Artemis Resources (ASX: ARV) is heading to market to raise additional capital, with the ASX granting the company a trading halt today - with its shares placed in pre-open.
Last month Artemis successfully applied for co-funding of the drilling program proposed for the Eastern Hills antimony-lead deposit, located in the Ashburton region of Western Australia - provided by the Western Australian Department of Mines and Petroleum.
Artemis will receive up to $140,000. Eastern Hills has an exploration target of 410,000t-1.25Mt at 1.5-1.9% Sb and 2.1-2.7% Pb.
Artemis is looking to tap into the increasing antimony demand from China, with prices having surged almost 400% over the past 10 years.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 24th July 2013.
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