- Mining exploration company Artemis Resources (ARV) has appointed a new executive director, Alastair Clayton
- Alistair has over 2 decades of experience working with ASX and LSE listed companies
- In addition, Artemis has announced a $2 million capital raise to help fund operations
- Settlement and issue of those shares is expected around January 31
- Artemis is down 7.14 percent at market close, trading at 2.6 cents each.
Mining exploration company Artemis Resources (ARV) has appointed Alastair Clayton as an Executive Director.
Alastair will be based in the U.K. and will assist with the company’s projects, finance, marketing and strategy.
In addition to the appointment, Artemis says it has received firm commitments to raise $2 million. This will fund drill targets at its Patersons Central gold project.
As well as increasing copper and gold resources at its Carlow Castle project.
Alistair’s background includes over two decades experience with ASX and LSE listed companies.
Artemis’ Non-Executive Chairman, Sheik Maktoum, said Alastair’s experience, particularly as Executive Director at Primorus Investments, is favourable.
“Importantly, with his role at Primorus Investments AIM:PRIM, Alastair has been a vocal supporter of the Patersons Range area and understands the significant potential the company holds as our project surrounds Haverion,” Sheik Maktoum said.
Sheik Maktoum also said Alastair’s placement in the UK will help the company seek a “dual listing in london where investors have a better appreciation of the Company’s portfolio of assets and the value that can be unlocked.”
Speaking of his new position with Artemis, Alastair said his experience as a board member of a number of mining companies, leads him to believe the company is “significantly undervalued.”
Alastair believes Artemis presents a rare opportunity to invest in a company with projects located in a tier 1 mining jurisdiction.
“Taking Carlow Castle to a million ounces and beyond, being in the box-seat next to a potentially Tier 1 Gold/Copper discovery in the Paterson Range, closing a huge implied arbitrage with Novo Resources in our JV, and monetising a significant number of other Palladium/Gold and Copper projects gives shareholders many reasons to be excited about the coming year,” Alastair told the market.
The $2 million capital raise consists of an issued 80,000,000 shares at a price of 2.5 cents per share.
The price was determined as 10 percent lower that the 5 day volume weighted average price at January 23.
The company says settlement and issue of shares in relation to the capital raise is expected on or around January 31.
Artemis is down 7.14 percent at market close, trading at 2.6 cents each.