Greenland Mines authorizes $20M share buyback after $59M capital raise

Greenland Mines Ltd (NASDAQ: GRML; FSE: HK6) said its board of directors has authorized a $20 million share repurchase program, following the company's recent capital raise of more than $59 million.

Under the authorization, the Charlotte, N.C.-based critical minerals developer may repurchase shares of its outstanding common stock through open-market transactions or other permissible methods, including trading plans established under Rules 10b5-1 and 10b-18. The timing and amount of any repurchases will depend on market conditions, share price, liquidity requirements and project funding needs. The authorization does not obligate the company to repurchase any specific amount and may be modified, suspended or discontinued at any time.

The company said it plans to fund work at its Sarfartoq and Skaergaard mineral projects in Greenland through targeted 2027 milestones, while maintaining capacity for share repurchases. Capital allocation priorities include drilling, technical studies, metallurgy, environmental programs and permitting, as well as evaluating strategic investments and partnerships.

"Our priority remains disciplined investment in Sarfartoq and Skaergaard," said Bo Møller Stensgaard, president of Greenland Mines. "At the same time, we believe our own shares may represent a compelling use of capital at certain valuations."

Greenland Mines holds the Skaergaard precious-metals project in southeast Greenland and the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland. The company also holds a strategic investment in AnorTech, which is developing alumina and other materials from Greenland anorthosite.

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