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Artemis Resources in trading halt ahead of capital raising news

The company’s securities will remain in a trading halt until Friday, June 14, 2019, or when an announcement is made to the market.
Gold nuggets
Nuggets from the Purdy’s Reward project in WA

Artemis Resources Ltd (ASX:ARV) has been granted a trading halt to the company’s securities by the ASX with a capital raising announcement pending.

The trading halt will remain in place until the beginning of trade on Friday, June 14, 2019, or when an announcement is made to the market, whichever occurs earlier.

Artemis' shares last traded at 3.8 cents.

READ: Artemis Resources and partner moving towards 100,000 tonne sampling at Purdy’s Reward

Last month Artemis Resources joint venture partner Novo Resources Corp (CVE:NVO) completed a mineralisation report and an outline of future work at the Purdy’s Reward Conglomerate Gold Project in WA.

The mineralisation report will be used to gain approval for a large sampling of up to 100,000 tonnes in total.

Novo is the manager of the Purdy’s Reward project under a 50/50 Artemis–Novo joint venture arrangement.

READ: Artemis Resources puts Ruth Well, Pilbara sulphide resource at 152,000 tonnes

Artemis executive director Ed Mead said at the time: “Novo is utilising advances in computer processing and mechanical ore sorting technology to allow the concentration and estimation of grade from sufficiently large volumes to then generate resources and economic models.”

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