European Energy Metals Rebrands as Grit Metals
European Energy Metals Corp. has officially changed its name to Grit Metals Corp. following a resolution approved by the board of directors on October 18, 2024. The name change took effect on October 30, 2024, and the company’s common shares will commence trading under the new name at the market opening on November 4, 2024, retaining the trading symbol "FIN." The new CUSIP is 39868L102, and the new ISIN is CA39868L1022.
Grit Metals Corp. is a junior mining company focused on the Lithium-Cesium-Tantalum Finnish Pegmatite Project in central Finland. The exploration licenses for this project are located within 1 kilometer of the Keliber mine and production complex, which is currently under construction and expected to begin production in the second half of 2025. The company benefits from supportive legislation from both European and Finnish authorities aimed at environmentally friendly and energy-independent supply chains, emphasizing the importance of rare earth elements like lithium.
In the Kautinen Region, Keliber's parent company, Sibanye-Stillwater Limited, in partnership with the Finnish Minerals Group, is investing approximately €600 million to develop open-pit and underground mining operations. The investment includes constructing a central spodumene concentrator and a lithium hydroxide chemical plant in Kokkola, creating a comprehensive hard-rock spodumene pegmatite lithium supply chain.
Grit Metals Corp. also holds several 100% owned precious metals projects in Northern Finland, within the Paleo-Proterozoic Greenstone Terrane. This region includes multiple greenstone belts such as the Central Lapland Greenstone Belt (CLGB), which hosts significant deposits like the Kittila gold deposit (owned by Agnico Eagle) and the Ikkari gold deposit (owned by Rupert Resources). The area also contains base metal deposits like Kevitsa (owned by Boliden) and Sakatti (owned by Anglo American). Interest in the belt has surged recently, driven by Rupert Resources' offer to acquire B2Gold's 70% interest in a joint venture with Aurion Resources for \$102 million. This joint venture area, located near the Ikkari Deposit, contains numerous gold prospects along an extensive structural corridor, highlighting the region's potential.
