Amaroq Minerals - a projects and gold progress Buy. From HotStockRockets...

Tom Winnifrith Bearcast HERE: sorry BBMs but it seems the prayers worked

The gold price per ounce is now up to around $2,500 yet most gold stocks remain unloved. Here that looks to also reflect small/mid cap stocks generally also remaining unloved but there is now increasing commentary of that general value opportunity and we consider there is extra opportunity with such gold stocks as the gold price trend suggests the $2,500 psychological barrier being sustainably topped bringing subsequent potential to drive real sector excitement.

BBC caught ramping penny dreadful mining shares again: It is Anglesey Mining this time HERE

Greenland-focused Amaroq Minerals (AMRQ), at a 62p offer price, £203 million - currently equating to below $270 million - market cap, has recently issued an update emphasising “advancing smoothly” Nalunaq project progress and “on track to achieve first gold production later this year”. That is particularly significant as there is the potential for that to ramp up to throughput of around 100,000 tonnes per year likely meaning significantly above 50,000 ounces of production per annum and possibly heading towards 100,000 and $1,000 per ounce+ profit potential in the current gold price environment. That suggests possibly heading towards $100 million per annum free cashflow potential.

Tom Winnifrith Bonus Bearcast HERE: a few thoughts about ProBiotix and its results today

A latest quarterly update noted expanded credit facilities to helps its development there and also further development and exploration work at Nalunaq and ‘strategic minerals’ joint venture exploration – with particularly three drill rigs and a “semi-permanent” 40 person camp mobilised for a now-commenced expanded drilling programme informed by promising ground geophysics results at the Stendalen copper-nickel discovery.

Vindication HERE: Tingo found guilty of fraud in absentia

We consider resulting news flow and further progress towards Nalunaq production could really spark the shares in a more favourable sector environment – and particularly from current levels after the shares already exceeded 80p earlier this year. A writer here owns some shares and, as sentiment changes, we consider a 100p+ share price quite quickly possible.

This first appeared on HotStockRockets - for a new hot share tip from the HotStockRockets team JUST OUT TODAY for just £6.06 click HERE

Filed under: Amaroq Minerals, Bearcast, Anglesey Mining, ProBiotix, Tingo, HotStockRockets

2024-08-29 15:04:08

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