Amaroq Ltd. moved from AIM to the LSE main market Monday, with CEO Eldur Olafsson saying the listing should broaden access to institutional capital as the company advances its Greenland mining and exploration work.
Amaroq Ltd. shifted its listing to the London Stock Exchange main market Monday, leaving the junior AIM board behind. The gold and copper miner, which also trades on Nasdaq Iceland and the OTCQX, said its shares were admitted to the Official List and to trading on the LSE's main market at 8 a.m. London time, with AIM trading cancelled at the same moment.
The move marks a formal graduation for a company that has been producing since 2023 from its Nalunaq gold mine in southern Greenland. Trading under the AMRQ ticker on all three venues, Amaroq now sits in the equity shares (commercial companies) category of the FCA's Official List, a step up from AIM's lighter regulatory regime.
CEO Eldur Olafsson said the main market listing "represents an important step in Amaroq's evolution as a producing mining company" and reflects progress across the business. In prepared remarks, he said the platform should boost visibility among international investors and broaden access to long-term institutional capital as the company advances mining, exploration and infrastructure work in Greenland.
UK Business Secretary Jonathan Reynolds welcomed the listing as "a strong vote of confidence in the UK economy and our capital markets," calling it an example of the government's Critical Minerals Strategy in action. The strategy aims to build more resilient supply chains for minerals deemed strategically important.
No new shares were issued as part of the listing. The existing ISIN of CA02311U1030 remains unchanged. At admission, the company had 466,244,132 common shares outstanding, with none held in treasury, giving it the same number of voting rights.
Shareholders were advised to consult their own professional advisers on the consequences of the move.
The graduation comes as Amaroq continues to develop its Greenland portfolio beyond the Nalunaq mine, which restarted production in 2023 after a decade of care and maintenance. The company also holds exploration-stage projects covering gold, copper, zinc and nickel across the island.
Amaroq's Alpha Score sits at 29 out of 100, labeled Weak on the LSEGY stock page, reflecting the early-stage nature of its broader project pipeline against a single operating asset.
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