Amaroq Minerals

AMRQ.L

Gold · Basic Materials

Exchange

London Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Good

Cash Flow

Mixed

Stability

Strong

Valuation

Data not available

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Winston Score History

The full picture

Amaroq Minerals is a mining company focused on finding and producing gold in Greenland. Its main asset is the Nalunaq gold mine, which is one of the only active gold mines in Greenland. The company sells gold to refiners and bullion dealers, making it part of the broader precious metals supply chain.

Amaroq earns money by mining and selling gold, with revenue tied directly to gold prices and how much ore it can extract. The company operates entirely in Greenland, giving it a unique geographic position, but Greenland's remote location also makes operations expensive and logistically difficult. With a negative operating margin and early-stage production, the biggest risk is whether the company can scale output fast enough to cover its costs before it needs to raise more cash from investors.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+997.3% YoY

Strong revenue growth

EPS Growth

+273.6% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

16.8%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~15 months

C$59M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

Strong grower

Amaroq Minerals is growing revenue at 997% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

58.9%

Premium pricing power — 58.9% gross margin

Profit after running costs

Operating Margin

37.4%

Excellent — 37.4% operating margin

Return on the money invested

ROCE

2.2%

Weak — 2.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

>+1,000%

Fast-growing sales (>+1,000% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

74%

Modest — 74% of profit becomes cash

Spare cash per sale

FCF Margin

-108.1%

Burning cash (-108.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.29

Conservative — low debt load (0.29)

Covers its interest

Interest Cover

4.90x

Adequate interest coverage (4.9x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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