Pilbara explorer Artemis signs up Euro ally as it looks to global battery market
Pilbara explorer Artemis Resources is trying to make the most out of its German listing, enlisting the help of small cap expert Stefan Müller and his Frankfurt-based consultancy DGWA.
The company (ASX:ARV) told investors the appointment of DGWA – a well credentialled Frankfurt and Berlin-based investment banking firm – will help Artemis expand the profile of its base, battery and precious metals projects.
Artemis trades on the Frankfurt Stock Exchange under the code “ATY”.
The pool of European money targeting junior Australian miners is on the rise thanks to the booming electric vehicle market, Mr Müller told Stockhead previously.
“As the first company to consolidate a West Pilbara package of base, battery and precious metal assets with a processing plant, Artemis should be of great interest to German and European investors,” chief Wayne Bramwell told investors this morning.
Germany is one of the world’s largest producers of quality cars and a leader in the electric vehicle space.
Europe already has 1 million electric vehicles on its roads – beating the US, according to a recent report by The Guardian.
Europe sold 195,000 plug-in cars in the first half of this year, 42 per cent higher than for the same period of 2017, a report by Swedish industry consulting group EV-Volumes found.
And, in terms of volumes, the German market is the strongest growth contributor.
“Even if growth rates do not reach 100 per cent as last year, this year’s 52 per cent, combined with the sheer size of the German market, push volumes forward,” EV-Volumes said.
Artemis’ Carlow Castle cobalt, copper and gold project is one that is likely to capture European attention, according to Mr Müller.
“Base, battery and precious metals are well understood here, and Carlow Castle will be of particular interest to European retail, institutional and strategic investors as many are seeking greater exposure to battery metal opportunities outside of Africa,” he said.
Artemis’ Carlow Castle project is integral to how big the company’s ultimate production capacity in the Pilbara will be, Mr Bramwell told Stockhead last week.
Artemis has received approval to initially process 500,000 tonnes of gold ore at its Radio Hill plant and is now seeking approvals to process the same amount of base metals.
The company expects the plant will eventually be capable of processing as much as 1 million tonnes of ore.
“The expansion is really predicated on how much tonnage is in front of it and I think Carlow Castle is very much a key driver to that,” Mr Bramwell said.
“So as we get better visibility on the scale of Carlow Castle it will sort of start to tell us what we need to do in terms of scale for Radio Hill.”