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Energy Transition Minerals Says Greenlandic Government Declines Subsidiary's Request to Extend Exploration License; Shares Hit 1.5-Year Low

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Energy Transition Minerals (ASX:ETM) said the Greenlandic Government declined a request by the company's Greenland Minerals subsidiary to extend exploration license 2010/02, covering the Kvanefjeld project, according to a Monday filing with the Australian bourse.

The decision was made after Greenland Minerals was given 48 hours to respond to geological assessments, and its request for a one-week extension was denied, the filing said.

The ruling does not affect the company's ongoing legal proceedings regarding the treatment of its interests in Greenland, per the filing.

Shares fell 21% in midday trade Monday and earlier reached their lowest since December 2024.

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