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Amaroq Minerals Ltd, owner of Nalunaq A/S with the gold project in South Greenland, has just signed a series of agreements for a total of USD 50.9 million in loan financing from Icelandic banks and a number of investors. This is a milestone for the development of a full scale production of the gold mine, including commencing trial production.
The financing package includes both convertible loans in relation to Amaroq Minerals Ltd. and credit facilities to Nalunaq A/S. Nuna Advokater has assisted Amaroq Minerals Ltd. and Nalunaq A/S as local legal advisor. We look forward to following the further development of the gold mine.
The Nalunaq license portfolio includes exploitation and exploration of the two known gold belts in South Greenland and a number of exploration licenses for strategic minerals. The company is listed on AIM (London), TSX Venture Exchange (Toronto) and Nasdaq First North Growth Market Iceland.
