RCS - Artemis Resources Ld - Intention to Float on AIM

Newcrest MiningAnnouncement

21/01/2022 17:35

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RNS Number : 2838Z  Artemis Resources Limited  21 January 2022

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UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT AN ADMISSION DOCUMENT OR A
PROSPECTUS. THIS ANNOUNCEMENT IS NOT AND DOES NOT CONSTITUTE OR FORM PART OF,
AND SHOULD NOT BE CONSTRUED AS, AN OFFER OF SECURITIES FOR SUBSCRIPTION OR
SALE IN ANY JURISDICTION NOR A SOLICITATION OF ANY OFFER TO BUY OR SUBSCRIBE
FOR, ANY SECURITIES IN ANY JURISDICTION, NOR SHALL IT OR ANY PART OF IT, OR
THE FACT OF ITS DISTRIBUTION, FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION
WITH, ANY CONTRACT OR COMMITMENT WHATSOEVER. THIS ANNOUNCEMENT DOES NOT
CONSTITUTE A RECOMMENDATION REGARDING ANY SECURITIES. PROSPECTIVE INVESTORS
SHOULD NOT SUBSCRIBE FOR OR PURCHASE ANY SECURITIES REFERRED TO IN THIS
ANNOUNCEMENT EXCEPT IN COMPLIANCE WITH APPLICABLE SECURITIES LAWS AND
REGULATION AND ON THE BASIS OF THE INFORMATION IN THE FINAL ADMISSION DOCUMENT
("ADMISSION DOCUMENT") TO BE PUBLISHED BY THE COMPANY, AND ANY SUPPLEMENT
THERETO, IN CONNECTION WITH THE PLACING ("PLACING") OF ITS ORDINARY SHARES
("ORDINARY SHARES") AND THE PROPOSED ADMISSION  OF THE SHARES TO TRADING ON
THE AIM MARKET OF LONDON STOCK EXCHANGE PLC ("LONDON STOCK EXCHANGE").  A
COPY OF THE ADMISSION DOCUMENT WILL, FOLLOWING PUBLICATION, BE AVAILABLE FOR
VIEWING ON THE COMPANY'S WEBSITE
AT HTTPS://ARTEMISRESOURCES.COM.AU/INVESTORS/

THIS ANNOUNCEMENT CONSTITUTES A FINANCIAL PROMOTION FOR THE PURPOSES OF
SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000, AS AMENDED AND HAS
BEEN APPROVED BY WH IRELAND LIMITED WHICH IS AUTHORISED AND REGULATED BY THE
FINANCIAL CONDUCT AUTHORITY.

 

 21 January 2022

 

Artemis Resources Limited

("Artemis Resources", the "Company" and together with its subsidiaries, the
"Group")

 

Intention to float on AIM

 

Artemis Resources, a Perth-based and ASX-listed mining exploration and
development company, is pleased to announce its intention to seek admission of
the entire issued and to be issued share capital of the Company to trading on
the AIM market of the London Stock Exchange ("Admission").

Admission is expected to take place on or around 7 February 2022 under the
TIDM 'ARV'.

Artemis is led by an experienced team focussed on creating shareholder value
from its 100% owned projects in Western Australia - the Paterson Central
project, adjacent to the Havieron gold and copper discovery near Telfer in the
East Pilbara and the Greater Carlow Gold-Copper-Cobalt Project in the West
Pilbara.

 

HIGHLIGHTS:

 

High impact, exploration focused gold company with opportunities in Australia;
in some of the most exciting new copper-gold provinces globally

·    Leverage to exploration success at Paterson Central: The Paterson
Central project is 100%  owned by Artemis Resources and is located at the
centre of a discovery revival in the remote Paterson Province of Western
Australia, which has already attracted significant investment, including:

o  the 27 Moz Telfer Gold mine;

o  Rio Tinto's exciting Winu Copper Discovery; and

o  the growing 4.4 Moz. Newcrest Mining Limited   /
Greatland Gold Havieron Gold Copper Discovery.

Artemis' wholly owned landholding provides leverage to exploration success for
its shareholders.

·    Potential for a large, high grade, gold-copper-cobalt deposit at
Carlow Castle with an   identified processing route at Radio Hill

o  The Carlow Castle gold, copper and cobalt project is a  highly
prospective 1,059km2 tenement package located near Karratha, with
good access to infrastructure and is c.35km from Artemis' 100% owned Radio
Hill Processing Plant.

o
There is an existing resource at Carlow Castle and recent exploration campaigns have highlighted
the potential for substantially more resource to be discovered in areas
surrounding the current mineral resource outline, that could significantly
upgrade the size of the overall Greater Carlow mineralised system.

o  Target of 1.0M oz Au equivalent by end of 2022

 

Fully funded to deliver significant near and medium term progress

·    Well-funded work programme for 2022: Assuming completion
of the Placing, the Company will have sufficient      capital to
implement its drill programme for 2022 which includes:

o  At Paterson Central:

§ Recommencement of Phase 1 drilling, beginning shortly

§ Follow-up drilling at holes where initial encouraging geology was
identified

o  At Carlow Castle:  A focus on increasing resource footprint through
extending the limits of known  mineralisation, including:

§ extend near surface mineralisation at the copper-gold CrossCut Zone,
including drilling untested parallel zones

§ extend recently identified high grade gold shoots at the Western Zone

§ extend higher grade copper-gold-cobalt mineralisation at depth in the
Eastern Zone know to be open to at least ~530m from surface

§ follow-up on the recent Chapman discovery ~ 1km south of Carlow (LFRC07 -
10m@ 3.40% Cu, 1.75 g/t Au)

 

Experienced management team with a clear strategy to grow value and a track
record of delivering shareholder return

·    Experienced Board and management team: The UK/Australian-based Board
brings together a team with the right balance of skills for the Company's
current stage of development including extensive experience in the mining
industry, demonstrated ability to access the capital markets and a proven
track record of delivering shareholder value. The Board has a deep
understanding of the UK and Australian capital markets, the Pilbara region
and specifically of the Patersons Range whilst also providing a
solid understanding of multi-jurisdictional quoted company governance requirements.

·    Demonstrable track record: The Board have a track record of
delivering shareholder value.

o  Alastair Clayton, Executive Director, is a qualified geologist and mining
executive with extensive experience in evaluating, optimising and financing
large scale mining projects internationally. He was previously a Director of
ASX100 company Extract Resources Limited, representing major shareholder AIM
listed Kalahari Minerals PLC, both sold for a combined value of A$2.2bn.

o  Mark Potter, Non-Executive Chairman, has over 15 years' experience in
natural resources investments. He is a Director of AIM listed Metal Tiger plc,
which sold MOD Resources to Sandfire Resources for A$167m in June 2019 and is
Chairman of GreenTech Metals Limited, an ASX listed battery metals explorer,
which has seen a share price increase of over 75% since its IPO on 4 January
2022. Mark was a former Director of Anglo Pacific Group, a London listed
royalty company, where he completed US$90m of royalty deals.

·    Focused strategy: Since April 2020, the Company has undertaken a
divestment programme whereby it has disposed of non-core assets which will
allow the Board to focus solely on delivering value for Shareholders at
the Company's 100%-owned projects at Paterson
Central and Greater Carlow, as well as the Radio Hill Plant.

 

Alastair Clayton, Executive Director, of Artemis Resource Limited, said:

"With this AIM listing, the Company is providing an efficient and convenient
platform upon which UK-based investors can now own Artemis stock and access
its exciting exploration and development projects in Western Australia. As
Havieron was discovered by a UK-based company, there is deep understanding of
the Paterson Province and the huge potential that the region holds. The
Director's believe Artemis provides shareholders unrivalled leverage to
further exploration success at Paterson Central with the benefit of an advance
resource growth programme at the Greater Carlow Project plus the Radio Hill
facility to support the current valuation."

"With rigs at both Paterson Central and Greater Carlow due to re-start soon,
we will be generating significant amounts of news and results for the
remainder of 2022. The Artemis team look forward to the opportunity before us
with some relish and would like to thank our existing and new shareholders for
their ongoing support."

THE PLACING

The Company intends to raise up to £5 million by means of the Placing. WH
Ireland is acting as Sole Bookrunner and Nominated Adviser in relation to the
Placing and Admission and the net proceeds of the Placing will be primarily
applied for the development of the Group's Carlow Castle project and Paterson
Central project as well as working capital. It is intended that the Placing
will be conducted by way of an accelerated bookbuild process (the
"Bookbuild"). A further announcement confirming the opening of the Bookbuild
including the terms and conditions applicable to the Placing is expected to be
made in due course.

The Company's Ordinary Shares are listed on ASX (ASX:ARV) and are traded on
the Frankfurt Stock Exchange (FRA:ATY) and the OCT Markets Group
(OTC:QBARTTF). Before subscribing for or purchasing any shares in the Company,
persons viewing this announcement should ensure that they have read and fully
understand and accept all information and risks, which will be set out in the
Admission Document if published.

 

For further information on the Company, please
visit https://artemisresources.com.au/ or contact:

Enquiries

 Artemis Resource Limited                                              via Camarco
 Alastair Clayton

 WH Ireland Limited

(Nominated Adviser and Sole Broker)
 Jessica Cave / Megan Liddell (Corporate Finance)                      Tel: +44 20 7220 1666

 Harry Ansell / Daniel Bristowe / Adam Pollock (Corporate Broking)     Tel: +44 20 7220 1648

 Camarco (Public Relations)                                            Tel: +44 20 3781 9244
 Gordon Poole / James Crothers                                         Email: artemis@camarco.co.uk

 Emily Hall / Rebecca Waterworth

 

 

 

Forward looking statements

All statements other than statements of historical fact, contained in this
announcement constitute "forward looking statements". In some cases forward
looking statements can be identified by terms such as "may", "intend",
"might", "will", "should", "could", "would", "believe", "forecast",
"anticipate", "expect", "estimate", "predict", "project", "potential", or the
negative of these terms, and similar expressions. Such forward looking
statements are based on assumptions and estimates and involve risks,
uncertainties and other factors which may cause the actual results, financial
condition, performance or achievements of the Company, or industry results, to
be materially different from any future results, performance or achievements
expressed or implied by such forward looking statements. Except as required by
the AIM Rules for Companies, the Company expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained in this announcement to reflect any
change in the Group's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is based. New
factors may emerge from time to time that could cause the Company's business
not to develop as it expects, and it is not possible for the Company to
predict all such factors. Given these uncertainties, prospective investors are
cautioned not to place any undue reliance on such forward-looking statements
except as required by law.

Important Information

 

The contents of this announcement, which has been prepared by and is the sole
responsibility of Artemis Resources Limited, have been approved by WH Ireland
Limited solely for the purposes of section 21 of the Financial Services and
Markets Act 2000 (as amended).

The information contained in this announcement is for background purposes only
and does not purport to be full or complete. No reliance may be placed by any
person for any purpose on the information contained in this announcement or
its accuracy, fairness or completeness.

This announcement is not for distribution, directly or indirectly, in or into
the United States (including its territories and possessions, any State of the
United States and the District of Columbia), Australia, Canada Japan, New
Zealand or the Republic of South Africa or any other jurisdiction where to do
so would constitute a violation of the relevant laws of such jurisdiction. The
distribution of this announcement may be restricted by law and persons into
whose possession any document or other information referred to herein comes
should inform themselves about and observe any such restriction. Any failure
to comply with these restrictions may constitute a violation of the securities
laws of any such jurisdiction.

This announcement does not constitute or form a part of any offer or
solicitation to purchase or subscribe for, or otherwise invest in, securities
in the United States, Australia, Canada, Japan, New Zealand or the Republic of
South Africa or any other jurisdiction where it is prohibited to do. The
Ordinary Shares referred to herein have not been, and will not be, registered
under the United States Securities Act of 1933 (the "Securities Act"). The
Ordinary Shares may not be offered or sold in the United States except
pursuant to an exemption from or in a transaction not subject to the
registration requirements of the Securities Act. There will be no public offer
of securities in the United States or in any other jurisdiction.

Any subscription or purchase of the Company's shares in the possible Admission
should be made solely on the basis of information contained in the Admission
Document which may be issued by the Company in connection with the Admission.
The information in this announcement is subject to change. Before subscribing
for or purchasing any shares in the Company, persons viewing this announcement
should ensure that they fully understand and accept the risks which will be
set out in the Admission Document if published. No reliance may be placed for
any purpose on the information contained in this announcement or its accuracy
or completeness. This announcement shall not form the basis of or constitute
any offer or invitation to sell or issue, or any solicitation of any offer to
purchase or subscribe for any shares in the Company or any other securities
nor shall it (or any part of it) or the fact of its distribution, form the
basis of, or be relied on in connection with, any contract therefor.

The date of Admission may be influenced by a variety of factors which include
market conditions.  The Company may decide not to go ahead with the Admission
and there is therefore no guarantee that the Admission Document will be
published or that Admission will occur. Potential investors should not base
their financial decision on this announcement. Acquiring investments to which
this announcement relates may expose an investor to a significant risk of
losing all of the amount invested.

Persons considering making investments should consult an authorised person
specialising in advising on such investments. The value of shares can decrease
as well as increase. Potential investors should consult a professional advisor
as to the suitability of a possible investment.

Nothing contained herein constitutes or should be construed as (i) investment,
tax, accounting or legal advice; (ii) a representation that any investment or
strategy is suitable or appropriate to your individual circumstances; or (iii)
a personal recommendation to you.

None of WH Ireland Limited or any of their respective affiliates or any of
their or their affiliates' directors, officers, employees, advisers or agents
accepts any responsibility or liability whatsoever for/or makes any
representation or warranty, express or implied, as to the truth, accuracy or
completeness of the information in this announcement (or whether any
information has been omitted from the announcement) or any other information
relating to the Company, its subsidiaries or associated companies, whether
written, oral or in a visual or electronic form, and howsoever transmitted or
made available or for any loss howsoever arising from any use of the
announcement or its contents or otherwise arising in connection therewith.

WH Ireland Limited is acting exclusively for the Company and no-one else in
connection with the possible Admission. They will not regard any other person
as their respective clients in relation to the possible Admission and will not
be responsible to anyone other than the Company for providing the protections
afforded to their respective clients, nor for providing advice in relation to
the possible Admission, the contents of this announcement or any transaction,
arrangement or other matter referred to herein.

WH Ireland Limited is authorised and regulated by the Financial Conduct
Authority in the United Kingdom and is a member of the London Stock Exchange.

For the avoidance of doubt, the contents of the Company's websites (or any
other website operated by or on behalf of the Company and/or its subsidiaries)
are not incorporated by reference into, and do not form part of, this
announcement.

 

 

 

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