Artemisaktionäre der ersten Stunde freuen sich aktuell über exakt 500% Kursplus, Teilnehmer am Börsengang dank des Warrants bei $1,08 sogar über 1.000% und selbst Investoren des $2,75 Financings sitzen auf Gewinnen von 118%. Warum das noch lange nicht das Ende ist, zeigen wir in diesem Update zu Artemis Gold. Unseren ersten Artikel zu dieser Aktie vom 13.09.2020 finden Sie hier.
Page 3 of the current presentation (link) shows the comparison of Artemis Gold with Atlantic Gold (2015–2019), also managed by Steven Dean. At that time, Atlantic Gold shareholders were rewarded with 1,129% performance over 4.5 years. If we draw the comparison with Artemis Gold, we can see from the chart below that we are at the very beginning of the development phase of the Blackwater project. In this phase, a lot of risk is being taken out of the project (de-risking) through “Pre-Construction Grade-Control Drilling”, another exploration program as well as “Permitting”. The market is gradually rewarding this with a higher valuation and rising prices of Artemis Gold.
Current valuation
Mining companies are often valued with their P/NAV = share price in relation to net asset value. Artemis is still trading at a significant discount to comparable companies (0.37 to 0.61 on average and 0.95 to Pure Gold). This shows the catch-up potential even within a group of comparable mining companies that are currently developing a resource deposit towards production.
News Flow 2021
With metallurgical test work already underway (link), additional drilling of 35,000m (link) and events planned in the 2021 timeline below, you can see that management is on the move. As with Atlantic Gold, Steven Dean + Team is known for achieving targets on time and even exceeding market expectations. We have no reason to believe this will be any different with Artemis. You can expect a lot of news in 2021 that will attract more investors, especially institutional investors to the stock. This means more trading volume and, above all, higher share prices.
Conclusion: The team around Steven Dean will not tire of pushing the project forward and providing positive news to the market until the start of construction in Q2 2022. We see a 100% upside potential and a share price of $12 until the start of construction. Above that, we estimate prices of $20 as realistic with the achievement of full commercial production and rising gold prices. More on this in the first update on Artemis Gold in 2021.