Amaroq Ltd. · LSE:AMRQ
Amaroq — Q2 2025 Earnings Presentation
15 slides from Amaroq's earnings presentation, Aug 14, 2025
Slide 1: Q2-2025 Results
Q2-2025 RESULTS 14 AUGUST 2025 www.amaroqminerals.com | AMRQ Amaroq Ltd. is a Greenland-focused mining company engaged in the identification, acquisition, exploration and development of gold and strategic metals properties in Greenland.
Slide 2: Disclaimer and Technical Information
DISCLAIMER AND TECHNICAL INFORMATION The information contained herein has been provided solely for information purposes and does not purport to be comprehensive or contain all the information that may be required by recipients to evaluate Amaroq Ltd (the “Company”). The presentation and the informat
Slide 3: Q2 2025 Results Presenters
Q2 2025 RESULTS PRESENTERS Eldur Olafsson Ellert Arnarson Ed Westropp CEO CFO Head of BD and Corporate Affairs Slide: 2 Amaroq: Q2 2025 Presentation
Slide 4: Amaroq Minerals Today
Malmbjerg Black Angel Mo/Cu AMAROQ MINERALS TODAY Zn/Ag/Pb The Premier Gateway to Greenland’s Resource Potential Disko Ni/Cu/PGE Skaergaard Au/Pd/Pt Nalunaq A/S Greenland Gold Production and Exploration Gardaq A/S Maniitsoq Strategic Minerals Ni/Cu/Co JV Suliaq ApS Mining and Logistical Services Kva
Slide 5: Q2-2025 Highlights
Q2-2025 HIGHLIGHTS Maiden revenue, significant operational progress at the Nalunaq mine and oversubscribed £45m fundraise Continuation of trial mining, First gold exports were Sequential improvement in on-going construction and completed in Q2, generating processing plant rates commissioning of the
Slide 6: Q2 2025 Financial Results
Q2 2025 FINANCIAL RESULTS Canadian $ Millions Q2 2025 Q1 2025 Capital Assets 200.8 183.5 - Construction in Progress 195.3 177.7 Prepaid expenses and others 10.2 9.0 Supplies Inventory 6.1 5.7 Metals Inventory 9.2 7.8 Escrow for Environmental Rehabilitation 7.3 7.1 6-month ended 3-month ended Selecte
Slide 7: Liquidity and Assets
LIQUIDITY AND ASSETS Canadian $ Millions 30 June 2025 31 March 2025 Cash on hand 86.0 16.7 Undrawn Credit Facilities 8.9 23.7 Trade payables and accrued liabilities (19.8) (17.0) Short Term Liquidity 75.1 23.4 Total Assets 342.0 252.1 Equity Ratio 80.0% 78.3% Investment in Gardaq Joint Venture 14.2
Slide 8: Nalunaq A/S
NALUNAQ A/S Commissioning of Greenland’s Newest Mine Mine Metrics 484koz Au 30g/t Au Updated Mineral Resource Resource Grade 151koz Au 300tpd Maiden Indicated Resource Targeted Mining Rate LHOS 150 - ~50% Mining Method Head Count (Greenlandic) ~350koz Au ~10 Years Historical Production Mine Life 30
Slide 9: 2025 Exploration Programme Outline
2025 EXPLORATION PROGRAMME OUTLINE MINTURN Cu/Au Exploration Towards Scout Resource Drilling Copper Belt Target Drilling Programme Generation UKALEQ GARDINER TARGET NORTH REE/Nb Exploration NANOQ TARGET WEST ILLERFISSALIK JOSVA VAGAR RIDGE EAGLE’S NEST STENDALEN Stendalen Cu/Ni/Co Exploration Naluna
Slide 10: Creation of West Greenland Hub
Additional Regional Growth Opportunities CREATION OF WEST GREENLAND HUB Au Au Located within an active high potential exploration district REE BLACK ANGEL Kangerluarsuk (Zn, Pb, Ag) Former producing high grade room and pillar mine with significant in situ infrastructure and >176,000m of core drillin
Slide 11: Suliaq ApS – Formation of Specialist Mining Services
SULIAQ APS – FORMATION OF SPECIALIST MINING SERVICES The Key Tools to Unlock Mineral Potential in a New Frontier Management team and Drill Rigs Board Epiroc/Sandvik Surface Equipment Mining Fleet 120-man Remote Marine Vessels Camps Amaroq: Q2 2025 Presentation
Slide 12: Imeq ApS
IMEQ ApS Project progressing to pre-feasibility publication in Q4-25 H2 2025 activities: • Request approval for Trial Pits (Jul 25) Nalunaq Mine Hydro Benefits • Trial pit investigations (Aug/Sep 25) CAPEX Investment into Greenland @45M DKK • Finalise Design • Solicit binding offers for turbine, gen
Slide 13: Outlook
OUTLOOK Good operational progress has continued into Q3-25 – de-risking full capacity by YE 25 Continued up-time in mine As a result of bringing Enhanced liquidity position forward certain construction development coupled with has enabled acceleration of processing rates of ~145 t/d and commissionin
Slide 14: Q&A
Q&A Slide: 13 Amaroq: Q2 2025 Presentation
Slide 15: Contact Us
www.amaroqminerals.com CONTACT US AMAROQ LTD 3400 One First Canadian Place, PO Box 130, Toronto, On, M5X 1A4, Canada Eldur Olafsson, Chief Executive Officer AIM, TSXV, Nasdaq: AMRQ