Artemis Resources, an ASX-listed mining exploration, and development company based in Perth have announced its intention to apply for admission to the AIM market at the London Stock Exchange to trade the Company’s entire share capital.
The Company intends to raise up to £5 million by means of the Placing of new Ordinary Shares (“Placing Shares”) to certain institutional and other investors at a price of 3.75 pence per share (“Placing Price”).
The net proceeds of the Placing will be primarily applied for the development of the Group’s Carlow Castle project and Paterson Central project as well as working capital.
The well-funded work programme for 2022: Assuming completion of the Placing, the Company will have sufficient capital to implement its drill programme for 2022
The Board have a track record of delivering shareholder value.
- Mark Potter, Non-Executive Chairman, has over 15 years of experience in natural resources investments. He is a Director of AIM-listed Metal Tiger plc, which sold MOD Resources to Sandfire Resources for A$167m in June 2019 and is Chairman of GreenTech Metals Limited, an ASX listed battery metals explorer, which has seen a share price increase of over 75% since its IPO on 4 January 2022. Mark was a former Director of Anglo Pacific Group, a London listed royalty company, where he completed US$90m of royalty deals.
- Alastair Clayton, Executive Director, is a qualified geologist and mining executive with extensive experience in evaluating, optimising and financing large scale mining projects internationally. He was previously a Director of ASX100 company Extract Resources Limited, representing major shareholder AIM-listed Kalahari Minerals PLC, both sold for a combined value of A$2.2bn.
Alastair Clayton, said: “With this AIM listing, the Company is providing an efficient and convenient platform upon which UK-based investors can now own Artemis stock and access its exciting exploration and development projects in Western Australia.
As Havieron was discovered by a UK-based company, there is deep understanding of the Paterson Province and the huge potential that the region holds.
The Director’s believe Artemis provides shareholders unrivalled leverage to further exploration success at Paterson Central with the benefit of an advance resource growth programme at the Greater Carlow Project plus the Radio Hill facility to support the current valuation.”
“With rigs at both Paterson Central and Greater Carlow due to re-start soon, we will be generating significant amounts of news and results for the remainder of 2022. The Artemis team look forward to the opportunity before us with some relish and would like to thank our existing and new shareholders for their ongoing support.”
Under the TIDM ARV’, admission is expected to occur on or about 7 February 2022.
Artemis’ experienced leadership team is focused on creating shareholder value through its 100%-owned projects in Western Australia. This includes the Paterson Central project adjacent to the Havieron copper and gold discovery at Telfer in East Pilbara, and the Greater Carlow Gold-Copper-Cobalt Project (West Pilbara).
The Paterson Central Gold-Copper Project, located in Western Australia, is adjacent to the potential world-class Havieron gold-copper discoveries made by Greatland Gold. It is being developed by Newcrest Mining.
Artemis completed its first drilling at Paterson Central in the last quarter of 2021. It believes it intersected copper-gold mineralisation, but Artemis will need to see results before that can be confirmed. March is expected to see assays.
The company plans to drill mid-quarter to continue the positive geology from the previous hole. This will allow the company to finish a hole at Apollo 4 as well as drill the main gravity anomaly centre beneath Apollo 2.
Artemis anticipates that the trading halt on ASX will be lifted by Thursday, January 27.
Company Website https://artemisresources.com.au/
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