Amaroq Sets 2026 Nalunaq Output Targets and Ramps Up Greenland Exploration

Amaroq Ltd. ( (TSE:AMRQ) ) has issued an announcement.

Amaroq Ltd. has issued 2026 production and financial guidance, targeting 25,000 to 35,000 ounces of gold from its Nalunaq mine, with recoveries expected to rise to as much as 90–95% once a Phase 2 flotation circuit is commissioned and production weighted toward the second half of the year. The company is guiding full-year cash operating costs of USD44–47 million and all-in sustaining costs of USD69–73 million, with lower unit costs anticipated in late 2026 as it shifts from contractors to an owner-operator model and completes key capital investments at Nalunaq.

The miner has set a base 2026 exploration budget of USD11 million, expandable to USD29 million, to fund resource growth and pre-development work across its Greenland portfolio, including the West Greenland Hub and Black Angel, the Nanoq gold project, regional satellite gold targets and several strategic metal prospects. Year-end 2025 unaudited figures show cash of C$27.2 million, inventory of C$24.2 million and net debt of C$15.3 million, positioning Amaroq to pursue an aggressive exploration and project acceleration strategy while advancing discussions on separate financing for its Suliaq support services and logistics business.

More about Amaroq Ltd.

Amaroq Ltd. is an independent mine development company focused on identifying, acquiring, exploring and developing gold and strategic metal assets in Greenland. Its flagship asset is the 100%-owned Nalunaq Gold Mine, now in production and ramp-up and supported by high-grade satellite gold targets, while its wider portfolio includes the Black Angel zinc-lead-silver project and various copper, nickel, rare earth and other critical mineral licences across South and West Greenland.

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