Amaroq Minerals Enhances Market Making Agreement for Investors
Amaroq Minerals Enhances Market Making Agreement
Amaroq Minerals Ltd. (LSE:AMRQ, TSX-V:AMRQ, NASDAQ Iceland: AMRQ), an innovative mining company focused on gold and strategic minerals, is making strides to ensure robust market making arrangements. The firm has recently optimized its market making agreement with Arion Bank hf. to bolster investor confidence and trading efficiency.
Details of the Revised Market Making Agreement
This recent amendment to the existing agreement, originally inked at the beginning of the year, introduces a well-structured two-part system for daily bid and ask quotes. This ensures that Arion Bank will be accountable for maintaining active market conditions for a minimum of 50,000 Depository Receipts.
Understanding the Bid-Ask Spread
The revised terms call for specific configurations regarding the bid-ask spread. For 45,000 Depository Receipts, referred to as “Part A,” the target is set closely around 1.50%, with a minimum threshold of 1.45%. Meanwhile, for the remaining 5,000 Depository Receipts, denoted as “Part B,” the spread is not to exceed 1.50%.
Conditions for Adjusting the Spread
Importantly, Arion Bank retains the flexibility to adjust the bid and ask spreads based on market conditions, particularly if the price of the Depository Receipts changes significantly in a single trading day. Should there be a price change exceeding 5%, the spread can be doubled, and should it surpass 10%, the spread can be tripled, allowing for greater adaptability to market fluctuations.
Termination of Previous Market Making Partnership
In conjunction with the changes to the agreement with Arion Bank, Amaroq Minerals has also decided to terminate its market making agreement with Fossar fjárfestingabanki hf., effective in early May. This decision aligns with the company's strategy to ensure it partners with institutions that best support its market ambitions.
Contact Information for Investor Enquiries
For inquiries regarding this update, interested parties are encouraged to reach out to key personnel within Amaroq Minerals. Eldur Olafsson serves as the Executive Director and CEO, while Ed Westropp leads Business Development and Corporate Affairs. For corporate development inquiries, Eddie Wyvill is available, ensuring all channels are open for investor communication.
About Amaroq Minerals
Amaroq Minerals aims to be a leader in the mining industry by focusing on gold and strategic metals in Southern Greenland. With a 100% interest in the Nalunaq Gold mine and numerous exploration projects, the company is strategically positioned to take advantage of the burgeoning demand for these valuable resources.
Commitment to Growth and Development
Amaroq is committed to exploration and development efforts across several key projects, highlighting its dedication to uncovering and developing valuable mineral resources. The company holds a significant stake in both copper and nickel projects, alongside its established gold mine, showcasing a diversified portfolio.
Frequently Asked Questions
What is the significance of the market making agreement amendment?
The amendment is crucial as it fosters better liquidity for investors, ensuring that there are consistent bid and ask quotes for the Depository Receipts.
How does the bid-ask spread work?
The bid-ask spread indicates the difference between the buying and selling price of securities, impacting overall trading costs.
Why was the previous agreement with Fossar terminated?
The decision to terminate was made as part of a strategy to align with partners that more closely fit the company’s current objectives.
How can investors communicate with Amaroq Minerals?
Investors can reach out via the dedicated contacts listed in the press release, ensuring communication channels are open for queries.
What types of minerals does Amaroq focus on?
Amaroq primarily focuses on gold and strategic minerals, including copper and nickel, as part of their exploration and development initiatives.
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