Asiamet Resources Share Discussion Threads

[aim0raider] 25/8/2016 15:14

Still got your full holding Ayesha?

[richsmithsmith] 25/8/2016 14:48

Here's the Memorandum of Understanding with the six points agreed in principle.

[2lb] 25/8/2016 14:44

Not quite sure what the confusion is, it's all perfectly clear.

BKM, Production license granted, PEA completed, feasibility study in progress, reserves upgrade expected.
Beutong, Production license awaiting approval, reserve estimates in public domain
Jelai, Production license awaiting approval, reserve estimates in public domain


BKM, NAV already significantly higher than current MCAP
Beutong, NAV is multiples of BKM
Jelai, "icing on cake" expected to be monetised on production license approval.


RNS today is yet another non-update. No material news and once again we have confirmation , as with every month since May, that outstanding license approvals are expected "shortly" - which now has now lost all credibility and meaning whatsoever.

The company has made a sideshow out of the license conversions that it didn't need to and should have focussed all comms and activity on BKM alone, explaining that the return on that , fully approved, resource alone is of great value - this has got lost in the white noise of general corporate activity and other prospect resources where to date nothing of any note has happened whatsoever in either case.

The ongoing drift down is of no surprise, this has become a one way flow of trust and patience with pretty much nothing come back the other way.......

[harrissen] 25/8/2016 13:32

richsmithsmith,

All they have at BKM is an out of date Contract of Work (COW) which is now under review by the Indonesian government and will need updating on about six different clauses.
Try and look at the situation the way it is not the way you would like it to be!

What worries me is that as far as the Indonesian government is concerned they could put ARS on the back shelf and deal with it whenever they want and that could be years not months.

[richsmithsmith] 25/8/2016 12:41

yeah but... They have a production licence for the BKM mine (30 year). The news that'll move it is the JV/Partnership (or whatever) to get the resource out of the ground. That was what the recent tour of China and Indo was about.

The PEA shows us the value of the BKM asset (US$204m NPV10 and 39% IRR, dated 5 April, 2016) and since the infill drill results have since improved on these published numbers it looks very likely these numbers will improve.

PEA is here

[harrissen] 25/8/2016 11:28

aim0raider,
below is the extract from this morning's RNS which deals with the Production Licences. It clearly states that the Conversion of both the Beutong IUP and Jelai IUP has been significantly delayed because of government intervention. If you want to believe a twitter poster who says otherwise well and good but you are only fooling yourself. The fact is they still await the production Licences and I believe the company spokesman who made this statement as opposed to someone on twitter who clearly makes it up for his own benefit! I was one of the believers in Ascent when they claimed they were certain to win the court case and get the permit. It didn't happen and I just managed to get out while still in a bit of profit. Indonesia is no lover of the west and will fleece western miners in any way they can. The only thing that has slowed them down at the moment has been the drop in the price of copper. Once the price rises, if it does, they will tax every western miner out of business and take over the mines lock stock and barrel for themselves.


" Other activities undertaken in the six months ended June 30, 2016 have
been focused on corporate initiatives aimed at further strengthening the
company's project delivery capability and financial position and on the
conversion of the Beutong and Jelai exploration IUP's (Izin Usaha
Pertambangan) to production IUP's. Approval of the IUP Production
secures long term mining title valid for 20 years, extendable for two
subsequent periods each of 10 years duration.

Conversion of both the Beutong IUP and Jelai IUP has been significantly
delayed due to changes to the regulatory process and the responsible
regulatory bodies and personnel within the Government of Indonesia,
however the process is now nearing completion and a decision on the
grant of an IUP production for both projects is expected shortly.

Under Indonesian Mining law the holder of an IUP exploration is
guaranteed an IUP production provided all requirements have been met,
and an IUP exploration cannot be terminated if there has been an
application made to convert to an IUP production."

[mikeroot5] 25/8/2016 09:50

Some coverage in the Penny Stock Post today

[aim0raider] 25/8/2016 09:37

From the co's POV, it makes sense to milk the full value chain anyway.

This is a clean slate start. BKM will be highly efficient and use modern tech to produce the copper.

That's a big advantage over existing miners in situ, that will have to spend money and adapt if they want a seat at the table.

[mr roper] 25/8/2016 08:54

SOS..agree. Quite strange. All looks good to me. Full steam ahead on the feasibility for BKM, financing of BKM is really all that matters for me, the rest is nice to have.

[sos100] 25/8/2016 08:52

surprised that people posting here are not even fully aware of what production licences we do have..

[aim0raider] 25/8/2016 08:39

Harrison, Snicker is correct, BKM has a prod licence and is good to go. That one is sorted.

[harrissen] 25/8/2016 08:23

horneblower
25 Aug '16 - 07:47 - 3013 of 3014 0 0

harrissen: Do you mean raw copper ore?

.............

Yes hornblower - as far as I can ascertain one reason for the ban is China was buying up any copper ore they could get their hands but not for consumption for the home market they are putting it through their own smelters and selling it back as the finished article on the world markets. Indonesia is at logger heads with the multinationals who are mining copper there because they have not fulfilled their agreement to build new smelters that is why they are refusing to renew Freeport-McMoRan's export permit and extend their mining contract beyond 2021
Freeport operate one of the world's largest copper mines in Indonesia!

[snickerdog] 25/8/2016 08:08

Harrisen - have been reminded via Twitter just now that AsiaMet's main project BKM have their full 30 year production licence already. Think market has got itself confused placing too much emphasis on the licences for the secondary projects. As long as BKM and the FS are progressing well then I would guess that there would be little to worry about.

[nick rubens] 25/8/2016 08:06

Have to trust TM is on top of everything.

"however the process is now nearing completion and a decision on the grant of an IUP production for both projects is expected shortly."

Once that news arrives it's going to be mayhem trying to buy. I do understand anyone feeling nervous though, hence the share price being held back.

[aim0raider] 25/8/2016 08:02

snicker, just report it via the app or the [e-mail] address

Same for me too, i've reported it.

And the mobile charts issue!

[sos100] 25/8/2016 07:55

worth reading the PEA again for our main project,the one where we already have the production licences....

[horneblower] 25/8/2016 07:47

harrissen: Do you mean raw copper ore?

[adorling] 25/8/2016 07:41

For any new investors or frustrated existing investors it is always good to listen to Tony Manini on the 538 podcast below particularly where he says towards the end in his summary that he has seen this (low share price/undervaluation) all before and eventually the herd will arrive and we will see a rapid rerate of the share price. We all know how quickly this will move when this point happens.

The best time to invest is at the bottom of a cycle - this is that time for copper and no one is taking away the huge reserves and prospective reserves that ARS have at BKM, Beutong and Jelai in the ground and near to surface.

[soggy] 25/8/2016 07:29

Yep, those last two paragraphs are all that matter to most investors now and are what is presumably what's holding back the share price While we can draw comfort from the seeming certainty of it, there is still always that nagging fear that some bureaucrat somewhere will decide that we haven't fulfilled all requirements, (and the fear that I always have in far away countries with very different norms is that such a decision may be based on incompetence or corruption..)and we may find ourselves fighting a lengthy court battle to overturn it.

As I say, this is just a nagging apprehension, but I'll bet I'm not the only one considering it.

So, whenever 'shortly' has transpired and the licences are confirmed, then I'm sure it will be lift-off time for a stratospheric SP! And that's why I'm still in, sitting tight and waiting patiently.

[adorling] 25/8/2016 07:20

Half year results known several weeks ago but good to read that the Production Licences for both Beutong and Jelai were delayed due government process but they are expected shortly..

"Conversion of both the Beutong IUP and Jelai IUP has been significantly
delayed due to changes to the regulatory process and the responsible
regulatory bodies and personnel within the Government of Indonesia,
however the process is now nearing completion and a decision on the
grant of an IUP production for both projects is expected shortly."

I believe this news when it arrives will be the catalyst to see ARS push back over the 3.1p placing price. Additionally as BKM resources and grades increase through the feasibility studies then our asset base value will hopefully be reflected by share price appreciation.