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Culpepper
The only reason I jumped to the margin call reason was that I spoke to a local broker in Iceland who had that view. It being a small market they are very clued up on who, what and when.
The high is 84p. You may be right, but I see no reason to jump to margin calls. Perhaps profit taking. But it doesn’t matter really.
Another Icelandic company called Alvotech is down 20% in last week. I bet there were margin calls that forced selling of Amaroq. That would explain the sells in Iceland a few days ago. No smoke without fire !
Separately, and previously.
Consensus from 2 of the Canadian Metals and Mining analysts is that Amaroq Minerals is on the verge of breakeven. They expect the company to post a final loss in 2024, before turning a profit of CA$24m in 2025.
“Process plant engineering was 77% complete at the end of Q4 2023 based on the updated project scopeConstruction”
“…This work lays the foundation for safe and efficient trial mining to commence at the end of Q1 2024 or early Q2 2024.”
“The Company expects to mine first gold in 2024 and plans to provide a progress update with timings for guidance for the project at an investor event in June 2024. First production guidance for 2025 will be provided towards the end of 2024.”
And they topped up funding post year end by £44m in February to accelerate the process.
Steel delivery for processing plant: https://www.marinetraffic.com/en/ais/home/centerx:-45.3/centery:60.2/zoom:9
Https://www.lse.co.uk/rns/AMRQ/2023-full-year-financial-results-zd04qsbuudjuz1s.html
Price taking a dip today on all venues. Results tomorrow.
Iceland buying 83, Canada 86 current exchange rates.
26th March.
Not as previously reported on Share News.
Https://www.suli.gl/jobs/rastofomradet-gb/greenland/kommuneqarfik-sermersooq/5x-driller-assistantsqillerinerni-ikiortaasussat-331588663?jobId=331588663&list=SearchResultsJobsIds&index=6&querydesc=SearchJobQueryDescription&viewedfrom=1
This was posted on the JAY board. Not that many companies drilling in Greenland and Bluejay Disko drilling is still not confirmed (I don't think Kobold will focus on this in 2024). Its in line with the Amaroq plans to grow quicker and drill more in 2024 (see https://youtu.be/9aMlG7SyyKM?si=L7mOn1mzRbcdX1l9&t=599)
Not sure if Amaroq used Arctic works services before
25th March
And Canada at 84.
Iceland buying at 86.
For the record. First Pecos selling down.
Done without noticeable harm to share price.
https://www.lse.co.uk/rns/AMRQ/holdings-in-company-9a2uakyevsab3rb.html
Https://www.londonstockexchange.com/news-article/AMRQ/directorate-change/16372041
And Canada at 84.
Iceland buying at 85 current exchange rate.
Over 2.8M volume in Canada and 3.8M in Iceland.
Low volume. Iceland buying at 86p. May be an aberration.
Canada buying at 83.
Ask gone to 84. Iceland already buying at 84 this morning. Just a snapshot. Canada yet to open.
Amaroq Minerals’ Stendalen nickel-cobalt project potential highlighted by analysts:
https://www.proactiveinvestors.co.uk/companies/news/1042341/amaroq-minerals-stendalen-nickel-cobalt-project-potential-highlighted-by-analysts-1042341.html
Gildi Pension fund, largest in Iceland.
https://www.lse.co.uk/rns/AMRQ/holdings-in-company-x7no2d7o8rcatb3.html
Canada just opened. Low volume. Buying at 82p current exchange rate.