Artemis Resources Ltd (ASX:ARV) has yielded a further A$2.3 million in cash from its ongoing program of non-core asset disposals, with total cash generated since March of around A$9 million.
The latest sales in the program comprise A$1.75 million already settled and A$550,000 that moved to financial close on November 6.
The program adds significant additional financial resources to further invest in ongoing exploration across the Pilbara region gold-copper portfolio, focusing on Carlow Castle and Paterson Central.
Carlow Castle’s diamond drilling campaign has been substantially extended based on encouraging drill core observations, with first drill results expected shortly.
Strengthening financial capacity
Executive director Alastair Clayton said: “I am pleased to advise shareholders that asset disposals to yield approximately A$2.3 million are either in treasury or in the process of closing over the coming days.
“This non-dilutive funding will only further strengthen our financial capacity as we continue with our aggressive exploration activities across our Pilbara gold-copper portfolio.
“With the first drill results due very soon from Carlow Castle drilling, we expect a very busy reporting period from both of our active projects leading into the Christmas period and beyond.”
Negotiations regarding further non-core asset disposals are continuing and expected to result in more cash inflows before year-end.