Emerging cobalt story Artemis soars 140% as miners put on big gains
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
The S&P/ASX 200 Materials index (XMJ) surged 2.4% on Monday, led by strong support for the likes of Rio Tinto (+3.6%), BHP Billiton (+2.5%) and Fortescue Metals Group (+6%), as well as mid-tier players such as Independence Group (+4%) and Mineral Resources (+5%).
However, it was market minnow and emerging cobalt story, Artemis Resources (ASX:ARV) that received the gong for the best performance by share price and volume for the day as its shares hit a high of 12.5 cents in mid-morning trading, representing a gain of 140% compared with its previous closing price.
All-time record volumes of more than 20 million shares were traded, and there were still big lines going through into the afternoon as more than 1 million shares were traded at a price of 12 cents per share at 1:30 PM.
However, it should be noted that historical data in terms of earnings performance and/or share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.
Sparking interest in the stock has been outstanding copper and gold grades from the group’s Carlow Castle project located near Karratha in Western Australia, particularly notable given copper was the best performing base metal as the London Metals Exchange closed on Friday with a gain of more than 4%.
Support for copper could continue as the giant Escondida project stands to be affected by strikes with workers bunkering in for the long term.
However, what appears to have provided the most significant momentum for Artemis is the fact that management has now been able to identify the existence of high grade cobalt within the deposit, a factor that appeared fairly assured on the basis of historical records of extremely high-grade cobalt, but having now been confirmed represents a material development for the group.
With management planning to establish an upgraded resource at Carlow Castle in the near term, Artemis remains a stock to watch.
Adding further fuel to the fire is the fact that the cobalt price has now pushed up towards US$40,000 per tonne, and analysts at Macquarie only last week said, “If last year was lithium’s time, for 2017 its battery peer, cobalt may be the one receiving more attention”.
Of course, broker projections and price targets are only estimates and may not be met.
General Information Only
This material has been prepared by StocksDigital. StocksDigital is an authorised representative (CAR 000433913) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573).
This material is general advice only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with personal financial or tax advice and does not take into account your personal objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, StocksDigital, any of their related body corporates or any other person. To the maximum extent possible, 62C, StocksDigital, their related body corporates or any other person do not accept any liability for any statement in this material.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
