SCHEDULE: Sun Valley Gold Group Divests Amarc Resources Stake

Sentiment:

Beneficial Ownership Amendment 13 November 2025 9:49 PM

Sun Valley Gold LLC and its affiliates have reported a complete divestment of their beneficial ownership in Amarc Resources Ltd., now holding 0% of common shares.

Summary

Sun Valley Gold LLC, Peter F. Palmedo, Palmedo Holdings LLLP, and Sun Valley Gold Master Fund, Ltd. (collectively, the "Reporting Persons") have filed an Amendment No. 2 to Schedule 13G.
The filing indicates that as of September 30, 2025, the Reporting Persons beneficially own 0.00 Common Shares, no par value, of Amarc Resources Ltd.
This represents 0% of the class of Amarc Resources Ltd.'s common shares.
The Reporting Persons also report having 0.00 sole voting power, 0.00 shared voting power, 0.00 sole dispositive power, and 0.00 shared dispositive power over Amarc Resources Ltd. shares.
The filing certifies that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.

Sentiment

Score: 4

Explanation: The filing reports a complete divestment of shares by a group of investors, which can be perceived as a negative signal for the issuer, Amarc Resources Ltd.

Negatives

A group of institutional investors, including Sun Valley Gold LLC and its affiliates, has completely divested their beneficial ownership in Amarc Resources Ltd., which could be perceived as a negative signal by the market.

Future Outlook

Industry Context

Stakeholder Impact

Shareholders of Amarc Resources Ltd. may view the complete divestment by a group of institutional investors as a negative signal regarding the company's prospects or valuation, potentially influencing their investment decisions.

Key Dates

Date	Description
09/30/2025	Date of event which requires the filing of this statement (Reporting Persons' beneficial ownership dropped to 0%).
11/13/2025	Date of signing and filing of the Schedule 13G Amendment No. 2.

Recommendation

hold

The complete divestment by a group of institutional investors, including Sun Valley Gold LLC, signals a lack of confidence or a change in investment strategy regarding Amarc Resources Ltd. While not a direct financial performance report, such a significant exit by a notable holder warrants a re-evaluation of the company's investment thesis by current and prospective investors. A 'hold' recommendation is appropriate to allow for further analysis of the implications of this divestment.

Keywords

Amarc Resources, Sun Valley Gold, Schedule 13G, beneficial ownership, divestment, common shares, institutional investor

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