(Alliance News) - GreenX Metals Ltd on Friday said it was making progress at its ARC licence project after survey results showed high copper purity, while litigation proceedings continue against the Polish government.

GreenX Metals is a Perth, Australia-based metals exploration company focused on developing the Arctic Rift Copper project in Greenland.

In the three months ended September 30, GreenX continued with its exploration work to acquire up to 80% of the ARC copper project in Greenland.

ARC is a large-scale project of 5,744 square-kilometres, where historical exploration results and recent studies suggest the presence of an extensive mineral system containing world-class copper deposits.

In August, analysis of copper samples from the site showed high copper purity of over 99%.

Despite adverse weather conditions in Greenland, which affected access to the site, the GreenX was able to make a visit to the licence during the period, delivering key exploration equipment. It said this would make operations more efficient in the next field season.

In other news, international arbitration claims against Poland under both the Energy Charter Treaty and the Australia-Poland Bilateral Investment Treaty continued.

The company has filed a revised GBP737.0 million compensation claim, which includes an updated assessment of the value of GreenX's lost profits and damages at the Jan Karski and Debiensko mines.

GreenX said Warsaw breached bilateral treaties by blocking its investment in the two coal mines. The next step in the arbitration process is for the hearing to be conducted in front of a tribunal.

The company's cash balance at 30 September consisted of AUD4.2 million, around GBP2.3 million, for the funding of activities at ARC, as well as AUD7.4 million, around GBP4.1 million, for the continuing arbitration against Poland.

GreenX shares closed 2.7% higher at 16.43 pence each in London on Friday.

By Holly Beveridge; hollybeveridge@alliancenews.com

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