APPOINTMENT OF UK BASED DIRECTOR AND
$2 M CAPITAL RAISE
• Appointment of Mr Alastair Clayton to the board as an executive director,
UK based, to assist with the Company’s projects, finance, marketing and
• Artemis has received firm commitments to raise A$2m from new and
existing local and international institutions and sophisticated investors
• Funds will be used for defining drill targets at Patersons Central gold
project adjacent to Newcrest/ Greatland Gold (GGP:AIM) Havieron
discovery in WA
• Funds will also be used for increasing the gold and copper resources at
Carlow Castle (current Inferred JORC 2012 resource 418,000 oz Gold
48Kt tonnes Copper, 7Kt Cobalt as released to ASX 20 November 2019)
• Divestment of the Company’s non-core precious metals and base metals
Artemis’s Non-Executive Chairman Sheik Maktoum commented;
"On the behalf of the Board I welcome Alastair as a director of the Company. He brings
considerable technical and corporate experience gained from two decades involved
with ASX and LSE listed companies. Importantly, with his role at Primorus Investments
AIM:PRIM, Alastair has been a vocal supporter of the Patersons Range area and
understands the significant potential the Company holds as our project surrounds
Haverion. Based in the UK, Alastair will also assist the Company with its plans to seek
a dual listing in London, where investors have a better appreciation of the Company's
portfolio of assets and the value that can be unlocked."
"Over the past year the Company, in conjunction with its technical consultants, has
significantly advanced the understanding of Carlow Castle, which we see as having the
potential to grow substantially in size, the Patersons Central project, and pursuing a
range of divestment options to rationalise the portfolio around a copper and gold focus
and free up capital"
Artemis’s new Executive Director Alastair Clayton commented;
“Having been involved in the financing and development of a number of medium and
large ASX, TSX and UK-listed mining companies over the last 20 years, it became
apparent to me that Artemis is significantly undervalued. Artemis presents a rare
opportunity to invest in a company with projects located in a tier 1 mining jurisdiction
and that has several assets with the potential to justify the current entire market
capitalisation of the Company.
In the past I have been privileged to be a board member of former ASX100 Extract
Resources representing major shareholder Kalahari Minerals PLC.
Both were taken over by Chinese Guangdong Corporation in 2012 for a combined
A$2.2B. I was also a co-founder of explorer turned multi-mine, dividend-paying coal
producer Universal Coal (UNV.AX).