GreenRoc Mining PLC (AIM:GROC) opened 8% higher after the company said it expects an exploitation licence for its Amitsoq Graphite Project in South Greenland in the first half thanks to recent changes in the island's mining laws.
These legal modifications are expected to streamline the process, potentially allowing GreenRoc to secure the licence by year-end.
This development is seen as a significant step towards securing finance for the project.
Additionally, GreenRoc is expanding its exploration licence in South Greenland to include significant graphite mineralisation areas near Amitsoq not already licensed to the company.
After a strong opening, shares in GreenRoc settled back to 1.86p, up 1%.