Bullboard - Stock Discussion Forum Artemis Gold Inc V.ARTG

Alternate Symbol(s): ARGTF

Metals & Mining Gold

Artemis Gold Inc. is a Canada-based gold development company. The Company is engaged in identifying, acquiring, and developing gold projects in mining-friendly jurisdictions. The Company operates through a single segment: the exploration and development of mineral properties. The Company is focused on the development of the Blackwater Gold Project (Blackwater Project) in central British... see more

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TSXV:ARTG - Post Discussion

Artemis Gold Inc > 100k oz. forward sale aggreement

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Post by TELEMARKER on Jul 13, 2024 5:32pm

100k oz. forward sale aggreement

Artemis Gold Initiates Gold Hedging Program for Blackwater

May 4, 2023

Vancouver, British Columbia – Artemis Gold Inc. (TSX-V: ARTG) (“Artemis” or the “Company”) is pleased to announce that it has initiated a gold hedge program for the Company’s Blackwater Mine project (the “Blackwater Mine”) by entering into gold forward sales agreements to deliver 100,000 ounces of gold bullion between March 2025 and December 2027 at a weighted average sales price of CAD$2,836 per gold ounce.

Steven Dean, Chairman and CEO of Artemis Gold commented, “The initiation of a modest gold hedge program is a prudent and important step in underwriting the returns on capital invested in the early years of operations of the Blackwater Mine. The effective price on the first 100,000 gold ounces is at or near historic highs and approximately 40% higher than the gold price assumption used in our September 2021 Feasibility Study. Hedging these ounces is also a risk management tool to further de-risk servicing of the Company’s bank debt funding for the development of the mine.”