Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mine development company with a substantial land package of gold and strategic mineral assets in Southern Greenland, reminds investors that it will hold a Capital Markets Day on Thursday, June 13th, from 14:00 pm to 16:00 pm GMT (10:00 am to 12:00 pm EDT and 15:00 pm to 17:00 pm BST). The event will be held at Landsbankinn‘s headquarters at Reykjastræti 6 and the doors will open at 13:30 pm, with a reception to be held after the event.
The presentation will be broadcast live to enable remote access via the following link: https://streymi.landsbankinn.is/
For those joining via the webcast, please submit any questions over email to amaroq@camarco.co.uk
A recording will be available following the event.
Operational update:
- Development activities at the Nalunaq project are progressing well with trial mining expected to commence at Mountain Block in H2 2024 and Target Block in H1 2025;
- Initial mining rate target of 40-60 t/d, ramping up to 130-150 t/d at each block during H2 2025;
- First gold pour expected during Q4 2024;
- Plant recoveries are expected to increase from commencement of production to target levels of 90-94% by the end of 2025;
- Remaining cash outlay for gravity and flotation plant:
- Gravity – C$25-30m in Q3 2024;
- Flotation – C$2.5m in Q4 2024 and C$6m in H1 2025;
- Broader South Greenland exploration programme continues to target strategic minerals and rare earths under well-funded Gardaq JV;
- Amaroq to enhance local procurement options:
- Development of local supplier offering within Greenland with the establishment of ServiceCo to reduce supply chain risk and increase transparency;
- Strategy to transition towards clean energy sources:
- Harnessing renewable energy sources in Greenland and develop renewable energy infrastructure to power operations and local communities.
Eldur Olafsson, Amaroq CEO, commented:
“The Amaroq management team and I are pleased to present our plans for bringing Nalunaq into production, accompanied by our broader gold and strategic minerals programme within Greenland. I look forward to providing more detail during our event later today.”
Enquiries:
Amaroq Minerals Ltd.
Eldur Olafsson, Executive Director and CEO
eo@amaroqminerals.com
Eddie Wyvill, Corporate Development
+44 (0)7713 126727
ew@amaroqminerals.com
