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LON:AMRQ

Amaroq Ltd

OPPORTUNISTIC BUY Analysis generated 2026-10-04 Market data as of 2026-11-13 Market data 2 days old 103.50p Basic Materials - GoldAWAIT ENTRY
ACTIONABLEMethodology gates passed
51

Position levels

Currenttoday
103.50p
Buy <=wait / entry
100.00p
Trim >=take some off
150.00p
Thesis breakA formal cut to the reiterated 25-35 koz 2026 production guidance, or disclosure...
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Scenario-weighted conviction

ProbabilityScoreContribution
Bull case17%100 / 10017.0
Base case49%62 / 10030.4
Bear case34%10 / 1003.4
Weighted conviction51 / 100 - OPPORTUNISTIC BUY

Top risks

  • 2026 Nanoq drilling programme completed with 4,728.9 metres across 33 holes and visible gold/copper in 88% of holes plus positive metallurgical test results
  • Reiterated 2026 gold production guidance of 25-35 koz with back-end loaded output and Q4 AISC of $1,250-1,450/oz
  • Upsized $70 million revolving credit facility signed
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Research is for informational purposes only. Not financial advice. All analysis reflects the date of publication.

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