Artemis Resources Ord Shs ARTTF

Artemis and lenigas

[arh0070]

Artemis from a technical point of view looks like it is approaching a cyclical bottom ,its tax loss selling time in  North America ,not sure about australia .I doubt if there will be any announcement until Monday morning Aussie time if then ,its getting into Christmas time and low volume .Having thought about artemis a good bit I think that the company may have some valuable assets .The problem with the company is in fact Lenigas .I have seen this scenario multiple times in small mining companies where they persue multiple projects in an unfocused manner and burn up resources .Obviously the 4 million shares of novo is now worth much less .There are only 4 directors Of artemis one of whome lives in Dubai and has more important things to think about .Though Lenigas apparently has a mining degree if you look at his cv he has  acted  much more like a manic promoter in many different kinds of companies ,many none mining related ,not the kind of engineering geologists types you need to focus on one project and bring it to production .
The other worry about Lenigas is the money people behind him who stay very much in the background .There agenda is much more likely to make money fast and move on rather than developing a mine which produces cash flow which will take months/years
The huge number of shares out and the constant dilution that will be necessary to follow up on these multiple projects will keep share prices down .Many small aussie miners have the same problem though some are run by professional geologists ,engineers rather than promoters .
Whether its a good time to buy or not is an individual decision ,obviously better now than when it was 50 cents and hyped to the moon .Perhaps Sprott and Makuch will step in and provide more professional management if it looks like they may have a viable mine .