Amaroq Minerals Ltd. Npv (DI) (AMRQ)

Sector:

Mining

Index:

FTSE AIM 100

 91.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 121.00
  • 52 Week Low: 56.50
  • Currency: UK Pounds
  • Shares Issued: 401.03m
  • Volume: 459,664
  • Market Cap: £364.94m
  • Beta: 0.02

Amaroq raises £27.5m in oversubscribed placing

By Josh White

Date: Wednesday 04 Dec 2024

LONDON (ShareCast) - (Sharecast News) - Greenland-focussed mining company Amaroq Minerals announced the completion of an oversubscribed fundraising on Wednesday, raising gross proceeds of £27.5m to be used in accelerating its portfolio of gold and strategic mineral assets.
The AIM-traded firm said the funds were secured through the conditional placing of 32,034,664 new shares at 86p each.

It said the offering exceeded the initial £20m target, reflecting strong demand from new and existing institutional investors.

Amaroq said the proceeds would be directed towards accelerating growth opportunities across Amaroq's portfolio of gold and strategic mineral assets in Southern Greenland, and strengthening its working capital position.

The new shares would represent about 8.1% of Amaroq's enlarged share capital.

It said the fundraising was supported by Panmure Liberum and Canaccord Genuity, who acted as joint bookrunners and brokers for the UK placing.

In Iceland, Landsbankinn, Acro verðbréf and Fossar fjárfestingarbanki served as joint bookrunners, with Landsbankinn also acting as an underwriter.

The new shares were expected to begin trading on AIM, the Icelandic Exchange and the TSX-V on 16 December.

"I would like to thank all investors, both existing and new, for their strong support in this significantly oversubscribed fundraising," said chief executive officer Eldur Olafsson.

"With a number of exciting catalysts ahead of us, including the expected optimisation and ramp-up to commercial production at Nalunaq and advancement of our wider exploration programme, we look forward to providing further updates on key operational work streams in due course."

At 1045 GMT, shares in Amaroq Minerals were up 2.68% at 89.12p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

AMRQ Market Data

Currency UK Pounds
Share Price 91.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 121.00
52 Week Low 56.50
Volume 459,664
Shares Issued 401.03m
Market Cap £364.94m
Beta 0.02

AMRQ Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
8.36% below the market average8.36% below the market average8.36% below the market average8.36% below the market average8.36% below the market average
34.92% below the sector average34.92% below the sector average34.92% below the sector average34.92% below the sector average34.92% below the sector average
Price Trend
81.57% above the market average81.57% above the market average81.57% above the market average81.57% above the market average81.57% above the market average
63.91% above the sector average63.91% above the sector average63.91% above the sector average63.91% above the sector average63.91% above the sector average
Income Not Available
Growth Not Available

AMRQ Dividends

No dividends found

Trades for 28-May-2025

Time Volume / Share Price
16:37 55,000 @ 90.93p
14:51 100,000 @ 90.00p
16:40 55,000 @ 91.00p
12:53 50,000 @ 91.50p
16:35 19,000 @ 91.00p

AMRQ Key Personnel

CEO Eldur Ólafsson
CFO Ellert Arnarson

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