Republishing a previous post Is Artemis Res. Ltd. (ASX:ARV) an...

Republishing a previous post
Is Artemis Res. Ltd. (ASX:ARV) an investment opportunity?
09/01/20 20, 42308551
Post #: 42308551

Among other assets and prospects Artemis also holds 70% of the Munni Munni PGE-deposit, the largest now known PGE resource in Australia, please see the brief information below.

Munni Munni - JV PGE-project (ASX:ARV 70% / 30% PGM:ASX)
Fortescue Sediments above Munni Munni PGE Deposit -Karratha, Western Australia-
ASX / Media Announcement 6 November 2017
Excerpt:
”The Company has now determined that significant Fortescue Group sediments sit over major portions of the Munni Munni intrusive complex (MMIC) that hosts the Munni Munni PGE resource. The MMIC is the largest intrusion in the West Pilbara and hosts a JORC 2004 compliant Resource of: 24 Mt @ 2.9 g/t Platinum Group Element (PGE) + gold (1.4Mt Inferred, 9.8Mt indicated and 12.4Mt Measured) (0.83Moz platinum. 1.14Moz palladium, 152Koz gold and 76Koz rhodium).”

https://www.platinaresources.com.au...e-Sediments-above-Munni-Munni-PGE-Deposit.pdf

Helix Resources. 2001
Excerpt: I
”Following the finalisation of a scoping study during the March quarter, .. The scoping study indicated that the Central Zone alone would underpin a highly profitable 15-year operation producing 100,000 oz/y of PGM and gold, plus 5,000 t/y of copper and nickel. After base metal credits, total cash operating costs are estimated at US$250/oz, and total pre-production capital costs are estimated at A$71 million. Australian Mining Consultants has identified a preliminary reserve of 7.9 Mt, mineable by a combination of a small open-pit and underground operations at a rate of 1.5 Mt/y. Current drilling by Helix is aiming to increase the potential mining reserve in the Central Zone to 20 Mt.”

https://www.thefreelibrary.com/Helix Resources-a075960668

Helix Resources Ltd. Annual report 2003
Excerpt, page 11, Munni Munni Project:
Following exploration expenditure to date of more than $12 million.. Most of the recent expenditure, 8.5 million in total, was sole funded by Lonmin plc. under a joint venture agreement in 2001.

This decision was reached after a detailed review of the Project concluded that, because of the high palladium component of the resource, it did not represent a viable development opportunity at current low palladium prices. With defined grade of 2.9 g/t and high proportion of palladium relative to platinum, typical of Australian PGM projects, Munni Munni is reliant on strong palladium price.

https://www.asx.com.au/asxpdf/20031010/pdf/3jbdrw7hnjv6c.pdf

6 November 2017 – ARV: Fortescue Sediments above Munni Munni PGE Deposit
Excerpt:
”Accelerated exploration at Munni Munni is entirely possible as the project has the considerable advantage of sitting within 33.5 km2 of approved Mining Leases and 42.5 km2 of approved Exploration Licences, all with heritage agreements in place, approved heritage surveys in place and approved Programme of Works in place with the Department of Mines Industry Regulation and Safety (DMIRS).”

https://www.marketscreener.com/PLAT...ments-above-Munni-Munni-PGE-Deposit-25447911/

Munni Munni, gross in-situ PGM values, base metal credits are excluded, Jan 06, 2020:
- 0.83 Moz platinum x 992 US$/troy ounce = 823 MUSD
- 1.14 Moz palladium x 2 027 US$/troy ounce = 2 311 MUSD
- 0.152 Moz gold x 1 574 US$/troy ounce = 239 MUSD
- 0.076 Moz rhodium x 6 275 US$/troy ounce = 477 MUSD

Total: 3 850 MUSD
- Artemis Resources Ltd. (70%) 2 695 MUSD
- Platina Resources Ltd. (30%) 1 155 MUSD

P.S.:
Artemis Resources Ltd. Mkt. Cap. 23.46 MAUD
Platina Resources Ltd. Mkt. Cap. 5.546 MAUD

DYOR