Perth-based and ASX-listed miner Artemis Resources (Artemis) has announced its intention to gain admission to the AIM market of the London Stock Exchange.
Admission is expected to take place around 7 February 2022, with its listing already approved under the ticker ARV.
The company intends to raise up to £5m through the placing, with WH Ireland is acting as sole bookrunner and nominated adviser.
Artemis currently has a market cap of AUS $87.8m.
The gold and copper mining exploration company is hoping to raise funds for its 100 per cent owned projects in Western Australia, including the Paterson Central project.
The site is located in the Paterson province of Australia, which is home ti multiple successful mining projects including Rio Tinto’s Winu Copper discovery and the 27 Moz Telfer gold mine.
It also has spotted the potential for a large, high-grade gold-copper-cobalt deposit at Carlow Castle with an identified processing route at Radio Hill.
The project is a highly prospective 1,059km squared tenement package located near Karratha, with good access to infrastructure.
It is only 35km from Artemis’ 100 per cent owned Radio Hill Processing Plant.
The company is targeting the equivalent of of one million ounces equivalent by end of 2022.
Alastair Clayton, executive director of Artemis, said: “With this AIM listing, the Company is providing an efficient and convenient platform upon which UK-based investors can now own Artemis stock and access its exciting exploration and development projects in Western Australia.”
Currently, the company’s ordinary shares are listed on ASX and are traded on the Frankfurt Stock Exchange and the OCT Markets Group.
A further announcement confirming the terms of the placing is expected to be made imminently.