Greenland Resources eyes US exchange listing after US-Denmark deal

By Reuters News

Sept 21 (Reuters) - Greenland Resources MOLY.TO said on Monday that it was evaluating uplisting to a major US exchange.

The move follows a defense agreement among Greenland, Denmark and the United States, which the company believes could improve investment certainty for the region's mineral sector.

  • Shares of Greenland Resources soared 11.5% to C$1.84

  • The company said it has binding long-term supply agreements with steelmakers Outokumpu and SSAB, while its feasibility study assumes a molybdenum price of $18 per pound versus current market price of about $33.

  • The company currently trades on the Toronto Stock Exchange and over the counter in the US. It did not identify a potential US exchange or provide a timeline for the proposed listing.

  • Other US-listed shares tied to Greenland also surged, with rare earth miner Critical Metals CRML.O jumping 34.5% to $9.05; the company co-owns a majority stake in the Tanbreez rare earths project.

  • Shares of critical minerals developer Greenland Mines GRML.O more than tripled to $9.99, while oil explorer Greenland Energy GLND.O, which is focused on the Jameson Land Basin in East Greenland, more than doubled to $2.99.

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