viewArtemis Resources Ltd

Artemis Resources appoints Dubai royalty to chairman position

The company is advancing its West Australian gold, base and battery metal assets.

empty board room seats
A number of discoveries and resources upgrades were made last quarter

Artemis Resources Ltd (ASX:ARV) has appointed His Highness Sheikh Maktoum Hasher al Maktoum to the position of non-executive chairman.

H.H Sheikh Maktoum is a member of Dubai’s ruling family and was awarded CEO of the Year by CEO Middle East in 2009.

He is also president of Al Fajer Group, chairman of Dubai International Holdings, chairman of Manannan Hydro Limited and a board member of the Commercial Bank of Dubai.

David Lenigas has resigned as executive chairman and director due to the demands on his time from family and his other business activities.

READ: Artemis Resources puts $5.4 million to use on Carlow Castle and Armada in Pilbara

H.H Sheikh Maktoum said: “On behalf of the board and the shareholders I would like to take this opportunity to thank Mr Lenigas for his significant contribution to the development of the company since his appointment in November 2016, including the key role he played in expanding the asset base of the company and securing the necessary funding to advance those assets.

“I am excited to accept this role and assure our shareholders that I am committed to working to providing the leadership to move the company forward.

"I have the skills and experience to facilitate this and my business interests include mining and exploration projects in other parts of the world.”

Second board change

As a part of this restructure, Alex Duncan-Kemp has also resigned as a director and will be replaced, effective today, by Dan Smith.

Smith is a commercial director at Minerva Corporate, a corporate services business based in Perth and has significant experience in capital markets and corporate governance of ASX listed companies.

He is a non-executive director of Europa Metals Ltd (ASX:EUZ), Lachlan Star Ltd (ASX:LSA), HIPO Resources Ltd (ASX:HIP) and White Cliff Minerals Ltd (ASX:WCN).

Multiple successes in the December quarter

In the company's recent quarterly report it said: "This has been a massive quarter with the company’s exploration team successfully defining eight (8) new exploration targets at the Armada Prospect in the Paterson Ranges, delivering three (3) resource updates across our gold and base metal assets and announcing three (3) new gold discoveries in the West Pilbara.

"With respect to the restart of Radio Hill, resource definition and geo-metallurgical programs remain the key determinants of the timing to production.

"To underpin commencement of operations, Artemis is working towards defining at least 3 years of plant feed from within the company’s extensive gold and base metal assets or equivalent tonnages of gold ore from third-parties or joint ventures.

"As such it is prudent to concurrently advance resource development and geo-metallurgical studies on Carlow Castle Au-Cu-Co and Whundo Cu-Zn Projects and evaluate third-party gold ore toll treatment options prior to completion of the Radio Hill refurbishment.”

Quick facts: Artemis Resources Ltd

Price: 0.09 AUD

Market: ASX
Market Cap: $100.79 m

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