Amaroq Minerals Ltd Amaroq signs MoU with ABD Solutions (9406V)
15 August 2022 - 04:00PM
UK Regulatory
TIDMAMRQ
RNS Number : 9406V
Amaroq Minerals Ltd
15 August 2022
("Amaroq Minerals" or the "Company")
Amaroq signs MOU with ABD Solutions
TORONTO, ONTARIO - August 15, 2022 - Amaroq Minerals Ltd. (AIM,
TSXV: AMRQ), an independent mining company with a land package of
gold and strategic mineral assets covering an area of 7,615.85km(2)
in Southern Greenland, is pleased to announce that it has now
signed a Memorandum of Understanding ("MoU") with ABD Solutions, a
business within AB Dynamics PLC, to investigate the potential for
the introduction of vehicle autonomy systems for various mining
vehicles at the Nalunaq site in Greenland.
Highlights:
-- ABD Solutions ("ABDS") and its affiliated companies have over
35 years' experience in the control and automation of vehicles
using driving robots and control systems. With a mission to
accelerate the transition to autonomy, they offer specialised
vehicle agnostic driverless automation solutions capable of working
across a wide range of off-highway environments.
-- Amaroq Minerals (Amaroq) is currently planning a pilot mining
and processing operation at its Nalunaq Project in Greenland the
aim of which is prove the continuity of the mineralisation and
provide input to a feasibility study and detailed engineering which
would provide the design basis for a subsequent full scale
mine.
-- Amaroq intends to work closely with ABDS during this process
to enable ABDS to adapt its existing driverless automated vehicle
management solutions to the specific environmental and vehicular
requirements of the Nalunaq site. The MoU sets out the principal
terms and conditions on, and subject to which, Amaroq Minerals is
willing to enter detailed discussions regarding this process.
-- The long-term goal of the MoU is to provide a framework for
ABDS to deliver the support, software and hardware solutions needed
for the Company to operate a diverse range of automation equipment
and retrofittable mining vehicles on the Nalunaq site in Greenland.
These vehicles would be operated automatically and supervised from
a central control room, therefore, improving safety and
streamlining the mining process, both operationally and
financially.
Amaroq's strategy prior to beginning the next stage of
redevelopment at Nalunaq is to explore innovative technologies so
as to operate in the most sustainable way as well as to leverage
existing mine infrastructure. ABDS' mission is to accelerate the
transition to autonomy by providing retrofit solutions that enable
the automation of conventional vehicle fleets rapidly and
cost-effectively.
Eldur Olafsson, CEO of Amaroq Minerals, commented:
"We are delighted to announce our planned partnership with ABD
Solutions a well-regarded automation company with substantial
experience working with organisations to accelerate the transition
to autonomy. We are focussed on ensuring that we seek out and
deploy innovative technology across Nalunaq, and going forward the
rest of the assets within our extensive licence area, as we believe
that this will allow us to introduce new skill sets to the
workforce in Greenland and to operate safely, efficiently and
sustainably. The team look forward to working closely with ABDS and
utilise their considerable knowledge throughout the Nalunaq
development process."
Enquiries:
Amaroq Minerals Ltd.
Eldur Olafsson, Executive Director and CEO
+354 665 2003
eo@amaroqminerals.com
Eddie Wyvill, Investor Relations
+44 (0)7713 126727
ew@amaroqminerals.com
Stifel Nicolaus Europe Limited (Nominated Adviser and
Broker)
Callum Stewart
Simon Mensley
Ashton Clanfield
+44 (0) 20 7710 7600
Panmure Gordon (UK) Limited (Joint Broker)
John Prior
Hugh Rich
Dougie Mcleod
+44 (0) 20 7886 2500
SI Capital Limited (Joint Broker)
Nick Emerson
Charlie Stephenson
+44 (0) 1483 413500
Camarco (Financial PR)
Billy Clegg
Elfie Kent
Charlie Dingwall
+44 (0) 20 3757 4980
For Company updates:
Follow @Amaroq_Minerals on Twitter
Follow Amaroq Minerals Ltd. on LinkedIn
Further Information:
About Amaroq Minerals
Amaroq Minerals' principal business objectives are the
identification, acquisition, exploration, and development of gold
and strategic metal properties in Greenland. The Company's
principal asset is a 100% interest in the Nalunaq Project, an
advanced exploration stage property with an exploitation license
including the previously operating Nalunaq gold mine. The
Corporation has a portfolio of gold and strategic metal assets
covering 7,615.85km (2) , the largest mineral portfolio in Southern
Greenland covering the two known gold belts in the region. Amaroq
Minerals is incorporated under the Canada Business Corporations Act
and wholly owns Nalunaq A/S, incorporated under the Greenland
Public Companies Act.
Forward-Looking Information
This press release contains forward-looking information within
the meaning of applicable securities legislation, which reflects
the Company's current expectations regarding future events and the
future growth of the Company'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 Company'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 Company'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 Company and speaks
only as of the date on which it is made. Except as required by
applicable securities laws, the Company 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.
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