Eclipse’s immediate job is to convert potential into drill bit evidence. This month’s diamond program is set to probe deeper parts of the carbonatite and priority anomalies beneath and beyond the shallow work that framed the initial resource. With port access at Grønnedal/Kangilinnguit and refurbished camp utilities, the program is targeting efficient metre rates and rapid core handling. Eclipse will then feed the results into both resource upgrades and the next round of metallurgy.
Zooming out, the timing is helpful. Western governments are pushing to onshore the mine‑to‑magnets chain as geopolitics turns the screws on critical minerals. In July, Apple committed US$500 million (A$758 million) to US‑made rare earth magnet production through MP Materials in Texas, while the Pentagon took a sizeable equity position to accelerate American magnet capacity, signalling policy‑backed demand for a secure Nd/Pr supply.
Europe is moving to formalise strategic projects under its Critical Raw Materials Act, including third‑country supply partnerships to diversify away from single‑nation risk. Against that backdrop, Greenland has returned to the conversation. It is an allied jurisdiction with deep‑water access, a mining history at Ivigtût and a geological address that caught headlines when Washington mused about the island’s strategic value.
For Eclipse, that macro matters because Grønnedal is weighted to what the magnet market needs in a location aligned with buyers. The licence is secure to 2027 with a mapped permitting path. Drilling is contracted and mobilising and the treasury has been topped up to keep the work program moving. The next catalysts are straightforward: spudding in October, steady updates from the field and the first wave of core‑based metallurgy to test those liberation numbers at bench-scale.
If the metres confirm continuity at depth and keep the Nd/Pr percentages fat, Eclipse will have the ingredients for a resource upgrade and a clearer runway into study work in 2026. For now, the rigs are on the road, the fjord is open and the rare earths narrative is blowing a tailwind up the valley.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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