Amaroq Minerals exec sells $37,000 worth of shares to cover taxes

Amaroq’s principal asset is a 100% interest in the Nalunaq gold project. Credit: Amaroq Minerals

Amaroq Minerals (AIM, TSXV: AMRQ) informed shareholders on Friday that its executive vice president Joan Plant sold nearly C$50,000 (~$37,000) worth of company stock this week to cover taxes related to an earlier exercise of options.

In a press release, Amaroq detailed that between Jan. 2-4, Plant sold a total of 41,558 shares at an average price of C$1.20 per share on the TSX Venture Exchange.

By late Friday afternoon, the stock traded at C$1.37 apiece for a daily gain of 10.5%. Earlier in the session, it had reached a 52-week high of C$1.40.

The company’s market capitalization was C$360.7 million ($270m) at the time of reporting.

Amaroq was founded in 2017 with the aim of exploring gold and other strategic minerals (copper, nickel, platinum group metals, etc.) in Greenland. Its portfolio covers an area of 9,785 km2, headlined by the past-producing Nalunaq gold mine, which it is in the process of redeveloping.