Market Shake-Up as Amaroq Minerals Ltd and Arion Bank Modify Landmark Market Making Agreement

Independent mining stalwart, Amaroq Minerals Ltd, with significant holdings in gold and strategic mineral assets in Southern Greenland, has announced that it has amended its existing treaty with Arion Bank. The modification introduces a two-part structure for daily bid and ask quotes. The new arrangement requires Arion Bank to submit quotes for a minimum of 50,000 Depository Receipts, while for 45,000 of these (‘Part A’), the bid-ask spread will closely oblige the tick size table at any given time, aiming for a spread as close as possible to 1.50%. However, it is guaranteed never to fall below 1.45%.

A unique feature of the modified agreement stipulates that if there is a price change for the Depository Receipts exceeding 5% within a single trading day, Arion Bank has the permission to double the stated spread. Furthermore, an increase exceeding 10% gives Arion Bank the flexibility to triple the spread, creating dynamic controls to respond to market volatility.

Nevertheless, Amaroq Minerals has decided to terminate its market making agreement with Fossar fjárfestingabanki hf, effective May 7, 2025. The significant shake-up in Amaroq’s market making arrangements paints a new picture of the mining behemoth’s path ahead, making sure the team at Arion Bank are kept on their toes and perpetually on call.