Artemis Resources (ARV) Q4 2024 TU earnings summary

Executive summary

• High-grade lithium rock chip assays up to 4.67% Li₂O at Mt Marie and 0.69% Li₂O at Osborne East, confirming significant lithium mineralisation potential in the Karratha Lithium Project (100% owned).

• Soil sampling at Osborne JV (49% owned) extended the lithium anomaly, with a strike of ~4km and peak soil assay of 712ppm Li₂O, indicating further discovery potential.

• Gold exploration identified multiple new targets, with notable rock chip assays including 6.93 g/t Au and 10.85% Cu at Nickol River Hill South, and 21 gold nuggets (9.7g) found at Sing-Six prospect.

• Oversubscribed capital raise of A$2.87 million completed, with A$0.5 million cash at quarter end and an additional A$1.6 million received post quarter.

• Appointment of Elizabeth Henson as non-executive director, bringing extensive global corporate governance experience.

Segment performance

• Karratha Lithium Project: Further ground reconnaissance and rock chip sampling confirmed high-grade lithium at Mt Marie and extended mineralisation at Osborne East.

• Osborne JV: In-fill soil sampling defined a large lithium anomaly, with multiple zones of pegmatite and assays >300ppm Li₂O.

• Gold Precinct: Multiple gold targets identified, with high-grade gold and copper assays and gold nuggets discovered at Sing-Six.

Significant events and developments

• Capital raise of A$2.87 million at $0.01275 per share, with one free attaching option for every two shares, exercise price $0.025, expiry March 2026.

• Exploration spend of $950,000 during the quarter, focused on lithium fieldwork and assays.

• Heritage survey underway at Lulu Creek gold prospect.