Amaroq (LSE:AMRQ) told investors that gold production at its Nalunaq mine in southern Greenland reached approximately 12,000 ounces in the third quarter, hitting a target it had originally guided for the fourth quarter a full quarter early.
The Greenland-focused mine developer produced around 21,000 ounces over the first nine months of the year and reiterated full-year guidance of 25,000 to 35,000 ounces.
FTSE Russell will add Amaroq to the FTSE 250 Index from market open on 8 October.
Amaroq commissioned the flotation recovery circuit at Nalunaq's Phase 2 processing plant earlier in the summer, which the company credits with lifting recoveries and supporting the acceleration.
"Achieving our goal of 12koz of gold production, originally guided for Q4 2026, a quarter earlier, is a testament to the work and effort our teams have put in place and the quality of the resource base at Nalunaq," said Eldur Olafsson, chief executive of Amaroq.
The flotation circuit had pushed recoveries to around 90% in July, against a historical range of 50% to 70% under gravity-only processing, as the company ramps toward its Nalunaq all-in sustaining cost guidance of $69 million to $73 million for the year.