Alba Mineral Resources Plc has provided an update on its investee company, GreenRoc Mining Plc, which has confirmed the positive results of the Preliminary Economic Assessment (PEA) for its Amitsoq Graphite Project in southern Greenland. The PEA was completed by independent consulting firm SLR Consulting Ltd and confirms the robust economics of the project. The PEA highlights include a pre-tax net present value of US$235 million, an internal rate of return of 31.1%, and a 22-year life of mine with potential for resource expansion. The project has a 4-year payback period on capital from the start of production and an average net revenue of US$89.8 million per year throughout the life of mine. The initial capital cost is estimated at US$131 million, with an average operating cost of US$121 per tonne of milled ore. The project is expected to produce an average of 77,000 tonnes of concentrate per year at a minimum grade of 94%. The mine plan focuses on the Lower Graphite Layer, leaving resources from the Upper Graphite Layer available for future production expansion or extension to the life of mine. GreenRoc is also working on developing processing capabilities to upgrade its graphite concentrate production into anode material for electric vehicle batteries. The company believes that Amitsoq has the potential to become a key source of high purity spherical graphite for the European car industry.