The miner produced roughly 9,000 ounces of gold in the first half, above the midpoint of its guidance range, as the newly commissioned flotation circuit at Nalunaq lifted recoveries toward 90%.

Amaroq has begun its 2026 resource drilling programme at the Nanoq gold project in South Greenland, targeting a maiden resource estimate later this year.

Amaroq has begun scout diamond drilling at its Minturn prospect in Northwest Greenland to test at depth the high-grade iron mineralisation found in 2025 surface sampling.

James Gilbertson, VP Exploration, said the underground drilling strategy "has evolved beyond traditional resource drilling and is now a core part of our mining operation to maintain near term production".

The funding secures the near-term work programme at both sites as Gardaq advances exploration through the coming year, the small-cap said.

"We believe that a move to the Main Market will enhance our visibility in the capital markets, support access to a broader pool of institutional capital, and further strengthen our platform as we continue to execute our growth strategy," said CEO Eldur Olafsson.

The company has launched its first 2026 exploration campaign at a pegmatite-hosted rare earth target where surface samples previously returned grades of up to 2.3% total rare earth oxides.

"This significant milestone enables us to increase expected gold recoveries from about 61% to roughly 90-95% for the remainder of the year," said Eldur Olafsson, CEO.

The mining small-cap reported Q1 2026 revenue of $18.9m as the Nalunaq project ramped production.

Amaroq has signed an amended and restated US$70 million revolving credit facility with Landsbankinn and Gunvor Group, replacing its US$35 million facility and securing a gold offtake arrangement with Gunvor.