Artemis Resources (ARV) Q2 2025 TU earnings summary

Executive summary

• Completed detailed geological mapping, new geophysical and structural interpretation, and additional rock chip sampling at Carlow Tenement, identifying high-priority drilling targets for early 2025.

• High-grade gold and silver surface samples reported at Titan and Thorpe prospects, with assays up to 553,754 g/t Au and 1,305 g/t Ag.

• Raised A$4 million in capital, with A$2.09 million received in December and the remainder pending shareholder approval.

• Appointment of Julian Hanna as Managing Director post-period, following his role as Senior Technical Advisor.

Financial highlights

• Net cash from operating activities for the quarter was $62,000; year-to-date net cash used was $(476,000).

• Net cash used in investing activities was $(674,000) for the quarter and $(1,146,000) year-to-date, mainly for exploration and evaluation.

• Net cash from financing activities was $1.92 million for the quarter, reflecting proceeds from equity issues.

• Cash and cash equivalents at quarter-end were $2.44 million, with an additional $0.5 million in liquid investments.

• Estimated quarters of funding available at current burn rate is 3.99.

Outlook and guidance

• Drilling to commence in early February 2025, initially targeting three high-priority zones around the Carlow resource.

• Funds from the capital raise will support drilling and further exploration at the Karratha Gold Project.