Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ) announced that it has closed its previously announced fundrasising for net proceeds of approximately C$75 million.
The company said the proceeds will be used to accelerate mining of the Target Block at its cornerstone Nalunaq gold project and other associated works to enable a smoother transition to nameplate capacity of 300 tonnes per day to the processing plant and installation of a flotation circuit and dry-stack tailings facility to increase recoveries.
It will also be used to advance exploration across its Vagar, Nanoq and Gardaq JV licences.