GreenX Metals announces arbitration success

GreenX Metals (ASX:GRX) has achieved a significant milestone by winning an arbitration award of approximately A$490 million against the Republic of Poland. This stems from breaches under international treaties related to its Jan Karski mining project. The company plans to distribute most of the awarded funds to shareholders, following deductions for costs and taxes.

GreenX Metals' strategic plans and future outlook

GreenX Metals Limited has reported substantial progress in its September 2024 Quarterly Activities Report. The company successfully secured an arbitration award of A$490 million against Poland due to treaty breaches. GreenX plans to return a significant portion of this compensation to its shareholders after covering costs and taxes. Additionally, GreenX is advancing its exploration efforts with agreements to acquire stakes in the Tannenberg Copper Project in Germany and the Eleonore North Gold Project in Greenland. The company is focused on expanding its resource base and exploring new mineral opportunities. With a cash balance of A$6 million as of September 30, 2024, GreenX is poised for continued growth and exploration activities. The future work will involve reviewing historical data, conducting geophysical surveys, and drilling at the Tannenberg Copper Project, while collaborating with GEUS for further exploration at Eleonore North. This strategic direction underscores GreenX's commitment to enhancing shareholder value and expanding its resource portfolio.

Executive commentary on arbitration success

'GreenX intends to return most of the compensation to shareholders after settling arbitration-related expenses and taxes.'