# ARV: Annual Report to Shareholders Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/arv-annual-report-to-shareholders--53e30f00-a94e-462d-a5d9-dcf63081ce57 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03143036 Publisher: asx Original announcement: 2026-09-23T22:15:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-23T23:21:22.076Z Atlas analysis updated: 2026-09-23T23:21:22.076Z - Company: Artemis Resources Limited - Ticker: ARV - Exchange: ASX - Region: Western Australia - Primary commodity: Gold - Secondary commodities: Copper, Cobalt, Nickel, Palladium - Document categories: Drill results, Capital raise, Resource update - Extracted: 2026-09-23 23:21:22 UTC Narrative sentiment: 0.20 · Bullish ## Minestarters Atlas summary Artemis Resources Limited reported new high-grade gold drill results from its Titan East prospect in the West Pilbara, including 5m at 13.1 g/t Au. The company also completed significant capital raises totaling over $12.8 million to fund its exploration programs in the West Pilbara and Madura provinces. An update on the historical Carlow Gold-Copper-Cobalt Inferred Mineral Resource, effective October 2022, was provided, with no material changes noted. Reasoning: Artemis Resources reported new high-grade gold drill intercepts at Titan East, including 5m at 13.1 g/t Au, and successfully completed significant capital raises to fund exploration. The company also provided an update on its historical Carlow Gold-Copper-Cobalt Inferred Mineral Resource, which remains unchanged since 2022. The capital raises, while dilutive, were oversubscribed and completed at a premium to the year-end share price, strengthening the company's financial position for future exploration. - Positive factor: high\_grade\_intercept - Positive factor: capital\_raise\_oversubscribed - Positive factor: capital\_raise\_at\_premium - Positive factor: qaqc\_disclosed - Negative factor: apparent\_width\_only - Negative factor: historical\_estimate\_only - Negative factor: significant\_dilution Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 10 ## Classification and evidence **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The drill intercept of 5m @ 13.1 g/t Au is well above the exceptional threshold for gold \(5 g/t Au\). Evidence · text > 5 m @ 13.1 g/t Au from 132 m in 25ARRC006. **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The report states that 'The information in this report that relates to Exploration Results was prepared by Mr Oliver Hirst M.Sci \(Hons\), a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy \(MAusIMM\).' and 'Mr Hirst consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.' Evidence · text > The information in this report that relates to Exploration Results was prepared by Mr Oliver Hirst M.Sci \(Hons\), a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy \(MAusIMM\). **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: The drill intercepts are given as downhole lengths \(e.g., '5 m @ 13.1 g/t Au'\) without any mention of true width or drill orientation. Evidence · text > 5 m @ 13.1 g/t Au from 132 m in 25ARRC006. **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The Carlow resource is explicitly stated as an 'Inferred Mineral Resource'. Evidence · text > The Carlow Gold – Copper – Cobalt Resource comprises of an Inferred Mineral Resource of 8.74 Mt at 2.5 g/t AuEq **All Inferred** Polarity: negative Definition: 100% of resource is Inferred category — very early stage, no engineering confidence. Why it applies: The Carlow Gold – Copper – Cobalt Resource is entirely classified as 'Inferred Mineral Resource'. Evidence · text > The Carlow Gold – Copper – Cobalt Resource comprises of an Inferred Mineral Resource of 8.74 Mt at 2.5 g/t AuEq **Historical Estimate Only** Polarity: negative Definition: Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling. Why it applies: The Carlow resource was announced on '13 October 2022' and the company states 'The Company confirms that the material assumptions and technical parameters underpinning the Resource estimate, which were announced to the ASX on 13 October 2022, have not materially changed.' Evidence · text > The Mineral Resource was announced on and remains open along strike and down plunge. The company has undertaken a review of the geology the broader Carlow-Titan geological model remained under review to inform future targeting across the Karratha Gold-Copper Project. **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The company explicitly states that it 'reports its Mineral Resources in accordance with the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code, 2012 Edition\)'. Evidence · text > The Company reports its Mineral Resources in accordance with the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(the JORC Code, 2012 Edition\). **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The report states that 'The Competent Persons named by the Company qualify as Competent Persons as defined in the JORC Code.' Evidence · text > The Competent Persons named by the Company qualify as Competent Persons as defined in the JORC Code. **Significant Dilution** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company issued approximately 728 million shares in June 2026 and a further 1.27 billion shares post-period, significantly increasing the total number of ordinary shares outstanding. Evidence · text > The placement comprised approximately 728 million shares issued under the Company’s existing placement capacity, with the balance subject to shareholder approval. ## Extracted facts Stored fact records: 10. Some facts used in scoring do not have a stored record. ## Drill Results (7) ### 25ARRC006 [Link to this fact](https://atlas-staging.minestarters.com/news/arv-annual-report-to-shareholders--53e30f00-a94e-462d-a5d9-dcf63081ce57#fact-drill-facts-0) Karratha · gold #### Identity - Hole ID: 25ARRC006 - Project: Karratha - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: ARV #### Geometry - Grade: 13.1 - Grade Unit: g/t - Intercept: 5 m - From: 132 m - To: 137 m - Intercept Depth: 132 m #### Classification - Program: exploration - Sample Type: drill - Group ID: 25ARRC006:132-137 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: This intercept of 5m at 13.1 g/t Au is an exceptionally high-grade gold result, significantly above the bonanza threshold for gold, indicating strong mineralization at Titan East. - Positive factor: high\_grade\_intercept - Positive factor: qaqc\_disclosed - Negative factor: apparent\_width\_only Evidence · text > 5 m @ 13.1 g/t Au from 132 m in 25ARRC006. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### 25ARRC025 [Link to this fact](https://atlas-staging.minestarters.com/news/arv-annual-report-to-shareholders--53e30f00-a94e-462d-a5d9-dcf63081ce57#fact-drill-facts-1) Karratha · gold #### Identity - Hole ID: 25ARRC025 - Project: Karratha - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: ARV #### Geometry - Grade: 1.6 - Grade Unit: g/t - Intercept: 19 m - From: 127 m - To: 146 m - Intercept Depth: 127 m #### Classification - Program: exploration - Sample Type: drill - Group ID: 25ARRC025:127-146 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: This intercept of 19m at 1.6 g/t Au represents a good width and moderate grade, contributing to the understanding of the mineralized shear zone at Titan East. - Positive factor: strong\_continuity - Positive factor: qaqc\_disclosed - Negative factor: apparent\_width\_only Evidence · text > 19 m @ 1.6 g/t Au from 127 m in 25ARRC025. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### 25ARDD006 [Link to this fact](https://atlas-staging.minestarters.com/news/arv-annual-report-to-shareholders--53e30f00-a94e-462d-a5d9-dcf63081ce57#fact-drill-facts-2) Karratha · gold #### Identity - Hole ID: 25ARDD006 - Project: Karratha - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: ARV #### Geometry - Grade: 2.3 - Grade Unit: g/t - Intercept: 4.7 m - From: 175.27 m - To: 179.97 m - Intercept Depth: 175.27 m #### Classification - Program: exploration - Sample Type: drill - Group ID: 25ARDD006:175.27-179.97 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: This intercept of 4.7m at 2.3 g/t Au confirms down-dip continuity of the mineralized structure, which is a positive for resource potential. - Positive factor: qaqc\_disclosed - Negative factor: apparent\_width\_only Evidence · text > 4.7 m @ 2.3 g/t Au from 175.27 m in 25ARDD006 #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### 25ARDD006 [Link to this fact](https://atlas-staging.minestarters.com/news/arv-annual-report-to-shareholders--53e30f00-a94e-462d-a5d9-dcf63081ce57#fact-drill-facts-3) Karratha · gold #### Identity - Hole ID: 25ARDD006 - Project: Karratha - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: ARV #### Geometry - Grade: 6.38 - Grade Unit: g/t - Intercept: 1.3 m #### Classification - Program: exploration - Sample Type: drill #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: The sub-interval of 1.3m at 6.38 g/t Au is a high-grade component within the broader intercept, further supporting the quality of mineralization. - Positive factor: high\_grade\_intercept - Positive factor: qaqc\_disclosed - Negative factor: apparent\_width\_only Evidence · text > including 1.3 m @ 6.38 g/t Au. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### 26ARDD001 [Link to this fact](https://atlas-staging.minestarters.com/news/arv-annual-report-to-shareholders--53e30f00-a94e-462d-a5d9-dcf63081ce57#fact-drill-facts-4) Karratha · gold #### Identity - Hole ID: 26ARDD001 - Project: Karratha - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: ARV #### Geometry - Grade: 1.3 - Grade Unit: g/t - Intercept: 5 m - From: 256 m - To: 261 m - Intercept Depth: 256 m #### Classification - Program: exploration - Sample Type: drill - Group ID: 26ARDD001:256-261 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: This intercept of 5m at 1.3 g/t Au from diamond drilling further extends the emerging gold zone at Titan East, indicating continued mineralization at depth. - Positive factor: qaqc\_disclosed - Negative factor: apparent\_width\_only Evidence · text > 5 m @ 1.3 g/t Au from 256 m in 26ARDD001. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 6 [Link to this fact](https://atlas-staging.minestarters.com/news/arv-annual-report-to-shareholders--53e30f00-a94e-462d-a5d9-dcf63081ce57#fact-drill-facts-8) Needs review: drill\_no\_hole\_id #### Identity - Region: australia - Reported Region: australia - Ticker: ARV #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: This placement provided significant funding to the company, strengthening its financial position for exploration activities. Evidence · text > During the September 2025 quarter, Artemis completed a placement raising $4,875,000 before costs from institutional and sophisticated investors. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 7 [Link to this fact](https://atlas-staging.minestarters.com/news/arv-annual-report-to-shareholders--53e30f00-a94e-462d-a5d9-dcf63081ce57#fact-drill-facts-9) Needs review: drill\_no\_hole\_id #### Identity - Region: australia - Reported Region: australia - Ticker: ARV #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: The heavily oversubscribed $8 million placement, completed at a premium to the year-end share price, significantly strengthened the company's financial capacity for exploration, despite the substantial share dilution. - Positive factor: capital\_raise\_oversubscribed - Positive factor: capital\_raise\_at\_premium - Negative factor: significant\_dilution Evidence · text > In June 2026, Artemis announced a heavily oversubscribed $8 million placement at $0.004 per share to fund exploration at Cassowary and the Pilbara gold projects. The placement comprised approximately 728 million shares issued under the Company’s existing placement capacity, with the balance subject to shareholder approval. #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## Resource Estimates (3) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/arv-annual-report-to-shareholders--53e30f00-a94e-462d-a5d9-dcf63081ce57#fact-resource-facts-5) Carlow · gold Historical result Needs review: historical\_restatement #### Identity - Project: Carlow - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ARV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:00095ebcdb7f2149938b - Deposit or zone: Carlow Gold-Copper-Cobalt Resource #### Resource Data - Category: inferred - Tonnes: 8740000 - Grade: 2.5 - Grade Unit: g/t - Contained Metal: 374 - Contained Unit: koz #### Prior Estimate - Resource Date: 2022-10-13 #### Metal Equivalent - Metal Eq. Grade: 2.5 - Metal Eq. Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-10-13T00:00:00.000Z #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: The Carlow resource is an Inferred Mineral Resource, which is the lowest confidence category, and is historical, having been announced in October 2022 with no material changes since. While JORC compliant and QP signed, its age and category limit its current materiality and novelty. - Positive factor: qp\_signed - Positive factor: jorc\_compliant - Negative factor: inferred\_resource - Negative factor: all\_inferred - Negative factor: stale\_estimate - Negative factor: historical\_estimate\_only Evidence · text > The Carlow Gold – Copper – Cobalt Resource comprises of an Inferred Mineral Resource of 8.74 Mt at 2.5 g/t AuEq, \(containing 374 koz gold, 64 kt copper and 8 kt cobalt ASX 13 October 2022\). #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/arv-annual-report-to-shareholders--53e30f00-a94e-462d-a5d9-dcf63081ce57#fact-resource-facts-6) Carlow · copper Historical result Needs review: historical\_restatement #### Identity - Project: Carlow - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ARV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:00095ebcdb7f2149938b - Deposit or zone: Carlow Gold-Copper-Cobalt Resource #### Resource Data - Category: inferred - Tonnes: 8740000 - Contained Metal: 64 - Contained Unit: kt #### Prior Estimate - Resource Date: 2022-10-13 #### Metal Equivalent - Metal Eq. Grade: 2.5 - Metal Eq. Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-10-13T00:00:00.000Z #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: The Carlow resource is an Inferred Mineral Resource, which is the lowest confidence category, and is historical, having been announced in October 2022 with no material changes since. While JORC compliant and QP signed, its age and category limit its current materiality and novelty. - Positive factor: qp\_signed - Positive factor: jorc\_compliant - Negative factor: inferred\_resource - Negative factor: all\_inferred - Negative factor: stale\_estimate - Negative factor: historical\_estimate\_only Evidence · text > The Carlow Gold – Copper – Cobalt Resource comprises of an Inferred Mineral Resource of 8.74 Mt at 2.5 g/t AuEq, \(containing 374 koz gold, 64 kt copper and 8 kt cobalt ASX 13 October 2022\). #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/arv-annual-report-to-shareholders--53e30f00-a94e-462d-a5d9-dcf63081ce57#fact-resource-facts-7) Carlow · cobalt Historical result Needs review: historical\_restatement #### Identity - Project: Carlow - Commodity: cobalt - Region: australia\_wa - Reported Region: Western Australia - Ticker: ARV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:00095ebcdb7f2149938b - Deposit or zone: Carlow Gold-Copper-Cobalt Resource #### Resource Data - Category: inferred - Tonnes: 8740000 - Contained Metal: 8 - Contained Unit: kt #### Prior Estimate - Resource Date: 2022-10-13 #### Metal Equivalent - Metal Eq. Grade: 2.5 - Metal Eq. Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-10-13T00:00:00.000Z #### Dates - Event date: 2026-09-23T00:00:00.000Z Reasoning: The Carlow resource is an Inferred Mineral Resource, which is the lowest confidence category, and is historical, having been announced in October 2022 with no material changes since. While JORC compliant and QP signed, its age and category limit its current materiality and novelty. - Positive factor: qp\_signed - Positive factor: jorc\_compliant - Negative factor: inferred\_resource - Negative factor: all\_inferred - Negative factor: stale\_estimate - Negative factor: historical\_estimate\_only Evidence · text > The Carlow Gold – Copper – Cobalt Resource comprises of an Inferred Mineral Resource of 8.74 Mt at 2.5 g/t AuEq, \(containing 374 koz gold, 64 kt copper and 8 kt cobalt ASX 13 October 2022\). #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.9 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.