MT as you know I said look at the huge monies put in by (the 3) management, Further increasing their existing Holdings. You again replied with just half a story that suits your current rhetoric, ie only stating the increasing sums added by DM & TM, but omitted to add Bruce.I say again, some $300,000 put in by existing management is no small sum, no matter how you seek to dismiss. A somewhat childish action on your part there MT. |
 D64 - with respect - 'Not one person mentions the vast monies paid by current directors buying more shares for themselves'
Manini and McClelland put in circa $50k and $25k respectively.
In Manini's case, never mind his Salary and Directors Fees, the subscription shares he bought cost significantly less than the Performance Incentive Bonus he trousered in 2022 and 2023 - lord knows for doing what? Source: Latest Annual Report
By any objective benchmark, to be raising more money at a 95% discount to the share-price some 5 years AFTER he told the market he was now going to change strategy and monetise the assets is totally unacceptable.
Since Manini became involved in the company he has been responsible for massively diluting shareholders investments by increasing the number of shares over 6 fold to 3 billion.....mostly, over the last 5 years to raise the cash to keep the lights on and him and his friends in the Melbourne Country Club lifestyles they have become accustomed to at their long suffering shareholders expense.
AIMHO/DYOR |
I'm sure you'll be able to buy below 0.77p in the not to distant future. |
I guess we’re all entitled to have a different view about the current position and progress in the last 12 months. I don’t place much weight in Director buys given their track record.
My logic on the retail offer is I don’t know where the interest is going to come from to buy at 0.77p when that price has been available for the last month with little interest. Not a biggie either way, just an opinion with rationale. |
Another piece of the puzzle put together and another step towards financing.Not one person mentions the vast monies paid by current directors buying more shares for themselves but, instead of noting where asiamet are as of today, prefer to find issues with everything going forward. I also expect the open funding to get filled too given we are so close now to seeing quantifiable progress on all fronts. |
The DOID comments (below) deserve a tip of the hat to their consistency :)
Joking aside it just highlights we’re a year and $4m on with no progress on financing beyond getting rejected at the first stage from the bank.
15th nov 23
“We continue to support Asiamet as it continues to advance the important BKM Copper project through the next stages of financing and engineering. Copper remains an important strategic metal and is central to the energy transition initiative. Our various teams are working closely with the Company to ensure it every success. This placement supports that commitment by DOID."
Todays RNS
“We continue to support Asiamet as it continues to advance the important BKM Copper project through the next stages of engineering and financing. Copper remains an important strategic metal and is central to the energy transition. Our teams are working closely with the Company to ensure its every success, and this placement further demonstrates DOID's commitment." |
What will the market cap be after dilution (assuming the public offering is maxed out?) |
Hard to know how long the bank process will take, ie how much re work will need to be done. On one hand we’re not even at the May 23 position when we released the FS and were approaching banks etc - currently we’re reworking a FS. As I say though, hopefully some of the initial door opening won’t need to be started again from scratch. We’ll see… |
I expect the retail offer to be fully taken up.
They shouldn’t need a full year cover and can wind certain costs down in any case so it’s a positive (or as near as we ever get) to see DOID limited to 41%
Price is irrelevant other then optically.
It’s all about timing , and as the RNS states , everything has taken considerably longer than it should have….. |
Agreed @2lb.
Better price than I expected and less dilution. I’m not entirely convinced that another years worth of money, but probably not that important given what I expect to happen (ie the DOID takeout) in any case.
Can’t see Retail banging down the door at 0.77p. |
Could have been worse...... |
This was not the director changes that everyone wanted. Lolz. This train is chugging toward the cliff edge and it will not stop for anyone. Jump. |
This is what I said a week ago. You never answered and here we are…
“As for a raise taking us to construction well first that depends on IF we get it. You were wrong about that last year so at least consider you might be wrong again. In anycase my belief is a deal for construction wouldn’t include Asiamets standard operating costs. I don’t think Tony’s salary will be included in the capex, or however much we pay the IR to pump it. So we’ll need money to cover out corporate costs for the next few years irrespective of whether the mystery lead bank pony up the rest. Happy to be corrected if I’ve misunderstood and the $150m or whatever in fact includes those costs. Is that what you think?” |
I don’t think CAPEX will cover Asiamets usual corporate costs, things like Tony’s salary, the office rent, or other ventures such as Beutong. Therefore my point has been they’ll be more need for funding outside of the $150m capex. After a predictable visit to a few cup de sacs you wanted to take the conversation to, it seems you now realise we’ll still have our own bills to pay.
So where will that funding come from?
You keep believing though mate, it’s served you brilliantly so far. |
Andrew, you're confusing yourself now.Of course anything at Beutong will not be covered by financing at BKM, what planet are you on?What I, 2LB have answered is your question of salaries being covered by BKM financing, it normally is so now you realise you were wrong, you're actually trying to now say will it also cover the beutong costs, of course it won't.Seriously Andrew, and as politely as I can say it, you obviously don't have a clue how mining, CAPEX, contracts or, for that matter, even how business works so why show yourself up by making such stupid comments. 'Will the off take money pay for Beutong' lol |
Dorset, I’ve got no problem if I’m wrong. I’m having a polite exchange with someone else who is capable of expressing their view. I’ll be surprised if our Beutong (as an example) costs are covered by an off taker but *IF* that’s what 2lb thinks I’ll ponder and reflect.
It’s a theoretical question in anycase, because I’m very confident we won’t have funding in place this time next year. You were confident it would be done between January and March 24, so whilst all opinions are welcome, yours coming with a great big clown emoji mate. Especially because you can’t even understand why DOID might take us out as cheaply as they can.
Funny that whilst i admit ive never been involved in the construction of a mine in Indonesia, you scoff and badge this as ignorance. Perhaps you could share you own experience in this sphere? Or is it just reading about the lassonde curve on Telegram? |
Andrew, you're now being told from all corners that any funding would include, as standard, the salaries until it is built.Laughable that you harp on about a single point for so long, you're told you're wrong then eventually admit you have no experience or idea of how such companies operate.I've heard of banging your head against a wall, but you must have such a bump on your face that you can't see fact from fiction.Just accept you're wrong, again. |
@2lb
I’ve never been involved in a company at this stage so happy to be educated. But that does surprise me- for example we pay money each year towards Beutong - are you saying that would come out of an off takers upfront investment? My assumption was the money for the construction would be ringfenced and standard operating costs are for Asiamet to manage. |
Dear God, Peter Bird.
Being the fake Asiamet CEO is a great job isn't it, first Bird, now Mclleland.
>£500k a year to delivery nothing other than share price destruction year after year.
FWIW on the other point, I would expect any project funding package to 100% cover all the operational and ongoing coats of the business - that is standard to my mind in any such arrangement.
Whatever happened to the idea of a sale of partial sale of one asset (KSK or Beutong) to fund the development of the other? Always seemed the preferred option to me... |
There'd be multiple share price 'pings' for sure if Bird was to return... |
I disagree the Asiamet corporate costs are baked into the bank loan and offtake agreements. I’m equally happy to be corrected if that’s wrong though.
I am also looking to the future, I just see it differently because I see a DOID takeover. You laughed at that, so we’ll have to see who laughs last. |
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