Member Info for Culpepper

I don’t know any more than anyone else.

I don’t think, actually, it’s either June or September. I think, though it’s not as according to the Capital Markets day spiel as it came out, those months are index inclusion months - which they would like, I suppose, if they can qualify on volume and so on.

I begin to think that last could just be September, if main market adds the liquidity, the required volume.

Plainly, they will have all that in mind, with at the moment predominantly local institutions, pension funds, to work for.

As has been said, them selling will eventually have done so.

There’s no need for any raise here, though opportunity for a strategic raise to present. If things go as planned, and they are at the moment, there is a financial roadway through 2027, by which time things should have well-changed. Q4 on.

Provided they can execute as planned, as for all such.

As I see it, it’s quite simple. They will either execute, why not, or the totally unexpected happens.

1 It’s being sold down for whatever reason. That may continue, whatever the news.

2. Investors at large have yet to accept the Amaroq team can execute, and achieve Q4 objectives and ongoing from there

Are they?

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

My tuppence worth.

Gold was traditionally the safe haven. Oil sucked money out. Along with bonds. 8% assured is not to be sneezed at.

Sometime, it will revert, to ‘normal’.

All the best.

Bye.

Just one more post, as I read this.

I see no reason a decent, proven share will have a liquidity problem.

And the illuminati here, backed up by lesser mortals who are not generally as bullish, see gold as anything up to $10000. I think that’s rather pushing it, nobody really knows.

Hello. I’m still in with a core holding, as Greatland advances toward Havieron, paid for from existing resources at no detriment to investors.

I suspect the ‘fireworks’, any sudden movements are over, punters hopes for Telfer being largely fulfilled, with regard to financing Hav. Of course, we anticipate more on that, which can now only provide more than originally thought, with Greatland a reliable prospect for the future, steadily advancing toward the primary objective,, Hav on commercial production 2 or 3 years time. And ‘extra’ cash in the kitty, might provide the means either to ameliorate the hub and spoke model, or as an alternative, some form of shareholder reward.

If thoughts of a dividend are on the table, I’m ambivalent - it can be increased for individuals following a share buyback, or otherwise. Greatland is slotting into its place amongst its peers, and with Hav, will cement it.

All the best.

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.

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.

The best I have is this.

https://thatstocksguy.substack.com/p/amaroqs-future

Just before an hour in, and I don’t have a Bloomberg terminal, you will hear Mr. Olafsson give his views, and say the smart money, known names, is buying and buying and …. buying.

I strongly doubt he’s disingenuous in the way he presents the situation. Topped off by govt-backed EIFO doing due diligence in their Suliaq proposed investment.

On earlier comments, there’s no doubt Amaroq is being sold down, for whatever reason, and has been for some time - there’s no obvious reason for that based on what the company has been saying, which I have no reason to doubt.

There’s that. And world events.

Charting - a suitable RNS or two have the potential at least to change things.

Talking Charles Archer, and liking a touch of punter confirmation bias, he says this in his June review yesterday.

‘ I interviewed Eldur at Amaroq this month. This is a man on a mission and when this stocks hits the Main board and Citi clients start buying up the stock - a combination of technical buying, corporate milestones and state-level support being achieved will send it.

Greenlandic investing is perhaps meant to induce serious stress but this remains my least stressful long-term position because the CEO, assets and capital are all rock solid.

Sentiment will turn.’

It’s been proved one has to have taken a longer view on this one. It did take a run up, I think in hindsight based on USA interest, at the time it was floated. That may, or may not, come to fruition. Mr. Archer believes it will come ( for Black Angel, I suppose )

It now seems the case that institutions, and a balance of punters, are waiting for proof of stable state production from Nalunaq and London Main listing, the latter perhaps allowing some institutions to enter - with index inclusion if/when Amaroq can hit the criteria.

There is always execution risk, but on what I know, it has substantially decreased with them mining and processing. I can’t think they’ll prove incapable of getting the flotation circuit working this quarter, and building up to their 4th quarter mining and recovery rate, and the revenue and free cash flow going with it.

Things are proceeding to plan. That much is evident from the last, the interview with Charles Archer, and from Capital Markets Day. Old Archer’s got even more bullish, now talking about £2, maybe 3. So he has no inkling of anything other than going very well. We make of it what we will. I guess his higher figures may take into account matters beyond the potential catalysts I took the liberty of mentioning on 29th - various drilling results, Nanoq maiden MRE - he sets great store by that.

Lots of talk around gold price, Iran, all that. I hear it, and pass on, seeing no reason why Amaroq can’t achieve it’s proving up of targeted assets for this year, from free cash flow and such of the RCF as it may decide appropriate. 4th quarter on, all going well, why not, FCF quite amazing for this junior with its land-bank and prospects.

Potential nearer term catalysts.

There’s a fair bit more, drill results as year progresses, Suliaq operational, and so on.

MRE 5.

The 2025 drilling campaign indicates several specific takeaways for the resource estimate:

* Higher Confidence: Underground drilling was highly successful at converting Inferred to Indicated resources in the Mountain Block, stabilizing near-term mine planning.

* Expanded Envelope: Surface scout drilling confirmed that the Main Vein extends over 700 meters further down-dip than previously modelled.

* Exceptional Grades: Standout surface intersections—including historic-level intercepts such as \(1,840 \text{ g/t}\) gold over \(0.5\text{m}\)—validate the presence of localized high-grade zones. [1]

London Main Listing.

Edward Rostropp, Chief Development and Strategy Officer. ‘ I mean all the work is going on at the moment, as Anna alluded to, where we're pushing very hard. Clearly, there are 2 windows. There's the summer window and then which we can use the full year numbers remain relevant for and then there's the autumn window. We're pushing very hard. I mean we'd probably like the summer window. It doesn't really make a difference to us, but we'd like to do it sooner rather than later because all the work is going in at the moment. So, we hope to have it during the summer window.

Final commissioning of Nalunaq commissioning circuit, greater recovery rates, increasing production, leading to free cash flow from Nalunaq.

Philip Brown. ‘Going into 2026, we're going to continue that ramp-up. The aim is to get up to that stable 300 tonnes per day throughput. Within the next 1 to 2 weeks, we should be commissioning Phase 2 of the plant, which will provide us with a second saleable product and a second revenue stream. Heading into quarter 3, we start to realize revenue from that second revenue stream. It also means that our recoveries of the ore body are in the high 90s. And by year-end, we want to be sitting at $1,250 to $1,450 per ounce (AISC )which is world-class.’

I should say, for perspective, they’re generally looking at their 2028 on budget heads, critical raw materials.

Just don’t know, do you though, if or when something might happen with them or USA, the latter of which Mr Archer seems to think will come in one form or another.

Mr.Estelles meeting Mr. Olafsson, amongst others. See post on LinkedIn.

https://www.linkedin.com/in/robertoestelles/?originalSubdomain=be

I think they said at Capital Markets they were receiving enquiries. I think they’ve publicly yet to appoint a board. They will, I think, phase purchases of equipment in, with their own needs foremost in the first instance, to advance resources and value across the portfolio in the way this drilling season has been planned, if that can be achieved.

‘The Company will continue to provide updates as Suliaq advances towards operational launch, secures additional financing and expands its service offering, with a targeted financing close in Q2/Q3 2026.’

Just now, Suliaq is constrained by that.

I understand companies can’t hire rigs except for use by certified drillers - if you don’t have them, you have to contract the drilling operation.

It’s open to suggestion that as Suliaq, based at West Greenland Hub, buys its kit, expands its offering, it will include the rigs together with certified operators cognisant of Arctic drilling.

Greeenroc, thankyou, seems an example of market direction, as mentioned by Mr. Olafsson.

I don’t have Bloomberg access. Very interesting to hear ‘recognisable names ‘, can be seen to be steadily buying, for those that have it.

Took the liberty of changing my own header, seeing it’s rather different from Mr. Archer’s usuals.

Mr. Olafsson is just so measured, isn’t he, with shareholders and prospective shareholders in mind.

Https://substack.com/app-link/post?publication_id=1504413&post_id=198688015&utm_source=post-email-title&utm_campaign=email-post-title&isFreemail=true&r=4xupfa&token=eyJ1c2VyX2lkIjoyOTg3MjQ2NjIsInBvc3RfaWQiOjE5ODY4ODAxNSwiaWF0IjoxNzc5ODc2NTI4LCJleHAiOjE3ODI0Njg1MjgsImlzcyI6InB1Yi0xNTA0NDEzIiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.iOTNIXadNgdTeOOT79CxhTvZjNQ3OjP_jK7FXl6to9s