Asiamet Resources Share Discussion Threads

[pyglet] 26/6/2018 11:32

horneblower
Many thanks again for your notes.

[mount teide] 26/6/2018 11:28

My thanks to all AGM attendees for the updates - much appreciated.

A previous commitment prevented my attendance so it was good to hear some first hand experience and feedback from fellow long term Asia Met investors.

[horneblower] 26/6/2018 11:02

Other things I remember from the AGM Q&A and subsequent conversations...

TM said that the important point to understand about the effect of electric vehicles on the demand for commodities is that copper is different to nearly all the other metals (I think he mentioned zinc, nickel, cobalt, graphite amongst others) in that copper is not battery dependant. It will be essential for electric motors, wiring looms, charging stations etc, whatever form of battery is used. If someone comes up with a new form of battery like silicon hydride (???) that is cheaper or better than the current offerings then suddenly the "EV" effect will divert to whatever is topical...but EV's will still need copper.

I asked him if the speed of developing BKM after publishing the BFS would be affected by what the copper price was doing. He said absolutely not. They would be getting on with it as quickly as they could. I asked if the BFS would be weeks or months and both Peter and TM vehemently denied that it would be months. I estimated from their reaction that we might expect it within three weeks.

[charles clore] 26/6/2018 10:34

If it breaks down through 10 it will probably hit 8. Either way it's a bargain!

[librayang0925] 26/6/2018 09:27

It is just a waiting game. When it goes, it will go quickly.

[mrpiggy] 26/6/2018 09:12

Sounds very plausible HB, if you remember back to May or June of last year we had a similar pattern of selling which seemed to go on an age, when I emailed TM he said it was investors profit taking which back then could have been a 5 or 6 bagger for the lucky few!

[mr roper] 26/6/2018 08:53

Would be great to have a couple of days when the share price actually went up lol

[zho] 26/6/2018 08:50

Thanks horneblower

I wonder if they do have an idea who it is and can't/won't say. After all, it's 15 weeks since the fundraising, 75 trading days, and I would guess that the seller had dumped something in the order of 4%-5% of the Company since then.

[horneblower] 26/6/2018 08:46

zho,
I asked TM about the identity of the persistent seller. He said he assumed there was a holder from the sub 2p days who was reducing his holding. He also knew of one investor who needed the money for something or other. He was unconcerned about both and said there would always be sellers and that it was a good thing from the point of view of the volume figures since most institutional investors would need a certain level of liquidity in the market before they considered a company.

He also said that he would like to add further II's and that it would become easier when we got above the £100m MCap, had greater volume (liquidity) and had more definitive data on Beutong due to its size.

(I do not take notes and am paraphrasing from my memory of snippets of more than one conversation I had with Tony so my apologies to TM if I have misrepresented him.)

[mr roper] 26/6/2018 08:43

Well, if the big drill is at 700m we’re probably looking at getting to 900m by July 4th so we should get the results first week in August if all goes to plan.

[librayang0925] 26/6/2018 08:41

Interesting question is we haven't had any RNS on holding, despite the vast quantity of shares sold. So are there multipolar sellers who have not reached their threshold or it is some sort of market manipulation, which I don't know quite well, hope anyone here knowledgeable could give some ideas.

[zho] 26/6/2018 08:19

kjawoogie and adorling,

Many thanks for your AGM notes.

Did anyone ask the board if they knew the identity of the persistent seller?

[mr roper] 26/6/2018 07:26

Could well be. He’s ex Newcrest and oxiana.

[kjawoogie] 26/6/2018 07:25

I also think this is the bloke Tony Mentioned was working with the company https://www.linkedin.com/in/patrick-creenaune-823b2438

[mr roper] 26/6/2018 07:20

Yes, Dominic looks to be a high calibration appointment. Tony and the team certainly do have a network of fantastic talent to call upon.

[mrpiggy] 26/6/2018 07:13

Great appointment!The board are now making preparations to build the mine at BKM once the finance is announced which should be in the next few weeks..... things are hotting up!Mr Heaton is a highly experienced mineral processing engineer with an extensive background in feasibility studies, project construction, plant commissioning and mine operations throughout South-east Asia. For seven years as the former CEO of Masan Resources he led the development and operations of the Nui Phao tungsten - polymetallic project in Vietnam, prior to which he was closely involved in the development and operation of the 60,000tpa Sepon leach SX-EW copper project in Laos and development of the large Martabe Gold Mine in Indonesia.

[kjawoogie] 25/6/2018 19:28

Thanks for the useful extra info. Gutted I didn't get to chat more with the team.

[knobbly] 25/6/2018 18:05

Also... good to meet horneblower (thread owner) who brought this company to my attention 2 1/2 years ago. Thanks!

[knobbly] 25/6/2018 18:03

Great AGM notes from Kevin - thanks.

A couple of further points that came out of a chat I had with TM after the AGM;

TM mentioned that there is around US $4 million left in the kitty, and no immediate fund raising needed.

TM mentioned that the current Beutong hole in progress is somewhere around 700m deep, and that it wasn't going to be "a very very deep hole"; I think that was in the context of his previous discussion on how expensive 2000m holes are to drill.

I asked whether Media Group would be putting their hands in their pocket to contribute towards finding, digging and refining their 20% of Beutong... TM said that once the decision to mine Beutong was made then MG would be paying their way. Though he did say that MG historically were happy with 5% ownership of their O&G ventures, and it was likely they would let their 20% slide in exchange for further necessary effort needed. I suggest to TM that Asiamet might be interested in raising their ownership further. He shrugged and said possibly, but in time we would still have to divest 51% to Indo ownership.

[mount teide] 25/6/2018 17:55

Trade war fears has not stopped the Chinese being record buyers in H1/2018 - last month they imported more copper concentrate than in any month since the early 2000's.

[walter walcarpets] 25/6/2018 17:51

ditto re notes from AGM fellas!

[sos100] 25/6/2018 17:51

He bought Churchill mining so he has emotional issues with anything RIO related..

[cyberbub] 25/6/2018 17:47

Copper price dropping on trade war fears?