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Artemis Resources Ltd on Friday said its pretax loss widened in the first half of its current financial year, as the company was hit with a A$4.0 million impairment charge. The gold, copper and lithium focused mining company with projects in Western Australia said its pretax loss in the six months that ended December 31 widened to A$5.7 million, or $3.6 million, from A$1.8 million in 2023. This was despite income for the six-month period, including finance income, rising to A$257,100 from A$37,940, as Artemis Resources was hit by a A$4.0 million impairment on its project and exploration expenditure, against a A$20,353 impairment the year before. Personnel costs were slashed 91% to A$26,999 from A$316,112, while directors’ fees were reduced by 12% to A$207,192 from A$235,497. ‘While the Karratha gold project is expected to continue as Artemis’s core asset, the company strategy includes identifying other exploration targets considered to have potential for discovery of major mineral deposits,’ said Artemis Resources. ‘Priorities are for targets which can be acquired and tested at relatively low cost and show potential for [iron oxide copper-gold] type copper/gold or intrusive hosted nickel/copper/[platinum group elements] deposits.’ Shares in Artemis Resources were down 6.9% at 0.40 pence in London on Friday around midday. The stock has fallen 59% over the past year. Shares listed in Sydney were down 13% on Friday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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