Amaroq Minerals Share Discussion Threads

[metis20] 13/2/2024 09:41

NASDAQ September 2023 registration document:



The Nalunaq deposit is high-grade and has previously demonstrated a low all-in sustaining cost, making it a high margin asset. All-in sustaining cost estimates range between US$725/oz to US$910/oz. The Company has a current Inferred Mineral Resource of 320,000 oz. (355,000 tonnes at 28.0 g/t Au), covering the old mine area and into a number of extension areas, and a further potential of between 200,000 oz to 2.0 Moz. of near-mine Exploration Targets (2.5 to 10 million tonnes at 2.4 to 6.0 g/t Au).

[breezer_42] 13/2/2024 09:05

I can’t remember my in price as I’ve switched brokers, but I’ve held here since about 2019 - before the Nalunaq disaster.

I then doubled up at around 30p after it was clear AEX wasn’t going bust, because as long as there’s an operator then these assets were chronically undervalued.

I recently cut my position in half at 72p for portfolio balancing and am keeping the rest at least until gold flows!

Edit: Oversubscribed at a premium to market is impressive.

[metis20] 13/2/2024 09:03

approx £44mn raised

Eldur Olafsson, CEO of Amaroq, commented:
“I would like to thank all participating shareholders for their strong support shown in this financing. We were particularly pleased to note strong demand from the Scandinavian pension funds. The funds raised will enable us to accelerate mining at Nalunaq, whilst continuing to invest in our exploration portfolio in both gold and strategic minerals across South Greenland.
We now have great confidence in delivering on our objectives at the Nalunaq Mine and in enhancing our potential to deliver value for shareholders and local communities within Greenland, and I look forward to providing an update on specific timings for the Nalunaq project later this year.”

[dudishes] 13/2/2024 08:17

philby1,

Are you a 9 to 5 geek? Or related to Kim Philby?

No, got it, a UK early riser.

BTW, it was 0410 where I live, and the donkeys like early feed.

I realise this BB is rather quiet, just thought I may wake some from the dead. Seems you were the first.

I happen to be a holder, 46 & 61p, and you prey? Do you hold?

cheers

[breezer_42] 13/2/2024 07:59

This does seem to fly somewhat under the radar. I imagine many potential investors are waiting for some tangible success. Gold in the ground is one thing, cash flows quite another. I’m happy to sit on my position here, rather than wait and pay a lot more in a success case!

[philby1] 13/2/2024 07:32

Not at 3:10 in the morning!

[dudishes] 13/2/2024 03:10

G'day,

Very quiet here, does not 230g/t not excite one?

Long.

[metis20] 12/2/2024 07:24

£30mn placing at a premium!

TORONTO, ONTARIO - 12 February 2024 - Amaroq Minerals Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ), an independent mining company with a substantial land package of gold and strategic energy transition mineral assets in Southern Greenland, confirms, further to its announcement on 11 February 2024, its intention to conduct a placing and subscription of new common shares (“Common Shares”) to raise gross proceeds of approximately £30.0 million (equivalent to approximately C$51.0 million or ISK5.2 billion) (the “Fundraising”) at a price of 74 pence (C$1.25, ISK127) per new Common Share (the “Placing Price”), with the net proceeds being used to accelerate development and exploration activities.

As announced on 11 February, the Company has already received indications of interest from investors in excess of £30.0 million at the Placing Price.

[metis20] 29/1/2024 07:22

Very promising channel sampling results from within the Nalunaq mine.
Includes:
"In addition, further sample results now confirm the significant extent of the newly discovered 75 Vein, now with a total extension similar to that of the Main Vein. This body is now known to extend above all mining blocks with grades of up to 256g/t Au over 0.5m above the Mountain block, 22.59g/t Au over 0.59m above the Target Block, 175g/t Au over 0.51m above the South Block and 15.5g/t Au over 1.45m above the Valley Block. These results enable us to robustly model this second vein and, following further drilling results, we hope to be in a position to define a Mineral Resource for this vein in the near future.

[metis20] 15/1/2024 08:27

"The Nalunaq deposit is high-grade and has previously demonstrated a low all-in sustaining cost, making it a high margin asset. All-in sustaining cost estimates range between US$725/oz to US$910/oz. The Company has a current Inferred Mineral Resource of 320,000 oz. (355,000 tonnes at 28.0 g/t Au), covering the old mine area and into a number of extension areas, and a further potential of between 200,000 oz to 2.0 Moz. of near-mine Exploration Targets (2.5 to 10 million tonnes at 2.4 to 6.0 g/t Au)."

Good to see the historic low all-in sustaining cost.

[copandrobber] 14/1/2024 18:06

MAIL ON SUNDAY TODAYhttps://www.thisismoney.co.uk/money/investing/article-12959183/MIDAS-SHARE-TIPS-UPDATE-Mining-firm-Amaroq-Minerals-proves-mettle.html

[philby1] 04/1/2024 13:28

Going well again today. 2024 should be a very good year for Amaroq:

[breezer_42] 28/11/2023 16:34

We just have to hope it doesn't get bought out cheaply like so many other AIM gems!

[loganair] 26/11/2023 19:52

Looking back over the past few months...

But first, to finances. AMRQ now seems very well funded, with the gold business holding working capital of $41 million at the end of June. And it held $46.7 million at the end of March, implying a monthly cash burn of just under $2 million. In the strategic minerals business, the company has $29.3 million of liquidity, after completing the GCAM JV in April.

On 1 September, AMRQ also secured the March-proposed $50.9 million senior secured debt funding package - The interest terms of the funding do not appear too onerous — with the proceeds to be ‘used to fund the transition of the Company’s Nalunaq mining licence from a bulk sample trial mining development plan to staged, full scale production of gold doré on site by bringing forward construction of a processing plant and associated infrastructure.̵7;

Q2 operational highlights - Importantly, the company highlighted that ‘the project is progressing on budget and to schedule.


By mid 2024 expecting trail mining and processing of gold to bring in initial cash flow.
Early 2025 Full mine reopening.


The Bottom Line:

Amaroq is funded. The company is on target to achieve first gold production at an exceptionally prospective resource next year, and even after the share price rise, the company is looking cheap. In an era of high interest rates and falling liquidity, it’s sourced favourable funding from key players — and it’s staffed by some of the best names in the industry.

Like so many of the best opportunities in the gold space, the London market is seemingly asleep to the opportunity.

But with the Icelandic investors now on board, Q1 2024 mining trial, masses of exploratory results to come in the near future, and first production targeted for H2 2024, this might not last long.

[bobby1904] 11/10/2023 14:22

Gold in main most advanced project Nanaluq (production 2024)...other metals too in their other JV projects

[andrbea] 11/10/2023 14:05

So they're targeting nickel, copper and rare earths (saya the interview)

[bobby1904] 11/10/2023 13:47

...I should add Panmure Gordon (last wk) upgraded their Target share price to 104p (1xNAV)..

[bobby1904] 11/10/2023 13:22

Huge trades going through again today! Retail Mkt completely oblivious...After these absolutely massive grades in drill results today & following the upgrade to Icelandic main mkt last month, the set up here looks very positive indeed..Feeks like Icelandic Pension Funds now starting to build their positions...eventually this cork will have to pop...Attractive upside from here imo

[philby1] 23/9/2023 13:16

Unlocking Greenland's Mineral Wealth: Eldur Olafsson's Vision for Amaroq Minerals:

[copandrobber] 19/9/2023 19:38

Big Volume on the build up to the big day!

[bobby1904] 13/9/2023 07:51

Big News!! Move to Iceland main mkt approved this morning..21st September for first day of trading...Pension Funds will need to get buying..!

[bobby1904] 12/9/2023 15:55

They've published their Prospectus now...main mkt listing getting very close now...Hope the Icelandic Pension Funds are sharpening their pencils! https://polaris.brighterir.com/public/aex_gold/news/rns_widget/story/wkjo6yr

[bobby1904] 07/9/2023 11:45

The Main Mkt listing targeted for 2wks time (3rd wk Sept)..Icelandic Pension Funds currently own less than 3% of AMRQ stock..based on their holdings of the other main mkt listed co.'s it is expected that will be lifted to at least 20% and probably higher over time, as well as inclusion in various tracking indices! All makes for large size buying pressure to come soon...Should provide a very positive catalyst for share price .