yangibana- what is it worth, page-27

Hey guys,

Two important sections from recent announcements:

* 3rd Nov 2010 Announcement:
"Although Artemis has over 7km of strike length of a carbonatite dyke under tenement, only a small portion of the strike length was able to be tested, as the Company is awaiting Government approval to explore several of its tenements containing the bulk of the mineralised strike."

* December 2010 Quarterly Activites Report:
"Artemis holds 60% of the Yangibana Rare Earth Project in Western Australia. The tenements comprise granted Exploration Licences E08/1043 and E08/1049 and Exploration Licence Applications ELA 09/1703, 1704, 1705 and 1706. The tenements are prospective for rare earths and uranium"

This combined with the unexplained change from 70% interest in Yangibana to a 60% interest in 2 tenements and 4 ELA's has me thinking that perhaps ARV got a bit burnt in that deal.....?

Regardless, the lack of action at these tenements appear to be related to waiting on Govt approval, and raising money with the aim of progressing their gold projects.

They have probably spent the minimum amount of money required to meet their obligations under the JV agreement with GTI resources on the Yangibana, Bali Hi and Cambridge Creek projects.

Once they sort this tenement issue out then they are more likely to spend the cash to prove up the resource and then most likely pursue a JV. In the meantime why wouldn't you go after Mt Clement.

Just my thoughts on the REE vs Gold project debate....

Cheers,
turtle