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by Stockwatch Business Reporter

New York spot gold moved higher Monday, adding $34.95 to $3,249.70. The TSX Venture Exchange lost 0.36 point to 656.04 while the TSX gold index gained 15.03 points to 469.09. Steven Dean's Artemis Gold Inc. (ARTG) followed gold higher, adding 43 cents to close at $21.62 on 499,700 shares today -- an anticlimactic response to Friday's gain of $2.29 to $21.19 on 1.03 million shares, which followed word that its Blackwater mine has reached commercial production.

Milling began earlier this year, and Artemis has produced about 30,000 ounces of gold so far. Over the last eight months of 2025 the company expects to produce between 160,000 and 200,000 ounces despite the operation continuing to ramp up to full production. Better yet, all-in sustaining costs are anticipated to be $770 (U.S.) per ounce or less.

Mr. Dean, chairman and chief executive officer, was brimming with glee as he offered his "sincere gratitude and congratulations" to his crew and his contractors for their hard work and dedication in getting Blackwater into production. The company built the mine in less than two years -- "an industry-leading 22 months," Mr. Dean crowed -- and it reached production through a brief period -- "a remarkable three months" -- of commissioning. Now, Artemis begins work on expanding its Blackwater mine, as it looks to produce over 500,000 gold equivalent ounces per year.

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