Amaroq has produced approximately 12,000 ounces of gold at its Nalunaq mine in Greenland during the third quarter of 2026, reaching its targeted quarterly output level three months earlier than planned. The London- and Iceland-listed company reported total production of around 21,000 ounces for the first nine months of 2026, as the restarted operation moves toward more consistent commercial production. Amaroq had initially expected to reach quarterly output of approximately 12,000 ounces in the fourth quarter. The early achievement marks an operational milestone for Nalunaq, while the company has maintained its full-year production guidance of 25,000–35,000 ounces of gold.
The production update, did not include any new financing announcements. No additional mine funding from the European Union, the European Investment Bank or government sources was announced.
Flotation Circuit Supports Processing Improvements
Nalunaq’s production performance follows the commissioning of its flotation circuit earlier in 2026. The circuit has helped improve gold recoveries and stabilise processing operations, supporting the increase in output. Reaching the quarterly target ahead of schedule provides evidence of progress in establishing more consistent production at the restarted mine. The next operational test will be whether the operation can sustain output at this level during the fourth quarter.
Amaroq’s full-year guidance remains at 25,000–35,000 ounces, despite the mine reaching its original fourth-quarter production target in the preceding quarter. Production through the remainder of the year will determine how the operation performs against that annual range.
Nalunaq Provides an Operating Base for Greenland Exploration
Beyond its gold production, Nalunaq gives Amaroq an established operating presence in Greenland from which to advance a wider portfolio of mineral assets. The company controls exploration properties prospective for copper, nickel, rare earths, zinc, lead, germanium and gallium.
These assets place Amaroq across several mineral categories central to growing Western interest in Greenland’s critical-mineral resources. Consistent gold production could provide operational cash flow to support exploration and development across the portfolio, while strengthening the company’s position in discussions with potential external financiers and strategic partners. Nalunaq differs from many other Greenland mining projects, which remain at the exploration, feasibility or financing stage. The mine is already producing and processing ore, providing Amaroq with practical operating infrastructure and local experience in Greenland’s mining sector.
FTSE 250 Inclusion to Increase Investor Visibility
Amaroq is scheduled to join the FTSE 250, increasing its visibility among institutional investors. The index inclusion comes as the company reports progress at Nalunaq, although the production performance remains the principal operational development.
The key near-term measure for the mine is whether it can maintain quarterly output of approximately 12,000 ounces of gold through the fourth quarter. Sustained production would also provide an operating platform from which Amaroq can continue developing its broader Greenland portfolio of critical-mineral exploration assets.
