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It’s the same old narrative, isn’t it?

Manipulation, everyone out to buy Ggp, through selling more. Though if you follow that, despite late reporting, mms would be skint. If traded via mms, which theyre not all.

Time all that was packed in, and punters here viewed things realistically.

“The germanium, gallium piece is, in my opinion, much bigger news than people understand,” Olafsson told CNBC by video call.

I think, perhaps reading too much into it, that that may be indicative of his view on the share price.

Quite apart from the price of gold, the next catalysts have been well discussed. Including Telfer profitable LOM.

Whatever the immediate reaction to the Hav DFS, it will go on thereafter, based largely on the then disclosed Hav prospects.

Amaroq seeing fit to repeat that article.

https://www.linkedin.com/company/amaroqminerals/posts/?feedView=all

Good to see a bit of humour. It’s throwing up visions of Batman’s Penguins.

Proof of the pudding and all that, but it’s somewhat encouraging.

The fact that Mr. Olafsson, when there is no need to do so, even talks of dividends as early as 2027,from overall company profits, to analysts, who can come back to haunt him, if nothing else reinforces his confidence in the RNS statement that same morning.

“As we look to the rest of the year, we are entering the final capex period for Nalunaq, with clear visibility now on completion of all construction and commissioning of the mine by Q2 2026. Before the year end, we are expecting to receive the results from the key 2025 gold exploration programme across the Nanoq and Nalunaq resource upside projects. Amaroq is in a strong position as we head towards 2026 with a robust financial outlook from production operations and a project pipeline which will deliver value enhancing opportunities across the decade, funded by positive cash flow from Nalunaq.”

And the planned London main market listing next year, bringing greater analyst attention and so on won’t hurt, and with Suliaq and the Hydro business shaping up.

I still think Suliaq may eventually be spun off, as they said it will ‘initially’ trade as a subsidiary, with its own board. If so, we’ll have shares in it.

Going to be a big year, pivotal, for Amaroq, one way or another.

On EBITDA, It’s bound to be a bit loose, isn’t it?

Depends largely on successful execution. And gold price, against how AISC pans out ( less than 2000 $US anyway )

But what Mr Olafsson said in Q3 analyst earnings call, for 2026 is summarised.

“Looking forward, Amaroq Minerals has set ambitious goals for future production and exploration. The company aims to produce 6,000-7,000 ounces of gold in 2025, with potential to reach 40,000-50,000 ounces annually at full capacity. An exploration spend of CAD 15-30 million is planned for 2026, with a target of achieving positive cash flow by the same year. The company is also considering dividend distributions between 2027 and 2029.”

That’s the immediate aspiration, without adding any Nanoq ore and going to 450tpd as I see it.

And the other projects, hopefully, will be moving up the value curve.

I should not have referred to repayment from Nalunaq ‘operational’ profit when commenting on repayment.

It was in my mind that that profit will come first.

LTM EBITDA for the company will, of course, take at least what it means.

The debt facility was granted in July 2024. To support bringing on Nalunaq.

Taking Amrq from explorer/developer to producer ( unrecognised by poster, who refers to it as exploreco, and whose ‘sum’ is therefore rendered inappropriate )

Terms are now improved. Pending the ability and decision to pay it off, from operating profit, whilst working at its other assets.

Hard to see how improvement to an existing facility BECAUSE Amrq is moving into operational profit on Nalunaq can be negatively viewed.

There’s a fair bit of doom and gloom about in world markets too, with mutterings of recession.

So it seems to me, one must look even closer to the fundamentals, on which, if things go well, at Nalunaq, in due course uplifted by Nanoq (and all gold miners won’t be treated equally, based on fundamentals ) Amrq will be reasonably well positioned. Nalunaq infrastructure capex pretty much done.

Assuming gold continues to be viewed as a safe haven asset.

And interest building in other than gold.

All the best.

As we have both remarked, the last MRE cut off grade ( with very high grade ore ) was 5.9gms per ton, allowing for gold at $2100 per. oz.

So though I expect all miners to remain conservative on gold price, there’s currently a fair bit of wriggle room.

Gold equity followers will be aware that there’s been some relative pressure on miner’s prices, around ‘concerns’ over the gold price ( holding currently $4000 though )

I had expected the possibility of a drop here today, based on what I’ve seen elsewhere. But so far, the price has reasonably held.

My thoughts turn to Mr. Wyvills comment that Nalunaq can be quite profitable at $2000 gold.

Further that, though some way off, diversification across metals/RRE, will be of obvious benefit. And Nalunaq/Nanoq cores are awaited.

There are buyers at around this price. On my limited access ( I do not have level 2 ) yesterday and the day before I was able, had I wished, to sell large numbers of shares in one transaction within the spread.

Amrq is, just so far anyway, showing relative strength around this price.

On the matter of finance,generally, because it’s always in the mind, and for what it’s worth, Mr. Olafsson has publicly stated that with Nalunaq coming on line, he sees no need for a further raise to support operations

I suppose, unless as suggested by Mr. Archer, it is for strategic reasons, advancing projects.

In part,this is a follow up to last Novembers RNS, as Amrq starts to produce greater revenue.

Amaroq Minerals Announces Key Agreements in Preparation for Gold Production in Nalunaq - 07:00:00 15 Nov 2024 - AMRQ News article | London Stock Exchange

Well, you keep saying all that stuff.

It doesn’t help.

It’s what the price is, now, sometiime never. Maybe youre too much of a fan boy. Seen that used, is all.

Don’t fret so much.

Normally, the thought of a takeover would be played on a bulletin board.

Strange board, this.

‘A miracle miner out of a mere original minnow about to get snapped up by sharks. ‘

Apparently, you view that as possible, sometime, as I do.

I don’t view Wyloo as a shark, though, but Forrest as a supporter, maybe taking his time to decide.

And Wyloo played the Hav/Telfer acquisition to extreme advantage, with Newmont.

Again. You’re wrong.

Just trying to influence the board towards the definititives.

Rather than the, which as it goes on, imaginative.

It’s all about Havieron, though years off.

In the meantime it’s Telfer.

Chalrkes Archer is right.