Amaroq (AMRQ) Mining Forum Americas 2026 summary

Strategic positioning and operations

• Holds over 8,000 sq km of licensed acreage, making it the largest license holder in Greenland.

• Operates the Nalunaq gold mine, with 2026 production guidance of 25,000–35,000 ounces and first gold poured in November 2024.

• Commissioned gravity and flotation circuits, raising recoveries from 60% to over 90%.

• Maintains a diversified portfolio including gold, zinc-lead-silver, rare earths, and iron ore projects.

• Institutional investors, including Nordic and Greenlandic funds, hold significant ownership.

Resource development and exploration

• Nalunaq mine's current resource stands at 504,000 ounces, with a 10.6% increase in the indicated category.

• Summer drilling at Nalunaq averaged 42.8 grams per ton, supporting high-grade continuity.

• South Greenland Gold Belt includes the Nanoq project, with over 10,000 meters drilled and infrastructure development underway.

• Acquired the past-producing Black Angel (Maarmorilik) mine, now with 4.4 million tons of high-grade zinc-lead-silver and critical minerals.

• Ongoing greenfield exploration targets rare earths and IOCG deposits in northern Greenland.

Production, expansion, and cost guidance

• Nalunaq mine produced 9,000 ounces in H1 2026, trending toward annual guidance.

• Actual milled grades are exceeding plan, with potential for over 50,000 ounces at steady 300 tpd run rate.

• Processing plant designed for 450 tpd, with studies to expand to 600 tpd using ore sorting and satellite deposits.

• All-in sustaining cost guidance for Q4 is $1,250–$1,450/oz, with annual AISC around $70 million.

• High grades contribute to a favorable cost profile compared to industry peers.