Junior Artemis Resources has completed A $7 million financing to finance exploration of its copper / gold project in Western Australia.
Artemis said on Thursday that it had received binding commitments from institutional and senior investors to place 1.167 billion shares at 6 cents a share.
The rights issue will be carried out within the existing placing capacity of Artemis and does not require shareholder approval.
Executive Director Alastair Clayton (Alastair Clayton) said: "the company is pleased with the strong support for this placement and we are pleased to welcome many well-known new institutions to register with Artemis."
With the resettlement fund, Artemis now has about A $10 million in cash to finance 8000-meter diamond drilling for the Paterson Central gold / copper project, adjacent to the gold miner Newcrest's Havieron.
Clayton said it was bullish on Paterson Central, as the only potentially leveraged gold / copper exploration project in Australia that could provide its shareholders with success. The Paterson Central project owned by Artemis, which is located in Havieron's world-class discovery, is currently under development, "
He pointed out that the Patterson Center has a large number of targets for drilling, and the company plans to drill for the rest of 2021.
Exploration of the Carlo Castle project has also begun.
