Asiamet Resources Share Discussion Threads

[mr roper] 18/10/2018 16:18

Hg, if laurel and Hardy were in charge fair enough but the bods track record is there to mitigate shambles like this. On another note wtf can't they issue an rns at 7am like a proper company?

[highly geared] 18/10/2018 16:15

Mr R. I think the issue is that what they’ve drilled over the last 2-3 years was presumably thought to be sufficient but it’s only at the 11th hour when all the technical stuff has come in from the consultants and been pulled together that the outputs give something that isn’t good enough to go to funders with. It therefore probably goes back months when Steve Hughes was doing the delineation drilling and the updated Jorc resource.

The only other explanation is that they’ve approached funders but with copper at $2.75 rather than $3.25 , funders want more inferred moving up to indicated or measured to provide a larger inventory and greater certainty on overall mine life.

But it beggars belief it’s taken until now to discover this...

[ianbag] 18/10/2018 16:15

If Liberum believe it is the protest & social media noise issue rather than a credibility surrounding non delivery of the BFS in line with guidance then they are not in tune with the shareholders for sure.

[charles clore] 18/10/2018 16:14

Mr R - if I could have sold my entire holding earlier today I would have done. I couldn't get a quote and was only allowed to sell half. By the time I looked again it had dropped too far so I decided to just sit on the rest until better days. I don't think it's the end for ARS but imho we might see a hostile bid if the price goes much lower. I don't think JP Morgan will be too happy about things either...

[ianbag] 18/10/2018 16:12

Better not issue themselves a stack of options down at this share price - that would compound the very bad form that has been displayed.

[bmcb5] 18/10/2018 16:09

Has it all gone wayward since Stephen Hughes left? I had only recently bought in when he left, but I got the impression he was a big reason for the high quality operation

[mr roper] 18/10/2018 16:09

Indonesian election next year, I was hoping finance would be sorted before politicians start battering mine companies as part of the election chat but that is doubtful now

[zho] 18/10/2018 16:09

Liberum suggested the reports of the protests were responsible for the poor share price performance today.

The broker, which rates the shares a ‘buy’, reckons Asiamet will require additional funding to complete the BFS at BKM.

“As such dilution is expected, but whether this comes at an asset or company level is unknown and size is likely to be small – less than US$5mlnm (less than 5%),” said Liberum, which is joint-broker to the company.

[mr roper] 18/10/2018 16:08

Ps sold 80% of holding earlier. My confidence ratio in the bod has dropped by the same amount. Wtf is the PR director doing?

[knobbly] 18/10/2018 16:03

Directors have been paid in options/shares over the last three years.
My only solace is that they must be hurting as well.

[the deacon] 18/10/2018 16:02

Imo, this could be the reason the BFS is 'delayed'..

[highly geared] 18/10/2018 16:00

Couldn’t have put it better myself. The market is hammering the price as the very competence of management to deliver the BKM BFS is now in question and if they cannot do it then it won’t be financed ergo no value other than an asset sale.

Logically we had the PEA with $204 million NPV but it’s hard to rely on that now as after a year or more of progressing the BFS, what’s come back has thrown into question the robustness of the project. It’s a complete mess on the face of it and we won’t know if it’s going to be sorted out for 6 months. In the meantime our biggest asset now has a cloud over it which the market will read negatively what with the BKM release. It’s all about trust...

[the deacon] 18/10/2018 16:00

Let's be honest. If the likes of PERE can't get secure finance for a producing copper mine in the safe jurisdiction of Canada, what does that say for the chances of ARS in Indonesia? Long term copper outlook is fantastic imo, but this short term weakness is hitting ompanies hard

[bmcb5] 18/10/2018 15:58

Can't quite believe that fall. I've bought half of my position back at 6.9p. Time will tell whether that was brave or foolish

[cpap man] 18/10/2018 15:58

Back to the 4.3p placing price?

[dsqjei] 18/10/2018 15:55

I first bought in at this price exactly a year ago. Give or take a few weeks

[jackbal] 18/10/2018 15:55

Charles, yes it’s a bit fishy isn’t it. They can’t be feeling too happy about the strategy to delay considering the value lost today.

Maybe they knew that they wouldn’t get finance with the current copper price so had no choice?

[gcpinc] 18/10/2018 15:52

Looking at the chart next stop might be 5p !

[fireplace22] 18/10/2018 15:44

The twitter article has certainly allowed any potential placee to get in at a much lower price now.

[uapatel] 18/10/2018 15:43

Well wasn't expecting this by any stretch. Will just have to sit tight and ride this out.

Too annoyed to say anything positive from the podcast.