PERTH (miningweekly.com) – Junior Artemis Resources will raise A$3-million to fund exploration work.
The ASX-listed company on Friday said that it had received firm bought deal commitments from a London institution and a professional Australian investor to raise A$3-million through the issue of some 23.7-million shares, at 12.66c each.
“We are preparing to hit exploration efforts very hard on our new conglomerate gold and cobalt assets in the Karratha region and this funding puts the company in the best financial position it has been in for many years,” said Artemis executive chairperson David Lenigas.
“Banks don’t lend to companies like Artemis and you can’t build real business with bottle tops, so I apologise to those shareholders who don’t like dilution. We have some amazing assets to develop in Artemis and we need real money to create real assets.”