re: artemis

What is clear from the latest announcement is that good potential exists at Mt Clement. However i am now of the opinion that the market will only pay attention once a JORC resource has been defined. From a discussion with management prior to Christmas i am led to believe that a JORC calculation is planned to be completed by the middle of this year. Substantial drilling will be required by then to meet this deadline.

The constant selling down on any good news is clearly a deliberate strategy. IMO it is only for one purpose. To pick up cheap stock ! Either for ones broking clients or to keep the price supressed so that if and when a bid is made it can be done so at a much lower level. That is not a conspiracy theory.It is just the way that business is often done !

The company would be aware of the games being played here.

I have previously posted that IMO the most compelling suitor for artemis is Northern Star ( NST ). Consider that

1. They already own 20% of the Mt Clement project.
2. They only have reserves at Paulsens to last a few years.
3. Although making new discoveries at Paulsens they are at considerable depth & thus considerable expense to access.
4. Buying oz's in the ground is cheaper than exploring for them yourself.
5. There are plenty of cheap second hand treatment plants on the market. No need to expand Paulsens. Cheaper to just place a plant at Mt Clement.
6. NST's current market cap of $96M is looking very toppy based on their current operation & reserves.
7. NST currently has substantial free cashflow & a healthy share price.They would not have to go into debt to take out artemis.

As far as the REE prospects are concerned. One has to take into account that a huge amount of work would be required on these prospects to bring them to a point where a resource could be mined. We are talking years here people and millions upon millions of $. Please take a look at the history of Alkane and Lynas. Neither is what one would call an overnight success story.

How many of you would be prepared to sit patiently by for several years and contribute to many rights issues whilst artemis works on their ree prospects ? All the while knowing that the current shortage of rare earth and high prices could well turn into a surplus & low prices.

Dont think for a minute that the current frenzied price levels will be maintained. The Chinese are using their stranglehold to play power games.The Japanese and Americans will not allow this to continue and are already working on alternatives and opening up old mines.

IMO Artemis will either totally sell out their ree prospects or maintain a small free carried interest.

Cashflow from gold mining etc is more important to a small comapany such as this ! It is for that reason i think that apart from Mt Clement it is Yandal that is more likely to see action before any further work is contemplated at Yangibana.