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Amaroq Ltd. ( (TSE:AMRQ) ) has issued an update.
Amaroq has set 2026 production guidance for its Nalunaq gold mine at 25,000 to 35,000 ounces, with early-year output of 7,000 to 10,000 ounces rising as a second processing phase lifts recovery rates from about 60% to as high as 95%. The company expects head grades of 14 to 15 g/t and plans to shift Nalunaq from contractor-led operations to an owner-operator model in the second half, aiming to cut unit costs and reach an all-in sustaining cost of $1,250 to $1,450 per ounce in the fourth quarter.
For 2026, Nalunaq operating costs are budgeted at $44 million to $47 million and total sustaining costs at $69 million to $73 million, alongside about $14 million of additional growth capital to complete plant commissioning and expand site infrastructure. Amaroq plans an exploration budget of $11 million, potentially rising to $29 million depending on markets, targeting resource growth and infrastructure at Nalunaq, Nanoq, and its West Greenland Hub while advancing copper, nickel, rare earths and IOCG prospects, underpinned by a year-end 2025 cash balance of C$27.2 million, inventories of C$24.2 million and net debt of C$15.3 million.
More about Amaroq Ltd.
Amaroq Ltd. is a Greenland-focused mining company whose core business is identifying, acquiring, exploring and developing gold and strategic metal assets. Its flagship operation is the 100%-owned Nalunaq gold mine, now in production and ramp-up, supported by a pipeline of high-grade satellite gold targets across South and West Greenland and a portfolio of base and critical metal projects including the Black Angel zinc-lead-silver project and licences at Stendalen and within the Sava Belt.
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