Anglo Pacific Group PLC (“Anglo Pacific”, the “Company”) (LSE: APF, TSX: APY) is pleased to announce that it has entered into an agreement with a subsidiary of Mantos Copper (“Mantos”), to acquire a 1.525% Net Smelter Return royalty (“NSR”) over all copper produced at the Mantos Blancos copper mine (the “Mantos Blancos Mine”) in exchange for an upfront cash consideration of US$50.25 million.
Anglo Pacific Group PLC Acquisition of a producing copper royalty @AngloPacificPLC https://www.voxmarkets.co.uk/rns/announcement/f9934bbe-76f5-4a47-8175-7078e1c9aa73
#ARS #MOD #MTR #SOLG #VAST
10 July 2019
Asiamet Director Appointment
Asiamet Resources Limited ("Asiamet" or the "Company") is pleased to announce the appointment of Mr Feng (Bruce) Sheng as a Non-Executive Director to the Board effective from 10 July 2019. Mr Sheng is the Chairman ofMelbournebased Asipac Group Pty Ltd, a diversified company with investments across the resources and financial sectors, and various property businesses. Mr Sheng also currently serves as Vice Chairman of the Australia China Business Council (Victoria) and the Executive Chairman of ASX listed Terramin Australia Ltd, a company developing a portfolio of zinc and gold projects inAustraliaandAlgeria.
Tony Manini, Executive Chairman commented:
"On behalf of the Company we welcome Bruce to the Asiamet Board. Bruce has been a long-term supportive shareholder and we look forward to the opportunity to work more closely with him as we move into the project financing and development stage for the BKM project and continue advancing our other high potential projects on the KSK CoW and at Beutong. Bruce has spent the past 25 years working at the interface betweenChina-Australiabusiness and brings extensive experience and networks acrossChinaand greaterAsiato the Asiamet board. This is particularly relevant givenChina'sOne Belt-One Road policy and the large amount of Chinese inbound investment intoIndonesiaassociated with it. Enhancing the Company's level of connectivity withChinais expected to add significant value as we continue the development of our portfolio of high-quality copper, gold and polymetallic projects. Different skills and experience will be required to take the Company forward and as such further evolution and strengthening of the board and management team is considered an important requisite for continued growth. Our ability to attract new directors of the calibre of Bruce, and Dominic before him, are testament to the progress we have made and the quality of the growth opportunity that Asiamet presents for investors. We look forward to continuing to deliver on our plans for the benefit of all stakeholders."
The Company provides the following additional disclosure as at 10 July 2019 relating to the appointment of Mr Feng (Bruce) Sheng as director of Asiamet, effective 10 July 2019:
Mr Feng (Bruce) Sheng, aged 56, currently holds or has held the following directorships and partnerships over the last five years:
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Mr.Sheng,through the holdings of Asipac Group,has an8.55% interest inthesecurities of Asiamet at the date of this announcement.
Except as disclosed in this announcement, neither the Company nor Mr. Sheng are aware of any further disclosures that are required in respect of the appointment of Mr. Sheng under Rule 17 or paragraph (g) of Schedule Two of the AIM Rules for Companies.
Asiamet Res Ltd - Director Appointment #ARS @AsiaMet_Res_ARS https://www.voxmarkets.co.uk/rns/announcement/84c9ae1c-ee79-4398-ac9a-eaae78976a34 #voxmarkets
25 March 2019
Asiamet Updates Beutong Copper-Gold Resource
Asiamet Resources Limited ("Asiamet", "ARS", or the "Company") is pleased to announce an updated Mineral Resource Estimate ("MRE") for the Beutong Copper-Gold Project ("Beutong") located in Nagan Raya Regency,Aceh, Indonesia. Asiamet holds an 80% interest in Beutong through its local operating subsidiary PT Emas Mineral Murni ("EMM"). The Statement of Mineral Resources in Table 1 completed by Hackman & Associates ("Hackman") is reported in accordance with the requirements of the 2012 JORC Code.
· Beutong is a large high-quality copper, gold, silver, molybdenum deposit outcropping at surface and remaining open laterally and at depth.
· Beutong 2019 Mineral Resources (JORC 2012) at a 0.3% Cu cut-off grade (on a 100% basis) comprise:
· 34Mt @ 0.67% Cu, 0.13g/t Au, 1.68g/t Ag and 90ppm Mo in the Measured category
· 56Mt @ 0.58% Cu, 0.12g/t Au, 2.07/t Ag and 104ppm Mo in the Indicated category
· 419Mt @ 0.45% Cu, 0.13g/t Au, 1.14/t Ag and 125ppm Mo in the Inferred category
· Total Resources 509Mt @ 0.48% Cu, 0.13g/t, 1.28g/t Ag and 120ppm Mo
· Contained metal in Resource on a 100% basis comprises 2.43Mt (5.3BIb) copper, 2.11Moz gold and 20.9Moz silver (1.95Mt (4.30Blb) copper, 1.69Moz gold and 16.73Moz silver on an 80% attributable basis)
· The Beutong porphyry and skarn system(s) remains open to the east, west and at depth. The deepest drilling completed to date has intersected porphyry mineralisation to around 800 metres below surface and approximately 200-300 metres below the depth of Resource delineation drilling completed to date.
· Strong copper, gold and molybdenum grades and the presence of highly mineralised chalcopyrite-bornite-magnetite bearing breccia clasts proximal to a large magnetic body modelledat depthbelow current drilling highlight excellentpotential for the discovery of a high grade core similar to that seen in world class porphyry systems such as Wafi Golpu, PNG (Newcrest) and Cascabel,Ecuador(Solgold).
A total of 167 diamond drill holes have been drilled over the life of the project in and around the Beutong deposit. The Resource has been delineated by 113 of these drill holes totalling 33,325 metres, and which form the basis of the Beutong 2019 Resource Estimate in accordance with JORC (2012).
The Beutong project represents a rare advanced development stage copper opportunity given its location close to the coast, proximity to excellent infrastructure and production licence tenure.
The 2018 infill drilling programme has further improved our geological understanding for this deposit and this new MRE confirms the integrity, size and scale of the asset with the significant upside potential that remains to be evaluated. Further drilling campaigns will be directed to growing the deposit well beyond the current Resource envelope, testing the potential for a high grade core at depth, and exploring early stage development options for the project.
The Company also continues to build on the strong working relationships it has nurtured with local communities, stakeholders and the government.
As copper demand driven by industrialisation-urbanisation inAsiaand the rapid take up of EV and Green Energy solutions continues to increase, new supply remains constrained. In a recent report (January 2019), Wood Mackenzie, a leading independent commodity analysis forecasts the copper price to average$3.28/lb in 2019 and$3.85/lb in 2020 from a weighted average of$ 2.96/lb in 2018.
Peter Bird, Asiamet's Chief Executive Officer commented:
"Junior companies with large, well located development stage copper inventories such as Asiamet are rare and extremely well positioned to benefit from widely forecast stronger copper prices. Beutong is a large high-quality copper-gold deposit well served with existing nearby infrastructure on a granted production licence. The 2018 drilling program has improved our geological understanding of the deposit and this updated Mineral Resource Estimate in accordance with JORC 2012 provides strong support for the integrity, size, scale and upside potential of the project. Future drilling campaigns will be directed to expanding the Resource, testing the potential for a high grade core at depth, and exploring early stage development options for the project"
The Beutong project covers 10,000 hectares and is located in Nagan Raya Regency,Aceh, Indonesiain close proximity to existing infrastructure and only 60 kilometres from a large power station and seaport. In January 2018, the Beutong project was granted an Izin Usaha Pertambangan Operasi Produksi "IUP-OP", the production licence required to advance Beutong to the development stage. The IUP-OP provides for an initial 20 years of licence tenure which may be extended twice, each for a period of 10 years, totalling 40 years. The Beutong license is held by PT Emas Mineral Murni ("EMM"), in which Asiamet hold an 80% interest through its Singaporean registered subsidiary Beutong Resources Pte. Limited.
"Asiamet Res Ltd - Updates Beutong Copper-Gold Resource #ARS https://www.voxmarkets.co.uk/rns/announcement/59e67b1d-0432-4ead-8f0c-6f49e774d4ec via @voxmarkets @AsiaMet_Res_ARS"
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