Artemis raises A$10m for WA exploration
PERTH (miningweekly.com) – ASX-listed Artemis Resources has completed a A$10-million capital raise to fund exploration work at its Carlow Castle and Paterson Central gold/copper projects, in Western Australia.
The company will issue 100-million shares, priced at 10c each to institutional and sophisticated investors under its existing placement capacity.
The placement price represented a 4% premium to Artemis’ last closing price.
“The company is delighted with the strong support for the placement, and we are pleased to welcome a number of prominent new institutions to the Artemis register,” said executive director Alastair Clayton.
“I believe the strength of interest and pricing of the capital raise announced today is a direct reflection of the quality of our Greater Carlow gold/copper/cobalt and Paterson Central gold/copper projects.”
Clayton said that the funds would allow Artemis to pursue an accelerated expanded resource step-out, definition and regional exploration drilling across the Greater Carlow area.
“At Paterson Central, we have a truly exceptional exploration opportunity in one of the world’s most exciting new gold/copper frontiers, adjacent to and surrounding on three sides, the world-class Havieron gold and copper discovery now under construction in close proximity to our priority targets.”
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