Artemis Resources in trading halt as it plans capital raising

Artemis Resources Ltd (ASX:ARV) (FRA:AY) (OTCMKTS:ARTTF) has been granted a trading halt in its securities as it has an announcement pending in relation to a capital raising drive.

The Western Australian gold asset holder asked market regulator ASX Ltd (ASX:ASX) to halt trading in the company’s securities until Monday, October 14, 2019, or when it makes an announcement to the market. 

Artemis shares last traded at 3.9 cents and the company has a market capitalisation of $29.22 million.

Pilbara portfolio

It has a portfolio of tenements that includes the flagship Carlow Castle Gold-Copper-Cobalt Project in the West Pilbara region of Western Australia.

A JORC resource estimate for the project sized it as 7.7 million inferred tonnes grading 1.06 g/t gold, 0.51% copper and 0.08% cobalt.

The company also holds ground in the East Pilbara near Greatland Gold PLC‘s (LON:GGP) globally-significant famed Havieron project.

A prize intersection from Greatland’s Paterson province project featured 275 metres grading 4.77 g/t gold and 0.61% copper.

Also found in the district is Newcrest Mining Limited’s (ASX:NCM) (FRA:NMA) (OTCMKTS:NCMGF) 27-million-ounce Telfer gold mine.

Story by ProactiveInvestors