Amaroq Ltd. · LSE:AMRQ
Amaroq — Amaroq Minerals — FY2023 Earnings Presentation
27 slides from Amaroq's earnings presentation, Mar 26, 2024
Slide 1: FY 2023 Results Presentation
FY 2023 RESULTS PRESENTATION 26 March 2024 www.amaroqminerals.com | AMRQ Amaroq Minerals 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 Minerals Ltd (the “Company”). The presentation and the
Slide 3: Presenters
PRESENTERS Eldur Olafsson Jaco Crouse Joan Plant James Gilbertson Founder, President & CEO Chief Financial Officer, Executive Vice VP Exploration Board Member Board Member President Slide: 2 Amaroq Minerals: Corporate Profile
Slide 4: Our Purpose: Creating a Greenlandic Legacy
OUR PURPOSE: CREATING A GREENLANDIC LEGACY Empowering Greenland to become a strategic supplier of gold and the materials needed to power a greener future Feeding the Global Bringing Long-term Building a Green Transition Value to Greenland Responsible Future Meeting the universal critical Investing i
Slide 5: Amaroq Minerals Ltd Resource Development Strategy
AMAROQ MINERALS LTD RESOURCE DEVELOPMENT STRATEGY Unlocking value from Greenland’s gold and strategic mineral wealth Shortest, lowest risk path to cashflow via the re-development of Nalunaq Nalunaq cashflow to self-fund and unlock the true mineral potential of Southern Greenland Targeting world clas
Slide 6: Executing on Our Strategy in 2023 - Full Cycle Asset Portfolio
EXECUTING ON OUR STRATEGY IN 2023 - FULL CYCLE ASSET PORTFOLIO Amaroq’s leading mineral licence acreage in South Greenland provides a robust portfolio of attractive projects across the life-cycle, each with strong potential for gold, base metals and strategic minerals Amaroq’s Geology and Discovery
Slide 7: 2023 Corporate Overview
2023 CORPORATE OVERVIEW Amarog Minerals
Slide 8: FY 2023 Highlights
FY 2023 HIGHLIGHTS Well-funded for Nalunaq development programme Transfer to Iceland Admission to OMX C$75M to accelerate Scored “Good” in Nasdaq Main Market Iceland 15 Index mining at Nalunaq Reitun’s ESG assessment Most successful drilling Discovery of new nickel- Porphyry copper and program at Na
Slide 9: Financial Results 2023
FINANCIAL RESULTS 2023 Canadian $ Millions 2023 2022 2023 represents an inflection year for Amaroq by reaching technical feasibility and commercial viability on the flagship Exploration & evaluation expenses $6.6 $12.7 Nalunaq Project and transitioning to the Nasdaq Main Market Listing in Iceland Co
Slide 10: Liquidity and Assets
LIQUIDITY AND ASSETS Canadian $ Millions 2023 2022 Despite a decrease in the available cash balance from end of Cash on hand $21.0 $50.1 2022 to end of 2023, the Company’s short-term liquidity has Undrawn Credit Facilities remained virtually unchanged. - Revolving Credit Facility $25.0 - Despite the
Slide 11: Nalunaq Gold Project Update
| Amarog Minerals ALUNAQ GOLD PROJECT UPDATE 7),
Slide 12: Nalunaq: Q4 2023 Project KPIs
NALUNAQ: Q4 2023 PROJECT KPIS Project report as of 31 December 2023 aligned with updated project scope post February 2024 fundraise Q4 2023: Key Statistics ✓ Permitting: Public consultation for the Environmental Impact Assessment (EIA) and Social Impact Assessment (SIA) for Nalunaq concluded 33 ONE
Slide 13: Nalunaq – Future Operating Mine Layout
NALUNAQ – FUTURE OPERATING MINE LAYOUT MINING FRONT 1 Underground Production, Surface Processing and Camp and Port MOUNTAIN BLOCK MINING FRONT 2 TARGET BLOCK HARBOR CAMP TRIAL MINING AREA TEMP FUEL STORAGE MOUNTAIN MINE ROAD BLOCK MINING FRONT 3 VALLEY BLOCK 450 LEVEL TARGET BLOCK 300 PORTAL TAILING
Slide 14: Nalunaq Permitting Update
NALUNAQ PERMITTING UPDATE Expected completion of EIA and SIA in H1 2024 Environmental Impact Assessment (EIA) Public consultation closed on schedule on 1st March 2024. EIA will be approved by 30th June 2024. Social Impact Assessment (SIA) Public consultation closed on schedule on 1st March 2024. SIA
Slide 15: Exploration Update
Amarog Minerals EXPLORATION UPDATE
Slide 16: 2023 Exploration Summary
2023 EXPLORATION SUMMARY Largest and most successful exploration programme to date Provisional 2024/25 Exploration Plans 10,076 4,729 5,196 ~13,000m Line kilometres of Meters drilled Meters planned across 4 geophysics Assays received across 5 sites targets 11 4 up to 7 New drill rigs ordered Licence
Slide 17: Key 2023 Exploration Outcomes
KEY 2023 EXPLORATION OUTCOMES Exploration success across multiple targets and commodities ✓ Confirmed extension of high-grade mineralization beyond mining area at Nalunaq with grades up to 182g/t Au over 0.69m. ✓ Discovery of the high grade 75 Vein at Nalunaq with up to 256g/t Au over 0.5m ✓ Confirm
Slide 18: Nalunaq Resource Growth
NALUNAQ RESOURCE GROWTH 75 Vein Exploration Proposed underground drilling targeting 75vein Developing Out the Newly Discovered High-Grade Vein Newly discovered mineralized vein in hanging wall above the Main Vein with a similar extent, thickness and grade. Up to 256g/t Au over 0.5m (above Mountain B
Slide 19: Nanoq Potential Continues to Grow
NANOQ POTENTIAL CONTINUES TO GROW At Nanoq the prospective area has more than doubled. Repeated parallel hosting structures have been defined to the north and west of the known surface mineralisation with all targets open to the southwest. Amaroq is busy further interpreting these results and design
Slide 20: Unearthing Porphyry Discoveries Across the Copper Belt
UNEARTHING PORPHYRY DISCOVERIES ACROSS THE COPPER BELT North Sava (Cu) Sava (Cu/Mo/Au) Cu-bearing South Greenland unmapped layered Copper Belt Johan Dahl Land intrusion Target North Target West Magnetic and radiometric anomalies similar to Sava Cu/Au grades in Numerous ‘epithermal’ system Porphyry/I
Slide 21: Stendalen – New Nickel/Copper Discovery
STENDALEN – NEW NICKEL/COPPER DISCOVERY B′ A significant new magmatic sulphide discovery with the potential to host a major Ni-Cu-Co deposit with over 140m of magmatic sulphides intersected in the maiden scout drillhole. A Intersected magmatic sulphides have reached high tenors, suggestive that grad
Slide 22: Provisional 2024 Exploration Plans
PROVISIONAL 2024 EXPLORATION PLANS Regional Sava (Target West) Additional Porphyry and Nanoq Core drilling and geophysics Ni/Cu target generation Positioning to allow targeting high grade areas of drilling in 2024/25 mineral system Kobberminebugt Additional greenfield target Fuller review of data an
Slide 23: 2024 Outlook & Upcoming Newsflow
2024 OUTLOOK & UPCOMING NEWSFLOW
Slide 24: 2024 Milestones / News Flow
2024 MILESTONES / NEWS FLOW NALUNAQ NANOQ VAGAR SAVA STENDALEN REGULATORY Exploration JAN 2023 Results Process Plant update construction 2023 Results Q1 FEB start EIA & SIA Consultation FY 2023 MAR Quarterly Results Construction Update EIA & SIA Interpretation APR conclude Update Q1 2024 Q2 MAY Quar
Slide 25: Summary
SUMMARY Fully funded to undergo the initial phases of the growth plan Cornerstone Nalunaq Unlocking value from development programme Secured funding to Greenland's gold and progressing towards first accelerate Nalunaq strategic mineral wealth gold in 2024 with cash flow development and with active 2
Slide 26: Q&A
Q&A Slide: 25 Amaroq Minerals: Corporate Profile
Slide 27: Contact Us
www.amaroqminerals.com CONTACT US AMAROQ MINERALS LTD 3400 One First Canadian Place, PO Box 130, Toronto, ON, M5X 1A4, Canada Eldur Olafsson, Chief Executive Officer AIM, TSXV, Nasdaq: AMRQ