{"id":109768,"title":"Amaroq (TSX-V:AMRQ AIM:AMRQ)closes debt financing, advancing its flagship Nalunaq gold project in Greenland.","publisher":"Share Talk","author":"sharetalk","published":"2023-09-04T14:25:38+00:00","modified":"2023-09-04T14:25:38+00:00","canonical_url":"https://www.share-talk.com/amaroq-tsx-vamrq-aimamrqcloses-debt-financing-advancing-its-flagship-nalunaq-gold-project-in-greenland/","markdown_url":"https://www.share-talk.com/amaroq-tsx-vamrq-aimamrqcloses-debt-financing-advancing-its-flagship-nalunaq-gold-project-in-greenland.md","json_url":"https://www.share-talk.com/amaroq-tsx-vamrq-aimamrqcloses-debt-financing-advancing-its-flagship-nalunaq-gold-project-in-greenland.json","category":"Mining","categories":["Mining"],"tags":["Amaroq Minerals","AMRQ","Danish Growth Fund","Eddie Wyvill","Eldur Olafsson","Europe","Gold","Greenland","Greenland Venture Fund","Jaco Crouse","Kvanefjeld mine","Nalunaq","Narsaq","North America","Reykjavík","Sava Copper Belt","URANIUM","Warwick Morley-Jepson"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"**Amaroq Minerals Ltd (TSX-V: AMRQ, AIM: AMRQ)** has successfully finalized its anticipated US$50.9 million senior secured financing.\n\nThe mining developer, with gold and other crucial mineral holdings in Southern Greenland, clarified that this financing is made up of US$18.5 million in senior debt term loans from credit facilities offered by Landsbankinn and Fossar Investment Bank.\n\nAdditionally, it comprises US$22.4 million in convertible notes: US$16 million to ECAM LP, US$4 million to JLE Property, and US$2.4 million to Livermore Partners.\n\nIncluded is an overrun loan from JLE Property Ltd, amounting to as much as US$10 million within a revolving credit agreement.\n\nAmaroq plans to channel the funds from these notes and facilities towards the evolution of its Nalunaq mining licence. This evolution will transition from a bulk sample trial to phased, full-scale gold doré production on location, expediting the development of a processing facility and its related infrastructure.\n\nEldur Olafsson, CEO of Amaroq, remarked, “This is a significant step for Amaroq Minerals as we gear up for full-scale operations at the Nalunaq gold initiative.\n\nA big thank you to our backers and financing collaborators.” He added, “With an adept team by our side, we’re fast-tracking our move to trial mining ventures. The next phase of Nalunaq’s operations is what we’re eagerly anticipating next.”"}