Artemis Resources Ltd ARTTF

Aetemis obtains more Comet Well area

[brandy2000]

From JandJ at hotcopper

https://hotcopper.com.au/threads/ann-artemis-to-acquire-302-sq-km-next-to-comet-well-radio-hill.3828483/#.WgVGE0idZTZ

Time for a glass of Noilly Prat on ice - while I try to get my head around the consequences of these agreements. 

My comments are just thinking out loud - to help discussion over the weekend.

At worst this agreement brings this land into the Novo JV with a 35/35/30 split - at best these tenements will remain outside the Novo JV and give DL a very substantial bargaining chip and/or enough land to go it alone and possibly make a Wit2 mine in his own right. From that point of view this is fantastic news.
Further - Novo's big problem seems to be a lack of granted tenement to get started on in his own right - it is critical because of his $1.3 billion cap that he gets on with it or see SP shrinkage. Now DL's ARV has denied him a big chunk of explorable land.

I conclude that because Novo was not included in the deal that it is DL's objective to push ARV's interests separately. The consequences are not clear - I simply do not know, but at first blush that looks just fine.

Remember that when ARV signed the JV with Novo the concept of a huge rich gold endowment in conglomerate was just about inconceivable. Some Pilbera dwellers still think that way, I gather,


In the last para of the ann, talking about the ARV/Novo JV the following statement appears again :-

"Further definitive agreements covering approximately 19 Artemis tenements/tenement applications that are already subject to third party interests are expected to be signed once all necessary third-party consents have been obtained."

I take that on its stated meaning that there will be new agreements made on these issues, and that the existing agreement is not binding on them. This is extremely important now that we (or if you like Eric Sprott) are 80% sure that Wit2 is all that we expect of it so far, and may go on to be a staggering accomplishment. It gives DL further leverage to achieve the best outcome for ARV and shareholders.

The worst thing that could happen to us is that Novo could land bank our JV and do its own 100% thing, if it has the right to do so. I think DL has done these deals to offset that risk.

What wouldn't I give to have doubled up on ARV at the close today. Would you??

[brandy2000]

“Today we have signed a binding agreement to acquire the controlling interest in the last significant tenements on the Purdy’s Reward, Comet Well, Whundo and Munni Munni projected conglomerate trend that were not under the control of Artemis or Novo Resources previously. This plugs a very big gap in the map and provides Artemis with the exploration potential along strike from Comet Well1 and in

[brandy2000]

Thankyou David Lenigas.

[reeJoey]

I just posted this exact HotCopper post 30 minutes.  What purpose does it serve to post again??

[reeJoey]

LOL, let's post it a third time: Time for a glass of Noilly Prat on ice - while I try to get my head around the consequences of these agreements.  My comments are just thinking out loud - to help discussion over the weekend. At worst this agreement brings this land into the Novo JV with a 35/35/30 split - at best these tenements will remain outside the Novo JV and give DL a