From someone who knows a lot more than me, on LinkedIn:Today's...

From someone who knows a lot more than me, on LinkedIn:

Today's JORCWTF is Artemis Resources (ASX:ARV) reporting nuggets from a visible gold bearing vein in the Pilbara, almost like it's 2019 and someone has found watermelon nuggets (you know how much I loved that stuff). Artemis has had two major refreshes of its upper echelons since that formative period in its' history, and yet here we are in 2024 seeing the company reporting nuggets of gold from the Pilbara. No learnings seem to have stuck to the sides in the past 5 years. The company is reporting today overlimit >10,000g/t Au from rock chip sampling, and contents range up to 69.26% Au, 55.38% Au, 47.19% Au and 22.31% Au. The company of course cautions that visual abundances don't mean jack, blah blah. In fact, they have a cautionary statement after each photo of the nuggets. I think that's fine, but they should also be forced to say "GUYS ITS A NUGGET DO NOT INVEST BASED ON A NUGGET".

Whilst we all love a good VG report (see Lunnon Metals' panning their chips, for example), it's worth remembering that no matter the breadth and length of the cautionary statements, it's still VG. As Lodestar investors found to their chagrin at Camel Hills, as Artemis and all the other Wits 2.0 investors discovered to their chagrin (except DEG which found Hemi), this will go nowhere fast because 66% Au is not the grade of the deposit; that's the bulk of the other 95 samples, which (with top cut) average ~0.5g/t. You heard it here first, folks, it's a nothingburger. Caveat emptoror!