Asiamet Resources Share Discussion Threads

[okidokicoki] 11/11/2018 15:04

Don't forget that in that time hopefully the copper price will be in a better place also as it can't stay down here much longer . I think the management did the correct thing delaying the BFS and was it missed in the delayed BFS RNS "Patrick Creenaune, formerly Chief Geologist with Australia's largest gold producer Newcrest Mining, has recently joined our exploration team in a senior consulting capacity and is working together with Asiamet's exploration manager Bowo Kusnanto, to prioritise a series of targets for testing over the coming months." Is this a hint that maybe Newcrest just want to see a little bit more before becoming a JV . HZM did themselves no favours sending out a BFS with good numbers in a bad metal price market.

[aim0raider] 10/11/2018 14:33

Mrpiggy, exactly that. The copper didn't suddenly disappear, nor did the grades decline, nor did it become 'un-leachable' over night etc etc.

We have a delay and a need to redesign the pit and drill a mere 20 holes (short ones) to adjust the base case. We'll drill a few more holes outside the pit and add some more copper into the frame while we are at it. So in theory, for the sake of 4 to 6 months we'll have an even better BFS.

Within this time, we'll get regular reminders in the form of drill results, that re-cap just how good an area KSK is. We might even get a JV on Beutong along the way.

[jackbal] 10/11/2018 14:22

I’ve been on advfn over 10 years and frequently use the phrase good luck all.

Sorry Mr P. I don’t answer silly questions.

If I was sh@tting myself I would sell the rest of my holding.

Nobody should gamble money they can’t afford to lose but if I lose the rest so be it.

It would be naive not to even consider the possibility of worst case scenario

[jackbal] 09/11/2018 12:56

Hi Rabbitman, also telling myself that even if positive drilling results are sold into we may well get share price rise whilst the drills are turning. Here’s hoping....

Good luck all

[rabbitman2] 09/11/2018 11:44

Jackbal, I agree too much in the portfolio and once activity begins again at BKM we should see a lot of interest again

[glenalmond] 09/11/2018 11:35

Selamat jalan, David.

Settlement system playing it's usual games of reporting buys as sells again today, I notice.

Not all of those 5.825p "sells" are sells.

[billyrayvalentine] 09/11/2018 11:11

...DSQJei, have you sold again to buy back a little bit cheaper?

[monttim] 09/11/2018 10:51

Unfortunately David, credibility nil. No need to broadcast you love a stock, then tell all how many you have bought at what price , then say you are out , no cred.

[jackbal] 09/11/2018 10:49

Problem with going by official RNS is that by the time bad news is confirmed it’s often too late.

Going to stick with holding I have left, all or nothing/sh@t or bust. Sure I heard Warren Buffett say that somewhere!

I would feel a lot worse seeing this go to 20p and losing approx 250% from this level than seeing it fail and losing 100% from here.

Although beutong is obviously a game changer I believe there is enough in the rest of the asset portfolio to make an investment case minus beutong if worse comes to worse.

These articles do make me nervous and with a market cap of sub 60 million now perhaps this nervousness/uncertainty combined with current copper price is already priced in?

Fingers crossed (again)

[maverick247] 09/11/2018 10:19

Agree go by official RNS and not potentially fake newsAt current levels ARS is a gift and I have been adding to sipp

[zho] 09/11/2018 10:07

>>Short love affair David>>

Yep.

davidspringback, 7th November:

"I've been buying in the 6-7p range and have accumulated 200,000.... Cheap as chips. Back up the truck."

[buildit1] 09/11/2018 10:06

Short love affair David

[davidspringbank] 09/11/2018 09:56

I'm out.

GLA

[aim0raider] 09/11/2018 08:20

Based on what I've seen/heard, I'm taking those articles as pre-fabricated BS.

At this stage i'm sticking with the facts that ARS carried out extensive DD on Beutong and worked in conjunction with the Gov and MoM to obtain the licence.

I guess with something of Beutong's size and value, there's always going to be something niggling every once in a while.

[rabbitman2] 08/11/2018 23:47

I’ve spoken to the IR guy who called me back immediately and who says that they are aware of this and they are quite surprised as they’ve never even been involved in any such case, have not been contacted by any of these regional bodies, have reaffirmed their licences with the ministry and central government and quite crucially for me they had NEVER even heard of the PTMM representatives quoted in the article - they also said that their external relations person is called Zsa Zsa and based in Jakarta and not the guy named in this article who has no relation to the company.

Also that quite bizarre and a bit of a nuisance they think prompted by run-up to local elections and some local posturing against central government by Achenese elements who want more devolution

[buildit1] 08/11/2018 23:24

The case has been thrown out. Theres ur answer

[cyberbub] 08/11/2018 23:21

I don't read it that way at all DSQ, unless the translation has gone very wrong.There are several very clear statements in the article about Aceh politicians claiming that the permit has been wrongly issued, no consultation, etc. And it clearly states that the permit/exploitation has been "rejected" and "revoked" by the local legislature. Whether they have the power to do that for a national permit I don't know.

[rabbitman2] 08/11/2018 22:21

Yep agreed, it's a good way for them to give some official guidance ahead of an RNS. I see it feeds through to their website too. They are on it and the music will continue for shareholders soon I guess (of which I am one now)

[buildit1] 08/11/2018 22:05

Give it a rest Mr R

[mr roper] 08/11/2018 22:00

Rns would be better than a 10bob tweet though.

[dsqjei] 08/11/2018 21:44

It says they will continue. Not cancel the permit. Cancel the case

[cyberbub] 08/11/2018 21:39

Can anyone clarify that 'Aceh Online' article please, in a nutshell? It looks to me like the local government has cancelled the permit? But is it ours? Sorry I'm having a bit of a senior moment. Thanks in advance.

[rabbitman2] 08/11/2018 20:29

Was reminded of the story earlier when I was a tweet from the company account. Looks like they may be updating soon upon their infill drilling programme

[rabbitman2] 08/11/2018 20:20

hxxps://www.mining-technology.com/news/oz-minerals-closes-323-2m-avanco-resources-takeover/

OZ Minerals closes $323.2m Avanco Resources takeover

Australia- based mining company OZ Minerals, through its Brazilian subsidiary, has closed the compulsory acquisition of all the outstanding shares in Avanco Resources, in a deal valued at A$418m ($323.2m).

The compulsory acquisition comes after acceptances for OZ Minerals’ offer for Avanco exceeded 90% in June this year.

“We are excited about acquiring Avanco as it is aligned to our multi-asset, province-focused growth strategy.”
The company originally made the takeover bid in March this year, offering A$0.085 in cash and 0.009 shares to Avanco shareholders for each share held by them in Avanco.

Following the completion of the transaction, OZ Minerals now owns 100% of the shares in Avanco.

When the acceptances for the offer reached 90.46%, the company began the compulsory acquisition process for the remaining 9.54% of shares from shareholders who did not accept the bid.

The transaction will allow OZ Minerals access to seven mines in the next six years, including Prominent Hill, Carrapateena, West Musgrave, Antas, CentroGold, Pedra Branca and Pantera.

Besides, the company will have strategic presence in the Carajás copper province and Gurupi gold belt in Brazil.

At the time of making the offer in March, OZ Minerals chief executive Andrew Cole said: “We are excited about acquiring Avanco as it is aligned to our multi-asset, province-focused growth strategy.

“Not only does it immediately contribute copper tonnes to our production profile, it offers significant additional new growth options and a meaningful footprint in the highly prospective Carajás province as well as the Gurupi greenstone gold belt in Brazil.”

The Carajás province has a large concentration of high tonnage iron oxide copper gold (IOCG) deposits.

Avanco has a land holding of around 1,800km², which represents the second largest holding in the region, and a mineral resource base of more than 1Mt contained copper.

OZ Minerals operates in Australia and abroad, with some of the projects including the Prominent Hill and Carrapateena copper-gold mining operations in South Australia and the West Musgrave undeveloped copper nickel deposit.