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Artemis seeks AIM listing, aims to become Pilbara-focused gold producer

Following a strategic review, Artemis Resources Ltd. is seeking a listing on the London Stock Exchange's AIM segment by the second quarter as part of a plan to become a gold producer focused on Western Australia's Pilbara region.

As it eyes funding from U.K. and European investors, the ASX-listed company said March 25 that focusing on its Radio Hill processing plant would provide a quicker path to cash flow as many explorers in the region do not have their own plant.

To provide sufficient ore for Radio Hill, the company wants to develop the Carlow Castle gold-copper-cobalt project. A resource upgrade to the indicated category is expected by the third quarter, while a pre-feasibility study is expected by the first quarter of 2020.

Artemis also intends to follow-up initial work on the surrounding Monarch, Conqueror and Pipeline early-stage prospects as they are within trucking distance to Radio Hill and could supplement ore supply from Carlow Castle.

Once potential ore sources are secured and metallurgical requirements are defined, the company said it will complete upgrades at Radio Hill that are currently 80% finished.

As for its other assets, the company said it will still support its Purdy's Reward joint venture with Novo Resources Corp. while exploring other collaborations to secure ore for Radio Hill.

Artemis also said it plans to seek a joint venture over the Armada prospect in the highly prospective Paterson Ranges to allow the company to concentrate on its more advanced assets.