Amaroq Minerals Share Discussion Threads

[loganair] 16/6/2024 21:55

Development activities at the Nalunaq project in Greenland are progressing well with trial mining expected to commence at Mountain Block in H2 2024 and Target Block in H1 2025. The initial mining rate target is 40-60 tonnes per day, ramping up to 130-150 tonnes per day at each block during H2 2025.

First gold pour is expected during Q4 2024.

Plant recoveries are expected to increase from commencement of production to target levels of 90-94% by the end of 2025.

Remaining cash outlay for the gravity and flotation plant is C$25-30m in Q3 2024, C$2.5m in Q4 2024 and C$6m in H1 2025.

[petewy] 31/5/2024 09:16

"copper and molybdenum body at Target West supports mineral potential of South Greenland Copper Belt" report
Hi Hazl

[philby1] 23/5/2024 06:53

Some very encouraging comments from the Shareprophets subscription site two days ago. They believe the shares are a buy at current prices.

Amaroq Minerals – Q1 2024 results and report, a winning share tip Buy.

Amaroq Minerals (AMRQ) has issued its quarterly results and report including emphasising on Nalunaq “highly encouraged by how operations are progressing” and that also “progress on new growth opportunities within South Greenland, including Strategic Minerals, Hydro and Servicing are progressing well and we look forward to providing an update to the market in due course, during or before the Capital Markets Day”. So that is further good news from a 69p share price.

[waldron] 23/5/2024 06:43

Written by:
Emily Jarvie
Edited by:
Angela Harmantas

Amaroq Minerals ends 1Q with healthy cash reserves to advance Nalunaq

Published: 14:59 14 May 2024 BST

Amaroq Minerals Ltd - Amaroq Minerals advances Nalunaq gold project in Q1

Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ) took steps to accelerate mining at its Nalunaq gold project in Greenland during the first quarter of 2024.

The company raised approximately $74.52 million in February to accelerate mining of the Target Block at the Nalunaq mine to maintain the processing plant’s current nameplate capacity of 300 tonnes of ore processed per day in 2025.

Funds will also be used for the extension of the process plant to include a flotation circuit and dry-stack tailings facility.

“During the quarter we successfully completed a fundraise to accelerate mining at Nalunaq, whilst continuing to invest in our wider gold and strategic minerals portfolio in South Greenland,” Amaroq CEO Eldur Olafsson said in a statement.

The company has also been preparing for a “busy” 2024 field season, which will include a targeted mineral resource growth plans at Nalunaq and copper-nickel-cobalt drilling at Stendalen among other project development programs.

"I have been on site at Nalunaq now for some weeks, participating across all workstreams, and am highly encouraged by how operations are progressing,” Olafsson commented.

“The experience gained this winter, in our first year of year-round operations, has been invaluable to improving our understanding and planning for developing future projects in South Greenland. Construction works over this period were completed despite pack ice conditions, thanks to the foresight of the team who ensured that all the required equipment was mobilized to site ahead of time.”

Olafsson intends to provide the market with a further update on operations at Nalunaq during a June 13 Capital Markets event being held in Iceland, where the company will present visuals of the progress made to date and provide guidance on the cost to complete as well as the expected date of first gold production.

“In addition, we will present our plan for resource growth at Nalunaq, along with details of our expanded drilling programme at the Stendalen copper-nickel discovery,” he said.

"Finally, progress on new growth opportunities within South Greenland, including Strategic Minerals, Hydro and Servicing are progressing well and we look forward to providing an update to the market in due course, during or before the Capital Markets Day.”

The company exited the first quarter with group liquidity of $96.31 million in cash balances, undrawn revolving credit facilities, and undrawn revolving credit overrun facility less trade payables.

Amaroq's gold business capital was reported to be $78.2 million as of March 31, with around $17.47 million of this capital allocated for prepaid contractors specifically for the Nalunaq project.

Net loss during Q1 was $9.2 million.

Amaroq Minerals is an independent mine development company with a substantial land package of gold and strategic mineral assets in Southern Greenland.

[waldron] 23/5/2024 06:21

Annual Report and Notice of Meeting

TORONTO, ONTARIO – May 17, 2024 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mine development company with a substantial land package of gold and strategic mineral assets in Southern Greenland, announces that it has posted its Annual Report and Financial Statements for the year ended December 31, 2023 and Notice of Annual and Special General Meeting of Shareholders (“Meeting”) and Management Information Circular to shareholders.

Copies of the documents are published on the Company's website at and the documents will also be available on SEDAR+ at www.sedarplus.ca.

The Meeting will be held remotely on Friday, June 14, 2024, at 10:00 a.m. (Toronto time).


Registered shareholders and duly appointed proxyholders will be able to participate, vote and submit questions at the virtual meeting. Instructions on how to join the virtual meeting are set out in the Notice of Meeting.

[waldron] 23/5/2024 06:15

Amaroq Minerals loss widens; appointment of new CFO advanced

May 17, 2024 at 09:52 pm

Amaroq Minerals Ltd - Greenland-focused Canadian gold miner - On Tuesday, reports results for first quarter ending March. Net loss widens to USD9.2 million from USD3.4 million a year prior. Loss per share widens to USD0.03 from USD0.01. Exploration and evaluation expenses fall to USD875,213 from USD1.2 million. But general and administrative expenses rise to USD4.0 million from USD2.6 million. Chief Executive Eldur Olafsson says: "I look forward to providing the market with a more complete update on Nalunaq operations at our Capital Markets event on June 13, where we will present visuals of the progress made to date and providing guidance on the cost to complete as well as the expected date of first gold production. In addition, we will present our plan for resource growth at Nalunaq, along with details of our expanded drilling programme at the Stendalen copper-nickel discovery." Says appointment of new chief financial officer is "well advanced."

Current stock price: 73.00 pence

12-month change: up 78%

By Jeremy Cutler, Alliance News reporter

Comments and questions to [e-mail]

[waldron] 23/5/2024 06:13

SEEMS TO NEED POSITIVE NEWS AND MORE COVERAGE BY ANALYSTS

IMO MORE LIKELY TO TREND DOWN SINCE RESULTS OUT DESPITE POSITIVE TARGETS STILL

[dudishes] 24/4/2024 01:30

done, nice win, for me, gone, catch you later.

[dudishes] 01/3/2024 17:40

Still a holder, but no gold eh?

[dudishes] 01/3/2024 08:01

Sore head hazl?

Why pick on loganair? AMRQ, he is correct, KEFI funding perceived but not yet in place. 50% correct. Much better than your picks what?

AMRQ massive rise since 40p.

SOLG 50% loss in 6 months.

CUSN 50% loss.

QED, SOLG, CUSN all wishful thinking?

If SOLG not for this board, why finish off with a ramp of SOLG?

Dud

[hazl] 29/2/2024 11:36

This board is not about SOLG.
Last post in the matter.
I was just alerting people.

SOLG however has several substantial major shareholders and is taken by some to be a potential take over play.

[loganair] 29/2/2024 11:08

hazl - Amaroq and KEFI are basically fully funded to get at least one of their mines into operation which will provide each company with an income back stop to carry on exploring elsewhere whereas Solgold needs £20miln new funding in just the next 3 months to keep itself a float, let a lone a couple of billion to get it's first mine built all at a time when liquidity for the mining exploration sector has all but dried up.

[hazl] 29/2/2024 10:33

Again, I am also liking the look of KEFI and AMRQ but not bought yet.
As an aside I would say don't trust loganair.
He claims to be in SOLG too.

'loganair
28 Feb '24 - 10:25 - 71 of 75
0 1 0
I'm in both Amaroq and KEFI. What I like about both is how they're basically funded to get their prospective mines into operations and the cost to do so is not too highly prohibitive unlike say Solgold and their Cascabel project is.'

[metis20] 29/2/2024 08:26

TORONTO, ONTARIO - January 29, 2024 - Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mine development corporation with a substantial land package of gold and strategic mineral assets across in Southern Greenland, is pleased to announce a significant new Ni-Cu discovery at its Stendalen Project.

[loganair] 28/2/2024 15:53

I've just spent an hour looking at AAU and I considered a small investment was worth while.

I just wished I had bought more Amaroq then I did when the share price was around 30p.

[philby1] 28/2/2024 15:27

Amaroq Minerals gears up for gold production later this year.

Amaroq Minerals Founder & CEO Eldur Olafsson shares insights on hitting targets, staying on budget and being fully funded in the latest interview with IGTV.

[philby1] 28/2/2024 14:28

I'm holding both AMRQ and KEFI too loganair. Also holding Ariane Resources (AAU)for the same reasons with gold production starting at the new Salinbas mine in Turkey later this year.

[loganair] 28/2/2024 10:25

I'm in both Amaroq and KEFI. What I like about both is how they're basically funded to get their prospective mines into operations and the cost to do so is not too highly prohibitive unlike say Solgold and their Cascabel project is.

[dudishes] 28/2/2024 01:33

Late today phil,
bit of difference of opinion Kefi.

Lay in today, no issue

[dudishes] 27/2/2024 18:38

I forgot philby1,

I was up at 4am to make breakfast for the kids who fed the donkeys.

Carrot treats for the donkeys.

Pancakes for the girls.

Pop around some time for breakfast

[dudishes] 27/2/2024 18:33

philby1, I forgot to ask whether you were long/short?

Weems that Tim W and I are the only longs?

[dudishes] 21/2/2024 06:32

G'day philby1,

I'm a bit late today, arose at 5am our time as had to feed the donkeys etc...

The youngsters were busy picking veg for the Wed market.

veg picking not too good for me, drawback, I got wet, the kids being under cover did not.

[philby1] 20/2/2024 15:39

"Amaroq's steady ship is a different animal to Bluejay"

hxxps://www.mining-journal.com/london-to-a-brick/opinion/4176016/greenland-tale-explorers

[dudishes] 15/2/2024 03:47

G'day philby1. Early again.

Donkeys fed and for us, forget the UK lark, that was Tuesday, we are having pancakes today.

TW bought more just below 75, big deal.

46 & 61, TW may be able to match, as it is his favourite, but then Kefi also?

I have access to their so called Nifty 50, long term I would agree, some scores, short term, I believe they need more on the spot intelligence, as always seem to be asleep!

Stay alert, beat the so called experts.

[philby1] 13/2/2024 12:32

Yes I hold Dudishes, thankfully one of the few mining shares where I'm well in profit. Added a few yesterday too following TW's Bearcast.