So after FS2 they have spent 16 months confirming that no one is interested in financing the project. No lead bank, nothing. Who could have foreseen this? |
Personally next year for financing imho, best to get everything sorted and get good terms innit. Waiting is good for the soul, like pain from stretching feels extremely uncomfortable then absolutely amazing...entirely my personal and humble opinion! |
If they can get lime from up the road instead of shipping it from Surabaya then trucking it 400 odd klicks...... absolute win winner steroids! Great news hopefully drilling at Rinjin soon !!! |
Good update that - in isolation.
Sadly the elephants in the room remain in that we don’t know how long the work will take or the likelihood of getting finance when we do complete it. Plus the fact we’ll need funding which I suspect will be sorted in the next 6 weeks. |
Patience all that is required here imho. Not everyone has the minerals tho. |
That’s fortunate. I hope anyone who listened to you describe how good an investment this was whilst you drip fed Telegram propaganda here is equally fortunate. |
As I've said many times andrew, I've put a large sum in this and if it comes right, I make an absolute fortune. If it doesn't, I move on, it won't change my life and my kids will still be fine. Life's a gamble, and sure as he'll aim market is. |
@Dorset - quotation marks “ “ are best saved for things people have actually said, rather than the things you’d rather argue against.
Asiamet won’t take this to production imo. In which case the investment case will presumably to be to sell that asset? Leaving what?
Unlucky Dorset, you got played like the rest of us. |
No such thing as Twitter. Keep up. |
Yeah I probably had in mind you, Dorset, and the fake twitter account of Drew as the main bellends who won’t hear a word against the prospects here. |
What kind of offer do you envisage? Bearing in mind you consider Asiamet management to be, and I quote, sewer rats? |
 Dorset
Whilst you are correct in what you say and what should be contained in the next RNS - should one ever actually appear - it is very clear that no timescales or plan are going to be forthcoming.
We are now at the stage where cash cover is going to being measured in weeks as opposed to months and absolutely everyone with any sort of interest / involvement in this mess is going to be well aware of that fact and that, yet again, the idiot has backed Asiamet into the weakest corner position possible. This can no longer be viewed as "unfortunate" - it is deliberate.
The most likely content of a next RNS, likely mid the late September will be along the lines of:
"We are very sorry and genuinely worked tirelessly to explore every single option but now feel that it is the best interests of shareholders to accept this offer form DOID for 100% of the share capital of Asiamet. There have been many factors out of our control that have resulted in our inability to secure suitable financing to take our initial project through to production as we had intended " - or some weaselly wording that basically conveys the same message.
Let's see.
I would be delighted if this were not to be the case but these idiots have become predictable to the point of tedium at this stage. |
So you don't believe Golden Grove and BKZ are similar deposits, Kiddo? Shouldn't you be worrying about your armed soldier protected play in Ethiopia....ROFLMFAO |
It is quite nice that you still believe the words of Tony. Oops, spelling mistake - naive I meant :-D |
Tony talks about the polymetallic deposit Golden Grove in his excellent BKZ presentation from 2022, basically comparing Golden Grove and BKZ " One I've worked very extensively on in Australia called Golden Grove" basically saying Golden Grove started out at what BKZ is today, and has been mined continuously for 30 years and will go for 50 years. Those are Maninis words..... these polymetallic can be mined profitably for ages! Potentially BKZ could be a 50 year mine!So DOID have BKZ and now they've just bought in to Golden Grove as well? Maybe they like polymetallic ore bodies!All imho dyor! |
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! |
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