Greenland Mines (NASDAQ: GRML) announced that independent consultant SLR Consulting (Canada) Ltd. has completed the first U.S. Securities and Exchange Commission S-K 1300-compliant Technical Report Summary for the Skaergaard project in southeast Greenland. The report features an updated 2026 Mineral Resource Estimate effective July 3, 2026, which shows a 31% increase in indicated contained palladium equivalent (PdEq) metal to 15.0 million ounces, a 36% boost in indicated grade to 3.04 g/t PdEq, and a 24% increase in inferred contained PdEq metal to 17.49 million ounces compared with the project’s 2022 resource estimate.
The company attributed the upgraded resource to improved geological modeling and updated metal price assumptions, including gold at $3,500 per ounce. The new estimate provides the regulatory foundation to advance toward an Initial Assessment under S-K 1300. Greenland Mines also noted that its 2026 field program is underway with drilling, bulk sampling, engineering, environmental, and geotechnical work designed to support evaluation of both open-pit and underground mining scenarios at the Skaergaard project.
The significance of this announcement lies in the substantial increase in both the quantity and grade of the resource, which enhances the project's economic viability. The Skaergaard project is a key asset for Greenland Mines, which operates through two divisions: Mining, focused on exploration and development of the Skaergaard project and, subject to closing of a previously announced transaction, the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and Biotech, including Klotho’s KLTO‑202 primary indication for ALS.
The company’s strategy is centered on building a multi-asset platform with exposure to rare earth magnet materials, precious metals, and selected midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure. This resource upgrade positions Greenland Mines to potentially become a significant supplier of palladium and other metals, which are critical for various industrial applications including automotive catalytic converters and electronics.
For investors and industry observers, the updated resource estimate under S-K 1300 compliance provides a more reliable and standardized basis for evaluating the project's potential. The ongoing field program will further refine mining scenarios and could lead to a preliminary economic assessment, moving the project closer to development. The inclusion of gold at $3,500 per ounce in the metal price assumptions reflects current market conditions and supports the resource's value.
Forward-looking statements in the announcement emphasize that actual results may differ materially due to risks and uncertainties, including those detailed in the company's SEC filings. The full press release is available at https://ibn.fm/qqEBp, and further updates can be found in the company's newsroom at https://ibn.fm/GRML.
