Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ) has announced its third quarter 2023 financial results, ending the period with $115 million in liquidity at the Amaroq group as of September 30, which includes cash, gold and strategic minerals businesses.
The independent mine developer said it has also successfully begun mine rehabilitation activities at Nalunaq during the period.
Amaroq also noted it ended 3Q with gold business working capital of $59 million, up from $41 million at the end of June.
"We remain focused on exploration across our strategic minerals targets, and during the quarter we completed a scout drilling programme across two key targets across the Sava Copper Belt and commenced a stratigraphic drilling programme at the Stendalen nickel-copper target, with results expected in 4Q," Amaroq Minerals CEO Eldur Olafsson said in a statement.
As well, the company stated it expects to receive further results from two additional sampled intersections at the 75 Vein on Nalunaq exploration in 4Q.
Amaroq Minerals is an independent mine development company with a substantial land package of gold and strategic mineral assets in southern Greenland. Its principal asset is a 100% interest in the Nalunaq Project, a development stage property with an exploitation license including the previously operating Nalunaq gold mine.
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