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.
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:
Could be one to watch.
For Money Morning
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