Why Artemis Resources Share Price Is Up 14% Today

At time of writing, Artemis Resource Ltd [ASX:ARV] is one of the big winners for the day, up 14.3%, trading at 16 cents per share.

Artemis Resources is a mineral resource exploration company, with a focus on gold base and battery metals located in the Pilbara region of Western Australia.

Why the big jump in Artemis’ share price?

Pinning down one particular reason for the rise in Artemis Resources’ share price is not an easy task.

However, there is relevant news to unpack and it’s also why we’re here.

Firstly, Artemis Resources has recently announced a strategic processing alliance with Canadian explorer Pacton Gold Incorporated [TSX:PAC].

The agreement is based on a memorandum of understanding (MOU) that would allow Pacton to access Artemis’ processing operations.

In simple terms, this means that if Pacton strikes it rich, Artemis Resources may be entitled to a cut of the future proceeds of Pacton’s business in the Pilbara.

If you’re interested in which ASX-listed mining stocks are worth keeping an eye on, check out our analyst Jason Stevenson’s free report here.

Tonnage update from Artemis Resources

Secondly, Artemis Resources’ share price may also have benefited from an updated tonnage of copper and zinc found at their Whundo Copper Mine.

The new tonnage now stands at 2.6 Mt @ 1.14% Cu and 1.14% Zn.

Adding further buoyancy to this announcement is the fact that zinc has been steadily rising in price for the last month as seen below:

zinc price chart

Source: infomine.com

Could be one to watch.

Regards,

Ryan Clarkson-Ledward,
For 
Money Morning

PS: We have a great free report for you on 10 ASX-listed mining stocks that could be poised to take advantage of the rising commodity prices. It’s available here.


Ryan Clarkson-Ledward is an Editor at Money Morning.

Ryan holds degrees in both communication and international business. He helps bring Money Morning readers the latest market updates, both locally and abroad. Ryan tackles all the issues investors need to know about that the mainstream media neglects.

Ryan is also the Editor of Australian Small-Cap Investigator, a stock tipping newsletter that hunts down promising small-cap stocks by dissecting the latest events affecting the world.

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