Anax Metals and Artemis Resources sign MoU for joint assessment

Anax Metals Limited (ASX:ANX) and Artemis Resources Ltd (ASX:ARV) have signed a non-binding Memorandum of Understanding (MoU) to jointly assess the potential for processing copper content of Artemis' open-pittable Greater Carlow resource at the fully-permitted Whim Creek Processing hub. Additionally, the parties will evaluate the potential for Artemis to explore gold mineralisation on the Anax Project tenure.

Executive commentary on the collaboration

Anax's Managing Director, Geoff Laing, expressed enthusiasm about the collaboration, highlighting the potential for copper/gold production and expanded gold exploration. Artemis Executive Director, George Ventouras, echoed the sentiment, emphasizing the exciting opportunities in the West Pilbara region and the focus on delivering results for stakeholders.

Collaboration benefits and future outlook

The collaboration between Anax Metals and Artemis Resources marks a significant step towards assessing copper processing at the Whim Creek hub and exploring gold mineralisation. The joint assessment aims to lead to a legally binding agreement for processing Artemis' copper assets at Whim Creek, potentially making it a substantial Australian copper producer. The amalgamated project could result in operational efficiencies, better mining contract rates, more favorable funding terms, and a reduction in project costs and environmental footprint. Both companies are set to commence relevant assessments and provide market updates over the coming months, indicating a positive outlook for the collaboration and the potential for significant developments in the Pilbara region.