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(ARS) Asiamet Resources Share Chat

Discussion in 'General Share Chat (ARS)' started by TupacAmaru, Oct 30, 2015.

  1. Inspiration

    Inspiration Moderator Moderator

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    Am generally very disappointed with the AIM companies which I've invested in. I'm spending less time following them or reading about them. Thank you Groucho for all your posts and apologies for not having contributed more, but every time there's a glimmer of hope, the price drops again, either due to traders or to directors having to make a placing at a lower price than they'd probably like. Switching off now for a few months.
     
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  2. Groucho

    Groucho Member

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  3. Groucho

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    14 October 2019


    ASIAMET RESOURCES LTD

    ('ARS' or the 'Company')

    Management Update Call

    Asiamet Resources ltd (AIM: ARS) is pleased to announce that it will host a Management Update Call for analysts and investors on Wednesday 16th October at 10:00am (BST). Peter Bird (Chief Executive Officer) and James Deo (Chief Financial Officer) will host the call which will consist of a short introduction followed by a structured Q&A session.

    The conference call can be accessed by dialling 0808 109 0700 (UK Toll Free) or +44 (0) 20 300
     
  4. Groucho

    Groucho Member

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    Posted on ADVFN by tektonic :

    Right. Nothing new in the call in my view and disappointing questions asked by those that did (open Q&A and not structured). Was unable to ask any myself.

    Summary is that forestry permit is (disappointingly) still in progress and of course there is a dependency on this for the team to drill the BKM/Z link zone and other targets until they get this. The management is frustrated with the company valuation but are certain it will prevail, turning point in the market recently with attitude to commodities. Team doing some analysis into the albion process so economic value can be proven using this on potentially 60% of the BKM resource but no time frames offered to completion of overall value enhancement activities. Recently identified infrastructure enhancements have yet to be economically modeled, but this is being worked on. Separate advanced partner discussions for BKX and Beutong are ongoing. Various investors have been looking at joining in both assets tactically after the BFS was released.

    detailed notes:

    - Take a more regular approach to keep shareholders involved - the first of what will become quarterly shareholder calls
    - Fundamentals - Biggest of the base metal market c.22m tonnes consumption annually. Very much supply constrained. Expecting further demand through the 'green' sectors as time goes on. Despite trade wars, the copper market is still growing at 1.6m compound. Equivalent of 16 BKMs.
    - Only 23% of funds are currently committed to satisfy the demand curve
    - Electric vehicles - one example is the green vehicle revolution. In the next 10 years 11% of new cars will be electric vehicles.
    - 780gw of new capacity required - 5.5m tonnes of copper metal required (25% of current annualised production)
    - Lead time to bring on a new copper project averages between 10-15 years. In 1991 there was 110mt of new discoveries made. That's now around 25mt. A 4-fold decline.
    - Longer term fundamentals will eventually prevail

    Indonesia

    - Exciting jurisdiction
    - Government elections have just been successfully been completed. No change in leadership and will continue to government for another 5 years.
    - Pro-development with respect to infrastructure
    - Pro to get rid of government red tape - ARS has seen strong evidence of this in the mining sector
    - Existing government in power but new government in by 20th October. Then full steam ahead for next 5 years
    - Country is open for business and will be a leading power house. Top 10 countries in the world for GDP growth.
    - Pro-mining, but at times can be bureaucratic, this is not unique and it is trying to streamline.

    ARS

    - KSK - BKM feasibility study is complete. 25k tonne. Environmental permits granted. Forestry permit in progress.
    - BKZ open in all directions
    - 15 other copper and gold prospects have been identified
    - Beutong is a much larger project - 2.4m tonnes contained copper, 2.1m ounces gold.
    - 80% ownership of Beutong
    - Open laterally and at depth, outcrops at surface which will grow over time

    Feasibility Study

    - BKM initial life of mine 9 years. Production of up to 25k tonnes. Revenue of 1.27b USD.
    - Capital costs estimate of 223m USD (all assuming brand new equipment, confident this will be reduced - sourcing quality second hand equipment. All quotations provided were without commercial negotiation and were for outsourcing).
    - Cost of extraction comes out at 7680USD/t, average is 10-15k/t
    - Albion leaching - 451k contained copper at BKM, only 173k/t is planned to be exploited. With the remaining 60% - atmospheric leaching process with ultra fine grind that allows the sulphidic copper material to be amenable to the leaching process. For the purposes of the FS added potential of 27m USD. Sample of that sulphidic copper ore to be tested in a pilot plant. If a positive outcome, this could add value.
    - Proximal resources to plants and infrastructure will be advantageous. The BKM/Z linkzone and some targets n/s. Root zone near the BKM pit. Drilling will commence once the permit will land.
    - The remainder of the year - 1. Continue discussions with partners to appropriately balance the risk and returns on BKM. Ongoing. 2. Continue with permit process to allow access to exploration targets at BKM. (somewhat dependent on new departments being in place in government). 3. Social mapping work at locations for CSR - critical to do this so that the community can work with ARS and be engaged. 4. Value enhancements

    Questions:

    1. Funding - Are these still split between different potential partners between BKM and Beutong? In August 3.1m USD was raised. Burn rate reduced substantially after BFS was complete. In terms of partner discussions. These are multi-pronged, there is interest in Beutong and BKM (separate discussions). Various investors looking at joining in both assets tactically after the BFS was released. Last 6-12 months has had a negative view on commodities. This attitude has shifted from "risk-on" to "risk-off". This is consistent with the supply/demand fundamentals and this is starting to escalate.
    2. In September the public infrastructure upgrades were announced - what does this do to Opex for BKM? Not been modelled yet. The path was identified but was not completed to feasibility standard, this is being worked on currently. Its about 200km shorter in distance.
    3. Mine life? Base case for BKM is c.9 years. The majority of drilling in the past 18months was specifically centred within the pit rim of BKM to complete the BFS. There are a number of targets around BKM that need to be evaluated. As a general statement, you don't tend to spend the money in the ground to extend mine life at the start of the mine. Progressively over the first couple of years you would spend more aggressively. What is normally the case is they tend to extend over a number of years at the back of their life as you start to extend around you mine. It gets cheaper to do this as the mine develops - but not quantifiable at this point in time.
    4. Views on the mismatch between broker valuations and current market cap. Broker numbers - broad range of valuations ranging from 13p - 22p. Big distance from current valuation, doesn't make a lot of sense to the team as the BFS is out and is commercially viable, discounted with exploration upside. Beutong on top of this as well. Strong value argument for the stock currently, but time will tell. Shorter term gyrations in the market have had a fairly broad impact on more than just ARS. The team doesn't look at the share price everyday, they are trying to build a business and look forward. PB very confident it will prevail, they are just as frustrated.
     
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  5. Groucho

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  7. Groucho

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    13 November 2019


    Issue of Shares to Consultant


    Asiamet Resources Limited ("ARS" or the "Company") notes that Whittle Consulting Pty Ltd (the "Consultant"), a consultant to the Company responsible for performing work in conjunction with the BKM Feasibility Study, has agreed with the Company to accept half its invoiced fees, being US$200,000 (£162,824), in common shares of the Company in settlement of such invoices.

    The share price used for the calculation is a 5-day VWAP over the 5 trading days immediately following the end of the last close period, being completion of the financing announced on 20 August 2019. In this case the share price used based on the above formula was approximately 3.612 pence per share and accordingly the Consultant will receive 4,507,335 common shares (the "New Common Shares").

    Application will be made for the New Common Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission to AIM will become effective and dealings in the New Common Shares will commence on or around 14 November 2019. The New Common Shares will rank pari passu in all respects with the existing common shares in the Company.

    The total number of common shares outstanding after completion of the issue of the New Common Shares will increase from 1,096,360,742 to 1,100,868,077. This represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
     
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  8. Groucho

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    26 November 2019


    KSK Exploration Update


    Asiamet Resources Limited ("Asiamet or the "Company") is pleased to provide an exploration update on its KSK Contract of Work ("CoW") following the release of the Feasibility Study (see RNS dated 14 June 2019) for its 100% owned BKM Copper Project located in Central Kalimantan, Indonesia.

    The KSK CoW as highlighted in Figure 1 is 39,443 hectares and has a number of copper, copper-gold and other polymetallic targets. The entire CoW has been under explored by the Company as focus has centred on delivery of the BKM Feasibility Study. The BKM copper project, the most advanced of all Asiamet's projects within the KSK CoW, has the following JORC compliant reserves and resources:

    BKM Project, (total Reserves Proven and Probable)

    · 51.5Mt @ 0.6% Cu for 303kt of contained copper

    BKM Project Resources (total Measured, Indicated and Inferred at 0.2% Cu cut-off)

    · 69.6Mt @ 0.6% Cu for 451.9kt of contained copper


    Exploration Programme

    The Feasibility Study outlined a number of value enhancement opportunities which have the potential to significantly enhance the overall economics of the BKM copper project. Asiamet is advancing a number of these opportunities concurrently and has now designed an exploration programme focused on some of the walk-up targets in close proximity to the BKM copper project (less than 3kms).

    These walk-up targets have the potential to add significant value by extending mine life beyond the initial 9 years. In addition, these targets are expected to add heap leachable copper resources to those already defined and create further opportunities for revenue enhancement. The high-priority target areas include:

    · Target 1 "The Link Zone"- Extensions to the BKZ high-grade volcanic-hosted massive sulphide ("VHMS") style Zn Pb Cu. The BKZ mineralisation has strong characteristics with Zn-Pb-Cu VHMS style mineralisation, with upper bedded stratiform Zn and Pb and a lower copper pyrite zone. The lower copper pyrite zone at BKZ is not dissimilar to the BKM copper deposit and therefore BKM and BKZ could be part of the same mineralisation. Evaluation of the exploration data between BKM and BKZ supports this interpretation and shows that there is 500 metres of untested potential, termed the "Link Zone" between BKZ and BKM.


    · Target 2 "BK West"- Testing of IP chargeability highs to the North West of BKM. The BKM Copper mineralisation is associated with a geophysical Induced Polarisation ("IP") high chargeability signature. There is also a significant high IP chargeability signatures located approximately 800 metres to the West North West of BKM. This anomalous area like BKM has coincident silica sericite alteration and copper sulphides in veining which remains untested. This North West BKM Target appears to be about 200 metres long (50% of the size of the BKM IP chargeability high).


    · Target 3 "The Root Zone" - Extensions to the BKM copper mineralisation at depth target. At BKM between 31850N and 31500N there is an IP chargeability anomalous high which dips at 40 degrees to the west for at least 250 vertical metres. This IP chargeability high termed the "Root Zone" is immediately below the near-surface BKM copper mineralisation, which dips to the east. Within the context of the BKM resource drilling it has been noted that several drill holes have intersected copper mineralisation which is open at depth. For example, drill hole BKM31750-06, intersected 7m @ 1.02% Cu at end of the drill hole. It is recommended to drill test this IP chargeability high at depth to the west, as this area may in fact be the "Root Zone" for the BKM mineralisation.


    · Target 4 - Near-surface oxide potential at BK South, that may be amenable to SX-EW processing.

    BK South Target is located approximately 1km to the south of the BKM Resource and shows near-surface oxide copper mineralisation in previous drilling over an area of 300 metres by 300 metres. Drill intercepts include:


    · BKM30500-01, 12 metres @ 2.15% Cu from 17.5 metres

    · KBK028, 6.5 metres @ 0.43% Cu from 2 metres

    · BKM30625-01, 10.25 metres @ 0.62% Cu from 4.25 metres.


    Drill holes are broadly spaced, up to 100 metres apart.


    The Company has completed and lodged all required documentation in relation to the permits required for exploration access of the above-mentioned targets and mobilisation of drilling equipment is anticipated in the next couple of weeks.

    Asiamet's CEO Peter Bird commented:

    "Our technical team has defined an exploration programme to systematically explore the area surrounding our current Resources at the BKM copper project. We are currently waiting receipt of the exploration permit and once received, we anticipate drilling these four targets areas located in close proximity to the existing Resources at BKM this year. Our previous exploration work suggest that there are a number of walk-up targets in the area, a number of which are oxide dominant which allows for processing via heap-leach and SX-EW.

    Any discoveries that are defined proximal to the current BKM Resource have a commercial advantage when compared with more regional discoveries as they can leverage off proposed infrastructure, logistics and technical expertise that will be already established around the BKM Mine."


    Figure1 Kalimantan Surya Kencana (KSK) Contract of Work. To view the image, please use the following link https://asiametresources.com/wp-con...mantan-Surya-Kencana-KSK-Contract-of-Work.jpg


    Figure 2 Priority Drill Targets Surrounding BKM, (Open Pit Outline in Yellow) To view the image, please use the following link https://asiametresources.com/wp-con...ets-surrounding-BKM-pit-outline-in-yellow.jpg
     
  9. Groucho

    Groucho Member

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    10 December 2019


    Company Update


    Asiamet Resources Limited ("Asiamet or the "Company") provides the following Company update with respect to its projects following the recent share price movement on 9 December 2019. The Company is not aware of any operational or corporate reason for the large price movement.

    From an operational perspective, the Company has had a very active 2019 with a number of milestones being achieved, these include;

    · A comprehensive drilling program at the BKM project with some good copper results that further strengthened the Resource;

    · Maiden Ore Reserves for the BKM Copper project comprising (JORC Code 2012)

    · 21.1Mt @ 0.6% Cu for 137k contained tonnes of copper in the Proved category;

    · 30.4Mt @ 0.5% Cu, for 166k contained tonnes of copper in the Probable category; and

    · 51.5Mt @ 0.6% Cu, for 303k contained tonnes of copper in the Proved and Probable category

    · Delivery of a robust Feasibility Study for the BKM Copper project with the following key metrics

    · An initial 9 year life of mine producing 25,000 tonnes of copper cathode per annum;

    · Life of mine revenue of $1.27 billion and EBITDA of $563.3 million;

    · Post Tax NPV8 of $124.8 million; and

    · C1 cash cost of $1.65/lb and AISC of $1.78/lb

    · Additional value to be generated through clearly identifiable value enhancements to improve the Feasibility Study by a minimum of $35 million on a risk weighted basis;

    · Planned exploration work on four strategic targets in close proximity to the BKM Copper project to further add life through satellite discoveries.

    The Company has increased its contained copper metal inventory from 1.37Mt in 2016 to 2.37Mt of contained copper in 2019. This is largely due to the successful exploration programs and its increased equity position from 40 to 80% in the Beutong copper-gold project.

    With respect to our licences at the KSK Contract of Work and Beutong IUP projects, both licences are in full compliance and in good standing. The Company is awaiting a drilling permit for further exploration work over the proposed production area to be granted from the Government. This permit is currently with the Government of Indonesia awaiting approval. Once approved the Company will use its own drilling rigs and personnel to drill the four strategic targets identified (refer KSK Exploration Update RNS, 26 November 2019) to generate further upside for the Contact of Work area.

    At Beutong, the strategy remains to test the deeper targets and the higher grade copper-gold zones of the porphyry system. Along with this, undertake metallurgical test work to generate development optionality for potential of early staged project construction and development through heap leach or alternative mining and processing methods.

    From a Corporate perspective, strategic discussions with respect to partnering continue with highly reputable and interested parties. A number of participants are active in the corporate data room. With on-going discussions, the Company will provide an update when a position is formalised.

    The copper market continues to trade sideways as a number of macro factors such as US/China trade negotiations and BREXIT continue to drive uncertainty with respect to global growth. However, we are starting to see global copper inventories fall with restocking across Asia providing some short term support to the copper price. The simple fact remains there has been a lack of investment in the copper sector over a number of years and with the copper consumption market having grown at a steady rate over the last decade, supply from existing projects will not be able to meet future demand causing a constraint in future supply. With a copper dominant portfolio and two projects in different stages of maturity the Company is well placed to take advantage of upcoming shortage in copper supply. This is also notably reflected by those the Company is currently in strategic discussions with.
     
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  10. Groucho

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    Asiamet's Tony Manini updates from Jakarta
    on partnering discussions and plans for 2020
     
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  11. Groucho

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    22 January 2020


    Asiamet Relocates Head Office and Corporate Function to Jakarta, Indonesia


    Asiamet wishes to advise that following on from a review of its operations and the development path for the Company going forward, it intends to relocate its corporate head office function from Melbourne, Australia to Jakarta, Indonesia commencing immediately.

    While there are a number of drivers for the relocation, the Asiamet Board considers that a significant increase in corporate and project activities relating to ongoing funding and development of the Company's asset portfolio, in particular the nearer term BKM Copper Project, is best served by moving the Corporate head office to Jakarta.

    As part of this transition, CEO and Deputy Chairman Mr Peter Bird will depart the Company effective Friday 31 January 2020.

    Chief Financial Officer, Mr James Deo will continue to work with Executive Chairman Tony Manini to transition the corporate functions to Jakarta over the next 2-3 months and a recruitment agency will be appointed to assist the Company with a search process to fill senior operational management roles in Jakarta. James will continue in his current role until the Jakartaoperational team is fully established and the transition of all corporate functions and activities is complete.

    The Asiamet in-country team remains highly focussed on advancing the extensive processes required to secure the permits for further drilling and BKM project construction, and these activities will continue uninterrupted reporting directly to the Executive Chairman. Intensive ongoing financing activities are being led by the Executive Chairman, supported by the CFO and Board.

    Executive Chairman Mr Tony Manini said "the Company is now in a strong position as a result of the delivery of the BKM Feasibility Study and the establishment of management systems and processes that have been put in place by the Melbourneteam to set the Company up for its next stage of development. These are never easy decisions but it is the Board's firm view that post completion of the BKM studies phase, the major activities relating to permitting, funding and project development are best managed from a Jakarta headquarters. On behalf of the Board I would like to thank Peter and his small team in Melbourne for their dedication and hard work over the past few years and wish them well in their future endeavours."
     
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  14. Groucho

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    Full interview: Asiamet's Tony Manini updates on 'intensive' financing talks following relocation of HQ
     
  15. Groucho

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    13 March 2020


    Asiamet Business Update


    Asiamet Resources Limited ("Asiamet or the "Company"), despite the recent market turmoil remains focused on the ongoing development of its advanced stage high quality, copper, copper-gold and base-metals deposits in Indonesia. The Company hereby provides an update regarding its projects and current business activities.


    Licences


    Asiamet confirms that all licences and tenure for its KSK Contract of Work (CoW) and Mining Business Licence (Izin Usaha Pertambangan - 'IUP') for the Beutong project are in compliance with Indonesian regulations and in good standing

    1. The KSK Contract of Work (CoW) covering 39,443 hectare in Central Kalimantan including the Feasibility Stage BKM copper project was re-negotiated with the Government of Indonesia in March 2018 to secure long term mining tenure for up to 50 years with a fixed fiscal framework of globally competitive terms and conditions. The proposed BKM copper development will significantly increase employment of Indonesian nationals and use of local products and services, and the local communities in Central Kalimantan continue to be strongly supportive of the Company and the development of the BKM project.

    2. The Beutong project covers over 10,000 hectares held under a Mining Business Licence in Nagan Raya Regency, Aceh. An Indonesian government level feasibility study has been completed and the IUP remains in good standing with up to 30 years of tenure remaining.


    BKM Copper Project


    A feasibility study completed in June 2019 on the development stage BKM copper project within the KSK CoW delivered robust outcomes as follows:

    · An initial 9 year life of mine producing up to 25,000 tonnes of copper cathode per annum;

    · Life of mine revenue of $1.27 billion and EBITDA of $563.3 million;

    · Post Tax NPV8of $124.8 million; and

    · C1 cash cost of $1.65/lb and AISC of $1.78/lb

    · Additional value to be generated through clearly identifiable value enhancements to improve the feasibility study NPV by a minimum of $35 million on a risk weighted basis



    The BKM copper project is demonstrably commercial with significant upside potential through 'quick win' exploration targets adjacent to the proposed mine development area providing opportunity to add further mineral resources to the existing resource base. Exploration success may extend the initial life of mine by several years and significantly further improve the underlying economics of the project.


    As part of its stated value enhancement plan, Asiamet has identified four key "near mine" targets, notably the BKM-BKZ 'Link' Zone, IP geophysical targets at BKW, the BKM 'Deep' Zone, and the BK 'South' Zone.



    In order to commence drilling, the Company is currently awaiting a renewal of its forestry exploration permit, to be approved by the Ministry of Environment and Forestry (MEoF) and issued by Bandan Koordinasi Penanaman Modal (BKPM), the investment co-ordinating body of Indonesia. As part of this process Asiamet has submitted all necessary documentation and plans to the Ministry of Mines, Energy and Mineral Resources (MEMR) and MEoF, and has received endorsement and approval from both government departments. This permit is currently in its final stage of approval with BKPM which is now responsible for issuance of all business permits for Indonesia. Asiamet looks forward to updating investors as soon as this permit is issued.


    In June 2019 Asiamet booked its maiden Ore Reserves for the BKM project, a major milestone which assesses the economic viability of the project. Ore Reserves represent that part of the Resource base which can be economically extracted using independently defined economic and technical parameters in the BKM Feasibility Study and provide the underlying foundations of the project.


    The very strong conversion of Resource to Reserve tonnages fully validates our belief that the BKM project represents a robust mid-size copper project with excellent potential for mine life extensions through conversion of existing Inferred Resources to Ore Reserves and ongoing exploration success.


    BKM 2019 Ore Reserves (JORC Code 2012) comprise:

    · 21.1Mt @ 0.6% Cu for 137k contained tonnes of copper in the Proved category

    · 30.4Mt @ 0.5% Cu, for 166k contained tonnes of copper in the Probable category

    · 51.5Mt @ 0.6% Cu, for 303k contained tonnes of copper in the Proved and Probable category


    As part of the Feasibility Study the Company also updated its Mineral Resource Estimate as part of JORC Code 2012. The BKM 2019 Mineral Resources (JORC 2012) at a 0.2% Cu cut-off grade comprise:


    Total Resources of 69.6Mt @ 0.6% Cu for 451.9k of contained copper:

    · 20.6Mt @ 0.7% Cu for 148.5kt of contained copper in Measured Resource

    · 34.1Mt @ 0.6% Cu for 212.6kt of contained copper in Indicated Resource

    · 15Mt @ 0.6% Cu, for 90.8kt of contained copper in Inferred Resource

    The BKM project lies in a very prospective mineral district and is one of very few copper development projects close to the end-user consumer markets in Asia, at a time when the copper market is forecast to move into a supply deficit due to a lack of investment in exploration and development over the past 10 years.


    The Company is engaged in advanced discussions with a number of potential Asian strategic partners who recognise the rare opportunity presented by the KSK CoW, commencing with development of the BKM copper project. It is the Company's intent to finalise these partnering discussions as soon as is practically possible.



    BEUTONG COPPER GOLD PROJECT


    Beutong is a large, high-quality, globally significant copper-gold porphyry with current JORC compliant Resources containing 2.43Mt (5.3Blb) copper, 2.11Moz gold and 20.9Moz silver on a 100% basis.

    The Beutong project covers 10,000 hectares in Nagan Raya Regency, Aceh, Indonesia and is well served by existing infrastructure with a power station and seaport 60 kilometres from the intended site.


    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 holds an 80% interest.


    Beutong is a large high-quality copper, gold, silver, molybdenum deposit which outcrops at surface and remains open in several directions including to depth. Potential to increase the size of the deposits with further drilling is considered very high.


    Strong copper, gold and molybdenum grades and the presence of highly mineralised chalcopyrite-bornite-magnetite bearing breccia clasts proximal to a large magnetic body modelled at depth below current drilling highlight excellent potential for the discovery of a high grade core similar to that seen in world class porphyry systems such as Wafi Golpu, PNG (Newcrest)


    Highlighted intercepts from previous drilling campaigns at Beutong include:

    · BEU0500-01 : 445.0m @ 0.54% Cu, 0.17g/t Au from 7m

    · BEU0900-08 : 456.0m @ 0.93% Cu, 0.15g/t Au from 10m

    · BEU0800-01 : 215.8m @ 1.20% Cu, 0.20g/t Au from 4.8m

    · BEU0800-02 : 320.4m @ 1.11% Cu, 0.19g/t Au from 6.6m

    · BEU0700-03 : 384.2m @ 0.68% Cu, 0.21g/t Au from 71.5m


    At Beutong, the strategy remains to test the deeper targets and the higher grade copper-gold zones of the porphyry system, and to undertake metallurgical test work aimed at assessing the potential for a staged development via heap leach or alternative mining and processing methods.


    The Beutong project represents a rare advanced development stage copper opportunity given its scale and location close to the coast, proximity to excellent infrastructure, production licence tenure and proximity to the key Asian consumer markets.



    Tony Manini, Asiamet Executive Chairman Commented:

    "While the copper market continues to be impacted by a number of macro factors including the US-China trade war and more immediately the Corona-virus outbreak, the longer-term fundamentals remain very strong.

    Almost universally major and mid-tier base metals mining companies globally are actively pursuing new copper opportunities through exploration and business development activity.

    The simple fact remains that there has been a lack of investment in the copper sector over a long period of time while demand has been growing at a steady rate. The supply from existing projects is projected to be unable to meet future demand enhanced by green energy and electric vehicle applications.

    With two of the best undeveloped copper projects in the Asian region, Asiamet is extremely well placed to take advantage of this projected deficit in copper supply and the level of interest we have had in our projects from strategic investors in recent times clearly reflects this thematic.

    The high-quality group of potential partners we are engaged with remain focused on these longer-term fundamentals and are looking to secure development ready copper projects at or near the bottom of the market.


    The Asiamet board and management, as significant and aligned shareholders, consider the Company and its assets to be highly undervalued and are determined to bridge this value gap as quickly as possible through ongoing development of the assets in partnership with likeminded strategic investors. The Company will provide an update when a position is formalised."
     
  16. Groucho

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    Asiamet Resources Limited has completed a private placement to raise £3.36m with its strategic investor, Aeturnum Energy Pte LTD, which has become its largest shareholder at 19.9%, and various Directors and a small number of long-term supportive shareholders.

    Tony Manini, Executive Chairman commented: “Asiamet welcomes Aeturnum as a major shareholder of the Company and looks forward to working with the Company’s management to secure the terms for a KSK project level transaction and the ongoing strategic development of our broader business.

    We have been engaging with a number of groups to secure a partnership that enables Asiamet to continue building value through the ongoing development of our projects over the short, medium and long term. We believe that AE as an emerging growth company with the vision of building a leading Asian Green Energy business based around copper and copper products, is strategically very well aligned with our drive to become a leading Asian copper producer.
     
  19. Groucho

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  20. Groucho

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