Market's view on Amaroq Minerals
Published on April 2024
- Amaroq Minerals Ltd., with assets in Southern Greenland, announced a significant new Ni-Cu discovery at its Stendalen Project.
- Amaroq Minerals is gearing up for gold production later this year, with their CEO confirming they are on target, on budget, and fully funded.
- Concerns were discussed regarding Solgold needing £20 million in new funding in the next three months just to stay afloat, in contrast to companies like Amaroq and KEFI, which are perceived as fully funded for their mining operations.
- Solgold was mentioned as having multiple major shareholders and being viewed by some as a potential takeover target.
- There are positive sentiments towards both Amaroq and KEFI for being well-funded and having lower-cost operations compared to Solgold.
- A stock watcher mentioned a successful investment in Amaroq, having bought shares at around 30p, and recently reduced his position at 72p while planning to hold the remaining shares until gold production commences.
- Amaroq recently raised approximately £44 million, receiving strong support from Scandinavian pension funds, which will help accelerate mining at Nalunaq and allow continued investment in the exploration portfolio.
- A stock watcher expressed satisfaction with Amaroq, having added shares following positive commentary, highlighting the company’s profitability and low sustaining costs at its Nalunaq deposit.