First gold was poured at the Nalunaq mine in November 2024. Credit: Amaroq Minerals
Greenland-focused Amaroq Minerals (AIM, TSXV: AMRQ) has raised £45 million in an oversubscribed financing round to support its strategy of tapping into the island’s rich mineral resources, which have garnered interest from the world’s superpowers, including the US.
As announced earlier this week, Toronto-headquartered Amaroq aimed to raise at least £30 million (approximately C$55.5m) through the issuance of shares priced at 85 pence (C$1.57) each. The funds would be used to support the company’s production expansion plans at its flagship Nalunaq gold mine in southern Greenland, as well as create a new operations hub in the western part of the island.
On Thursday, Amaroq announced that the offering was oversubscribed to £45 million (C$83 million), with the issuance of nearly 53 million new common shares,…
