Artemis Resources (ASX: ARV) has received firm commitments to raise GBP $5m (~$9.5m) to gain a dual listing on the London Stock Exchange. The issue price of GBP $0.0375 (~$0.071) represents zero discount to the last traded ASX price on 21 January.
Investors responded positively to the news, with the company jumping 8.57% at open.
Executive Director Alastair Clayton commented:
“That we have successfully raised the maximum amount approved by the Board at zero discount to the last traded price in Australia is, I believe, testimony to the opportunity and value proposition presented by our Paterson Central and Greater Carlow/Radio Hill gold - copper projects in Western Australia.”
Cyprium Metals (ASX: CYM) has reported further assay results from drilling at the company’s Nifty Copper project. According to the company, this has enhanced the possibility of a large-scale open pit development.
Managing Director Barry Cahill said:
“These assay results continue to confirm the presence of a substantial zone of copper mineralisation which is up-plunge of the former underground mine.”
KGL Resources (ASX: KGL) has updated the mineral resource estimate for the company’s Bellbird deposit. The new estimate marks a 10% increase in contained copper, with resource tonnes up 28%. However, the copper grade has come in at a slightly lower 1.97%.
The stock rallied 7.7% at open but sank with the broader market, now just 1% higher.
Managing Director Simon Finnis commented:
“Even though the copper grade at Bellbird is lower for this mineral resource estimate, the more continuously-defined mineralised lodes will greatly assist with our mining strategy.”
Centaurus Metals (ASX Code: CTM) has reported that the Jaguar Nickel Sulphide project in northern Brazil continues to deliver outstanding results ahead of the project’s definitive feasibility study (DFS). The DFS–along with a maiden ore reserve estimate–is scheduled for completion by the end of 2022.
The company's stock jumped 8.2% as the market opened. However, profit taking and broader market weakness has its shares trading -1% lower.
Commenting on the announcement, Managing Director Darren Gordon said:
“With these deposits remaining open at depth, there is still an enormous amount of resource growth potential available to us as we progressively drill deeper.”
Saturn Metals (ASX: STN) rocketed up 10.96% at the open after announcing drilling results from Bob’s Prospect–an area within the company’s Apollo Hill Gold Project, 60km south-east of Leonora, WA.
Managing Director Ian Bamborough said:
“Improving results at Bob’s continue to show a target of considerable size with increasing grade vectors and promising geology.”
Written By
Market Index
Get the latest news and insights direct to your inbox