Amaroq (TSX-V:AMRQ) expects to produce between 25,000 and 35,000 ounces of gold from its Nalunaq Mine in Greenland during 2026.
The Nalunaq operation has completed phase one commissioning and achieved steady state operations, positioning Amaroq to generate strong free cash flow in the current gold price environment.
CEO Eldur Olafsson says the company aims to accelerate development across its project portfolio.
“We have a very exciting opportunity set and are actively looking at ways to fast-track the various projects we are developing, in order to realise incremental net present value through accelerated execution,” Olafsson says.
The company is continuing discussions with third parties regarding independent financing for its Suliaq support services and logistics business, which aims to support mining operations and derisk resource development opportunities in Greenland.
Beyond the producing Nalunaq gold mine, Amaroq holds a 100% interest in the Black Angel zinc-lead-silver project in West Greenland. The company is evaluating potential redevelopment of Black Angel, historically one of Greenland’s highest-grade base metal operations.
Amaroq’s strategic metals portfolio includes advanced exploration at the Stendalen copper-nickel sulphide project and multiple targets within the Sava Belt, where the company is exploring for copper, nickel, rare earth elements and other critical minerals.
Copper prices hit record highs in Q4 2025 due to a combination of robust demand and recent supply disruptions. The price surged to a then record US$11,870 a tonne in the second week of December reflecting tighter supply and improved market sentiment.
High prices are expected to persist throughout 2026 without a near-term injection of supply or weaker demand, the Department of Industry, Science and Resources’ (DISR) reports in its December 2025 Resources and Energy Quarterly, as reported by this news service.
Edited by Adam Orlando
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Images: Amaroq
