InvestSMART

Red Metal Limited (ASX:RDM)

ALERT: Price-sensitive ASX Announcement for RDM
Current share price for RDM : $0.160 0.035 (28%)+
Announcement
Release
22 Dec 2025 9:50AM
Price at Release
$0.125
Full Release
download
Summary
Artemis Resources Limited has announced an earn-in and joint venture agreement with Red Metal Limited to explore the Sharon Dam IOCG target in Western Australia's Madura Copper Exploration Belt. The agreement allows Artemis to earn a 60% interest in the project by investing $5 million over three years, with an initial $400,000 commitment for drilling. The Sharon Dam is an undrilled IOCG target, characterized by strong magnetic and gravity anomalies, and is strategically located in an emerging copper exploration district. This JV expands Artemis' holdings and positions them as key players in the underexplored region. The project is set to begin drilling in March-April 2026, subject to heritage clearance.
Key Points
  • Artemis can earn 60% of Red Metal's Sharon Dam IOCG target by spending $5 million in 3 years.
  • Initial commitment of $400,000 for drilling with government EIS co-funding support.
  • Sharon Dam is a large, previously undrilled IOCG target with strong magnetic-gravity anomalies.
  • JV strengthens Artemis' copper-gold position along the Madura Crustal Boundary.
  • Drilling expected to start in March-April 2026, pending heritage clearance.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.