Artemis Resources (ASX:ARV) completed a AU$4 million placement, with tranche two for AU$1.99 million received, before costs, according to a Tuesday Australian bourse filing.
It issued around 284 million shares in the second tranche of the placement on Feb. 14. It issued 287 million tranche one shares to investors on Dec. 24, 2024.
It will use the funds for drilling at its Karratha gold project in Western Australia, where it has identified a number of targets.
The firm's shares rose past 5% on market close on Tuesday.
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