Artemis Gold Inc.
Artemis Gold is a Canadian gold-silver producer operating the Blackwater open-pit mine in central British Columbia, which reached commercial production in May 2025. The company is now executing a major Phase 2 expansion intended to more than double throughput by 2028.
Notable vs. Peers
- All-in sustaining cost of $869/oz is 52% lower than the peer producer average of $1,817/oz.
- Financials score of 4.9/10 is weaker than the peer average of 6.5/10.
Lifecycle Milestones
Construction Milestones
5 of 5 reachedMilestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Jurisdiction (40%)9/10
British Columbia: Fraser PPI 2025 is 74.28 of 100 (rank 31 of 68), which maps to 9 on this site's scale. British Columbia, Canada — top-tier mining jurisdiction with established permitting regime and strong rule of law; Indigenous consultation adds process complexity but not fundamental risk.
Infrastructure (40%)10/10
A confirmed mill, confirmed road access, confirmed grid power, and a confirmed tailings facility at Blackwater Gold Mine, British Columbia, Canada.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Gibraltar (Trekor Metals Limited), 187 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not yet researched
Holder register not researched yet
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:0.4/10
Nearest producing mine: Gibraltar (Trekor Metals Limited), 187 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Canada: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Veteran mining executive with over three decades of leadership experience; founded Artemis Gold and previously served as President of Teck Cominco Limited.
Mining engineer with 30+ years of international experience; joined Artemis as CEO in June 2025 after having served as a non-executive director since 2023.
Appointed COO of Artemis Gold effective January 2021 and added the title of President in January 2023, leading the Blackwater mine project through construction to first gold pour in Q1 2025. Previously COO of Centamin plc, and before that COO & Executive VP of Construction and Technical Services at Endeavour Mining, where he led development of the Agbaou and Ity mines in Côte d'Ivoire and the Houndé and Nzema projects in Burkina Faso/Ghana. Began his career as a Royal Australian Navy engineer and holds an Honours degree in Mechanical Engineering (FAusIMM).
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Not scored. Smart-money tracking covers companies below about US$5B in market cap, where a single specialist fund or strategic investor taking a stake is a meaningful signal. This company was above that size when it was assessed.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Artemis Gold operates the Blackwater gold mine in British Columbia, in commercial production since May 2025. Blackwater's resource estimate (effective May 2020, reported inclusive of reserves at a 0.20 g/t AuEq cut-off) remains current, and Artemis is updating the resource model and mine plan in 2026. On 20 Sep 2026 Artemis agreed to acquire Vista Gold and its Mt Todd project, with completion expected in January 2027.