Business
2026 Production and Financial Guidance and Ex...
Amaroq Ltd. has announced its 2026 guidance, projecting gold production between 25,000-35,000 ounces, with H2 2026 expected to be stronger due to the Phase 2 flotation recovery. The company targets full-year cash costs of USD 44-47 million and all-in sustaining costs of USD 69-73 million, with Q4 2026 AISC anticipated between USD 1,250-1,450 per ounce. A non-sustaining capital investment of approximately USD 14 million is planned for Nalunaq. The exploration budget is set at a base case of USD 11 million, with potential to increase to USD 29 million, focusing on resource growth across its Greenlandic portfolio, including the West Greenland Hub & Black Angel, Nanoq, and satellite gold targets. The company reported a year-end 2025 cash balance of CAD 27.2 million and net debt of CAD 15.3 million. Disclaimer*
About this update from Amaroq Ltd.
[{"type":"text","content":"\n\n \n \n\n 2026 Production and Financial Guidance and Exploration Update\n\nReykjavík, Feb. 25, 2026 (GLOBE NEWSWIRE) -- Amaroq Ltd.(“Amaroq” or the “Company”) 2026 Production and Financial Guidance and Exploration Update TORONTO, ONTARIO – 25 February 2026 – Amaroq Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ, OTCQX: AMRQF), an independent mine development corporation focused on unlocking Greenland’s mineral potential, is pleased to announce its 2026 guidance and exploration outlook. 2026 gold production guidance range and performance metrics FY2026 gold production from Nalunaq is estimated to be between 25-35k oz.The annual range is determined by feed grade, the start-up timing for Phase 2 flotation recovery in Q2 2026 and takes into account planned maintenance days, as well as contingencies.Gold production and sales are expected to be back-end weighted in 2026, as flotation recoveries are fully introduced in H2 2026, with H1 2026 production likely to be in the 7-10k oz range.Projected average recoveries for Phase 1 gravity circuit of ~60%, with total recoveries anticipated to increase up to 90-95% upon successful commissioning of the Phase 2 flotation circuit.The Company anticipates feed grade to average between 14-15 g/t Au, with fluctuations expected during the year as different sections of the Mountain Block ore body are mined. 2026 financial guidance Targeting full year cash cost of operations of USD44-47m and all-in sustaining cost (“AISC”) of USD69-73m. Investment in sustaining capital is mainly attributed to sustaining underground development and drilling, together with maintenance capital for plant and camp.Increased gold production in H2 2026, as well as an anticipated reduction in costs, driven by transition from contractor to owner-operator model, including drilling, processing plant and camp support functions; resulting in unit costs being lower in H2 2026 relative to H1 2026, with Q4 2026 AISC expected to be within a range of USD1,250-1,450 per oz and Q4 2026 production to be in the range of 10-12k oz.A further ~USD14m of Nalunaq non-sustaining capital investment is expected, largely associated with the completion of the processing plant construction and commissioning, investments in underground mining equipment and adding to existing camp facilities. 2026 Exploration budget and high-level programme Comprehensive exp...