Shares of Greenland Mines Ltd. fell 19% on Thursday after the company disclosed a 1-for-50 reverse stock split to comply with Nasdaq’s minimum bid price requirement.
The board approved the split, which will reduce the outstanding share count from approximately 158.9 million to roughly 3.2 million. The adjustment is scheduled to take effect on August 24, 2026, at 12:01 a.m. ET. Trading will resume under the same ticker symbol, GRML, with a new CUSIP number, beginning at the start of that day’s session.
The company operates two projects in Greenland. At the Skaergaard project in East Greenland, crews completed initial blasting for a bulk sample from gold and palladium-platinum mineralized zones, supporting metallurgical and processing studies. Combined drone LiDAR and photogrammetry surveys are ongoing across the mineralized zones.
An updated Mineral Resource Estimate published in July 2026 showed the Indicated Palladium Equivalent grade rose 36% and contained ounces increased 31% compared with the 2022 estimate. The project’s Indicated Mineral Resources now total approximately 7.6 million ounces of palladium and 3.2 million ounces of gold.
At the Sarfartoq project in West Greenland, a neodymium-praseodymium rare earth project, a geological and structural mapping program is planned for September, pending completion of a previously announced acquisition. WSP Denmark is conducting the second year of environmental baseline investigations at the site.
