Perth-based exploration and development company Artemis Resources (ASX:ARV) has sold its holding in AIM-listed Allen Metals (AIM:UFO), generating approximately AUD$2 million in gross cash proceeds.
Chairman Mark Potter said the proceeds will be directed towards funding exploration activities at the Company’s Paterson and Carlow Au-Cu Projects, and general working capital.
Artemis reported its cash in bank as of 28 November, including the above sale proceeds from recent investment disposals, stands at approximately AUD$2.3m.
