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  • European Energy Stocks Rise as Renewed U.S.-Iran Conflict Lifts Oil Prices

    European Energy Stocks Rise as Renewed U.S.-Iran Conflict Lifts Oil Prices

    European oil and gas shares moved higher on Monday after fresh military exchanges between the United States and Iran intensified concerns over global energy supplies, pushing crude prices sharply higher.

    The renewed escalation has also renewed uncertainty over the interim agreement reached between Washington and Tehran last month, which had been intended to reopen the Strait of Hormuz and support further diplomatic negotiations.

    Crude Prices Jump on Supply Concerns

    Brent crude futures climbed 2.9% to $78.24 a barrel by 04:25 ET (08:25 GMT), while U.S. West Texas Intermediate (WTI) gained 2.7% to $73.34 a barrel.

    The rally followed reports that Iran had once again declared the Strait of Hormuz closed, raising fears of further disruption to one of the world’s most important energy shipping routes.

    European Oil Producers Advance

    Higher crude prices boosted energy stocks across Europe, with the STOXX Europe 600 Oil & Gas index rising 1.2%, making it one of the strongest-performing sectors on the broader STOXX 600.

    Among individual companies, OMV (TG:OMV) and Repsol (TG:REP) gained around 1% and 2%, respectively.

    TotalEnergies (EU:TTE), Maurel & Prom (EU:MAU), Eni (BIT:ENI) and Equinor (TG:DNQ) all advanced between 1% and 2.1%, while Shell (LSE:SHEL) rose 1.1% and BP (LSE:BP.) added 2.3%.

    Strait of Hormuz Traffic Declines

    The market reaction followed another weekend of military escalation between the United States and Iran.

    Iran launched strikes against U.S. facilities across the Gulf on Sunday, while the country’s Revolutionary Guards said on Monday that American military bases in Kuwait and Bahrain had also been targeted.

    The conflict has affected shipping activity through the Strait of Hormuz, a strategic passage that normally handles around one-fifth of global daily oil and liquefied natural gas supplies.

    According to ship-tracking company Kpler, vessel movements through the strait fell to their lowest level in five weeks on Sunday, with only six ships completing the transit.

  • Aquis Stock Exchange Weekly Highlights 13.07.26

    Aquis Stock Exchange Weekly Highlights 13.07.26

    Sulnox Group PLC (AQSE:SNOX) announced that its customer Spring Marine Management S.A. has received an Industry Partnership Leader Award which recognised the successful collaboration between the two companies, and the environmental and operational benefits achieved through the fleet-wide deployment of Sulnox Eco™. Read more

    IntelliAM AI Plc (AQSE:INT) announced that it has raised £500,000 through a combination of a placing and issuance of convertible loan notes.

    Tom Clayton, CEO, said: “We are seeing good operational activity across the business and this funding will help us accelerate our United States operations and support marketing around the launch of the new IntelliAM platform. Alongside this, the first quarter has delivered encouraging commercial progress, new logos being added across a range of industrial markets.” Read more

    Reveille Resources PLC  (AQSE:REV) joined the Access segment of the Aquis Stock Exchange on Tuesday 7th July having raised approximately £2m. The natural resources exploration and development company is established to pursue uranium opportunities in Europe with a primary focus on Italy’s largest uranium deposits. Read more Watch the welcome video here.

    Falconedge Plc (AQSE:EDGE) reported its June performance results for its Bitcoin Yield Strategy, recording a monthly yield of 1.97% and incremental Bitcoin growth of 0.41 BTC. Read more

    All Aquis Stock Exchange Announcements

  • Vodafone Shares Extend Gains After Niel Investment Sparks Market Optimism (VOD)

    Vodafone Shares Extend Gains After Niel Investment Sparks Market Optimism (VOD)

    Vodafone (LSE:VOD) shares climbed 3.8% to 114.306p during Monday’s session, extending recent gains after the announcement that Vega, the investment vehicle owned by the Niel family, has agreed to acquire Emirates Telecommunications Group’s (e&) entire stake in the telecoms group.

    The transaction has fuelled investor optimism about Vodafone’s future strategic direction, with the shares continuing to outperform the wider FTSE 100.

    £4.4 Billion Deal Brings Xavier Niel to the Fore

    Under the agreement, Vega will acquire e&’s 16.2% shareholding in Vodafone for approximately £4.4 billion, equivalent to around $6 billion.

    The purchase price of approximately 112.5p per share represented a premium of roughly 14% to Vodafone’s previous closing price, highlighting strong confidence in the business from one of Europe’s best-known telecommunications investors.

    Once regulatory approvals are secured, French entrepreneur Xavier Niel, founder of Iliad and a major investor across European telecom markets, will become Vodafone’s largest individual shareholder, replacing e&, which has held its stake since 2022.

    Governance Changes Follow Transaction

    Vodafone confirmed that its relationship agreement with e& has now been terminated.

    The company also announced that Hatem Dowidar, e&’s representative on the Vodafone board, has stepped down as a director with immediate effect.

    JPMorgan analyst Akhil Dattani said Niel is “not known to be a passive investor,” suggesting the new shareholder could play a more active role in shaping Vodafone’s strategy, particularly across its UK and German operations.

    Broker Support Adds to Positive Sentiment

    Following the announcement, Deutsche Bank reiterated its Buy recommendation on Vodafone.

    Separately, Vodacom’s agreement to acquire a controlling 55% stake in Safaricom has strengthened the long-term investment case for Vodafone’s African operations, given its significant shareholding in Vodacom.

    The combination of strategic shareholder changes and continued growth opportunities has helped drive renewed investor interest in the stock.

    Vodafone Leads FTSE 100 Higher

    On the day the transaction was announced, Vodafone was the strongest-performing stock in the FTSE 100, helping the index close 0.2% higher.

    The positive sentiment also lifted shares in BT Group, while broader global equity markets remained supportive, with both the S&P 500 and Dow Jones Industrial Average posting modest gains.

  • FTSE 100 Edges Higher as Rising Oil Prices Lift Energy Stocks

    FTSE 100 Edges Higher as Rising Oil Prices Lift Energy Stocks

    London equities traded slightly higher on Monday despite renewed geopolitical tensions in the Middle East, with gains among energy stocks helping offset broader investor caution after fresh U.S. military action against Iran.

    The FTSE 100 rose 0.07%, while Germany’s DAX fell 0.16% and France’s CAC 40 slipped 0.20%. Sterling also weakened against the U.S. dollar, with GBP/USD down 0.16% at 1.3386 by 03:25 ET (07:25 GMT).

    Oil Prices Jump After Fresh U.S. Strikes

    Crude prices climbed sharply after the U.S. launched another series of strikes against Iranian targets on Sunday.

    U.S. Central Command said the operation was designed to further reduce Iran’s ability to threaten commercial shipping passing through the Strait of Hormuz, a vital route for global energy supplies.

    Speaking to NBC’s Meet the Press, U.S. President Donald Trump said the waterway remained operational.

    “It’s open,” he said, adding, “We bombed the hell out of them last night.”

    His comments contrasted with those from Iran’s Persian Gulf Strait Authority (PGSA), which said the strait remained closed while a security review was carried out and that shipping would only resume once “stability and calm are restored.”

    The latest military action followed strikes on Saturday, when CENTCOM said approximately 140 Iranian military targets were hit, bringing the total to more than 300 targets over three consecutive nights after Iranian forces allegedly attacked the Cyprus-flagged container vessel M/V GFS Galaxy.

    Iranian Foreign Minister Abbas Araghchi wrote on X on 11 July: “Iran has so far kept its word, unlike the so-called U.S. Treasury Secretary who is violating Para 9 of the MoU,” adding, “that violation follows other violations and missteps by the United States” and that “there can only be mutual compliance.”

    Meanwhile, CBS News reported that Iranian officials had privately told advisers to President Trump that the attack on commercial shipping had been carried out by a rogue faction and was not intended to derail negotiations. According to the report, discussions involving Vice President JD Vance, Jared Kushner and Steve Witkoff continued in Oman over the weekend.

    Energy Markets React

    Brent crude climbed 3.8% to $78.86 a barrel, while U.S. West Texas Intermediate crude gained 3.7% to $74.06 as traders priced in the possibility of supply disruptions in the Gulf.

    Gold moved lower despite the geopolitical uncertainty, with gold futures falling 1.2% to $4,065.02 an ounce and spot gold declining 1.6% to $4,056.82.

    UK Corporate Highlights

    Among UK-listed companies, PageGroup (LSE:PAGE) reported stronger-than-expected second-quarter gross profit, with growth in the Americas and Asia-Pacific helping offset weaker conditions across Europe and the UK.

    ME Group International (LSE:MEGP) reaffirmed its full-year profit guidance after saying trading improved following a slowdown in April that was linked to weaker consumer confidence in France.

    Plus500 (LSE:PLUS) also maintained its full-year outlook after reporting its strongest first-half revenue performance in three years, supported by increased customer trading activity and continued expansion in the U.S. market.

  • JPMorgan Turns Positive on Prudential Ahead of Half-Year Results, Citing Hong Kong Opportunity (PRU)

    JPMorgan Turns Positive on Prudential Ahead of Half-Year Results, Citing Hong Kong Opportunity (PRU)

    JPMorgan has placed Prudential PLC (LSE:PRU) on Positive Catalyst Watch ahead of the insurer’s first-half results, arguing that investor concerns over new Chinese outbound investment rules have become overly negative.

    The broker reiterated its Overweight recommendation and 1,480p price target, saying the market is underestimating the resilience of Prudential’s Hong Kong business.

    Broker Expects Management to Ease Regulatory Concerns

    JPMorgan believes Prudential’s results, due on 26 August, could reassure investors about the impact of China’s updated outbound investment regulations on sales to mainland Chinese customers purchasing insurance products in Hong Kong.

    The brokerage said the shares currently reflect a worst-case scenario that is unlikely to materialise, with expectations that management will provide a more balanced assessment of the regulatory changes.

    Much of the recent uncertainty has centred on Decree 837, which came into force on 1 July and introduces a broader framework governing overseas investments by Chinese residents.

    According to JPMorgan, the new rules are expected to increase compliance requirements and lengthen sales processes but should not prevent legitimate cross-border purchases of Hong Kong life insurance products.

    “We expect greater friction, but not an outright ban,” the analysts wrote, adding that the market appears to be pricing in a much steeper decline in mainland Chinese visitor business than is likely to occur.

    Strong First-Half Performance Expected

    JPMorgan forecasts that Prudential will report continued operational progress in its first-half results.

    The broker expects adjusted operating profit to increase by 15%, while new business profit is forecast to rise 13%. It also anticipates a modest improvement in new business margins, supported by stronger demand for health and protection products and ongoing gains in operating efficiency.

    Although the bank has slightly reduced its earnings forecasts to reflect lower investment returns and market movements, it noted that its projections for both 2026 and 2027 remain above Bloomberg consensus estimates.

    Regional Growth Strategy Provides Additional Support

    JPMorgan also highlighted Prudential’s diversified Asian business as an important strength, arguing that investors may be overlooking opportunities beyond Hong Kong.

    The broker pointed to the company’s continued expansion across Southeast Asia, together with its long-term ambitions in India’s life and health insurance markets, as potential drivers of future earnings growth.

    It also said Prudential continues to trade at an attractive valuation relative to both European insurance companies and regional competitor AIA, despite offering stronger medium-term growth prospects.

  • Buccaneer Energy Targets Next Phase of Growth After Strengthening Texas Operations (BUCE)

    Buccaneer Energy Targets Next Phase of Growth After Strengthening Texas Operations (BUCE)

    Buccaneer Energy (LSE:BUCE) says its turnaround strategy in East Texas has created a stronger operational and financial platform, with improved production, lower costs and positive cash generation supporting plans for future expansion.

    The company has increased output from its Pine Mills and Fouke assets while reducing operating expenses, allowing it to strengthen its balance sheet and begin pursuing larger growth opportunities both in the United States and overseas.

    Texas Assets Deliver Stronger Cash Flow

    Buccaneer reported net production of approximately 135 barrels of oil per day from its East Texas operations, generating around $250,000 of positive net cash flow during May 2026 at realised oil prices exceeding $100 per barrel.

    Management said ongoing efforts to reduce operating costs and general and administrative expenses have lowered the company’s cost base to a level that is comfortably supported by existing production.

    The improved financial performance has enabled Buccaneer to continue servicing its debt while also beginning to reduce legacy borrowings, maintaining what it described as a constructive relationship with its lender.

    Production Growth Projects Progressing

    The company’s next stage of growth is expected to come from a combination of operational improvements and recently acquired assets.

    These include the Carlisle-1 acquisition, the planned Fouke waterflood project and the continued rollout of the Organic Oil Recovery (OOR) programme at Pine Mills.

    Together, these initiatives are expected to increase production towards approximately 250 barrels of oil per day over the near term.

    The Fouke waterflood remains on schedule to begin during the latter part of the third quarter of 2026, with Buccaneer securing operational control after increasing its working interest to more than 50%.

    Meanwhile, the OOR pilot programme has reduced water production while lowering operating costs, further improving the economics of the company’s Texas assets.

    Company Eyes Larger Opportunities

    With its Texas business now generating positive cash flow, Buccaneer said it is looking beyond its existing operations as it evaluates larger acquisition and development opportunities.

    The board is assessing projects both domestically and internationally as part of a strategy to increase the scale of the business and create additional value for shareholders.

    Paul Welch, Chief Executive Officer of Buccaneer Energy, commented:

    “The progress at Pine Mills over the past two years has been substantial and, I believe, underappreciated by the market. We inherited an asset in decline and a business carrying significant legacy liabilities. We have stabilised production, invested carefully, brought operating costs to very manageable levels, and made real progress settling the obligations we inherited from prior management – all while continuing to service and now pay down our debt. The result is a business that is cash-generative at current prices and is in far healthier financial shape than it was two years ago. That is the platform we have built. It has taken two years of discipline to get here, and it now enables us to think bigger.

    With the Fouke waterflood due on stream in the coming months and the OOR programme being rolled out further, the Texas business is in the strongest operational shape it has been in years.

    The Board’s ambition, however, extends well beyond Texas. We are focused on opportunities that can genuinely transform the scale of this business and in markets where the combination of our technical capabilities, our network, and the prevailing commercial environment can deliver exceptional value for shareholders. I look forward to sharing more on that in the near term.”

    About Buccaneer Energy

    Buccaneer Energy Plc is an AIM-listed oil and gas exploration and production company with operations centred on East Texas.

    Its principal assets include the Pine Mills field and the Fouke area, where the company is focused on conventional oil production, enhanced recovery techniques and Organic Oil Recovery technologies designed to improve production efficiency and cash generation.

    Following a programme of workovers, cost reductions and targeted acquisitions, Buccaneer is now using its Texas operations as the foundation for pursuing larger-scale growth opportunities in both domestic and international energy markets.

  • PageGroup Maintains Full-Year Outlook as Second-Quarter Trading Shows Improvement (PAGE)

    PageGroup Maintains Full-Year Outlook as Second-Quarter Trading Shows Improvement (PAGE)

    PageGroup (LSE:PAGE) has reaffirmed its full-year guidance after reporting stronger trading during the second quarter, with recruitment activity showing signs of stabilising across several of its key markets.

    While market conditions remain mixed, the recruiter said improving performance in the Americas and Asia-Pacific helped offset continued weakness in parts of Europe.

    Second Quarter Marks Improvement in Gross Profit

    Group gross profit totalled £197.6 million in the second quarter, representing a year-on-year decline of just 0.2%.

    The result marked a significant improvement from the 4.9% fall recorded during the first quarter, reflecting a gradual recovery in hiring activity.

    Around half of the company’s markets delivered growth during the period, with the Americas and Asia-Pacific continuing to perform well. The Page Executive business also recorded a strong 15% increase in gross profit.

    In contrast, trading conditions in France, Northern Europe and the UK remained challenging, although management described those markets as stable.

    Cost Controls Improve Productivity

    Gross profit generated per fee earner increased by 5% compared with the same period last year.

    The improvement came despite a reduction in recruitment headcount, with the number of fee earners falling by 80, or 1.6%, to 4,914.

    PageGroup said its ongoing efficiency programme has now delivered annualised cost savings of approximately £40 million.

    Guidance Maintained Despite Uncertain Outlook

    The company ended the quarter with net debt of around £7 million, unchanged from the previous quarter after paying approximately £10 million in its 2025 final dividend.

    The board continues to expect operating profit for 2026 to be in line with the company-compiled market consensus of £28 million.

    However, management cautioned that uncertainty remains elevated and said visibility for the remainder of the year continues to be limited.

    About PageGroup

    PageGroup is a global specialist recruitment company providing permanent, temporary and contract recruitment services across a wide range of industries and professional disciplines.

    Operating in markets around the world, the group includes brands such as Page Executive and supports clients across sectors including finance, technology, engineering, legal, healthcare and professional services.

  • Delta Gold Highlights Progress in Quantum Materials Research at Penn State and University of Toronto

    Delta Gold Highlights Progress in Quantum Materials Research at Penn State and University of Toronto

    Delta Gold Technologies Plc (AQSE:DGQ) (USOTC:DGQTF) has provided a technical update on its sponsored quantum materials research programmes at The Pennsylvania State University (Penn State) and the University of Toronto (U of T), outlining advances that the company believes strengthen its intellectual property portfolio and long-term commercial opportunities.

    The company said independent academic research continues to support its strategy of developing gold-based quantum materials for applications in quantum computing, sensing and communications, with multiple patent applications already filed and additional intellectual property expected as research progresses.

    Penn State Research Supports Gold Nanoclusters as Quantum Materials

    According to Delta Gold, Professor Ken Knapenberger, Head of the Department of Chemistry at Penn State and principal investigator behind the company’s three patent applications, believes gold nanoclusters represent a fundamentally different class of quantum material rather than an incremental improvement on existing technologies.

    The research focuses on exploiting the electron spin of gold nanoclusters, which function as “super atoms” capable of storing quantum information. By inducing spin polarisation in the clusters and measuring photon emissions, the research team recorded approximately 40% spin-polarised emission during Delta-funded experiments. The company said this is believed to be the highest level reported in any condensed-phase system and exceeds competing quantum materials platforms known to the research team.

    Penn State researchers also reported that the gold nanoclusters maintain spin polarisation over timescales considered competitive with leading quantum technologies.

    Among the additional findings highlighted by Delta:

    • Gold nanoclusters measuring around 9 angstroms in radius offer a physical footprint significantly smaller than existing microelectronics materials, potentially enabling greater device miniaturisation.
    • Laboratory-scale production has already demonstrated gram-level synthesis using relatively accessible research methods, suggesting a scalable manufacturing pathway.
    • Researchers have confirmed a spin-photon interface across multiple frequencies, supporting future work towards gold-based quantum networking technologies.

    Delta said the three patent applications filed by Penn State will become part of the company’s intellectual property portfolio under the terms of its Sponsored Research Agreement and subsequent amendment. The company expects these patents to form the basis of a broader licensing and commercialisation strategy.

    Kenneth Knappenberger Jr., Department Head and Professor of Chemistry and Professor of Physics, at Penn State, commented: “What we have demonstrated with gold nanoclusters is, to my knowledge, a first in condensed-phase quantum materials: a spin-photon interface that is simultaneously long-lived, high-purity, and potentially chemically tunable across frequency windows. The approximately 40% spin-polarised emission we have recorded has not been achieved in any other material system I am aware of. That purity matters enormously — without spin alignment, entanglement and coherence operations either fail or require error-correction overhead that makes scalability impractical. I believe that our work with Delta gives the QIS community a platform that can be made-to-order for the application at hand, and that is a genuinely new capability for the field.”

    R. Michael Jones, Chief Executive Officer of Delta Gold, commented: “The findings coming out of Penn State confirm what drew us to this research thesis in the first place: that gold, properly understood at the nanoscale and protected through robust IP, is a potential quantum platform with structural advantages. We look forward to the next steps as the research advances.”

    University of Toronto Advances Atomic-Scale Gold Research

    Delta Gold also updated investors on work underway at the University of Toronto, where it signed a property licence agreement under its broader sponsored research programme and announced the filing of a provisional patent application in May 2026.

    The company has now funded a second year of research and said encouraging early results could lead to the filing of specific patent applications during 2027.

    Unlike the Penn State programme, the University of Toronto research uses Molecular Beam Epitaxy (MBE), an ultra-high-vacuum deposition technique that enables crystalline thin films to be constructed one atomic layer at a time with atomic-scale precision.

    While the research also investigates the quantum properties of gold and electron spin, it focuses on planar structures rather than nanoclusters. Delta said technical details remain confidential while patent work continues, although early experimental results have been positive.

    Professor Harry Ruda, who leads the programme, commented: “We are encouraged with our experimental work in that it is consistent with our theoretical models for an opportunity to use the material science and quantum properties of gold and other materials with the potential for a platform for more stable and scalable quantum information. We see the opportunity for our structures to potentially be significantly more stable than other approaches. We look forward to the opportunity to collaborate with the team from Penn State as a strong international group under the sponsorship of Delta Gold.”

    R. Michael Jones, CEO of Delta Gold said, “Work at both Universities is moving faster than we had expected and it is very exciting to see the parallel approaches moving towards device designs and expanded IP. In the next phase we expect to see even further innovation come from the collaboration and we are hosting a meeting of our two principal investigators here in London in the next few days”.

    Company Plans Expanded Research and Patent Activity

    Delta Gold said it has agreed to expand its Penn State research programme to a value of up to $6 million over a period of up to six years, with discussions underway on extending research into quantum sensing and quantum communications alongside quantum information science.

    The company also plans to work closely with the University of Toronto and intellectual property specialists at Haynes Boone on future patent filings, while continuing discussions with leading UK universities to build an international quantum research network spanning the United States, Canada and the United Kingdom.

    In addition, Delta intends to increase engagement with government stakeholders across all three countries while raising its profile within capital markets.

    Building a Global Quantum Materials Portfolio

    Delta Gold Technologies is focused on developing and commercialising intellectual property based on nanoscale gold and other advanced materials for use in quantum computing, quantum sensing and quantum communications.

    Its research programmes are conducted through sponsored agreements with Penn State and the University of Toronto, with intellectual property generated through those collaborations expected to underpin future licensing opportunities and strategic partnerships.

  • ME Group Expands Laundry Network as Photobooth Demand Weighs on First-Half Performance (MEGP)

    ME Group Expands Laundry Network as Photobooth Demand Weighs on First-Half Performance (MEGP)

    ME Group International (LSE:MEGP) reported modest revenue growth for the first half of 2026, with continued expansion of its self-service laundry business helping to offset weaker demand for its photobooth operations.

    While profit before tax declined during the period, the company said trading improved towards the end of the half and it remains on track to achieve its revised full-year earnings expectations.

    Laundry Division Continues to Drive Growth

    Revenue for the six months to 30 April 2026 increased 0.3% to £154.3 million, while profit before tax fell 3.8% to £32.7 million.

    EBITDA rose 7.1% compared with the previous year, with operating margins remaining broadly stable.

    The strongest performance came from the Wash.ME laundry division, where revenue increased 16.3% to £54.8 million as the company continued to expand its installed machine base.

    During the first half, ME Group installed a net 499 new laundry units and plans to add approximately 800 more before the end of the financial year.

    New Contracts Support Expansion

    The company secured a major agreement with ASDA to install Wash.ME units across its supermarket estate in the UK.

    ME Group also renewed long-term agreements with French transport operators SNCF and RATP, reinforcing its presence in high-footfall locations across its largest market.

    Management said the group’s strategy remains focused on growing its higher-margin recurring vending income through the continued rollout of self-operated laundry equipment.

    Photobooth Business Faces Temporary Headwinds

    Performance in the traditional photobooth business was affected by softer consumer demand during April, particularly in France, where weaker consumer confidence and geopolitical uncertainty reduced vending activity.

    The company also reported lower equipment sales during the period and announced a reduced interim dividend.

    However, management noted that trading conditions improved during May and June, with activity returning to more typical levels.

    Strong cash generation continues to support investment in expansion while underpinning confidence in meeting revised full-year profit expectations.

    Strong Fundamentals Support Long-Term Outlook

    ME Group continues to benefit from a profitable business model, healthy cash generation and a strengthened balance sheet.

    The shares also trade on a relatively modest valuation while offering an attractive dividend yield.

    However, technical indicators remain mixed, with the share price below longer-term moving averages and recent free cash flow showing some signs of weakness.

    About ME Group International

    ME Group International is a leading operator of automated self-service equipment with more than 49,000 vending units installed across 16 countries.

    Its portfolio includes Photo.ME photobooths, Wash.ME unattended laundry services and a range of complementary vending businesses, including printing, photocopying, foodservice and amusement machines.

    The group continues to focus on expanding recurring, high-margin vending income through long-term partnerships in supermarkets, transport hubs and other high-traffic locations across Europe, the UK and Asia-Pacific.

  • Amaroq Secures Fresh Funding to Advance Greenland Rare Earth and Iron Ore Projects (AMRQ)

    Amaroq Secures Fresh Funding to Advance Greenland Rare Earth and Iron Ore Projects (AMRQ)

    Amaroq Ltd. (LSE:AMRQ) has secured additional funding for its Gardaq A/S joint venture, providing financial backing for an expanded exploration programme across its rare earth and iron ore assets in Greenland during 2026 and 2027.

    The investment will support continued drilling at the Ilua rare earth project alongside exploration activities at the Minturn iron ore and iron oxide copper-gold (IOCG) prospect in northern Greenland.

    Joint Venture Receives New Investment

    Under a newly signed subscription agreement, GCAM LP will invest C$4.7 million into Gardaq A/S, while Amaroq will contribute C$1.8 million in cash together with a further C$3.0 million through the conversion of accrued costs.

    Following completion of the transaction, the ownership structure of the joint venture will remain unchanged, with Amaroq retaining its 51% interest and GCAM holding the remaining 49%.

    The funding provides the capital required to continue exploration across Gardaq’s portfolio of critical mineral projects.

    Related-Party Transaction Approved

    As GCAM is a substantial shareholder in Gardaq A/S, the investment qualifies as a related-party transaction under AIM regulations.

    Amaroq said its board, having consulted with the company’s nominated adviser, concluded that the terms of the agreement are fair and reasonable from the perspective of shareholders.

    Exploration Programme Targets Critical Minerals

    The new funding will allow Gardaq to continue drilling at the Ilua rare earth project while advancing exploration at the Minturn iron ore and IOCG target.

    Management believes the investment strengthens the company’s position within Greenland’s emerging critical minerals sector while maintaining control of one of its key exploration vehicles.

    The programme forms part of Amaroq’s broader strategy of expanding its exposure to minerals that are expected to play an important role in future energy transition supply chains.

    About Amaroq Ltd.

    Amaroq Ltd. is an independent mining company focused on the exploration, development and production of mineral resources in Greenland.

    Its flagship asset is the wholly owned Nalunaq gold mine in South Greenland, complemented by a broader portfolio of gold and strategic metals projects.

    In addition to gold, the company is advancing exploration across a range of critical mineral prospects, including the Stendalen project and the Sava Copper Belt, targeting commodities such as copper, nickel, rare earth elements and other strategic resources.