Artemis Resources Ltd (ASX:ARV) (FRA:ATY) (OTCMKTS:ARTTF) has been granted a trading halt on the swap of its shares on the Australian Securities Exchange with news pending of a resource increase at Carlow Castle project.
The Western Australian explorer, whose shareholders include its chairman, Dubai royal family member His Highness Sheikh Maktoum Hasher al Maktoum, halted this morning about 9.30am.
Artemis' company secretary explained the company’s request for a halt in its securities in a request to market regulator, ASX Ltd (ASX:ASX), saying it was “finalising an announcement in relation to the Carlow Castle mineral resource increase.
The Carlow Castle Gold-Copper-Cobalt Project in the West Pilbara district of Western Australia is one of the company’s lead assets.
Another asset for the company is the 605-square kilometre Armada prospect in the East Pilbara district near Greatland Gold PLC's (LON:GGP) famed Havieron project, Newcrest Mining Limited’s (ASX:NCM) (FRA:NMA) (OTCMKTS:NCMGF) 27 million ounce Telfer gold mine and Rio Tinto Limited’s (ASX:RIO) (LON:RIO) (NYSE:RIO) (OTCMKTS:RTNTF) Winu copper discovery.
Artemis has a JV with Novo Resources Corp (CVE:NVO) and plans to use its Radio Hill plant operations near Karratha for processing material from Carlow Castle and Armada.
The halt will remain in place until Thursday, November 21, 2019, or when an announcement is released.