- Amaroq Minerals (TSXV:AMRQ) signs a deal with Auramet to purchase all gold produced from the Nalunaq mine in South Greenland
- The company also notched an agreement with Metalor Technologies, which will process gold at its Swiss refinery
- Amaroq plans to offer locally sourced gold to the Greenland community through a UK refinery partnership
- Shares of Amaroq Minerals are up 0.70 per cent to C$1.45 as of 10:08 a.m. ET
Amaroq Minerals Ltd. (TSXV:AMRQ) reveals several key agreements as it prepares to begin gold production at its Nalunaq gold mine in Q4 2024.
In a news release, the company stated it has entered into an offtake agreement with Auramet International, a leading global precious metals trading and finance company.
Under the agreement, Auramet will purchase all of the gold produced from Amaroq’s Nalunaq gold mine in South Greenland, providing a reliable sales channel for the company’s output.
This agreement also includes various financing options, such as pre-export financing, which will enhance Amaroq’s financial flexibility as it advances its operations.
Amaroq stated it also secured an agreement with Metalor Technologies SA, a Swiss-based company specializing in the evaluation and refining of precious metals.
Under the terms of this agreement, Metalor will process all the doré alloy produced from Nalunaq at its state-of-the-art refining facility in Switzerland. This partnership ensures Amaroq will have access to high-quality refining services and helps streamline the gold production process.
“We are pleased to have signed these important agreements with established partners in the industry, providing us with the necessary support and expertise to ensure the successful delivery and sale of gold produced from Nalunaq at competitive industry terms,” Ellert Arnarson, CFO of Amaroq Minerals, said in a news release.
Arnarson added that the company is committed to offering the local community the opportunity to buy gold sourced from Nalunaq. He explained that Amaroq will be partnering with a UK refinery in order to do so.
Amaroq Minerals is focused on the exploration and development of gold and strategic metal assets in Southern Greenland. The company’s flagship asset is its 100 per cent interest in the Nalunaq Gold Mine, which iw a past-producing mine located in South Greenland, with significant exploration potential in the surrounding area.
In addition to the Nalunaq project, Amaroq holds a diversified portfolio of assets, including advanced exploration projects at Stendalen and the Sava Copper Belt. These projects focus on the discovery and development of strategic metals such as copper, nickel, rare earth elements, and other minerals critical to the global economy.
Shares of Amaroq Minerals are up 0.70 per cent to C$1.45 as of 10:08 a.m. ET.
Join the discussion: Find out what everybody’s saying about this stock on the Amaroq Minerals Bullboard investor discussion forum, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top image: Shutterstock)
