Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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It was a dilution from new issue of shares from fundraise
For the record.
https://www.lse.co.uk/rns/AMRQ/holdings-in-company-r1ou0462snjyyhx.html
Doesn’t say so as an event altering shareholding, but as they went down through on 3rd. November, more than likely it is a dilution re. that days share issue. Haven’t checked previous holdings.
Held over past month. Past performance not a guide for future. But fully funded.
All of us waiting on something new and positive to see us alright. Nothing more than a reflection on the strategy so far, strategic minerals strategy with the gold.
For the record.
https://www.lse.co.uk/rns/AMRQ/holdings-in-company-ziyxjgwkgf72yfw.html
Three in there.
The first one a bit unusual. Property leasing co. in Lichfield going into strategic minerals. Going up through 3% to 7% with the placing and new shares I suppose, rather than down in %age terms as a result.
https://find-and-update.company-information.service.gov.uk/company/11768662/officers
Amaroq is "fully financed for the next few years" after raising £48mln this summer, he adds.
And it all comes back to that.
"This Fundraising will be instrumental to driving growth throughout our exciting portfolio in Greenland, where we occupy a leading position in what is one of the last frontiers for Western governments and companies to secure the strategic minerals that will prove vital in the coming decades. On completion of the Fundraising, the funds raised will enable us to progress the development of our flagship Nalunaq gold project, one of the highest-grade gold deposits in the world, whilst accelerating exploration of our strategic minerals assets to provide raw materials needed for the energy transition."
For the record.
https://www.lse.co.uk/rns/AMRQ/update-on-listing-on-first-north-iceland-yit58ucjjn2haee.html
That’s the nub of it.
“We are honoured to be listing on First North Iceland. From 1 November we will be able to offer our shares to a larger marketplace, in particular to Iceland, a growing economic market where the Greenland growth story is a well followed current topic. Trading Amaroq IDRs on First North will offer Icelandic investors exposure to Amaroq's high-value precious and strategic energy transition minerals asset portfolio in South Greenland.”
"The close cooperation between Greenland and Iceland paints a very strong growth picture. Both countries are harnessing their natural energy resources sustainably, demonstrating that self-reliance in energy is essential for economic growth and stability. The free trading agreements recently agreed between Iceland and Greenland are testimony to the goodwill of enterprise between the jurisdictions."
Steady buying today so far. Whipped it down to pick up some at 35.25 before resuming normal.
This article is a good summary: https://www.marketwatch.com/story/amaroq-minerals-intends-to-raise-gbp30m-for-greenland-gold-project-271666199533?mod=markets
Significant placing at little discount to current or historical prices; noteworthy support and warrants going on a watch list.
RNS out
TORONTO, ONTARIO - October 17, 2022 - Amaroq Minerals Ltd. (AIM, TSXV: AMRQ - formerly AEX Gold), an independent mine development company with a substantial land package of gold and strategic mineral assets covering an area of 7,866.85 km2 in Southern Greenland, announces that the updated National Instrument 43-101 report pertaining to the Nalunaq project, has been filed on the Company's SEDAR profile (www.sedar.com).
The Technical report details the updated Mineral Resource Estimate (MRE) for its flagship Nalunaq Gold project, prepared by SRK Consulting (UK) Limited (SRK). This update, termed MRE3, was announced on September 6, 2022 and is reported in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards on Mineral Resources and Mineral Reserves (May 2014).
The updated MRE is summarised in Table 1 below.
Highlights
· Total Inferred Mineral Resource of 355.0Kt @ 28.0g/t Au for 320Koz gold, reported according to CIM Definition Standards by SRK.
· This constitutes a 30% increase in contained gold compared to the previous estimate reported in June 2020 and a 50% increase in average grade.
· The Nalunaq project now sits within the top 2% in terms of global reported gold resource grades.
· Due to the high grade nature of the Nalunaq deposit, it is relatively insensitive to cut-off grade and remains robust at a range of gold prices.
Another video of James Gilbertson describing the updated MRE in more detail https://youtu.be/NmQj75-XmwA
thanks JCEP
Paul
Nalunaq is only a fraction of the total area. You are correct that total across the whole area is expected to be in excess of 1.5m ounces
I'm confused - is this good or bad news?
I thought they were expecting a much larger resource estimate (?) Didn't E mention1-2m ounces? Or is there more work to be done on the resource expansion?
Great update. 28.0g/t Au is really high grade
Amaroq Minerals - VP Exploration Discusses the Regional Exploration Programme: https://www.youtube.com/watch?v=pC3j6VCJkeA
Just in passing. On occasions there are relatively substantial trades going through, apparently sales. In view of the minimal impact on the price, it seems they are being picked up along the line.
https://www.lse.co.uk/rns/AMRQ/2021-regional-exploration-programme-z5v8jtujd4xnaqw.html
In a nutshell.
“I am delighted with the solid progress our team is making in investigating opportunities within our extensive land package. The mineral exploration process of data collection, interpretation, target selection and reduction is crucial to ensuring we concentrate our efforts and resources on only the best opportunities for value creation.
We continue to analyse our portfolio of mineral licences in Southern Greenland closely, prioritising activities aimed at making new gold and strategic mineral discoveries within an evolving geological district, and maximising potential for geographical synergies with our existing portfolio. This project generation cycle is now bearing fruit, leading to exciting new discoveries that will rapidly become tomorrow's mineral development projects."
I'll continue to quietly and steadily accumulate over time. I'm certainly not going anywhere! ATB.
Bodes not boxes !