Sale of 51% interest in Munni Munni PGE Project.HIGHLIGHTS
• Artemis has agreed to sell a 51% interest from its total 70% interest in Munni Munni (“the Project” for a GBP25,000 (~A$50,000) option fee and 60,000,000 new shares at 1 pence per share (A$1,150,000) in AIM listed Empire Metals Limited (EEE.L) (“Empire” and its partner, representing circa 24% of the enlarged share capital of Empire post transaction.
• Stock issued at 1p but trade closed in London overnight at 1.85p or ~A$2,100,000 in value.
• Significant boost to Artemis liquidity with total group cash and tradable securities now in excess of A$8.0m.
• Artemis retains the remaining 19% of its direct beneficial interest in the Project and will be free carried to completion of a bankable feasibility study.
• Transaction provides pathway for rapid progression of the Munni Munni PGE Project, Australia’s largest ever published PGE resource, whilst Artemis retains significant direct and indirect project exposure without the requirement to contribute further funding.
• Further key milestone in divestment programme allowing financial and management resources to focus on the advancement of the Carlow Castle and Paterson Central Au/Cu Projects.
ARV Price at posting:
3.1¢ Sentiment: None Disclosure: Held
for a GBP25,000 (~A$50,000) option fee and 60,000,000 new shares at 1 pence per share (A$1,150,000) in AIM listed Empire Metals Limited (EEE.L) (“Empire”
