Amaroq Minerals Q2 2024 Financial Results

Amaroq Minerals Ltd., an independent mine development company with significant gold and strategic mineral assets in Southern Greenland, announced its Q2 2024 financial results. The company will host a conference call for analysts and investors today at 14:00 BST.

CEO Eldur Olafsson highlighted progress at the Nalunaq project, anticipating first gold production later this year. The company also received approval for its Environmental and Social Impact Assessments from the Greenlandic Government.

Amaroq's Q2 2024 liquidity stands at $62.2 million, with $50.5 million in working capital for its gold business. The Gardaq Joint Venture has available liquidity of $13.5 million. The company secured an increased and extended debt financing package with Landsbankinn.

Permitting for Nalunaq has advanced with the approval of key assessments, and procurement is 92% complete. Construction is progressing with significant milestones achieved in plant and mine development.

Exploration activities continue across the company's gold and strategic mineral projects, with notable progress at Nalunaq and Stendalen. Amaroq remains on track to deliver first gold in Q4 2024.