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Amaroq Minerals Ltd. reports developments tied to its Greenland-focused gold and strategic metals portfolio. The company is an independent mine development corporation whose principal asset is a 100% interest in the Nalunaq Project, an advanced exploration-stage property with an exploitation license that includes the previously operating Nalunaq gold mine.
Recurring AMRQ news includes exploration results, drilling and geophysical work, project development plans, financial results, capital-structure updates, shareholder voting matters, governance disclosures, and market-listing communications. Company updates also cover strategic mineral targets such as the Stendalen nickel-copper project and broader activity across Amaroq's mineral land package in Southern Greenland.
Amaroq Minerals Ltd. announces market-making agreements with Arion Bank and Landsbankinn for its Icelandic depositary receipts listed on the Nasdaq First North Market.
Arion Bank will receive ISK 3,750,000 quarterly, effective from October 30, 2022, while Landsbankinn will get ISK 1,500,000 quarterly, valid until November 1, 2023. Both agreements can be terminated with prior written notice and do not involve performance factors or compensation in common shares. As of now, Arion Bank and Landsbankinn own approximately 1.84% and 0.21% of Amaroq's common shares, respectively.
Amaroq Minerals Ltd. released its 2022 exploration results from Nalunaq, revealing a record drill grade of 116 g/t Au over 0.62m. A total of 46 diamond core drillholes were completed, with a 92% success rate confirming the geological model. The results indicate the potential expansion of the Valley Block and suggest low-cost access to resources in the Mountain Block. The upcoming 2023 exploration will include a bulk sample to enhance the Mineral Reserve estimate and demonstrate revenue potential.
Amaroq Minerals Ltd. announced on December 6, 2022, that Livermore Partners LLC, managed by Non-Executive Director David Neuhauser, purchased 76,000 common shares, increasing its total holdings to 14,415,924 shares, representing 5.48% of the company’s capital. The shares were acquired at an average price of US$ 0.6 per share. The transactions occurred on December 2 and 3, 2022, on the TSXV stock exchange.
Amaroq Minerals Ltd. (AMRQ) released its Q3 2022 financial results, highlighting a significant progress in its exploration and development activities in Greenland. The total inferred mineral resource at Nalunaq is reported at 355.0Kt @ 28.0g/t Au, equivalent to 320Koz of gold. The company allocated C$11 million for exploration and development in 2022. A £30 million capital fundraising was completed, and initial funding of £18 million is expected from the joint venture with ACAM in Q1 2023. The net loss was C$7 million for Q3, with cash reserves down to C$11 million.
Amaroq Minerals Ltd. (AIM:AMRQ)(TSXV:AMRQ)(NASDAQ:AMRQ) announced the settlement and admission of 31,979,652 common shares related to the UK Placing and Canadian Subscription. The settlement is expected to occur on November 3, 2022, following previous announcements on October 19 and 20, 2022. Amaroq holds significant mineral assets covering 7,866.85 km² in Southern Greenland, including the advanced-stage Nalunaq Project. The company aims to explore and develop gold and strategic metal properties in the region.