Amaroq Minerals Share Discussion Threads

[cat33] 09/12/2024 17:08

Nice summary from Jim https://mining.beehiiv.com/p/jim-s-mining-letter-december-8-2024Worth reading

[dudishes] 06/12/2024 05:32

Somewhat a rare event in todays market.

Not long before proof?

Holding @ 77 & 82.

Need a profit to back a couple of losers!

[breezer_42] 04/12/2024 07:41

It’s quite astonishing they managed to achieve this at a zero discount. It speaks rather well to the demand for the shares!

[metis20] 04/12/2024 07:17

"... pleased to announce the successful completion of its significantly oversubscribed Fundraising..... raising gross proceeds of approximately £27.5 million..at a price of 86 pence..."

[metis20] 03/12/2024 17:58

"...to raise gross proceeds of approximately £20.0 million ...(the “Fundraising”) at a price of 86 pence..."

Good to see it is at virtually no discount to today's closing price, which itself was almost a record closing price.

[loganair] 02/12/2024 22:16

First gold pour is always an important step for any gold mining exploration company.

[cat33] 02/12/2024 20:30

Interesting piece from Jim https://mining.beehiiv.com/p/jim-s-mining-letter-december-1-2024Worth reading

[metis20] 29/11/2024 17:07

first gold pour

[waldron] 29/11/2024 16:52

Amaroq pours first gold at Nalunaq mine

Phase 2 Commissioning, incorporating the flotation circuit, is due to complete in Q2 2025

Refna Tharayil 29th Nov 2024

NSENERGY

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, is delighted to announce it has completed the first gold pour at its cornerstone Nalunaq gold mine in Greenland on 27 November 2024.

Highlights

On November 26, 2024, the Government of Greenland approved the Phase 1 Commissioning of the Nalunaq plant, which has since been operated at its nameplate capacity.

The first gold pour at Nalunaq took place on November 27, 2024, producing 1.2 kilograms (39 troy ounces) of gold after a 10-hour processing period.

The Company will continue to optimise the processing plant during Phase 1 Commissioning and aims to conduct a gold pour on a weekly basis.

Next steps

Phase 2 Commissioning, incorporating the flotation circuit, is due to complete in Q2 2025.

Ramp-up to a steady state nameplate plant capacity of 260-300 tonnes per day of material between 12-16 g/t Au is expected to take place in Q4 2025.

An updated Mineral Resource Estimate (MRE4) for Nalunaq is expected to be published in Q1 2025.

Eldur Olafsson, CEO of Amaroq Minerals, commented:

“I would like to thank my colleagues and the team on the ground who have worked tirelessly throughout the construction and commissioning to deliver first gold on time, maintaining a strong safety record – this is a remarkable achievement for Amaroq and our partners.

“First Gold Pour at the Nalunaq mine signifies a major step on our journey, triggering initial cash flow generation. As Nalunaq transitions from being a cost centre to a cash generator, our focus turns to resource, mine life extension and further exploration to unlock the full mineral potential of our Greenland portfolio.

“Throughout this, we remain focused on the sustainable delivery of our projects, working closely with the local community, and delivering our purpose of creating a Greenlandic legacy.

“I would also like to thank our local community, the Greenlandic government, and our shareholders for their ongoing support.”

[philby1] 26/11/2024 07:56

X

High Grade Gold from Maiden Drilling Results at the Nanoq Project:

[philby1] 26/11/2024 07:25

Excellent news!

Eldur Olafsson, CEO of Amaroq, commented:

"These results mark a significant milestone in our Greenland exploration efforts, confirming Nanoq's exceptional gold potential and strengthening our understanding of the Nanortalik Gold Belt. The visible gold intersected in these first drill holes reflects the high-grade zones we see at Nalunaq, highlighting the potential for multimillion-ounce discoveries in the region.

We are now looking to broaden our exploration initiatives as well as the concept of future bulk sampling at Nanoq with processing at our Nalunaq facility. This cost-effective approach would not only confirm Nanoq's high-grade potential and economic viability but also position us to enhance production and cash flow by leveraging and potentially expanding the processing capacity of our existing infrastructure."

James Gilbertson, VP Exploration for Amaroq, commented:

"This inaugural drilling at Nanoq has validated our geological hypothesis and provides compelling evidence of a robust gold-bearing system. We are optimistic about Nanoq's potential and look forward to expanding our exploration efforts to increase our understanding of this resource in 2025."

[dudishes] 19/11/2024 07:13

Tks Waldron.

Progress awaited. Fingers crossed!

[waldron] 19/11/2024 00:15

Supporting London's FTSE 100, gains in oil, gold and other commodity prices.

Gold was quoted higher at USD2,610.04 an ounce against USD2,569.63 on Friday.

Goldman Sachs reiterated its bullish stance on the yellow metal.

"US policy uncertainty and recent consolidation provide an attractive entry point for our high-conviction long gold view, with structural support from central bank gold demand and cyclical support from Fed cuts. We keep our USD3,000 December 2025 forecast."

Gold miners benefited from the rising price. Endeavour Mining rose 3.5%, Fresnillo climbed 1.9%, Hochschild Mining advanced 4.1% and Centamin firmed 3.6%.


LSE

[waldron] 19/11/2024 00:06

Amaroq Minerals Ltd

80.97 GBX +1.97 (2.49%)

Nov 18, 16:30 GMT

[waldron] 17/11/2024 13:41

How much is 1 gram of gold worth today?


Live Gold Spot Price Gold Spot Price Today

Gold Price per Gram $82.32 €78.24


Might be the daily rate for hiring or walking sledge dog

[ariane] 17/11/2024 13:08

Gold Bars and coins with quality proof and with Nalunaq etched into the metal

All very similar to the Olympic Gold Products offered in mint condition

As to price,we will have to wait and see

[dudishes] 17/11/2024 12:44

Tks Waldron.

What exactly mean by offering local people the opportunity to by gold sourced at Nalunaq?

Cost price or barter?

[ariane] 17/11/2024 11:41

Reykjavík, Nov. 15, 2024 (GLOBE NEWSWIRE) -- (“Amaroq”; or the “Company”;)

Amaroq Minerals Announces Key Agreements in
Preparation for Gold Production in Nalunaq

TORONTO, ONTARIO – November 15, 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, is pleased to announce several significant agreements in connection with the expected start of gold production at Nalunaq. These agreements mark a significant step as the Company prepares for its first gold pour in Q4 2024.

Amaroq has entered into an offtake agreement with Auramet International, Inc. (“Auramet̶1;), whereby Auramet will purchase all of the gold produced from Amaroq’s Nalunaq gold mine in South Greenland. Auramet also offers various financing facilities, such as pre-export finance, which could add to Amaroq’s financial flexibility to advance its operations.

In addition, Amaroq has secured an agreement with Metalor Technologies SA (“Metalor̶1;), which specializes in the evaluation and refining of precious metals at its refinery located in Switzerland. Metalor will process all the doré alloy obtained from Nalunaq.

Ellert Arnarson, CFO of Amaroq, commented:

"We are pleased to have signed these important agreements with established partners in the industry, providing us with the necessary support and expertise to ensure the successful delivery and sale of gold produced from Nalunaq at competitive industry terms. Importantly, we are also committed to offering local people the opportunity to buy gold sourced from Nalunaq, and will be partnering with a UK refinery to enable us to do so. We look forward to a productive collaboration as we approach first gold and beyond."

[waldron] 17/11/2024 11:26

AFTER COMING ACROSS ABOVE ARTICLE, NOW NOT SURE WHAT NEXT WEEK WILL BEHOLD

[waldron] 17/11/2024 11:25

Gold faces worst week since 2021 as US Fed signals no rate-cut rush

Bullion has fallen six days in a row and is set for a weekly loss of more than 4 per cent.


Nov 17, 2024, 06:15 PM
STRAITS TIMES

Gold traded near a two-month low, on course for its worst week since June 2021 as traders wind back expectations for a US Federal Reserve interest-rate cut in December.

Bullion has fallen six days in a row and is set for a weekly loss of more than 4 per cent. Traders pared back expectations for lower rates in December and policy-sensitive US bond yields jumped after Fed chairman Jerome Powell said it will be in no rush to cut, given the economy’s “remarkably good” performance. Lower borrowing costs and declining yields tend to benefit gold, as it does not pay interest.

The precious metal has dropped about 8 per cent from a record high on Oct 31, with losses accelerating after Donald Trump’s election victory last week. A gauge of the US dollar has risen to a two-year high on expectations that a Trump presidency will lift economic growth and corporate profits. A stronger greenback makes commodities priced in the currency more expensive for most buyers.

Still, gold is up more than 24 per cent in 2024, with gains supported by the Fed’s easing cycle, central bank purchases, and heightened geopolitical and economic risks that have driven haven demand.

The Bloomberg Dollar Spot Index was down 0.4 per cent after hitting the highest level since 2022 on Nov 14. Silver slipped.

Platinum and palladium gained. BLOOMBERG

[waldron] 17/11/2024 11:14

ANALYSTS CURRENTLY POSITIVE IT SEEMS

IN CURRENT POLITICAL CLIMATE GOLD IS SOLID AND IN VOGUE

PERHAPS ONE CAN EXPECT ANOTHER TREND UP IN COMING WEEK FOR AMRQ

GOOD LUCK

[waldron] 17/11/2024 11:09

Mean consensus
BUY

Number of Analysts
3
Last Close Price
1.460CAD

Average target price
1.773CAD
Spread / Average Target
+21.46%

High Price Target
1.773CAD
Spread / Highest target
+21.46%

Low Price Target
1.773CAD
Spread / Lowest Target
+21.46%

[waldron] 17/11/2024 11:05

AMRQ Amaroq Minerals Ltd.



Canaccord bullish on Amaroq Minerals stock as Nalunaq gold mine nears restart


Investing.com
Editor
Emilio Ghigini

Published 10/30/2024, 05:40 AM


On Wednesday, Canaccord Genuity initiated coverage on Amaroq Minerals Ltd (AMRQ:LN) stock with a Speculative Buy rating and a price target of GBP1.25.

The firm highlighted the company's focus on the high-grade Nalunaq gold mine in southern Greenland, which is nearing the completion of construction and is set to restart operations this quarter.

Amaroq Minerals is also on track to complete its Phase 1 processing plant in the fourth quarter of 2024, with the first gold pour expected by the end of the year. The company anticipates beginning the commissioning of the plant in the first half of 2025. Canaccord's analysis projects a conservative estimate of 20,000 ounces of gold production from Nalunaq in 2025, with production anticipated to increase to 43,000 ounces once the mine reaches full Phase 1 capacity in 2026.

The financial outlook for Amaroq Minerals appears positive, as the company is expected to become operating cash flow positive in 2025. Furthermore, following the completion of Phase 2 of the processing plant, Amaroq is forecasted to turn free cash flow positive in 2026. Over the past twelve months, the company has significantly restructured its finances, which is expected to contribute to a robust balance sheet throughout the commissioning period in 2025.

Canaccord's initiation of coverage with a Speculative Buy rating reflects the firm's optimism about Amaroq Minerals' prospects, particularly with the impending restart of the Nalunaq gold mine and the progression towards gold production. The price target of 125 pence underscores the potential value Canaccord sees in the company as it advances its mining operations and financial position.

[dudishes] 15/11/2024 03:28

For what its worth, TW 2nd largest holding is AMRQ.

His largest holding is OPTI, not exactly a good choice by any means?

The timing and gold pure is purely speculative.

I reinvested at the same point of previous close, 80p.

A pure gamble on my part.

Being ex RN and an ardent sailor, I have my doubts about the weather?