D64 - Over the last 2-3 years the management and DOID have been acting like they own the company by acting in their own best interests.
Sadly, for the owners of the rest of the shares the limp market reaction to today's mid morning RNS was entirely predictable, presumably because it had all the hallmarks of Asia Met's third rate management preparing them for yet another cash raise from DOID, by throwing them a small bone.
Such is the level of distrust of the management after destroying so much shareholder value over the last 5 years, the market reaction probably came as no surprise to most, as evidenced by the transaction volume.
I fear the management and DOID are positioning themselves to mutually benefit from the future of Asia Met largely at their other shareholders expense.
AIMHO/DYOR |
If you think twitter exists you are the idiot . |
@dorset
Sure, please let me know your twitter (x) handle and name and we’ll take it from there.
You can private message it.
Alternatively you can comment on the prospects here rather than calling people who dare to give a view idiots.
I suspect you’ll take a leaf out of the companies book and go mute for a bit now. At least they’ve not been milked like a mug like you have |
CEO comment from today:"It is particularly exciting that these material savings will not only reduce overall funding requirements but also enhance our ability to secure favourable financing terms"I believe our excellent CEO is doing his best and working his socks off to secure good financing terms.Plus, hopefully a cool little limestone quarry close to site and a biomass mass power plant is on the cards.I'm taking a break from this forum and will be back in the new year, hopefully with a new school lesson for you, kiddo!Toodle pip and all the best! |
MT look now at the irr, capital savings of capex likely to be circa $50m+, and a mine life of 12-13 years.This is only the starter project, i.e., to get it off the ground with all of the other areas utilising this BKM's infrastructure to one degree or another. |
Andrew, you do make me laugh with your nonsense.You should take a read of the wider social media to see what I think and say about Asiamet as, your belief that I'm some sort of puppet for asiamet is just about as ridiculous as your website. |
Call it what you want mate. Excise it all you want.
But like the other cheerleaders you’re unable to offer any constructive narrative as to how this makes shareholders money. |
Additionally, I wouldn't even call the 2023 a full feasibility I would say it's a half done full bankable feasibility lol but that's just my humble opinion. |
Plus, 2019 was like so 2019. A totally different world on steroids.BKM is not an exceptional project. If it was it would be financed by now. It is a starter project (location etc) and everything has to be perfect.But there very well could be exceptional projects on the contract of work, and BKZ isn't looking too shabby. In fact, it's looking a lot like Golden Grove!All imho! |
I think you're comparing essentially a pre feasibility study with a full feasibility, done four years apart, with a once in a hundred year pandemic and once in 50 year war in between them, but crack on kiddoAll imho! |
You’re wasting your time MT, he’s balls deep so will just regurgitate whatever he’s fed by the Telegram lads. |
 D64
Feasibility Studies 2019-2025 - Project Capital Costs (excluding contingencies and before adjustment for inflation):
$192m - 2019 FS-1 - 9.1 year mine life with up to 25ktpa of copper cathode
$208m - 2023 FS-2 - 9.2 year mine life with up to 20ktpa of copper-cathode
Ore and Waste Mined
135m tonnes - 2019 FS - 1.41:1 Strip Ratio
91m tonnes - 2023 FS - 1.37:1 Strip Ratio
Total Proved and Probable Ore Reserves
51.5Mt @ 0.6% Cu for 303kt of contained copper - 2019
40.8Mt @ 0.7% Cu for 270kt of contained copper - 2023
19.5% - 2019 IRR
21.0% - 2023 IRR
'Adopting a higher grade, lower strip ratio mine design will require a smaller mining fleet and workforce leading to notable reductions in infrastructure costs.' DM in today's RNS
Well, the Capital Costs went up by 8% NOT down by adopting a higher grade, lower strip ratio design in 2023 for a very modest improvement in the IRR!
How can the huge additional cost of mining 44m tonnes(48.3%) more ore and waste over the life of the mine in the 2019 FS result in such a small difference in the respective IRR's?
Asia Met RNS - rarely fail to generate more questions than answers ! |
Mount Teide, in reply to your 'analysis' you can't simply compare the previous bfs cathode & prices and mine life without firstly understanding what they told you. For instance you have excluded to understand the reduction in size, reduction in mined material which in turn gives a higher irr and mine life. I'm all for considered debate but at least firstly understand the ethos of what your writing. |
I think they do understand about the share price but have given up by now and just take the fat salary and hope like we do that a miracle will occur. |
I often wonder whether directors of listed companies understand why shareholders invest. For the vast majority, the only reasons would be income or capital appreciation. Many directors seem to think they are doing a good job when the business seems to be progressing from their perspective, but the share price is in a downtrend or even at rock bottom levels (with no sign of any improvement), and there is yet to be any income on the horizon for shareholders. Sadly, I am invested in a number of such companies where extravagant promises have yet to materialize. In one such company (not Asiamet)they have a number of KPI's, all but one showing positive outcomes in the Annual Report, and the shareholders are uniformly negative about the company. The one showing a major negative divergence is, as expected, the share price, and the directors can't seem to understand why shareholders are unhappy.
The other thing that directors don't seem to understand, is that dilution, especially capital raising at a large discount, has a significant negative effect on the share price, both in the short and long term, as the existing asset value is now spread over a larger number of shares.
If I had invested last week for the first time, I would be quite happy with today's announcement. The main cloud on the horizon would be the prospect of a DOID supported raise, likely not too far in the future. It's a catch 22. No money = no progress = no company. On the other hand every dilutive event reduces my share of the company and takes me further from break even.
I'm still waiting for any sign that TM's comment that the company is potentially worth hundreds of millions, if not billions, is on the horizon. I suspect I will be waiting a very long time. |
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