Artemis Resources Ltd ARTTF

CAPITAL RAISE OF $12 MILLION

[Markedtofuture]

ASX / Media Announcement 19 September 2017

ARTEMIS IN A STRONG CASH POSITION TO PARTNER WITH NOVO IN KARRATHA CONGLOMERATE GOLD PROJECT DEVELOPMENT


Artemis Resources Limited (ASX Code: ARV)(“Artemis”) advises that it has received firm commitments to raise a total of $12 million (before costs), through the issue of 60 million Artemis ordinary shares at A$0.20 (20 cents) per share.

Affiliates and clients of Sprott Capital Partners in Canada collectively subscribed for A$4 million of the capital raise with $3 million coming from Global Investment Strategy UK Ltd and the balance coming from a number of other institutional and professional investors from the USA, Netherlands and Australia.

David Lenigas, Artemis’s Executive Chairman, commented; “These funds will allow Artemis to play a key role in working closely with Novo on the 50/50 Joint Venture for conglomerate and/or paleo placer gold at Purdy’s Reward and other targets within the mutual JV ground in the Karratha region of Western Australia.”

“We are anticipating that Novo will quickly spend the required $2 million to earn-in to their 50% of the JV and we are very appreciative of the institutional and professional investors support that allows Artemis to significantly boost its cash reserves so that the Company can contribute towards and maintain its 50% interest in this exciting project."

CONTACTS: For further information on this update or the Company generally, please visit our website at www.artemisresources.com.au or contact: Investors / Shareholders Edward Mead Executive Director Telephone: [phone] Email: [e-mail]

[goldminer01]

This post has been removed in accordance with Community Policy

[Zerosum]

Sprott really believes in the potential of the Pilbara. In for a penny on for a pound. Wow! Still, 60 million more shares. But you know, I think they are in the right kind of hands this time.

[TXRogers]

Maybe so, but one can see the basic problem here.  Artemis is funding via share dilution.  As I mentioned in previous posts, it becomes a disipation of value if continues indefinately.  There are 38 land tenements in the JV.  The JV is under the fulkl control of NVO - and they will set the exploration schedule, the development plans, and the dates on expected ROI.  And NVO

[goldminer01]

This post has been removed in accordance with Community Policy

[Millsking]

It's a smart move 

[nomomoney24]

Yes a very smart move and as a NVO share holder first,  I hate to say it but putting the screws to NVO and getting 4 million NVO shares was also a smart move.  Management with tentacles may be the best thing for ARV share holders. I know a lot of reallyrich shady characters.

[TXRogers]

I don't disagree.  Not really much choice for now.   But it's an unsustainable strategy if ARV exploration fees double or triple (or more) from here.   Share Dilution is a curse, if it's not countered by something else. Tx

[kingdaddymack]

This post has been removed in accordance with Community Policy

[Raptor7]

How interesting to watch this unfold. Aussie investors apparently react so differently than do North American investors in situations like this. If a lowly stock like this went up four-fold on vastly improving prospects and this culminated with an investor like Eric Sprott stepping in to do a big investment not far from its high, the stock price would have absolutely taken off on this news

[TXRogers]

Interesting observation.   I used to wonder about it as well. I believe that Aussies are actually quite logical and reserved in their response to these types of events.  The amount of share dilution that retail investors on the ASX tolerate is significantly more higher than that of what North American investors could stomach.  So it's a natural response to a phenomenon that is

[Zerosum]

Well, we saw who the businessmen were here. Hint: Not the ones getting air miles. Perhaps ARV should have assayed for disseminated fine grain gold first instead of relying on a nugget effect, getting the share price up then entertaining a financing. If wishes were fishes. 1 billion s/o here we come.

[nomomoney24]

Zerosum you way over reacting, Management see's there big pay day. There not going to dilute for just for the sake of getting a pay check like in the past. We will do well here sooner than latter!

[Zerosum]

I do that... I agree. Eric knows what's there even if most Auzzies don't. I do think he got himself a great deal. Time will tell.  

[TXRogers]

Yes, no doubt. ARV is a great deal considering the market cap. It's going to very interesting to see how DL dances about with ES. One just has got to love this game going down. Tx