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Artemis Resources gains new substantial shareholder

The company drilled 37,000 metres in FY2018 and delivered two resource updates.

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Carlow Castle is one of Australia's emerging cobalt projects

Artemis Resources Ltd (ASX:ARV) has revealed that Veni Vidi Vici Limited has become a new substantial shareholder in the company with 36.38 million shares.

Veni Vidi Vici is focused on investment in and acquisitions of companies operating in the precious metals and base metals sectors globally.

READ: Artemis Resources identifies multiple new high-priority cobalt targets

Artemis continues to develop its project portfolio in the West Pilbara area which surrounds the 100% owned Radio Hill processing facility.

The company is advancing multiple exploration projects with the objective of commencing mining operations to feed the Radio Hill plant.

Carlow Castle the most advanced project

In the September quarterly report released earlier this week, Artemis’s executive chairman David Lenigas said: “The rapid emergence and pending resource update on our cornerstone Carlow Castle Gold-Cobalt-Copper Project and recent cobalt exploration success is driving Artemis to expand our flow sheet development program at Radio Hill, with a view to multi-commodity production.

“The investment at Radio Hill to date has been gold-focused with the ongoing refurbishment of the crushing and grinding circuits, the installation of a new gold circuit, acquisition of a larger, refurbished flotation circuit and extensive repairs/rehabilitation of surface infrastructure including the tails storage facilities.

Multiple exploration opportunities

“This expenditure plus extensive exploration activity at Carlow Castle and Munni Munni has seen the company advance across multiple fronts.

“Corporately, Artemis continues to seek opportunities to leverage our land holdings by finalising a 70% earn-in on the Munni Munni Project with Platina Resources and announcing a strategic processing alliance with  Pacton Gold (post quarter-end).”

Quick facts: Artemis Resources Ltd

Price: 0.135 AUD

ASX:ARV
Market: ASX
Market Cap: $153.46 m
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