Asiamet Resources Share Discussion Threads

[boom boom bang bang] 02/11/2017 07:09

Independent Oil & Gas PLC Results of a Competent Person's Report on Harvey

02/11/2017 7:00am
UK Regulatory (RNS & others)

Independent O&G (LSE:IOG)
Intraday Stock Chart
Today : Thursday 2 November 2017

Click Here for more Independent O&G Charts.
TIDMIOG

RNS Number : 3339V

Independent Oil & Gas PLC

02 November 2017

2 November 2017

Independent Oil and Gas plc

Significant Prospective Resources Confirmed and Well Committed at Harvey

Independent Oil and Gas plc ("IOG" or the "Company"), the development and production focused Oil and Gas Company, is pleased to announce its commitment to drill an appraisal well on Harvey and the results of a Competent Person's Report ("CPR") on the Harvey licence by ERC Equipoise Limited ("ERCE").

Highlights:

-- CPR confirms gross mid-case unrisked prospective gas resources for the Harvey structure of 114 BCF, in line with management estimates

o Minimum 45 BCF, most likely 114 BCF, maximum 286 BCF gross unrisked prospective gas resources on the Harvey structure

o Most likely 90 BCF on the Harvey structure licensed 100 per cent by IOG
o CPR assesses geological chance of success at 50%
o Plans underway to licence all Harvey resources
-- Firm commitment made to the Oil and Gas Authority ("OGA") to drill an appraisal well on Harvey within 2 years

-- CPR Executive Summary and updated corporate presentation on IOG website
Harvey Overview:

Harvey lies directly between IOG's Blythe and Vulcan Satellites hubs. Upon successful appraisal, Harvey gas could be exported via the nearby Thames Pipeline, in line with IOG's hub strategy.

The CPR states that the Harvey structure lies up-dip of a well drilled in 1984 on the west flank of the structure that may have encountered a gas column of 30 ft in the Leman sandstone. An appraisal well is required to clarify the up-dip potential of the Harvey structure. Accordingly, IOG has committed to drilling an appraisal well on the Harvey structure by 20(th) December 2019. This is subject to acceptance and a licence extension by the OGA.

Subject to successful appraisal, IOG would request the OGA to determine the Harvey licence area to include the full structure. IOG's intention would then be to fast-track Harvey into development, exporting the gas via the recommissioned Thames Pipeline.

A Harvey development would be likely to have significant economic synergies with IOG's two nearby gas hubs.

A copy of the CPR executive summary and an updated corporate presentation are available on the IOG website: -

hxxp://www.independentoilandgas.com/

Mark Routh, CEO and Interim Chairman of IOG commented:

"It is very encouraging that the prospective resources in the Harvey structure have been independently confirmed to be in line with management estimates. The down-dip well demonstrated the presence of gas in the system and the presence of good reservoir quality in the Harvey area. This makes the maximum case of recoverable gas a compelling target and in that context, we are very excited to commit to the appraisal well. If we proved up the most likely gross resource number, Harvey would be the largest field in our gas portfolio and its economics would be significantly value accretive for IOG. We look forward to providing details on the well plans in due course."

-ENDS-

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Enquiries:

[jailbird] 02/11/2017 07:01

Broker targets currently disagree with your higher targets.10p is realistic though

[cpap man] 02/11/2017 06:55

Just a quick update on the ARS chart and that is that ARS are performing extremely well with the initial share price target of 10p+

A break of this level will in my view see ARS then move fairly swiftly to the 20p to 30p range

The ARS chart looks a beauty!

[mr roper] 02/11/2017 06:52

The BHP guy sounds l8ke he’s just read one of Tony’s Asiamet presentations from 2 years ago....

[cpap man] 02/11/2017 06:17

Truly out standing news out in Aus from ARS

[cpap man] 02/11/2017 06:16

Subject: Asiamet Management Interview with Vox Markets and Proactive Investors

Good Morning,

Please find two recent interviews with Asiamet Management:

Audio Interview with Vox Markets (Tony Manini and Peter Bird)

hxxps://audioboom.com/posts/6429709-executive-chairman-tony-manini-ceo-peter-bird-of-asiamet-resources-ars

Executive Chairman, Tony Manini & CEO Peter Bird of Asiamet Resources #ARS discuss the appointment of Ausenco an international engineering, construction and project management company for the Beruang Kanan Main (“BKM”) Feasibility Study. They also talk about other parts of the project and the copper market.

Video Interview with Proactive Investors (Steve Hughes)
Asiamet Resources continuing to hit high grades at BKZ

[...]

Steve Hughes, VP of exploration for Asiamet Resources PLC (LON:ARS), tells Proactive's Andrew Scott their drilling programme at BKZ continues to deliver high grades of a number of metals.

What began as a five-hole programme has now become 12 with Hughes saying he's just finished the tenth hole today.

''We've got two holes left .. I suspect it's about another week and then we'll move the rig. I think we'll probably go down to southern BKM where there's more massive sulphides''.

[mirabeau] 02/11/2017 06:14

Copper’s time has come

02 November 2017, 12:00 AM



Daniel Malchuk, President Operations, Minerals Americas
LME Week Bloomberg Forum, London, 1 November 2017.

Check against delivery

Thank you to Bloomberg for the opportunity to share our views on copper, it’s a pleasure to be here at LME week in London.

As a Dual Listed Company, London is one of our homes and a very important base for our European investors.

I personally have a strong affiliation with copper – my beginnings with BHP were in copper in the United States and since then I’ve gained over two decades of experience across different commodities around the world.

Even now (in my capacity as President Operations, Minerals Americas) I am responsible for many non-copper assets, I’ll have to admit that copper still has a special place in my heart!

Let me start by stating that Copper fits our strategy

For many years, we have been clear about our positive outlook for copper, and have worked extremely hard to make sure our assets are well placed to deliver copper to the world.

At BHP we think in decades and generations. Our ability to plan, work and invest for the long term is our advantage.

We choose commodities that will deliver returns through the cycle.

As you know, the theme of this forum is “East meets West” which is very appropriate for my discussion today, given that Asia is expected to remain the powerhouse of growth to fuel commodities demand such as copper for decades to come.

So, today I will focus on two things:

Why we like copper and the outlook for supply and demand; and secondly
How we will create value with our quality assets, through exploration and the application of technology.

So let me start, or rather remind you, of the market fundamentals.

Our historic positive outlook on copper – and I believe many of you will agree with me – is underpinned by strong demand drivers because of its relevance to each step of the development cycle, combined with characteristic ore quality depletion from the supply standpoint.

The world needs resources to grow – it needs them to help build new cities and provide cleaner – and ideally renewable – energy that can power whole communities.

I am telling you nothing new so far, these conditions have been well understood for a while. However, in the last few years we have seen the strong emergence of two drivers that have potential to lift this game even higher.

These are electric vehicles and renewable energy… and fortunately Copper is ideally placed to benefit from the expected upsurge in demand from both.
The rise of renewables is a positive story. Thanks to strong policy support and major technical improvements, wind and solar power generation have increased nearly 50-fold since 2000!

Solar’s share of global power generation has more than doubled in just three years – yet still accounts for a small slice of the total energy mix.

Even so, this presents a great opportunity.

Solar requires about five kilograms of copper per kilowatt – that’s more than double the copper intensity than alternative forms of generation.

And with the use of solar expected to rise around the globe, this is an enormous amount of copper to source!

Now turning from the power grid to the highways…

A hybrid car uses 40 kilograms of copper – that’s twice the amount of copper a regular petrol car uses.

A pure battery-powered electric vehicle uses even more copper – about 80 kilograms or four times that of a petrol car!

And if you think you are seeing more and more hybrid and electric vehicles on the roads, you’d be right.

To capture this insight, I’d now like to share a short animation from our Prospects blog.

So as you have seen, the global electric vehicle fleet is expected to increase from one million vehicles today to about 140 million by 2035!

We believe electric vehicles could require even more copper as they evolve – up to 105 kilograms per car.

That would see copper demand for electric vehicle fleets grow to an estimated 12 million tonnes, or more than half of the current global market for refined copper.

Sure, demand for other metals will also increase as a result of this trend, such as lithium, cobalt, nickel etc. However it is the relative magnitude which makes copper our key area of focus.

Based on total refined copper output, the value of the copper market could increase by over 50 per cent by 2035 – an opportunity worth seizing!

Now you see why copper is firmly on our radar.

But, as good as this market looks there are some hurdles we need to clear first that would set us up for the future.

Supply constraints – meeting the challenges of the copper industry

The challenges such as supply constraints we face are significant. These range from declining grades, deeper deposits, harder ore, labour productivity and water scarcity, to higher expectations from host governments and communities.

Grade decline alone has huge ramifications. Industry grades are expected to decline by 17 per cent according to Wood Mackenzie data over the next decade. Ageing mines require more effort and cost to deliver the same production.

Securing reliable power and water supply to support operations requires a proactive approach.

The over‐reliance on groundwater sources is a major issue for the industry, particularly in Chile. There will be a growing need for desalinated water to process the higher volumes of lower‐grade ore.

And BHP is not standing still.

We are applying advanced manufacturing practices such as automation, remote operations and a keen focus on improving our planning and execution of maintenance.

We have the luxury of having a phenomenal resource endowment, a portfolio of high quality, and long-life copper assets, such as Escondida, Spence, Olympic Dam, Antamina and the option at Resolution.

We have worked hard over the past decade to invest at the right time and our existing copper portfolio is now well positioned to benefit from what we believe is a brilliant future.

Exploration – bringing the future forward

In spite of our attractive resource base, we want more copper resources in our portfolio. And we believe the most valuable pathway to achieving this is through exploration, the drill-bit!

Exploration has the highest potential to deliver future returns and that is why it is a key part of our copper strategy… but we also recognise that given our high standards it is not an easy task.

Copper exploration these days is as a trade-off between depth and maturity.

The mature, well established and explored regions such as Chile are clearly less likely to host a big discovery close to the surface, with new deposits more likely to be at depth… and therefore more difficult to identify!

On the flipside, as we venture into less mature regions, such as Ecuador, where exploration activity levels have historically been lower, the potential for new discoveries closer to the surface is greater.

BHP is positioning as a global exploration leader. This is not about having the largest budget. It is about allocating the funds wisely through a highly focused and technical approach.

We have both the advantages of geoscience expertise and industry diversification. So what does this mean?

Our Copper Exploration team is leveraging our in-house petroleum exploration expertise with a specialised approach to exploration and deposit modelling.

What we call the ‘Mineral System’ allows us to identify without pre-conceived biases the best geological environments capable of hosting Tier 1 copper deposits.

Knowledge-sharing between our teams at BHP is important, but another valuable part of our exploration strategy is our academic ties.

Our partnerships with the likes of Bristol University, and the Universities of Wollongong and Western Australia, has helped us tackle the geoscience issues our explorers face. We are developing tools that measure the fertility of terrains.

We have leveraged data analytics and developed complex algorithms to be applied using Machine Learning techniques. BHP holds over 100 years of exploration data which provides a competitive advantage for building these algorithms, which have the potential to identify areas capable of developing Tier 1 deposits – This is an exciting prospect!

Our exploration techniques give us an early mover advantage, and inform us whether to continue or exit. This ensures we are sustaining a high-quality portfolio.

Our current exploration strategy targets porphyry, skarn and sedimentary hosted copper deposits globally, with a focus in the Americas, and IOCG mineralisation in South Australia. These settings host the most important Copper deposits ever found.

At the end of financial year 2017, our copper exploration portfolio comprised 79 projects covering 1.8 million hectares.

We have made, and continue to be open to, exploration alliances with junior explorers – their expertise and flexibility allow us to advance projects along the exploration pipeline. We are open to new ideas and opportunities, feel free to bring these to us!

We are aware that greenfield exploration is challenging and high-quality mineral deposits are increasingly scarce and difficult to find.

To be successful in Exploration, it requires perseverance and a stable and sustained investment through the commodity price cycle.

The rewards though – if we get it right – will be great.

Conclusion – Think big, think copper

Now to wrap everything up ….

We believe there is a great future ahead of us, full of opportunities as BHP becomes more active in adopting new technologies over the whole value chain. From exploration to marketing!

We can only grasp that future if we think big. And it is copper that will lead the way!

Copper has had great fundamentals for some time, and great potential due to the rapid rise in renewables and electric vehicles.

We are well placed to support increased copper supply into the global market, given our resource endowment.

Our existing copper assets are world-class. We have a smart exploration program and a sustainable approach that will see us be a key player in this market at a global level for years to come.

In a world that is changing, in a world that is increasingly technological, and in a world that is powered by copper – we think copper – we think big.

[mattjwhity] 01/11/2017 22:34

https://m.youtube.com/watch?v=hmga4PoSRgUIf you've not heard of Rick Rule quite a good listen with our wonderful BKZ update today. Rick is bullish on zinc and copper in mid-long term and he's normally right.

[mr roper] 01/11/2017 21:10

Proactive want your questions for Mr Zinc

[mattjwhity] 01/11/2017 20:56

I'm thinking more news tomorrow too...

[charles clore] 01/11/2017 19:14

Bobby - apparently the sellers are spending the money on a lifetime supply of tissues for themselves and their families.

[adorling] 01/11/2017 18:55

Well we soaked up all those sells today and still closed at +4.7% helped by our half million afternoon buyer back today. ARS are turning up the heat for some significant RNS announcements in the coming weeks.

[mount teide] 01/11/2017 18:50

The story here just gets better and better.

Post the 5.5p breakout, the chart continues to set higher highs and higher lows - a bullish signal which suggests the smart money is coming in rather than leaving.

The sellers are being reduced to a sideshow, replaced by more investors who are bullish.

[walter walcarpets] 01/11/2017 18:47

Asiamet - the company that keeps on giving. Better be careful I don't fall too much in love.

[dorset64] 01/11/2017 17:42

Asiamet Resources' scout drilling programme adjudged a success
Share
14:26 01 Nov 2017

Asiamet has been drilling at the BKZ poly-metallic prospect located on its Kalimantan Surya Kencana 6th generation contract of work in Central Kalimantan, Indonesia

Mining drill
The initial BKZ scout drilling programme is now complete

Asiamet Resources Limited (LON:ARS, CVE:ARS) continues to intersect thick, near surface high-grade base and precious metal-rich mineralisation while drilling its BKZ prospect in Kalimantan, Indonesia.

The company said visible massive sulphide or vein style mineralisation has been intersected in thirteen of the fourteen holes drilled to date over an area of 225 metres (m) x 100 metres. The deposit remains open in multiple directions, Asiamet added.


BKZ continues to impress, with strong poly-metallic mineralisation occurring in an easterly dipping, north-south trending mineralised domain ranging from 8m to 39m in true thickness.

On top of that – or more accurately, underneath it – high-grade copper mineralisation has recently been intersected immediately beneath the high-grade poly-metallic Zn-Pb-Cu-Ag-Au mineralisation.

"Results from the initial scout drilling programme completed at the BKZ poly-metallic prospect have been extremely pleasing and have gone a long way towards both advancing the potential for another high-value standalone project in the immediate vicinity of our BFS stage BKM copper project, but also enhancing our belief that Asiamet's KSK Contract of Work has substantial exploration upside potential above and beyond the currently defined BKM copper resource,” said Peter Bird, Asiamet's chief executive officer.

“Following on from the success of our initial step-out exploration we are now moving to commence scout drilling at the Beruang Kanan West (BKW) prospect, which although returning historical high-grade copper in rock and soil samples, has never been drilled to date. We are excited by the potential of the BKW area and looking forward to drill testing another of the multiple highly prospective exploration targets identified within the wider KSK District," he added.

Shares in Asiamet were up 1.8% in afternoon trading in London.

[bobby1904] 01/11/2017 16:22

I'd love to know what today's sellers are going to reinvest in? How could they find a better opportunity than ARS right now? If they think they can buy back in here much cheaper they are going to get a shock, as it won't happen.

[highly geared] 01/11/2017 16:21

Forgot to add; timing on Beutong is anyones guess but it could be tomorrow and then it's getting in under 10-12p that might be a problem. Not one to trade.

[highly geared] 01/11/2017 16:18

In summary, an outdated ( to be upgraded) PEA on BKM worth c 3x current market cap on NPV basis, several areas of potential equal or greater magnitude in the vicinity of BKM and Beutong which, if/ when it converts to a production license, adds multiples to the current valuation. A top BOD who've done it before and a multi year copper supply deficit taking shape. Add in regular newsflow into the BFS completion on BKM and financing, hopefully in Q1 2018 and it's hard to find a better share to be invested in.

[bobby1904] 01/11/2017 16:06

Charles Clore you are 100% right. ARS has become one of the potential top stocks on AIM. Every serious investor should hold some and take at least a 12 month view. If they do I really feel they will see at least 5x their money from here on! Patience is all that's required

[horneblower] 01/11/2017 15:50

A beautiful chart with rising highs and lows in a bullish 'pennant' pattern strongly suggesting a further, sudden rise to over 10p shortly (imo).

[mr roper] 01/11/2017 15:50

mkt cap..55m...when does the rerating start? Should be x2 or 3 just now.

[mr roper] 01/11/2017 15:33

don't forget bkw, bks, bkm metallurgy, mav... all in the post...!

[maverick247] 01/11/2017 15:29

10p next stop land beutong all bets off then of course bfs lands can this hit my 15p end of year target?Look at bky chart for whats coming here

[charles clore] 01/11/2017 13:23

I am pretty certain that some people have their finger poised over the sell button waiting for news. This is not a stock to play with in that way as it could suddenly take a large leap upwards and leave the sell on news profit takers stranded. Having said that, they would say a profit is a profit no doubt. One of my other revered stocks I just wouldn't trade is HUM.

[mount teide] 01/11/2017 12:56

'Visible massive sulphide or vein style mineralisation has been intersected in thirteen of the fourteen holes drilled to date over an area of 225m x 100m. The deposit remains open in multiple directions.

BKZ continues to impress, with strong polymetallic mineralisation occurring in an easterly dipping, N-S trending mineralised domain ranging from 8m to 39m in true thickness.'

Not too shabby - that's the size of 5 Wembley football pitches in area and, ranging from a 3 storey to 15 storey block of flats in thickness.