Why Artemis Resources Ltd shares jumped 10% higher today

One of the biggest movers on the market today has been the Artemis Resources Ltd (ASX: ARV) share price.

In early afternoon trade its shares are up 10% to 28 cents.

Why did its shares jump higher?

This morning the mineral exploration company announced that the Western Australian Government has approved a significant drilling programme at its Radio Hill mine.

According to the release, the 81 hole drilling programme has been designed to define new primary nickel, copper and cobalt (Ni/Cu/Co) mineralisation amenable to open pit mining.

The company’s 100% Radio Hill mine in Western Pilbara has a long history of Ni/Cu/Co production from when it was opened back in 1985.

In light of this, I can’t say I’m surprised to see its shares climb higher today. Especially with nickel and cobalt in demand from electric vehicle battery makers and copper prices remaining very favourable thanks to the positive outlook for the global economy.

But it is still early days and there’s a lot of work ahead before Radio Hill is commissioned and generating revenue. Investors may want to hold off an investment at least until drilling results reveal what kind of mineral resource is underground.

In the meantime, I think mining giant BHP Billiton Limited (ASX: BHP) would be a great option for investors in 2018.

What else happened today?

Fellow mineral exploration company Australian Mines Limited (ASX: AUZ) hasn’t fared as well today.

Its shares are down 8% in afternoon trade after advising that non-executive director Neil Warburton has announced his retirement from the board effective 31 December 2017, as a result of the increasing demands of his other business commitments.

If you like exciting opportunities then you won't want to miss out on this one in 2018. These don't come around that often.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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