The GreenX Metals Ltd (ASX: GRX) share price is in focus after the company released its June 2026 quarterly activities report, highlighting the announcement of a significant copper exploration target at the Tannenberg Copper Project in Germany, and the start of fieldwork at the Eleonore North project in Greenland.
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What did GreenX Metals report?
- Announced an Exploration Target at Tannenberg: 144 to 279 million tonnes at 0.9% to 1.4% copper and 15 to 21 g/t silver, equating to 1.3–3.9 Mt copper and 69–188 Moz silver (conceptual).
- Completed early-stage mineralogy and processing study confirming Tannenberg mineralisation is amenable to conventional flotation, similar to major Polish Kupferschiefer mines.
- Ongoing fieldwork at Eleonore North (Greenland), targeting gold, tungsten, and antimony, with new high-priority targets identified using modern hyperspectral imaging.
- Singapore International Commercial Court rejected Poland's application to set aside a ~$480 million compensation award to GreenX, reaffirming the company's rights under the Energy Charter Treaty.
- Closed the June quarter with cash and equivalents of $13.4 million, reporting $685,000 spent on exploration during the quarter.
What else do investors need to know?
GreenX's key development during the quarter was the Tannenberg exploration target, which demonstrates the project's large copper-silver potential using modern geological understanding. Independent studies suggest that the Tannenberg mineralisation is well suited to established processing routes, while new technologies may improve future recoveries.
At Eleonore North, in Greenland, a range of modern exploration tools are being applied. Fieldwork this season is focused on confirming drill targets for tungsten, antimony, and gold, and bulk sampling is underway to support preliminary metallurgical test work.
Legal proceedings relating to compensation from the Polish government are progressing, with the Singapore court siding with GreenX. Interest on the award continues to accrue while further legal action is under review in UK courts.
What did GreenX Metals management say?
Chief Executive Officer Ben Stoikovich said:
Our team is excited by the scale and quality of the Tannenberg Exploration Target, which puts GreenX in a strong position as we move into active exploration. The mineralogy and processing results give us confidence that Tannenberg could follow the successful path of similar European copper mines.
What's next for GreenX Metals?
GreenX plans to move from archive data analysis to on-ground exploration at Tannenberg, including scoping-level metallurgical studies, seismic surveying, and an initial drill program expected later this year. At Eleonore North, bulk sample analysis and assay results are anticipated in the coming months, guiding future drilling plans.
The company also continues to defend its legal awards regarding compensation in relation to its Polish investments and will keep the market updated on progress and outcomes.
GreenX Metals share price snapshot
Over the past 12 months, GreenX Metals has risen 17%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 1%.
