I asked Amaroq (AMRQ) the other day if there had been any insider selling as had been suggested. I was told no. Today I put it to the company that, in fact, its head of exploration James Gilbertson had sold his entire holding of just under a million shares in two tranches on 26 June and again last week.
Amaroq (AMRQ) has announced the commencement of its 2025 exploration campaign, emphasising “active drilling at our flagship gold assets of Nalunaq and Nanoq, and regional work expanding our understanding of the copper, nickel, and rare earth elements opportunities”. That suggests various share price catalyst opportunities in the next few months.
Amaroq (AMRQ) has announced the commencement of its 2025 exploration campaign, emphasising “active drilling at our flagship gold assets of Nalunaq and Nanoq, and regional work expanding our understanding of the copper, nickel, and rare earth elements opportunities”. That suggests various share price catalyst opportunities in the next few months.
I am not asked but told that something MUST be wrong at Amaroq Minerals (AMRQ) as the shares have fallen back from the recent placing price of 85p to just 74p. The share price does not lie, we have wholly efficient markets which is why Warren Buffett does not exist.
Writing previously on the “Proposed equity fundraising and acquisition of additional licences to create a new West Greenland Hub” by Amaroq Minerals (AMRQ) we stated that we consider Amaroq to be well-managed and it has demonstrated an ability to fund and progress projects. The fundraising has now further demonstrated that with it “significantly oversubscribed” despite being at only a very limited discount. The shares were 86.5p but, at 85p, not £30 million but £45 million was raised and, although nicely up from a 73p offer price tip, the following is why we still consider there significant near and long-term value potential here.
Writing just earlier this week on the “Proposed equity fundraising and acquisition of additional licences to create a new West Greenland Hub” by Amaroq Minerals (AMRQ) we stated that we consider Amaroq to be well-managed and it has demonstrated an ability to fund and progress projects. The fundraising has now further demonstrated that with it “significantly oversubscribed” despite being at only a very limited discount. The shares were 86.5p but at 85p not £30 million but £45 million was raised. The enlarged market cap is c£380 million.
At 86.5p post placing Amaroq (AMRQ) is valued at c £400 million. I think that its Nalunaq gold mine which will be onstream, within months , and its existing gold exploration sites and base metals operations justify a market cap of at least £700 million, 151p. But what of the Black Angel mine bought today for £10 million. It was once the flagship asset of Angel Mining which went bust but before that Boliden mined it very profitably for 17 years. So what is it worth?
Amaroq Minerals (AMRQ) has announced a “heads of terms” agreement with construction industry-expert family office JLE Group on a special purpose vehicle for support services and supplies to the Greenland resources sector, including for JLE to invest £4 million for a 10% shareholding in the special purpose vehicle and an option to proportionally increase that up to £12 million. The following is why we continue to target these shares rising back above 120p in the near-term and quite possibly materially.
Amaroq Minerals (AMRQ) has announced a “heads of terms” agreement with construction industry-expert family office JLE Group on a special purpose vehicle for support services and supplies to the Greenland resources sector, including for JLE to invest £4 million for a 10% shareholding in the special purpose vehicle and an option to proportionally increase that up to £12 million.
Shares in Amaroq (AMRQ) closed in London up 2p at 78p. But then as we slept, in Canada they rocketed ahead by 108% to C$2.91 ( 156p in UK money) prompting a share suspension ahead of an Amaroq statement. I said they were cheap!
Gold company in Greenland Amaroq Minerals (AMRQ) has issued a report on its first quarter of the year and also an update on its “strategic minerals” JV exploration. It adds “good progress so far in the second quarter within our plant commissioning and particularly in our mining operations”, so what’s the current position compared to a 76.5p share price, £310 million market cap?
Amaroq Minerals (AMRQ) has announced its results for 2024 and an update on planned exploration activities for 2025 as well as a “Significant Increase in Nalunaq Mineral Resource Estimate”. That sounds like further good news from a 90p share price It is, but as explained here, the Icelandic market has puked since Friday and so Amaroq shares are easier thanks to selling, partly to cover margin calls. That should be seen as an opportunity as Iceland will calm down and Amaroq’s fundamentals are better than ever.
Amaroq Minerals (AMRQ) has announced results from its 2024 exploration at Nalunaq in Greenland and states that it now “looks forward to providing the updated Mineral Resource Estimate expected at the end of this quarter” and is “confident in our ability to define additional high-grade zones and optimise our production strategy”. The following is why.
I can forgive Amaroq (AMRQ) for collaborating with the enemy, that is to say helping the BBC put together an article HERE. The company has also just released its own internal video number three. It is, as ever, very slick. At 111p I have more than doubled my money but as gold hits $2,780 today and with a year of exploration and a production ramp up ahead I believe that I will almost double my money again from here. Enjoy
Amaroq Minerals (AMRQ) has announced that its 50% owned Gardaq JV which focusses on non-gold targets, mainly copper and rare earths, in Greenland has been awarded another license: the Johan Dahl Land licence (MEL 2025-17), expanding its interest in the South Greenland copper belt.
Amaroq Minerals (AMRQ) has announced that sampling at the Eagle’s Nest target 31 kilometres from its Nalunaq gold mine in Greenland has identified two distinct sub-parallel gold veins and gold grades up to 54.5g/t, with “initial geochemical results suggestive of a similar mineralisation style to Nalunaq”. This looks to further demonstrate the exploration, as well as production, potential we’ve been emphasising here. And this is critical for Nalunaq on its own justifies a premium to the current share price but it is the massive exploration potential that will attract potential corporate bidders within a couple of years. The faster Amaroq explores, with results like these, the more a bidder will have to pay.
The shares were 87p at the close valuing Amaroq Minerals (AMRQ) at £285 million. Then came the news, a proposed placing raising £20 million at 86p. It was largely underwritten, including the directors putting in £2.1 million, and we now discover that it was massively oversubscribed and £27.5 million was raised. Almost no discount, real boardroom support, not that much dilution, that is what you call a real placing by a quality play.
