Amaroq Ltd. · LSE:AMRQ
Amaroq — Q3 2024 Earnings Presentation
22 slides from Amaroq's earnings presentation, Nov 14, 2024
Slide 1: Q3 2024 Results Presentation
Q3 2024 RESULTS PRESENTATION 14 November 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: Amaroq Investment Case
AMAROQ INVESTMENT CASE Amaroq Minerals Nordic resource development strategy CORE BUSINESS PILLARS Development & Exploration Logistics & Renewable Mining Servicing Energy Shortest, lowest risk path to 1 cashflow via the re-development of Nalunaq Nalunaq cashflow to self-fund and 2 unlock the true gol
Slide 4: Greenland Supports the Main Growth in the Nordics
GREENLAND SUPPORTS THE MAIN GROWTH IN THE NORDICS Amaroq – largest licence holder in South Greenland Members of The European Self-governing country within Raw Materials Alliance the Kingdom of Denmark (ERMA) with +90 Operating closely associated with the EU, Companies although not a member Supportiv
Slide 5: Q3 2024 and Post-Period Highlights
Q3 2024 AND POST-PERIOD HIGHLIGHTS Continued progress at First Gold Production at Off-take and refinery Nalunaq in mine Nalunaq imminent in Q4 agreements in place development and 2024 process plant construction Post-period Conversion Successful Completion Site visit conducted by of US$22.4M of the 2
Slide 6: Q3 2024 Financial Results
Q3 2024 FINANCIAL RESULTS Canadian $ Millions Q3 2024 Q2 2024 Capital Assets 117.26 85.54 - Construction in Progress 111.11 80.88 Prepaid expenses and others 17.81 19.59 Supplies Inventory 6.83 7.77 Escrow for Environmental Rehabilitation 6.87 5.72 9-month ended 6-month ended Selected Cash Movements
Slide 7: Liquidity and Assets
LIQUIDITY AND ASSETS Canadian $ Millions 30 Sep 2024 30 Jun 2024 Cash on hand 25.94 31.66 Undrawn Credit Facilities - Revolving Credit Facility (USD 18.5M Expiry: September 1, 2025) - 25.30 - Cost Overrun Facility (USD 10.0M Expiry: September 1, 2025) 13.51 13.68 Trade and other payables (13.50) (8.
Slide 8: Gold Portfolio Nalunaq A/S
GOLD PORTFOLIO NALUNAQ A/S Amaroq Minerals: Corporate Profile
Slide 9: Amaroq's Gold Portfolio
AMAROQ’S GOLD PORTFOLIO TARTOQ NANOQ NANORTALIK GOLD BELT EAGLE’S NEST 2,013 km2 12 VAGAR RIDGE Current Licence Holding Active project Sites NALUNAQ GOLD MINE 1 (Nalunaq) Producing Assets Slide: 8 Amaroq Minerals: Corporate Profile
Slide 10: The Nalunaq Gold Mine
THE NALUNAQ GOLD MINE Slide: 9 Amaroq Minerals: Corporate Profile
Slide 11: Nalunaq: Q3 2024 Project KPIs
NALUNAQ: Q3 2024 PROJECT KPIS Project report as of 30 September 2024 Q3 2024: Key Statistics Permitting: The Company is working with stakeholders on the Impact Benefit Agreement (IBA), which it aims to have in place by the end of 2024. Contracting & Procurement: Procurement of all key contract p
Slide 12: Nalunaq Key Metrics
NALUNAQ KEY METRICS FIRST GOLD Q4-2024 Q1-2025 Q2-2025 Q3-2025 Q4-2025 Ave. Processing Rate (t/day) 130-150t/d 140-160t/d 190-210t/d 240-260t/d 260-300t/d Plant Recovery 55-65% 65-70% 70-80% 80-90% 90-94% Phase 1 (Gravity) Total Capital Cost C$145.5m Phase 2 (Flotation) Cash Outlay C$2.1m C$4.0m C$3
Slide 13: Nalunaq Resource Growth
NALUNAQ RESOURCE GROWTH Main Vein Resource Growth Underground Current Mineral Resource 2024 Surface Drilling Drilling 320Koz @ 28 g/t Au 2.89Km MOUNTAIN Exploration Target 2024 Underground Drilling BLOCK 2Moz 3.7Km (Planned) TARGET BLOCK Ave Thickness 0.7m Planned Underground Highest Grade Intersect
Slide 14: Nanoq Gold Project
NANOQ GOLD PROJECT NANOQ Further High-Grade Projects within the Nanortalik Gold Belt Historical results up to 175g/t Au over 0.8m JOKUM’S SHEAR Nanoq, along with Jokum's Shear, sits on a 20km structural corridor within the Nanortalik Gold Belt. Originally discovered by Goldcorp in 1997 and re- disco
Slide 15: Strategic Minerals Gardaq A/S JV (51%)
STRATEGIC MINERALS GARDAQ A/S JV ( 5 1 % ) Amaroq Minerals: Corporate Profile
Slide 16: Amaroq's Strategic Mineral Portfolio
AMAROQ’S STRATEGIC MINERAL PORTFOLIO 1 COPPER – Proven Porphyry Potential JOHAN DAHL LAND 2 NICKEL – Voisey’s Bay Analogy Copper TARGET NORTH 3 RARE EARTH – Gardar Provice Copper/Gold TARGET WEST Copper JOSVA Copper NUNARSUIT /Nickel/REE 4,246 km2 >20 LICHTENAU STENDALEN Copper/Nickel Current Licenc
Slide 17: 2025 Exploration Growth Strategy
2025 EXPLORATION GROWTH STRATEGY Future Programme – Results Dependant Upcoming Exploration News flow 75 Vein Resampling Results Gold Strategic Minerals Nalunaq 2024 Surface Drilling Results Nalunaq Outcrop Sampling Results Nanoq Scout Drilling Results Nalunaq New Copper Definition & Infill Target De
Slide 18: Servicing and Hydro
SERVICING AND HYDRO
Slide 19: Servicing Greenland
SERVICING GREENLAND Providing sustainable uplift for Greenland via increased supply chain transparency, availability and cost savings Growing interest and investment in Greenland’s mining industry (20-30% annual growth) which is set to continue ServiceCo Initial asset list identified and prioritized
Slide 20: Renewable Energy Strategy
RENEWABLE ENERGY STRATEGY To provide renewable energy option to Amaroq’s mining and exploration operations Nalunaq o Process Plant – Hydroelectric power to reduce diesel usage o Mining – in discussion with equipment providers to acquire battery run equipment to reduce ventilation and diesel requirem
Slide 21: 2024-25 Milestones / News Flow
2024-25 MILESTONES / NEWS FLOW Q4-2024 Q1-2025 Q2-2025 Q3-2025 Q4-2025 Q1-2026 Q1 Q1 NALUNAQ 1st Gold Phase 1 MRE4 Phase 2 Steady State MRE5 Commission Commission Operation EXPLORATION Exploration Start of Initial Exploration Results Exploration Results Results REGULATORY, SERVICES/ENERGY Quarterly
Slide 22: Q&A
Q&A Slide: 21 Amaroq Minerals: Corporate Profile