Australia's Artemis Resources rises on deal to sell Novo Resources shares

Novo Resources

11/05/2018 05:18

** Gold-cobalt developer Artemis Resources Ltd  ARV.AX 
rises as much as 5.3 pct to A$0.20, its highest since May 4
    ** Artemis signs agreement to sell 4 mln Novo Resources Corp
 NVO.V  shares to Canadian mining co Kirkland Lake Gold Ltd
 KL.TO  for gross proceeds of A$20.7 mln ($15.6 mln)
    ** Last year, Artemis and Novo Resources signed a JV
agreement to fast track new gold discovery in Karratha, Western
Australia
    ** Kirkland has a 16.4 pct stake in Novo Resources,
according to Thomson Reuters Eikon data
    ** Artemis stock posts biggest intraday pct gain in a week
    ** More than 2.3 mln shares change hands, compared with the
30-day average of 1.5 mln shares 
 ($1 = 1.3278 Australian dollars)

 ((Aditya.Soni@thomsonreuters.com; +91 80 6749 1783; Reuters
Messaging: Aditya.Soni.thomsonreuters.com@reuters.net))