Amaroq Minerals Share Chat (AMRQ)

Thanks for posting InTooDeep999. A great interview that clearly demonstrates the enormous potential of Amaroq in Greenland. There should be a lots of news coming through and I've added to what now is now my largest mining stock holding.

Good afternoon. That was an interesting interview - though not telling us much more than already known. Mr. Gilbertson excluded Nanoq from the prospects most likely to surprise - seemingly thinking the potential size and scale, previously referred to by Mr. Olafsson as looking like an elephant, possibly exceeding Nalunaq, is already out there. I’m not sure that’s yet recognised, but as with all, we wait on results of 2026 exploration and assays of this year targets. But I think, as things go, there’s every chance that one or another might have proved to be a company maker in its own right - for which we have Nalunaq.

It will be an interesting prospectus for main market listing - the first time it’s all been pulled together as a sales document on what Amrq offers, albeit over time.

I look forward to confirmation of steady state production into and beyond Q4, free cash flow from Nalunaq to pay for the rest. Main market listing would have provided an opportunity to raise had they not had eyes on that.

They chose not to. I do not rule out a strategic raise, no discount, may occur sometime. They certainly want to accelerate the projects, if they can.

Some expect a trading update this month. I can’t say it won’t happen, and they may now choose, now producing, to move to quarterly updates. It’s not on Amrq financial calendar. Third party websites are not particularly reliable - I don’t know how they source their information.

As it is, I would expect to list with inclusion of full H1 results at least, scheduled for August.

Bit of guessology going on for me.

Agree that its a great interview.

James Gilbertson is a geologist and he obviously felt relaxed and excited talking about the mining of gold and other metals in Greenland. The great thing is that he and Charles were not trying to sell the financial side of the company or the politics. they just discussed and described the huge potential of what is within the reach of this company. 2000grams per tonne of gold. Over 70 percentage DSO Iron ore. Lead mountains and more drilling opportunities than you can shake a stick at.

Well worth a listen.

Just listened and a great interview. The potential over multiple, multiple deposits is quite mind blowing!

Https://thatstocksguy.substack.com/p/amaroq-fe2?r=28f0br&utm_campaign=post&utm_medium=web&triedRedirect=true

PS. In conversation, whilst anybody responds or not, I see no reason why Amrq should have a decreasing share price.

I guess it’s a combination of pi boredom, and institutional waiting for Q4 realisation, ongoing til it’s proven following main market listing.

There’s just so many prospects ahead, and I think Black Angel and Nanoq will achieve on their own merits, its’s hard to see Amrq not succeeding in Greenland.

Not happening just now.

I suspect, and don’t believe it’s in the gold price, which is still hugely profitable for Amrq, it’s about the market saying ‘show me the free cash flow to support the rest’

To me, though the price has flagged, there can’t be many producers with such a plethora of opportunities, as it ticks off its milestones, on time, on budget.

All the best.

* This is exactly why the estimated $12.5M – $21.5M upfront starter CapEx can be rapidly amortized.

Picked from the rest.

Black Angel is probably the next revenue producing mine.

However, I had a look at Nanoq, 3 km Road, what it might cost and so on ( AI gives a view ) as I personally consider it might not be far behind in mining terms, as an open pit starter, with some prior mining portal. And we await Canadian analysis of the large sample, to determine the compatibility of Nanoq ore with that from Nalunaq - processing at Nalunaq plant, as things are currently ‘planned’. It seems it’ll all be OK. Feeding satellite ore to 300tpd - at world class grade.

I give you, for what it’s worth, the AI thoughts, summarised better than me. With which, having challenged it, I concur, whilst knowing no more than google and all them can give me. Some call it research, using what you can.

‘While Nalunaq's high head grades mathematically pressure Nanoq to deliver higher quality, the current macro gold price environment effectively neutralizes this hurdle.

* Expanding Profit Margins: With gold consistently testing all-time highs, the economic margins for any asset with a sub-$1,500/oz AISC are exceptionally wide.

* Lowering the "Economic" Cut-off: High metal prices generate substantial revenue per gram. This means that even if a lower-grade batch of Nanoq ore (e.g., 7–8 g/t) temporarily dilutes the overall mill average, the high spot price ensures the net margin on those processed ounces remains highly cash-flow positive.

* Accelerated CapEx Payback: At high gold prices, the projected $12.5M to $21.5M upfront CapEx to finalize the Nanoq starter mine and coastal jetty can be entirely amortized and paid off within the first few months of active shipping, dramatically lowering project development risk.

Summary of the Integrated Model

The combination of a dual-circuit plant and a high gold price transforms Nanoq from a potential operational distraction into a key asset. The blending sequence maximizes total ounce output, while high commodity prices lower the required geological grades needed for profitability, clearing a straight path toward production once the Maiden Resource is finalized.

The calculations utilize a conservative spot price of $4,000 to $4,100 per ounce. [1, 2]

This reflects current market conditions, where spot gold is trading at $4,110 per ounce, having pulled back slightly from the record all-time high of $5,594 per ounce established in January. [1, 2, 3, 4]

Even when using this adjusted price floor of $4,000/oz to evaluate project financials: [1]

* The Margin Buffer is Extreme: With Nalunaq’s total company AISC guidance targeted at $1,250 – $1,450 per ounce, processing satellite ore at these price levels generates roughly $2,500+ in free cash flow for every single ounce recovered. [1, 2]

* CapEx Risk is Insulated: At a conservative $4,000/oz scenario, a high-grade 15 g/t satellite open pit would generate over $1,900 in gross revenue per tonne processed. This is exactly why the estimated $12.5M – $21.5M upfront starte

Personally, though the gold price is important, and can go anywhere, for Amrq I think it’s more about investors believing it can consistently deliver its production targets, and forecast AISC 4th quarter on. At $4000 an oz, even less, it can deliver on its current strategy.

And by year end there will have been delivery on the pathway of other prospective business interests - alongside Suliaq.

On my way of thinking, the current price does not reflect the forward would-be fundamentals, let alone what might be teeing up through exploration over the years.

I suppose there could be a view that Nalunaq free cash flow will be swallowed up through exploration and so on. But it is a growth company.

Just a mention from him. May be one of the crackpots old Mir on about.

Somerville takes the view the bottom may be in for gold. How would he know?

Nevertheless, here’s the mention.

‘ For UK investors, the Andy Burnham scare stories about tax-hikes (stealth or otherwise) abound in the press. I wonder if that is because there’s a good deal of kite-flying by his team to see what they can slip through. The trouble is that he has learnt nothing from the 1970s…..taxes are already too high and more money (and people) will just leave. My personal hope is that he gets a bounce in the opinion polls and calls an election. But if not, I would suggest for UK investors, you would be nutso not to hold a chunk of gold exposure as a trip to the IMF would surely be a slam-dunk certainty. With the Amaroq (AMRQ) announcement that its move to the main market could happen as early as the end of this month, the timing of what could prove to be the turning point for gold could propel my shares north there as the tracker-funds pile in………’

I think he must be right on tracker funds and others. With no additional shares being offered on listing, theoretically there should be a little more competition for the shares on the open market.

‘Admission is expected to occur no earlier than 31 July 2026.’

Permits the flexibility to include H1 figures in the prospectus, with visibility on Q3 enhanced production rates, or leave it until Q3 is finalised, later in the year. Either way, drilling results from 2026 exploration, and subsequent assays, will start to flow sort of late summer/autumn on.

A key result there, I imagine, will be what can be made of Nanoq, advancing toward a maiden MRE.

And they’ll, rather obviously, not put out a prospectus lacking MRE5 for Nalunaq.

All the best.

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Are we looking at September still or is there a chance of August?

Assume the move to a main listing will also bring the shares into the stamp duty world? If anyone planning a buy then worth considering.

And underlying that RNS ( no raise ) is the message things are, and anticipated will, continue as planned to be self-funding across the company from Nalunaq free cash flow.

Zak Mir calling something 'pointless'.

That's every irony-ometer within 10 miles of the Monument bust beyond repair.

Moving to the main market seems like good news to me and ticks another 'we do what we say we do box' for AMRQ. Ref 'something that makes it rather pointless' I don't really know Zak Mir but I guess he knows more than me. However the comment would seem to ignore the stigma that AIM has in some minds. Many have seen the 'light touch' regulation in action (or inaction) where company execs post highly misleading stuff sometimes accompanied or followed by huge dilution and a collapse in share value. Even if this is more perception than reality it still matters. On balance its probably positive that there won't be a fundraise so the temptation to issue a few more shares has not been taken. I see at as further progress.

Readers will know he attracted further comment about mid-June, whilst describing Amaroq as a decent company, something like that. It was suggested he’s on about Winnifrith.

Seems to have his arse in his hand a bit about Amaroq, some other commentator, and Mr. Olafssson best judgment.

‘Comment: AMRQ is one of an interesting bunch of companies that appear to have chosen to have regular crackpot commentary on them, and apparently not being concerned about how much that source may or may not have lost private investors over the years. We are assured that the move from AIM to the main market is not the forerunner to a fundraise, something which rather makes it pointless.’

Joined the buying today. Level is too good.

That’s a small excerpt. A starter on production. As they say, they go on to highlight Black Angel.

It’s out there to be read.

Upgraded the share price from 204p to 205p ie 1p difference, and writing 1/2 A4 size research to that effect lol. Just tells you what the corrupt city men think of the ‘unwashed’ PIs.

Commercial production nears; 2026 exploration kicks off Last month saw Amaroq achieve key milestones in its journey towards becoming a self-funded growth company, with the completion and commissioning of Phase 2 of the flagship high-grade Nalunaq gold mine in Greenland. First gold concentrate was produced alongside the existing doré pours, while the plant was reported to be operating at design specification. Assuming ramp-up proceeds to plan, we expect commercial production to be declared and the company to turn FCF-positive during 2H26. Production guidance was reiterated at 7-10koz for 1H26 and 25-35koz for FY26. Importantly, 4Q26 All-In Sustaining Cost (AISC) guidance remains US$1,250-1,450/oz, which we expect to be broadly representative of the operation thereafter. Against a spot gold price of cUS$4,085/oz, this implies robust operating margins and strong cash generation with which to fund exploration and growth. Having focused on Amaroq’s gold portfolio in our initiation of coverage, today we shine the spotlight on the past-producing high-grade Black Angel zinc-lead-silver mine. We believe the project’s significance lies in its potential to become the company’s second producing mine and the centrepiece of a new mining district, replicating the hub-and-spoke phased development strategy established at Nalunaq. We have updated our model for the various developments since our initiation, resulting in our target price rising modestly, to 205p/share (from 204p/share).

In fact if you have a look at the Chart going back say 3 years, you will see it starts it annual recover around early September. This year due to the build up of accretive news, perhaps it will starts its climb earlier. Looking forward to hear what they say on 16th July.

I'm just comforted by the Amarok Chart which shows the stock has a regular tendency to recover strongly during the second half of the year. I suspect that will be even more so this year as Nanuloq is well on the way to improving recovery levels from 65% to 90% plus and production of gold ramps up. Also moving to the Main Market in say Sept/Oct, will no doubt create investor interest. Black Angel work is also underway and I'm sure we will get an update in H2.

In the short term, MRE5 for Nanuloq is imminent and on Thursday 16th we get a Trading Update. Good luck all investors

I quite enjoyed the exchange which I hope and believe was done in quite a respectful way. I do feel progress is excellent so far and no sign of anything hidden. I suspect part of my half empty approach is down to simple concern that the size of my investment here is (whilst still fun money) a fair chunk.

Thanks for the exchange. We’re pretty much on the same page, I think.

It’s this second half, as generally indicated by analysts and commentators, and one can see the reasoning at least, when one might anticipate improvement.

Agree with all of that, definitely upside odds. Although we may appear to disagree somewhat on nuance I do believe I’m going to make some good money here and presumably so do you. At my age you would think I could be a bit more patient!.

You’re right.

On this one, I think the odds are to the upside. Future recognised Greenland producer/

explorer of interest to Western Govts, quite apart from the seemingly flagging pi interest for now.

It’s a drag, just now, has been for ages.

Quite terrible, beyond my expectations.

Yet nothing has changed for the company but for the better.

As such, the odds seem better to me, for those that decide on the evidence, to buy at this price.

Matter for them.

I’m not happy at the price, but I am optimistic, with my own reasoning, for the future.

Not predestined but it could as could any other company. It’s where you pitch the odds really.

In other words, they have to firm up those they choose. They’ll be years in the making.

As a producer/explorer, what a portfolio they seem to have, cementing their Greenland presence.

I haven’t gone down that road.

I think they have enough on with Nalunaq and Black Angel next.

100kg sample from Nanoq, waiting results, possibly for early consideration of mining through portal to supplement Nalunaq ore, before fully working Nanoq out after maiden MRE, possible open cast and so on thereafter.

I view the rest as establishing projects, hopefully moving up the value chain. With no real foresight given on commercialisation as yet.

Does the AI give a rough guideline on potential 1st production on all?

It’s not necessarily exhaustive. There’s also Minturn.

Amaroq's Minturn Project is an extensive Iron Oxide Copper-Gold (IOCG) and iron ore prospect located in northwest Greenland, north of the Pituffik Space Base. Managed through the strategic joint venture Gardaq, the site is targeted for its vast, "elephant-scale" mineral systems.Exploration at Minturn focuses on a massive magnetic and electromagnetic anomaly system spanning a ~9km strike. Key project details include:High-Grade Iron Ore: Surface sampling returned exceptional iron grades of up to 69.5%. The deposit features low levels of impurities, which raises the potential for Direct Shipping Ore (DSO) suitable for direct reduced iron products.Copper and Gold Potential: While historically identified for its magnetite core, parallel electromagnetic anomalies indicate the presence of copper and gold within the broader IOCG geological model.Exploration Campaign: The company has run extensive campaigns, utilizing surface geophysics, soil sampling, and core drilling to delineate the deposit and define a maiden Mineral Resource Estimate.

Having mentioned diversification earlier, just a quick AI generated overview of what Amrq has/aims for.

Amaroq Minerals is actively exploring and developing a diverse portfolio of gold, strategic base metals, and rare earth elements (REEs) across two strategic hubs in Southern and Western Greenland.

A breakdown of the metals and minerals they are targeting by project includes:

Southern Greenland Hub (Gold & Strategic Metals)

This hub targets multiple elements across the Nanortalik Gold Belt and surrounding geological zones.

* Nalunaq Project:

* Primary Target: Gold. Amaroq's cornerstone and operational asset, known for being one of the highest-grade gold projects in the world.

* Nanoq Project:

* Primary Targets: Gold and Copper. Sampling has returned high-grade gold assays, with indications of promising economic mineralization.

* Vagar Ridge:

* Primary Target: Gold. A regionally significant gold belt with the potential to host a globally significant intrusion-related gold project.

* Kobberminebught & Sava Copper Belt:

* Primary Targets: Copper, Nickel, and associated strategic metals. This is a major geological structure striking ~200km that Amaroq believes could be an emerging, globally significant copper belt.

Gardar Province (Rare Earth Elements)

This geological province is recognized for housing a vast share of global rare earth element (REE) resources.

* Ilua Rare Earth Project:

* Primary Targets: Rare Earth Elements (REEs), including high-value heavy rare earths like neodymium, praseodymium, dysprosium, and terbium.

* Associated Minerals: Surface sampling has confirmed the presence of commercially significant minerals such as britholite, monazite, and zircon. Amaroq initiated targeted subsurface scout drilling on this pegmatite project.

Western Greenland Hub (Base Metals)

Located in West Greenland, this hub focuses on legacy mining infrastructure with a focus on base and critical metals.

* Black Angel Mine & Kangerluarsuk:

* Primary Targets: Zinc, Lead, and Silver.

* Associated Critical Minerals: Re-assaying has also confirmed commercial levels of critical and strategic minerals including Germanium and Gallium. []

And then add the upcoming Suliaq (supported by JLE ) and down the line Imeq businesses.

In other news, I see Canada has finalised an agreement to advance a feasibility study with Greenland Resources today, apparently the first G7 govt to invest there. They want a say in the molybdenum and magnesium, and a Canadian Inuit company will build the mine. Hopes to add 25% to Greenland GDP.

And Gardaq will pay 49% of ongoing critical minerals costs, with nothing to come to them from the gold revenue.

Https://www.lse.co.uk/rns/AMRQ/drilling-commenced-at-the-high-impact-ilua-rare-earth-project-south-greenland-d06ffdccz4nc23q.html

Whatever else, the company, with partners Gardaq on this one, are beginning to differentiate themselves from other gold miners as they transition towards the critical minerals market, development paid for by the gold from Nalunaq, and extremely likely, Nanoq over the years.

Black Angel ( 100% Amrq ) gallium, cadmium, germanium, and now this new stuff, which can be googled for usage, non-Chinese controlled. Must create some interest at least, in the new frontier, to Western Govts.

They did publish an update on early exploration activities in July last year. It may be that now Nalunaq is moving into steady state production and revenue, they could go to quarterly updates. I don’t know.

As it is, I think they’ll be looking to list main market London on the back of comparatively recent financial results, updated MRE, financed Suliaq ( going on operational) and perhaps some 2026 drilling results. Whether there is a need, or justification, for a ‘delayed’ Nalunaq MRE5 is another matter.

Regardless, in Citi-Group marketing the company to FTSE buyers, an ‘up to date’ prospectus ( a week or so ? ) before listing seems sensible.

From a market perspective and anticipated Amaroq operational progress, an autumn London listing, September on, now seems likely to me, with Q3 Nalunaq figures available, as they go into Q4 with foresight on that lower AISC.

I believe we have a Trading Update on 16th July. I'm sure Phase 11 at Nanuloq is doing well with recovery rates picking up towards the yr end target of 90%. I suspect the move to the Main Market has been delayed and will now be Sept/Oct. The MRE5 for Nanuloq must be very close and work starts this week on Black Angel. It seems the SP has a defined pattern. Lot at the 3 year chart. That suggests H2 should see a nice upward trend towards a new high. Fingers crossed

Up to 15000 m drilling planned for this season.

-Infill drilling in central zone

-Expand along strike to the south and at depth

-Parallel zones (West 1 + the other West targets)

Currently there is a cargo vessel in the Kangerluluk fjord, Most likely bringing materials for Nanoq resource drilling.

A couple of reasons why MRE5 has not been reported yet. As part of their approach to upgrade more resource annually to highest category now, to convert to ore reserves to bring into the mine plan for scheduling that are really important toward accurate production guidance, particularly where the upcoming main listing is concerned.

These reserves are more complicated to estimate than resources, with far more data to run through, which is why they take longer to formulate for one.

But more likely due to AMRQ’s approach to building confidence toward producing MRE5, it was reported they have been tunnelling of the gold vein which allows them to compare drill results with the gold actually mined.

This is real time data they use to optimise processing. By comparing this actual feed material in terms of its ore distribution, against the resource model, the mining engineers can more accurately calibrate the resource model and knowing the ‘actual’ ore characteristics also allows the on site team to adjust grind size, reagent dosages and flotation settings to maximize recovery and throughput. Enabling more accurate, data-driven process control from the outset with the inclusion of the flotation circuit.

They need to nail on production guidance and hit those quarterly figures so MRE5 is integral to doing that as the world’s eyes watch closely to see if they can deliver and be more highly investable on the main market.

MRE5 is 4 months overdue now... AMRQ are now entering exploration season so wonder if we will see an MRE update soon. I also don't see LSE happen in this summer. Looking at the share price developments of the past years this likely will go down further in the next months.

So what we got? For now.

MRE5 upcoming - I read that’ll convert resources to higher category.

Lse London main listing and necessary prospectus - first time they’ll bring current stuff together, to promote.

When I talk of 120p, it goes to what Mr. Olafsson has said, in conversation with Mr. Archer. That that level, will increase Icelandic interest, having apparently had their fingers burned on one or more listings.

He knows more than me, old Olafsson, and has said he sees it happening. Saying sensible people are buying. Thsts in his interview with Mr. Archer.

I dunno. All in all, recent progress, I take his view as an unusual suggestion to buy, as a chief executive.,my impression being he thinks, and can demonstrate, Amrq is currently undervalued.

120p is maybe a kicking off space, taking relative margins into account as against peers, under no4mal circumstances.

It’s not working for me, just now, as I would have liked.

We’re into a year of much change.

I suppose you, for me, can call it having faith in the fundamentals, together with diversification from gold as a Greenland prime mover.

There may or may not, be a quarterly update. Up to the company.

Full H1 results, incorporating Q2, are scheduled, as you say, for August.

Today news mentions half year results on 16 July

Amaroq financial calendar says Q2 results on 13 August.

Good work guys!

https://x.com/weareamaroq/status/2069365366237659526

Worth a listen in my opinion - relevant to gold.

Https://www.youtube.com/watch?v=JYkeP0S_cXQ

That should be prospects by the way, queing up.

I don’t know, those following these explorers may be able to point to listed companies with better tee’d up exploration prospects.

Those were comments on that Mir person. Chartist - not a lot of cop on this one.

I don’t know where the rest of you are at.

I just look at the coming free cash flow, and the very long line of oroododcts.

Strong FCF producer, leading to increasing valuation from exploratory resource definition, and so on from there.

You can’t make money in Greenland, is gone.

Well, it don’t matter, does it. He only knows what the rest of us do. I think, he considers himself a chartist - what’s happened, as opposed to what might.

My own view, on them lot, is Archer just may have a better relationship than him.

Retail will take its view. Pretty short term, I think.

I wait on main London listing.

They’ve now gone to phase 3 Nalanuq, and all the rest

In my view, an6body says Greenland isn’t in majors mind, at least, is daft.

I think from memory that Amaroq is one of TW's largest of his gold holdings. He is extremely positive about the potential here and believes the company is very much undervalued at the current share price.

I agree with your comment on Mir.

As a 45 year investor with an overweight position here, I'd just like to say that in my experience of Zak Mir everything that falls out of his mouth is either paid for "research" or total rubbish. TW not everyone's cup of tea but he has at least been consistently supportive of AMRQ for a considerable time now.

Eldur Olafsson, CEO of Amaroq, commented:

“With the Nalunaq gold mine now through the commissioning of Phase 1 and running in steady state operations, I am pleased to be announcing our 2026 full year production guidance range of 25-35koz of gold. Within the current gold price environment and based on our cost and capital budgets for the year, we anticipate strong free cash flow from operations, supporting comprehensive exploration programmes, as we seek to unlock the substantial value within our portfolio; from pure play exploration to pre-development infrastructure and resource growth.

“As previously announced, we continue to engage in discussions with third parties in relation to the independent financing of our Suliaq support services and logistics business, which is a perfect example of how we are looking to leverage our platform to enable and support our mining operations, as well as derisk the broader resource growth opportunity in Greenland.

“We have a very exciting opportunity set and are actively looking at ways to fast-track the various projects we are developing, in order to realise incremental net present value through accelerated execution. I believe this will be a theme in 2026; leveraging our scale, local expertise, and people to drive value from our extensive acreage position and integrated platform.”

Perhaps better from RNS.

2026 Exploration budget and high-level programme

Comprehensive exploration programme, focussed on resource growth, pre-development infrastructure and high impact exploration, across the full breadth of the portfolio.

Total planned exploration expenditure across the portfolio with a base case of USD11m, with the ability to increase up to USD29m to accelerate exploration programme subject to market conditions.

West Greenland Hub & Black Angel – The Company plans to conduct the rehabilitation of all surface facilities, the updating of various technical feasibility studies targeting a Phase 1 mining operation in 2028 and commencing resource growth exploration programmes towards future Phase 2 mining operations.

Nanoq – Amaroq intends to initiate a phased resource development strategy in 2026. The first phase will focus on systematic drill testing of the Central Zone with the objective of establishing the geological continuity and data density required to underpin a Maiden Mineral Resource Estimate. The Company will in parallel look to improve surface logistics on site to facilitate further phased exploration in 2027 and beyond.

Nalunaq – The Company intends to conduct parallel underground resource definition and exploration programmes aimed at providing progressive resource replacement to the mining operation.

Satellite Gold Targets – Regional exploration within the Nanortalik Gold belt will continue to target Amaroq’s next significant gold resource discovery.

Minturn IOCG – Following the identification of a Mineral System of significant scale, the Company intends to conduct surface geophysical work and a scout drilling programme, to assess the scale of the mineralisation and potential economics of the target.

Ilua REE – Amaroq intends to mobilise a field team to the Nunarsuit licence to further delineate the scale of the REE hosting pegmatite systems and to conduct initial scout drilling to understand depth potential and volumetrics.

Stendalen – Following further assessment of geological and geophysical data, Amaroq will continue to develop additional drill sites targeting potential sulphide traps and is reviewing options to action on these during the upcoming season.

Page 8 on, and results flowing as available.

https://wp-amaroq-minerals-2024.s3.eu-west-2.amazonaws.com/media/2026/03/FY-2025-Results-presentation.pdf

Includes MRE5, London main listing, Suliaq, and maybe more on the hydro project.

I guess they’ll now aim to bring some really positive stuff to coincide with the London Main Listing. I look forward to how the prospectus frames it, with Citigroup steering it, as a sales pitch.

Https://x.com/80mileplc/status/2064975324299878411?s=61&t=oNompJti_4wodoYegQGdCA

Really at a bit of a sweetspot now on the Lassonde curve, as production ramps up the share price should soon crank into gear too.

Read‘that shares guy’ about a month ago and have been meaning to join you ever since.

All Charles narratives re;- amrq begin with.. l am massively invested here… and this is promising!

He did suggest that this RNS was imminent but I was greedy in waiting for further downside. You can be pretty sure CA will be pumping this again in the coming weeks.

It occurs to me that the tailings from earlier production might be stockpiled for maintenance periods or other

as the 50% left behind ( difference between 61% previous versus ~95% going forward)might be worth a dollar or three. Hi Culpepper.. am unused to anything positive from you sir

Spud

'Mr. Olaffson and co are fundamentally successful strategists I would say'. I agree completely with this. In fact he (and co) are the polar opposites of board members of one of my previous AIM investments who were frankly liars and charlatans until the company went bust!. That did increase my innate cynicism (should that even be possible!) but these guys appear to be the 'real deal'. Now I just need to make some more money on the back of their skills and stratagy.............

All of this, sets the company up nicely towards the London Main Listing, from which, if all goes well, we might see previously by mandate currently excluded institutional buying, and if the requirements are fulfilled on greater volume, get index tracked for the first time.

Something, possibly, to play for there within the year.

Mr. Olaffson and co are fundamentally successful strategists I would say. So it’ll be all in their planning.

Very positive news. AMRQ has a great record of meeting its own benchmarks. I'm thinking there will be a bit of ongoing tweaking to the new plant, processes are never fully optimised and there is always ongoing work to squeeze a bit more out. This is implicit in the 90-95% range indicated, 5% of a lot of gold means its worth working toward the top end. The confirmation of previous guidance is also excellent news, with progress so far I wouldn't be amazed to see it beaten. Not much to be done about the gold price. Its definitely depressing the SP but I don't think its the whole story. Production being loaded towards Q4 could end up working in our favour I with a bit of luck!.

Reads very well and targets for 2026 reiterated. Time this was heading higher.

Floatation device live... Brilliant news and bang on schedule

I keep buying on the way down. indeed, fundamentals stay the same

There seems to be a lot of misunderstanding on various boards here regarding reasons behind the recent price drop for each individual miner. It’s simply due to the declining gold price.

Professional traders are not applying the current gold price to value the stock but are rather hedging in case it pulls back much further. Nothing to do with the fundamentals of any particular mining company.

The more volatile the stock, the greater the pullback.

Conversely, when (not if) sentiment returns, the opposite will happen and the stock will surge again.

Just in passing,it was about a year ago when on reverse demand, Amaroq raised £45m, having initially thought in terms of £30m, to accelerate development. At 85p.

And a gold price of $3300 - $3500.

We got Nalunaq. The alleged, why not, provider.

Then Black Angel, and Nanoq.

And other bits, Ileu being upfront as well for drilling. Hopefully, that’ll go well, but there’s the sonewhat self determined Nanoq and Black Angel to go on with.

Those’ll cost, sure, but better than the average, Boo-boo.

I’m sure you’re right, with better knowledge than I of these things - experience probably transfers over. I think that’s implicit in them talking about where they want to be in Q4, tinkering about and whatnot, improvement over Q2 and 3.

I do think its a good prospect all things considered. But if I get the chance to buy in a bit cheaper I'll take it. Interestingly if there is a delay in getting the floatation circuit working optimally I won't be that disturbed to be honest. Although it doesn't transfer to mining I have helped commission several processes in the chemical industry (back when I actually worked!). It took a lot of tweaking, analysis more tweaking more analysis and sometimes a lot of time to get to where you expect/hope to. I probably wouldn't know a flotation circuit if it was standing in front of me but I'm thinking there must be some engineering similarities.

You know, there’s all sorts of much ‘in house’ with Nalanuq paying for it.

I guess punters don’t believe it can be done, Nalunaq, flotation circuit revert rates, and all that.

I mean, if you’re looking for something from Greenland, then Amrq is next up - beyond Tanbreez I mean.

Still, the price is the price, sold down or not.

I look at the last oversubscribed placing, being told that it was a request from current investors, following due diligence and looking to the future.

AsvSuliaq, is now. If those interested buy into that, it must say they believe their Greenland investment to be sound, and with it, Amaroq.

Are they?

I hope they invest in Amaroq. Don’t think they’re interested in oil.

AMRQ and 80M both being sold down...

What do they have in common...?

Hmm....the Yanks are coming...

Well, MRE5 may, or may not lead to an uplift. I think it’ll be more in the flotation circuit and recovery rates.

It’s hard to see the MRE5 will fly in the face of what’s been said.

“I am very pleased to announce the 2025 exploration results at Nalunaq, which as well as confirming additional high-grade intersections, continue to strengthen our understanding of the depositб derisking near-term production and providing the geological confidence required to continue sustained mining activities. The confirmation of the Main Vein extension down-dip is also a key step in refining our exploration model and highlights the potential for further expansion beyond the areas drilled to date.

“These results further validate Amaroq’s strategy to target gold expansion within our portfolio and reinforce our belief in the long-term resource growth potential at Nalunaq. Our 2025 exploration campaign included targets across the identified southern Greenland gold belt which also contains the Nanoq project, on which we will be reporting results before the end of the year.”

Plan will remain on track.

Never noticed your bias CP!. I'd be a little happier if we got the MR5 update. At least once we have it I don't have to keep cynically wondering if someone doesn't like the look of what's in it. There's such high hopes here its easy to be disappointed at 'just OK' news.

And that’s about as strong a view on share price anticipation, who’s smart and who’s not, as I can recollect having been expressed by a CEO, sticking his neck out - and from a man as I perceive his measured approach. And should indicate the state of any unreleased information he may possess as an insider.

I’m biased to the upside, of course I am.