17th Jul 2020 10:52
(Alliance News) - Natural resources-focused investment firm Metal Tiger PLC said Friday it has subscribed for 7.1 million shares in Artemis Resources Ltd for AUD0.07 per share, or AUD500,000 in total, around GBP278,308.
Artemis is an ASX-listed natural resources developer with a focus on the Paterson and Carlow Castle gold projects in Western Australia.
For the six months to the end of December, Artemis reported net assets of AUD54.2 million and a net loss of AUD8.1 million.
Following the subscription, Metal Tiger now has a 0.6% stake in Artemis's enlarged share capital.
"We are pleased to make this investment in Artemis as it progresses its aggressive exploration plans at Paterson and Carlow Castle. Following Metal Tiger's successful investment in Greatland Gold in 2019, after the discovery of Havieron at Paterson, the Investment provides Metal Tiger with the opportunity to potentially benefit from further new gold discoveries in the highly prospective Paterson region of Western Australia," said Chief Executive Officer Michael McNeilly.
Shares in Metal Tiger were up 5.1% at 26.00 pence on Friday in London.
By Dayo Laniyan; [email protected]
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