Asiamet Resources Share Discussion Threads

[charles clore] 18/10/2018 16:58

Mr R - you mean shouldn't, surely? I think the price will gravitate around 8p until further good news.

[mr roper] 18/10/2018 16:53

There's a credibility gap now. Can't help thinking they should have been fannying around with Caribe copper when there is a big enough job to do here.

[cyberbub] 18/10/2018 16:51

If they thought they might have needed another few mill, why not raise it in the last placing, which was well supported?That sort of mistake (not giving themselves enough cash runway/headroom) is what I associate with half-baked minnows, not the experienced BOD here.After thinking further about it, I think the long term prospects are pretty much the same as before.* The copper at KSK is still there.* The copper price is still likely to be much higher in the medium term.* A 5-10% dilution (if that's all that's needed) is small in the scheme of things.* There is query over Beutong, but the reassurance over the clear legality of the company's position is good - and this asset wasn't priced in anyway.But the risks have certainly gone up now.And we face a frustrating wait.If we find some stability around these levels, and continue to get (generally) positive news, I may well top up.GLA NAI

[mr roper] 18/10/2018 16:50

Can't be that disgusted with a 6 bagger from a penny surely

[mick117] 18/10/2018 16:49

I'm shocked and disgusted I've pulled out and simply won't be returning held since they were a penny

[ayesha4] 18/10/2018 16:47

I am simply in shock. Having held a near million at near 10p average for months and months - they have given us this. Was looking forward to BFS giving us 15p a share - I just cant believe they have done this or quite frankly how utterly clueless they are in PR

[the deacon] 18/10/2018 16:46

Similar to BKY on that issue

[mr roper] 18/10/2018 16:39

That much is true

[highly geared] 18/10/2018 16:35

Well, we needed a high volume day to clear the seller out!
Didn’t quite have this in mind!!!

[temmujin] 18/10/2018 16:35

closed my short...bought back in 6.3p...nice

[mr roper] 18/10/2018 16:34

They can't buy. Pretty clear to a blind dog that cash is required, 20 drills on bkm, where's the money tree? and they've royally screwed themselves with poor management

[cyberbub] 18/10/2018 16:34

Agreed HG. A 1M-2M buy by each director (they can certainly afford it) would be a good show of support here.Very very frustrating.

[cpap man] 18/10/2018 16:34

After hours RNS from BED - a profits warning

[europa79] 18/10/2018 16:33

Flyb yesterday, Ars today
I'm cursed
Think I'll just stay in bed tomorrow

[cpap man] 18/10/2018 16:33

ARS money might be headed to other Optiva stocks especially EML & UOG?!?!?

Also to TSXv:CUC where Mr S Hughes et al from ARS landed up recently!?!?!

[highly geared] 18/10/2018 16:31

Very good post Tektonik.
The best way for the board to restore faith will be to go and buy a few million shares in the open market and RNS it. Cheap options will simply rub salt in the wounds.

[jailbird] 18/10/2018 16:27

Brave or foolish to buy now?

I would not buy at under 10p now...The whole project is delayed now, not just BFS, reasons maybe valid for the BoD though...many factors like copper price/funding/off takes etc........ Dilution is inevitable now.

[v11slr] 18/10/2018 16:25

Anyone long on margin will have been forced out today or have to come up with more collateral.

[john henry] 18/10/2018 16:24

Markets certainly sniffed out a placing.

[highly geared] 18/10/2018 16:23

The one solace is the BOD are paid in shares/ options so hopefully highly motivated to sort this out.
Alternatively if BHP offer 20p for the lot we can take it and put us out of our misery.

Assets
Timing
Management (X)

[calabrian] 18/10/2018 16:21

Been watching and learning since last Christmas. So glad I didnt purchase. Have learnt a lot about herd mentality and denial. Why dont / cant people think for themselves anymore?

[tektonik] 18/10/2018 16:21

Definitely a setback delaying the BFS to conduct more drilling and a shocking response reflected in the shareprice, compounded by a viral reaction towards a protest against Asiamet's Beutong partner. I'm struggling with a few of my thoughts on all of today's events:

BKM BFS:

a) Additional drilling to further enhance the BFS would have been an option on the table a long long a time ago, something has clearly occurred recently or new information has in eleventh hour that's informed this decision. I believe 4 weeks ago this probably wasn't the likely route that would be taken, otherwise they would have stated the BFS would take another 6 months then.
b) The unfortunate timing of the recent market wobble has had a materially negative impact on the business case outlined in the BFS for funding that *would* have been delivered weeks ago but ran late sewing up the loose ends
c) Linked to b), the company expects the copper price to be higher in 6 months time anyway, fundamentals of BKM can therefore be enhanced by more drilling during this period - moving as close to a measured resource as possible and creating a win-win situation in the long run. Tony mentioned that people are never generous during funding stages on the podcast and perhaps recent funding conversations have forced their hand to expand the BKM resource profile before committing to the BFS?

Beutong/legal issues:

a) Very confused by all of this still and the actual role played as part of the sell off. Will certainly be monitoring this going forward though to protect my own interests. Reassuring to an extent it has formally been addressed by the company. b) The fact it wasn't even mentioned on the podcast leads me to believe that the news of the BFS 'rethink' has caused the majority of the reduction we've seen today.
c) The facts are that the Beutong IUP licence is in hand, we own 80% and the company have conducted themselves professionally throughout this process with no issue. There will always be a dis-linking to this industry, but if there's one thing I'd stress is that this company has worked much more closely with local people and acknowledges its importance much much more than a lot of other miners.
d) Another fantastic drill RNS I might add, although I need a strategy to tackle this deposit - the podcast made me feel that they don't have this yet, but will come in time

The board:

a) Communication has been poor for big ticket news releases, going back to the acquisition of the Beutong production licence that was supposed to land roughly a year ago. That saga dragged out for months and the share price took a hit. When the licence was awarded it had an immaterial impact on the share price. The board could have handled all three of the news releases today in a much more appropriate fashion
b) I have mixed feelings at this stage. I have no doubt that TM and PB will deliver these projects to a good standard, but slightly concerned where this leaves us today. I'm glad that they have been cautious on the BKM BFS but at the same quite time frustrated. They are still definitely the men to deliver these projects to production.

My position:

a) I will be holding on tightly to my shares as I have done since the 4p days and more recently going in big sub 10p. The fundamentals are still irrefutable and incredible - Beutong was never priced at 10p or 14p so very disappointed that we're down as much as 30%. I think this is compounded by all of the recent events and trade war nonsense that has seen ARS in a steady trickle down from the 14p heights and people generally having a low patience threshold. But I believe the board needs to manage the market to maximise shareholder value
b) I don't have anything to hand to top up at this stage, but think we'll see more buyers in the next few working days to pull us back up slightly, but feel we may be around these levels for the foreseeable future
c) This should serve as a good example for all investors to diversify their investments as the unexpected has a habit of presenting itself when it wishes. Wishing all holders to keep the faith and always do your research.

[mr roper] 18/10/2018 16:19

Charles, never thought I'd be selling at 8p instead of buying.