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Amaroq Awarded Johan Dahl Land Licence and Positive Initial Exploration Results - ForexTV
Reykjavík, Jan. 22, 2025 (GLOBE NEWSWIRE) -- (“Amaroq” or the “Company” or the “Corporation”) Amaroq Awarded Johan Dahl Land Licence and Positive Initial Exploration Results ** Expanding Presence across the South Greenland Copper Belt** **Results of up to 12.3g/t Au and 5.1%Cu Recorded** TORONTO, ONTARIO – January 22, 2025 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mining development Company with an extensive land package of gold and strategic mineral assets across Southern Greenland, is pleased to announce that it has been awarded the Johan Dahl Land licence (MEL 2025-17). This newly acquired licence expands Amaroq’s footprint in the South Greenland Copper Belt, a region demonstrating high potential for copper-gold mineralization, complementing the Company’s existing portfolio in the area. Highlights The Johan Dahl Land licence encompasses an area of 666.51 km², increasing Amaroq’s total land holdings to 6,800.1 km².This significant expansion of the Company’s critical metal portfolio now sees Amaroq hold 3,147 km2 of the South Greenland Copper Belt, through its Gardaq Joint Venture.Initial exploration at the newly defined Ukaleq Target identified gold grades up to 12.3 g/t Au and copper grades up to 5.1% Cu, hosted in quartz and copper sulphide veins.A further copper-gold anomalism covering an area extending up to 19 km² has been identified, highlighting the broader exploration potential.Geochemical signatures suggest the presence of an intermediate-to-high sulphidation epithermal system. Such systems are globally recognized for their copper, gold, and silver potential.These findings are believed to be key structures, consistent with the geological framework of the South Greenland Copper Belt. References to the accompanying presentation on the Johan Dahl Land results can be accessed on the website by clicking the link below: https://www.amaroqminerals.com/investors/presentations/ James Gilbertson, VP Exploration for Amaroq, commented: “The award of the Johan Dahl Land licence and the promising early exploration results reaffirm Amaroq’s commitment to unlocking Greenland’s critical mineral potential. The South Greenland Copper Belt is rapidly emerging as a significant exploration district, and our work at the Ukaleq Target has already demonstrated its significant resource potential. We are excited to advance exploration efforts and build on these discoveries to position Amaroq as a leader in sustainable mineral development in Greenland.” Exploration Summary Prior to the final award of the Johan Dahl Land licence, Amaroq conducted an intensive field program across the Ukaleq Target area. Building on the Company's geological expertise in the South Greenland Copper Belt, sampling of exposed quartz and copper sulphide veins returned highly encouraging assay results. These included gold grades up to 12.3 g/t Au and copper grades reaching 5.1%, indicative of a robust mineralizing system. Broader reconnaissance efforts identified a 19 km² zone of copper-gold anomalism, supported by detailed geochemical analyses. The geochemical signature suggests a potential intermediate-to-high sulphidation epithermal system, comparable to similar high-potential systems globally. Strategic Expansion in South Greenland The Johan Dahl Land licence will be held under the Company’s Gardaq Joint Venture and represents a key addition to Amaroq’s extensive portfolio in the South Greenland Copper Belt. This region is becoming increasingly recognised for its critical mineral resources, offering a unique opportunity for Amaroq to contribute to the global supply of essential metals while supporting Greenland’s sustainable economic development. Next Steps Amaroq intends to integrate the results from the 2024 exploration program into a broader exploration strategy for 2025. Planned activities include: Detailed geophysical surveys to refine initial drill targets across the Ukaleq Target;Advanced geochemical sampling to further delineate high-grade zones within the 19 km² anomalous area; andRegional exploration across the Johan Dahl Land licence to identify additional mineralized systems. Amaroq is committed to working in close collaboration with Greenland’s government and communities to ensure a responsible development of the region’s mineral resources. Enquiries: Amaroq Minerals Ltd.Eldur Olafsson, Executive Director and CEO eo@amaroqminerals.com Eddie Wyvill, Corporate Development+44 (0)7713 126727ew@amaroqminerals.com Panmure Liberum Limited (Nominated Adviser and Corporate Broker)Scott MathiesonNikhil VargheseKieron Hodgson+44 (0) 20 7886 2500 Canaccord Genuity Limited (Corporate Broker)James AsensioHarry ReesTel: +44 (0) 20 7523 8000 Camarco (Financial PR)Billy CleggElfie KentFergus Young+44 (0) 20 3757 4980 For Corporation updates:Follow @Amaroq_Minerals on X (Formerly known as Twitter)Follow Amaroq Minerals Ltd. on LinkedIn Further Information: About Amaroq Minerals Amaroq’s principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in South Greenland. The Company’s principal asset is a 100% interest in the Nalunaq Gold mine. The Company has a portfolio of gold and strategic metal assets in Southern Greenland covering the two known gold belts in the region as well as advanced exploration projects at Stendalen and the Sava Copper Belt exploring for Strategic metals such as Copper, Nickel, Rare Earths and other minerals. Amaroq Minerals is continued under the Business Corporations Act (Ontario) and wholly owns Nalunaq A/S, incorporated under the Greenland Companies Act. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Information This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Corporation's current expectations regarding future events and the future growth of the Corporation's business. In this press release there is forward-looking information based on a number of assumptions and subject to a number of risks and uncertainties, many of which are beyond the Corporation's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include but are not limited to the factors discussed under "Risk Factors" in the Final Prospectus available under the Corporation's profile on SEDAR at www.sedar.com. Any forward-looking information included in this press release is based only on information currently available to the Corporation and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Corporation assumes no obligation to update or revise any forward-looking information to reflect new circumstances or events. No securities regulatory authority has either approved or disapproved of the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Inside Information This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No. 596/2014 on Market Abuse ("UK MAR"), as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, and Regulation (EU) No. 596/2014 on Market Abuse ("EU MAR"). Qualified Person Statement The technical information presented in this press release has been approved by James Gilbertson CGeol, VP Exploration for Amaroq Minerals and a Chartered Geologist with the Geological Society of London, and as such a Qualified Person as defined by NI 43-101.
UK Public Sector Borrowing Spikes: December Figures Climb to £17.81 Billion - ForexTV
The United Kingdom witnessed a significant increase in public sector net borrowing as figures for December 2024 climbed to £17.81 billion, marking a notable rise from the previous month's £11.25 billion. This data, updated on January 22, 2025, underscores mounting financial pressures as the government navigates through various economic challenges.The sharp increase may reflect expanded government expenditure or decreased revenue streams, potentially linked to prevailing economic conditions or policy priorities. The rise highlights the ongoing fiscal challenges facing the UK, especially amid global economic uncertainties and post-pandemic recovery efforts.Stakeholders in the financial and governmental sectors will likely closely monitor upcoming data releases and policy responses as they navigate the implications of this borrowing surge on the broader economic landscape and the UK's fiscal health.The material has been provided by InstaForex Company - www.instaforex.com
UK Public Sector Net Cash Requirement Climbs to £19.876 Billion in December - ForexTV
The latest financial statistics indicate a significant rise in the UK's Public Sector Net Cash Requirement (PSNCR) for December 2024, reaching £19.876 billion. This marks a noticeable increase from the previous month of November 2024, when the PSNCR settled at £12.983 billion, highlighting growing fiscal pressures.This upward shift suggests increased government borrowing needs, possibly driven by heightened public spending or subdued revenue collections during this period. The updated figures were released as of January 22, 2025, providing fresh insights for economists and policymakers assessing fiscal health and planning the upcoming budget.The substantial rise in PSNCR could have several implications, sparking discussions on fiscal policy adjustments and the long-term sustainability of public finances. Analysts will be closely monitoring these trends as they evaluate the impact on economic growth and debt management strategies moving forward.The material has been provided by InstaForex Company - www.instaforex.com
Intermediate Capital Group plc: Q3 trading statement for the nine months ended 31 December 2024 - ForexTV
ICG plc22 January 2025Q3 update for the nine months ended 31 December 2024 $22bn raised in the last twelve months Highlights Strong fundraising of $7.2bn in the quarter resulting in $22bn raised in the last twelve months, more than twice as much as raised in calendar 2023 and supporting long-term growth in client capital and management feesClient commitments included $1.8bn to Strategic Equity and $1.8bn to Europe IX. Europe IX expected to be activated and fee-earning by March 2025AUM of $107bn (+5.1% q-o-q1); fee-earning AUM of $71bn (+2.8% q-o-q1); AUM not yet earning fees of $20bnInvestment environment remains in line with recent quartersBalance sheet investment portfolio during the quarter generated positive NIR in all asset classes and net cash realisationsAAA ESG rating awarded by MSCI for the fourth consecutive year, membership of the Dow Jones Sustainability Index (Europe) for the second consecutive yearShareholder seminar on ICG Strategic Equity to be held online on 5 March 2025 at 5pm GMT. Register hereSonia Baxendale joined the Board as a Non-Executive Director in January 20252 Unless otherwise stated the financial results discussed herein are on the basis of alternative performance measures (APM) basis; see full year results1 On a constant currency basis; 2 As previously announced. PERFORMANCE REVIEW AUM Growth1 31 December 2024Last three monthsYear-on-yearLast five years (CAGR) AUM$107bn5.1%27.5%19.3% Fee-earning AUM$71bn2.8%8.1%14.7% 1 On a constant currency basisNote: historical AUM has not been updated to reflect AUM policy change effective March 2024. This does not impact fee-earning AUM Business activity $bnFundraising Deployment1 Realisations1,2 Q3 FY25LTM Q3 FY25LTM Q3 FY25LTM Structured and Private Equity5.310.1 1.07.4 0.21.0 Private Debt0.26.6 1.23.3 1.74.4 Real Assets0.71.5 0.82.0 0.51.4 Credit1.03.6 Total7.221.8 3.012.7 2.46.8 1 Direct investment funds; 2 Realisations of fee-earning AUM PERIOD IN REVIEW AUM and FY25 fundraising At 31 December 2024, AUM stood at $107bn and fee-earning AUM at $71bn. The bridge between AUM and fee-earning AUM is as follows: $mStructured and Private EquityPrivate DebtReal AssetsCreditSeed investmentsTotalFee-earning AUM31,93214,3537,40117,451—71,137AUM not yet earning fees4,44913,956751356—19,512Fee-exempt AUM8,3651,3183,035——12,718Balance sheet investment portfolio12,329148458(183)4523,204AUM47,07529,77511,64517,624452106,5711 Includes elimination of $634m (£507m) within Credit due to how the balance sheet investment portfolio accounts for and invests into CLO's managed by ICG and its affiliates At 31 December 2024 we had $30bn of AUM available to deploy in new investments ("dry powder"), of which $20bn was not yet earning fees. The stronger US Dollar at 31 December 2024 compared to 30 September 2024 impacted the US Dollar value of our non-US Dollar (predominantly Euro) funds. We receive management fees in the fund currency. AUM AUM ($m)Structured and Private EquityPrivate DebtReal AssetsCreditSeed investmentsTotalAt 1 October 2024 43,45331,90612,26618,106527106,258Fundraising5,3501816801,029 7,240Other additions81552193 385Realisations(168)(848)(427)(852) (2,295)Market and other movements(1,518)(1,612)(1,082)(688) (4,900)Balance sheet movement(50)(7)(11)26(75)(117)At 31 December 202447,07529,77511,64517,624452106,571Change $m3,622(2,131)(621)(482)(75)313Change %8%(7%)(5%)(3%)(14%)—%Change % (constant exchange rate)13%(2%)2%2%(8%)5% Fee-earning AUM Fee-earning AUM ($m)Structured and Private EquityPrivate DebtReal AssetsCreditTotal At 1 October 2024 31,18415,6857,73117,95772,557Funds raised: fees on committed capital1,941—543—2,484Deployment of funds: fees on invested capital521,1483091,0642,573Total additions1,9931,1488521,0645,057Realisations(159)(1,683)(529)(872)(3,243)Net additions / (realisations)1,834(535)3231921,814FX and other(1,086)(797)(653)(698)(3,234)At 31 December 202431,93214,3537,40117,45171,137Change $m748(1,332)(330)(506)(1,420)Change %2%(9%)(4%)(3%)(2%)Change % (constant exchange rate)7%(4%)2%2%3% FY25 fundraising At 31 December 2024, funds that were actively fundraising included Strategic Equity V; Europe Mid-Market II; Europe IX; Core Private Equity; European Infrastructure II; and various Real Estate strategies. We anticipate having final closes for Strategic Equity V and Europe Mid-Market II before the end of FY25, although the size and timing of such closes remains dependent on market conditions. Balance sheet The balance sheet investment portfolio generated positive NIR across all asset classes and net cash realisations during the quarter. We remain confident our balance sheet will continue to deliver in line with our guidance. At 31 December 2024 it was valued at £3,067m: £m30 September 202431 December 2024Structured and Private Equity1,7781,861Private Debt116119Real Assets350365Credit319361Seed investments394361Balance sheet investment portfolio2,9573,067 At 31 December 2024 the Group had total available liquidity of £1.1bn (H1 FY25: £0.9bn) FOREIGN EXCHANGE RATES Average ratePeriod end Q3 FY24Q3 FY2530 September 202431 December 2024GBP:EUR1.15391.19921.20121.2086GBP:USD1.25031.27171.33751.2516EUR:USD1.08351.07401.11351.0356 COMPANY TIMETABLE Shareholder seminar (online):ICG Strategic Equity5 March 2025, 5pm GMTRegister hereFull year results announcement21 May 2025 ENQUIRIES Shareholders and debtholders / analysts: Chris Hunt, Head of Corporate Development and Shareholder Relations, ICG+44(0)20 3545 2020Media: Clare Glynn, Head of Corporate Communications, ICG+44(0)79 3435 7794 This results statement may contain forward looking statements. These statements have been made by the Directors in good faith based on the information available to them up to the time of their approval of this report and should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward looking information. ABOUT ICG ICG provides flexible capital solutions to help companies develop and grow. We are a global alternative asset manager with over 30 years' history, operating across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit. We develop long-term relationships with our business partners to deliver value for shareholders, clients and employees. We are committed to being a net zero asset manager across our operations and relevant investments by 2040. ICG is listed on the London Stock Exchange (ticker symbol: ICG). Further details are available at www.icgam.com.