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Artemis Resources (ASX:ARV) - Executive Director, Edward Mead - The Market Herald
Executive Director, Edward Mead
Source: Artemis Resources
  • Artemis Resources (ARV) has been placed in a trading halt pending a capital raising announcement
  • The halt will be in place until the earlier of July 17 or when an announcement is made
  • Artemis last requested a trading halt in February in regards to an ASX price query
  • In the days leading up to the price query, the company's share price rose from 2.6 cents on February 5 to 3.8 cents on February 11
  • Artemis believed that its proximity to Greatland Gold's Havieron discovery is what caused this jump
  • London Stock Exchange-listed Greatland Gold has seen its share price increase by 160 per cent in the last month
  • Shares in Artemis last traded for eight cents each on July 10

Artemis Resources (ARV) has been placed in a trading halt pending a capital raising announcement.

The halt will be in place until the earlier of July 17 or when an announcement is made.

In June, Artemis provided updates on drilling activities at its Greater Carlow and Paterson Central projects in Western Australia.

Reverse circulation drilling is currently underway at Carlow West on an area that returned rock chips grading between 0.05g/t gold and 9.89g/t gold.

Aircore drilling will start on July 15 to test the remainder of the 1.8-kilometre strike length.

Meanwhile, 457 ionic leach and mobile metal ions samples from Paterson Central are currently being analysed to see which technique works the best and will be used in future programs.

Artemis remains on track to finish its final drill design for the project in the coming weeks.

Artemis last requested a trading halt in February in regards to an ASX price query.

In the days leading up to the price query, the company's share price rose from 2.6 cents on February 5 to 3.8 cents on February 11.

Artemis believed that its close proximity to the Telfer gold mine and Greatland Gold's Havieron discovery, which is being drilled by Newcrest (NCM), is what caused this change.

Newcrest has a farm-in agreement to the Havieron project and the London Stock Exchange-listed Greatland has seen its share price increase by 160 per cent in the last month.

Shares in Artemis last traded for eight cents each on July 10.


Find out more about this capital raise


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