REG - Artemis Resources Ld - Firm commitments received to raise A$4.75 million

Artemis ResourcesAnnouncement

21/07/2025 07:30

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RNS Number : 8320R  Artemis Resources Limited  21 July 2025

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

21 July 2025

 

Firm Commitments to Raise A$4.75m

§      Firm commitments received to raise A$4.75 million at A$0.004 per
share from institutional and sophisticated investors.

§     The placement was oversubscribed and strongly supported by  new and
existing institutional investors and existing investor both in Australia and
United Kingdom

§      The issue price of $0.004 represents a 20% discount to the last
close price and a 27% discount to the 15 day VWAP.

§      Funding will enable advancement of gold exploration programs at
Carlow, Titan and Cassowary

§     Board of directors have agreed to invest $110,000, subject to
shareholder approval

§     Raise will be in two tranches with tranche 2 to be approved at the
upcoming EGM.

§    Placement strengthens the balance sheet with over $5m in treasury

 

Artemis Resources Limited ("Artemis" or "the Company") (ASX/AIM:ARV) is
pleased to advise it has received firm commitments for a capital raising of
A$4.75 million ("Placing"). The raise received strong support from
sophisticated and institutional investors.

 

Artemis will issue 1,187,500,000 new shares at $0.004 per share. The issue
price is a 27% discount to the 15 day Volume Weighted Average Price (VWAP).
Shares will be issued in two tranches approx. 28% (330 million shares under
Listing Rule 7.1) in the first tranche and the remaining 72% (857 million
shares) following shareholder approval at an Extraordinary General Meeting
(EGM) to be held on a date to be confirmed by the Company in due course.

In addition, the Company will also issue approximately 150,000,000 broker
options with an exercise price of $0.001 and expiry date of 3 years after
issue ("Broker Options").

 

Use of funds

Artemis will utilise this additional funding to undertake a substantial drill
program of up to 5,000m including extensional drilling and technical studies
at the Carlow Gold and Copper Project, RC drilling at Titan, and exploration
at Cassowary.

1.         Carlow Gold and Copper Project - diamond drilling to scope
out potential for significant extensions to the Carlow Mineral Resource
which contains 374koz gold and 64,000t copper and to provide samples for
metallurgical test work and further studies.

2.         Titan Gold Targets - shallow low-cost RC drilling of
geophysical anomalies in areas with high-grade surface gold occurrences  and
a brecciated host sequence near previous gold mineralisation encountered in
phase 1 drilling this year.

3.    Cassowary Intrusion - Gravity survey across a unique untested >5km
wide intrusion east of Kalgoorlie  to target drilling for potential IOCG-type
copper/gold mineralisation.

 

Carlow Gold/Copper Project

Diamond drilling will test the potential for significant extensions to the
Carlow high-grade gold and copper lode system, well beyond the current limit
of drilling , including:

•          Widely spaced holes within a 600m gap along strike
between the existing resource and a recent intersection of: 7m @ 2.9g/t Au,
including 1m @ 15.3g/t Au

•          Widely spaced holes to follow up an historic
intersection of: 4m @ 11.1 g/t Au and 2.0% Cu 120m below the Carlow resource,
which remains open below 380m

•          Project Manager appointed to oversee technical studies
including metallurgical test work, conceptual mining studies and a review of
processing options

Titan Gold Targets

•          Infill gravity survey to confirm 4 gravity anomalies
(G1-G4) in an area of surface gold occurrences  and strong brecciation within
~2km wide interpreted thrust zone

•          RC drilling to test the G1 anomaly and wider
ultramafic/sediment sequence which hosts elevated gold in recent drilling up
to 0.5g/t Au (peak assay: 1m @ 16.4g/t Au) .

 

Cassowary Intrusion

•          Artemis EL application (330km2) covering the large
Cassowary Intrusion is expected to be granted in September quarter.  Gravity
survey planned to assist drill targeting.

•          Potential for IOCG type copper-gold mineralisation has
added credibility with nearby applications by WA1 Resources (2 adjacent EL's)
and Teck Resources (7 EL's)

 

The capital raise was led by CPS Capital in Australia and Zeus Capital in the
UK.

 

Admission

The Placing will be conducted in two tranches, with the First Tranche of 330
million shares (the "First Tranche Placing Shares") being issued and allotted
under Artemis' existing shareholder authorities and the Second Tranche of 857
million shares (the "Second Tranche Placing Shares") being issued and
allotted subject to the necessary resolutions being duly passed at the General
Meeting.

Application has been made to the London Stock Exchange for the admission of
the First Tranche Placing Shares to trading on AIM. It is anticipated that
admission will take place on or around 8.00 a.m. on 23 July 2025.
Application will be made to the London Stock Exchange for the admission of the
Second Tranche Placing Shares to trading on AIM following the General Meeting.

Following admission of the First Tranche Placing Shares, the Company will have
3,723,172,165 Shares in issue. The Placing Shares will represent approximately
15% per cent. of the Company's enlarged share capital and will rank pari
passu in all respects with the Company's existing ordinary shares.

This figure of 3,723,172,165 Ordinary Shares may be used by Shareholders as
the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
voting rights of the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

Trading on the Australian Security Exchange ("ASX")

As announced on 17 July 2025 and following today's announcement, the trading
halt on the Company shares on ASX has now been lifted.

 

For more information, please visit www.artemisresources.com.au
(http://www.artemisresources.com.au/)

 

This announcement was approved for release by the Board.

 

 Artemis Resources Ltd                                     info@artemisresources.com.au (mailto:info@artemisresources.com.au)
 Guy Robertson, Chairman

 Julian Hanna, Managing Director

 Zeus (Nomad & Broker)

 Antonio Bossi / James Bavister / Gabriella Zwarts

                                                           Tel:  +44 20 3829 5000

info@artemisresources.com.au (mailto:info@artemisresources.com.au)

 

 

 

Tel:  +44 20 3829 5000

 

 

ASX announcements referred to in this release;

Artemis Resources, ASX Announcement, New High Grade Au-Cu-Co Resource at
Greater Carlow, 13 October 2022

 

Competent Person Statement

The information in this report that relates to Exploration Results was
compiled by Mr Julian Hanna, a Competent Person who is a member of the
Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Hanna is
Managing Director of Artemis Resources Ltd and has sufficient experience that
is relevant to the style of mineralisation and type of deposit under
consideration and to the activity being undertaken to qualify as a Competent
Person as defined in the 2012 Edition of the 'Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves". Mr Hanna consents
to the inclusion in this report of the matters based on his information in the
form and context in which it appears.

No New Information

To the extent that this announcement contains references to prior exploration
results which have been cross referenced to previous market announcements made
by the Company, unless explicitly stated, no new information is contained. The
Company confirms that it is not aware of any new information or data that
materially affects the information included in the relevant market
announcements and, in the case of estimates of Mineral Resources, that all
material assumptions and technical parameters underpinning the estimates in
the relevant market announcements continue to apply and have not materially
changed.

 

Caution regarding Forward Looking Information

This document contains forward looking statements concerning Artemis Resources
Limited. Forward looking statements are not statements of historical fact and
actual events and results may differ materially from those described in the
forward-looking statements as a result of a variety of risks, uncertainties
and other factors. Forward looking statements in this document are based on
Artemis' beliefs, opinions and estimates as of the dates the forward-looking
statements are made, and no obligation is assumed to update forward looking
statements if these beliefs, opinions or estimates should change or to reflect
other future developments.

 

About Artemis Resources

Artemis (ASX/AIM: ARV) is a gold, copper and lithium focused resource company
with a highly attractive suite of projects in Western Australia's
underexplored North Pilbara Gold Province and a large copper/gold exploration
target below the Eucla Basin 450km east of Kalgoorlie in Western Australia.

·    Attractive projects:

o  Gold/Copper - Karratha Gold Project (100%) multiple prospects incl:
Carlow, Titan, Marillion, Europa

o  Copper/Gold - Cassowary Intrusion Exploration Project - large IOCG type
target

o  Paterson Gold/Copper Project - adjacent to Havieron Mine (owned Greatland
Gold)

o  Lithium - Artemis/Greentech Lithium JV: Mt Marie, Kobe, Osborne.

·    Highly strategic location: Tier 1 jurisdiction, close to major hub at
Karratha including regional rail and road infrastructure, administrative
centre and Dampier Port.

·    Significant exploration upside: highly prospective tenure package in
the Pilbara Region of Western Australia which is a rapidly emerging gold
province dominated by >12Moz Au Hemi Project.

·    Mineral Resource with growth potential: existing high-grade
gold-copper-cobalt Inferred Mineral Resource at Carlow (100%-owned tenure).

·    Established processing site at Radio Hill: strategically located,
fully permitted.

·    IOCG Exploration Target: Artemis has applied for a 330km(2)
exploration licence 450km east of Kalgoorlie covering a large interpreted
magnetic intrusion considered to be  prospective for IOCG type copper/gold
mineralisation.

 

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