AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Sign up Log in

Artemis Resources Limited Capital/Financing Update 2020

Nov 9, 2020

10429_rns_2020-11-09_8f1e232e-1530-4581-a82b-3bb03e9ef040.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

ASX Announcement

==> picture [138 x 52] intentionally omitted <==

Further Non-Core Asset Disposals to Yield circa $2.3m

10 November 2020

Highlights

Artemis is pleased to report its ongoing programme of non-core asset disposals has yielded a further ~A$2.3m in cash, comprising A$1.75m already settled and A$550,000 that moved to financial close on November 6[th] .
Adds significant additional financial resources to further invest in its ongoing explorations programmes at Carlow Castle and Paterson Central. The current diamond drilling campaign at Carlow Castle has already been substantially extended based on encouraging drill core observations, with first drill results expected to be announced shortly.
Negotiations regarding further non-core asset disposals are continuing and expected to result in more cash inflows before year end.
Total cash from the non-core asset disposal programme since March are in excess of A$9m.

Artemis Resources Limited (“Artemis” or “the Company”) (ASX:ARV, Frankfurt: ATY, US OTCQB: ARTTF) is pleased to provide an update on its ongoing non-core asset disposal programme.

Alastair Clayton, Executive Director commented : “As flagged in our recent Quarterly Report, I am pleased to advise shareholders that asset disposals to yield approximately A$2.3m are either in treasury or in the process of closing over the coming days. This nondilutive funding will only further strengthen our financial capacity as we continue with our aggressive exploration activities across our Pilbara gold-copper portfolio. With the first drill results due very soon from Carlow Castle drilling we expect a very busy reporting period from both of our active projects leading into the Christmas period and beyond.”

About Artemis Resources

Artemis Resources (ASX: ARV; FRA: ATY; US: ARTTF) is a Perth-based exploration and development company, led by an experienced team that has a singular focus on delivering shareholder value from its Pilbara gold projects – the Greater Carlow Gold Project in the West Pilbara and the Paterson Central exploration project in the East Pilbara.