Amaroq Minerals Ltd. is set to hold a Capital Markets Day in Iceland to provide an update on its operations. The event will be held at Landsbankinn's headquarters and will also be broadcast live for remote access. The company's Nalunaq project is progressing well, with trial mining expected to commence in the second half of 2024. The first gold pour is anticipated during Q4 2024, with plant recoveries expected to increase to target levels by the end of 2025. Amaroq is also focusing on enhancing local procurement options and transitioning towards clean energy sources.
Eldur Olafsson, CEO of Amaroq, expressed his enthusiasm for presenting the company's plans for bringing Nalunaq into production and its broader gold and strategic minerals program within Greenland. The company is also actively engaged in a broader South Greenland exploration program targeting strategic minerals and rare earths. Additionally, Amaroq is working on developing renewable energy infrastructure to power its operations and local communities.
Amaroq Minerals' principal business objectives include the identification, acquisition, exploration, and development of gold and strategic metal properties in South Greenland. The company's principal asset is a 100% interest in the past producing Nalunaq Gold mine, which is expected to go into production towards the end of 2024. The corporation has a portfolio of gold and strategic metal assets in Southern Greenland, covering the two known gold belts in the region, as well as advanced exploration projects at Stendalen and the Sava Copper Belt exploring for strategic metals such as copper, nickel, rare earths, and other minerals.