 Article from www.idnfinancials.comDOID quietly collects 5.07% of Australia-based 29MetalsAug 9, 2024 11:13 AM?DOID - PT. Delta Dunia Makmur TbkRp 705+5(+0,71%)More Info!JAKARTA. PT Bukit Makmur Mandiri Utama (BUMA), one of subsidiaries of PT Delta Dunia Makmur Tbk (DOID), has acquired 36.51 million shares or 5.07% of 29Metals, a copper and precious metal mining company based in Australia.Said shares acquisition is initiated by BUMA through 2 of its subsidiaries, BUMA Australia Pty. Ltd. and Bukit Makmur Mandiri Utama Pte. Ltd. (BUMA SG). The shares were purchased in a transaction bit by bit through Australia Stock Exchange (ASX)."This transaction is a testament of commitment of the company to continue the diversification of its products and accelerate the company's strategies as a group towards global energy transition," said Iwan Fuad Salim, Director of DOID, in the official statement.It is worth mentioning that 29Metals recorded owning long-term productive assets called Golden Grove in West Australia. In addition, this company is also in possession of an asset called Capricorn Copper in Queensland, as well as Redhill in Chile.According to IDNFinancials data, DOID reported total assets of USD 1.65 billion as of June 30, 2024, with cash and cash equivalent of USD 246.97 million. Meanwhile, total equity was seen at USD 247.20 millio |
Rexline have put an piece about Asiamet on their website www.rexlineengineering.comCool !By Md Nasirujjaman Shimul August 7, 2024 Construction, RexlineAsiamet Resources Ltd (AIM:ARS, OTC:KMGLF) has taken significant steps forward in the development of the BKM copper project by securing early partnerships with its preferred project execution partners.The appointments of PT Rexline Engineering Indonesia and Beijing Research Institute of Mining and Metallurgy (BGRIMM) are aimed at optimising project integration and ensuring accuracy in cost estimation.Chief executive Darryn McClelland said the company's approach to project execution for BKM has "evolved", taking into consideration feedback from the independent technical expert (ITE) as well as the 2023 feasibility study.PT Rexline will work on the comprehensive engineering design of materials handling and non-process related infrastructure, providing cost estimation for all construction execution excluding scope related to project bulk earthworks and mine operations.BGRIMM has been engaged to deliver engineering for the solvent extraction, electrowinning, water treatment (SX-EW) and reagent preparation process infrastructure, with the collaboration aiming to build on the past successful partnership in the update of the feasibility study.Optimisation efforts for BKM include the proposed improvement of the heap leach facility location and detailed modeling of a new facility layout.McClelland said: "Effective project execution in the mining industry remains a priority focus and it is essential that we advance the BKM project in a manner that optimises management of risk for all stakeholders."Involving EPC partners early significantly reduces project execution risk and aligns with key requirements outlined in the ITE feedback during the debt financing process."He said news on the engagement of a project earthworks contractor will also be provided in due course"The positive trajectory of copper prices and growing market optimism regarding copper's supply/demand dynamics underscore the strategic significance and inherent value of our assets."Our advanced projects and high-quality JORC-compliant copper resources at both projects are attracting significant inbound interest, and with the mobilisation of execution partners the BKM copper cathode project takes a further step towards financing and production."Shareholders should expect further updates as our efforts intensify." |
This is from 25 June RNS:'The Company's engagement with Rexline Engineering and BGRIMM is advancing engineering design on the basis of the optimised BKM Copper Project plan, following completion of which updated cost estimates will be delivered. Further announcements will be made in due course.'So if Rexline and BGRIMM give costs, what about the earthworks contractor and the power plant supplier and the mining services contractor and the agreement for shared road use for the permit! I'm guessing they've been working on all this in order to get financed. But what do I know......nothing!All imho dyor! |
I would say to wait for the numbers to come in the next RNS, and to evaluate their progress then.Could it be that with all the numbers in and a clearer sight of the irr/capex/opex that submission to finance is the next step but, if not, then the board do have many questions to answer.I would hope, ney expect him to also clearly & definitively map out with timelines the map to mine construction & production.Not long to wait now so let's see what it says. |
Maybe I'm an idiot, but why would Mclelland do that and ruin his reputation?He openly stated that becoming CEO of a junior was "the next evolution of my career "Reputation is everything in the junior space, why would he trash it on his first rodeo?Looking back at his first interview he talked of personal growth and how he worked his way up from operations manager to general manager, resulting in running a mine producing around circa 350,000 oz of gold per year!He talked of the thrill and sense of achievement of standing on a greenfield site and turning it into a producing operation.Personally I think the delays are out of management hands - but I could be wrong - and I welcome all opinions without resorting to the standard; troll, keyword warrior, pond life and de ramper.....ROFLMFAO All imho dyor! |
Got the money from the last raise and now shut up shop for the next 6 months as usual. |
Possible Fed rate cut next month? Any armchair economic legends out there? |
It’s pretty obvious there’s nothing getting built by Asiamet. Let’s be super optimistic and say they got all funding agreed (for the yet announced FS part3) by the end of the year.
That needs 2 years building and then a period of payback to the banks / offtakers / whoever else fronts the cash.
In that time we’ll have our usual expenditure which seems to be around $4m a year. So how many more waves dilution are required? Fair enough IF they do indeed manage to do what they’ve not managed since the (better) 2019 FS and get funding, a raise should be on much better terms, but either way the returns to shareholders are ever diminishing.
People must honestly be stupid if they think DOID are here just as a passive shareholder here to buy and sell shares - they have a plan and will pick us off whenever they like and reap the rewards of KSK. Beutong belongs in the bin for now but I suppose things can change.
I retain a price target of 2p to exit with a loss and a lesson. |
It's completely baffling on every level! It's either a goer or It's not. Time to tell us. |
I’m surprised there’s not more chat here, perhaps they’ve bored us all into submission?! A corporate presentation would be amusing - best I can tell the plan is complete a 3rd FS and then go back to the banks who have so far single fingered us at every turn. We’ve also got the annual $4m costs to cover so presumably anytime now we’ll get the news of DOIDs latest “show of support” by taking another 10-15% for f’all, ahead of their inevitable take over.
Just comedy watching them string everyone along at this point. |
Asiamet are normally good at putting out corporate presentations roughly every 4 months or so, but haven't released one since last October/November, with the last CEO interview last December! Perhaps working something in the background? Good or bad, perhaps we'll hopefully and maybe find out within this decade!How would you rate Mclelland so far? Ten out of ten for missed deadlines, and a solid 9 for radio silence is my assessment ! AIM doing AIM tings innit. |
hxxps://audioboom.com/posts/8544419-sunday-roast-featuring-charles-archer-long-term-ftse-aim-investor-and-freelance-financial-analys
From 45:52 |
Realistically there is absolutely no value to this app, probably why most have left. Posters have minimal knowledge of the sectors they talk of, absolute planks a round! |
For the record, I personally have never had any contact with the company, and they most certainly don't pay me to post on advfn!So I'd tred carefully here, kiddo..... |
Folks having a baby over the copper price which is up circa 56% over the last five years....ROFLMFAO Check your times frames mofos |
Far East Gold putting out some nice gold assays from their project near Beutong - 30m @ 7.57 g/t Au with 3.3m @ 31.64 g/t Au. Easy to see why Barrick had it ranked as a top target.Also Merdeka copper and gold released a FS on a really nice 6.7 Moz gold project on the next island across from Kalimantan, with an AISC of just $872 oz.Such a prospective area of the world imho, just fantastic rocks!A imho dyor! |
II, get the same dose they offered me on an ENET thread at the start of 2022. Works wonders |
Good discussion on Crux the other day regarding mine development and "the Valley of death" otherwise known as the development stage of the Lassonde curve.The wait in the valley of death is getting longer and more drawn out folks. You have to be well hard to survive it imho.Arguably Asiamet have been in the valley since the exploration excitement of 2018, circa 6 years in the valley of death already.All imho dyor! |
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