greater geological uncertainty than Indicated material. Categories are reported separately; equivalent-metal figures are not payable metal or production forecasts.
Skaergaard / consistent basis
SLR Technical Report Summary, July 13, 2026; resource effective July 3, 2026. Resource figures are on a 100% project basis; company interest is 80% plus an option for the balance. PdEq = Pd + 2.258 × Au + 1.048 × Pt (g/t).
Sarfartoq / consistent basis
Hybrid open-pit / underground scenario, effective July 31, 2026. GeoSim / Tetra Tech Mineral Resource Estimate. TREO means total rare-earth oxides. Agricola’s 2026 Initial Assessment is preliminary; see its scenarios, assumptions, and cautions.
Development and transactions
Future studies, supply arrangements, processing routes, transactions, and production depend on results, approvals, counterparties, market conditions, financing, and execution. No production decision is implied for either principal project.
PdEq assumptions
Gold US$3,500/oz; palladium US$1,725/oz; platinum US$2,100/oz. Recoveries: Au 89%, Pd 86%, Pt 80%; NSR cut-off US$84/t. These assumptions belong to the July resource estimate, not a valuation or price forecast.
Applications and imagery
Material uses do not establish company products, manufacturers, customers, or government endorsement. AnorTech owns its assets and technology. NASA landscapes are geographic context; company project photos retain their original context.
Investor relationsir@greenlandmines.com