Asiamet Resources Share Discussion Threads

[dorset64] 01/9/2023 15:56

ADW, last word from me on this ‘nothing’; subject but seriously fella, you’re barking up the wrong tree if you’re even remotely reading anything in to the ‘going concern’ comment. They would likely still include that wording, or similar if they were actually mining and making a fortune from the cathode.

The one answer I am more looking in to is the late interims, and why they have today changed their nomad. Is that a coincidence, I haven’t a clue but have asked questions to find out. The results themselves are not late its just that they have decided to release them later than they normally do which is the Q I’ve asked.

[adw198] 01/9/2023 15:08

No, I’m not.

I’m asking why they haven’t taken their next chunk and / or place on the Board?
I’m also highlighting that in the current environment I strongly suspect they can get a better deal than +20% of market value.

Perhaps linked to the above is the fact our results are late and we’ve just changed NOMAD. But apparently all companies have to confirm there a material chances they won’t last a year :)

[bradshaw980] 01/9/2023 15:02

Are you saying doid want Asiamet's share price to crash?

[mostyn] 01/9/2023 14:33

DOID aren't going to write off their existing investment. DM did say at the end of last year that the company had a significant cash runway into 2023. I would guess that cash is now getting much tighter, but DOID do have the option to provide another $5M, which at the current rate of expenditure would probably take us to the assumed production start date. At present I would guess that DOID would need to provide the funds at around 1.5p (10 day WVAP + 20%). I sure with the current change in NOMAD they are thinking about their overall financing options both at at the company and project level. We should see by the interim results if nothing happens before then.

[adw198] 01/9/2023 14:09

Companies who have a material concern about imminent funding need to confirm the same. We did in 2022, we didn’t in 2021.
We would need to make the same statement in 2023 and our results appear late and we’ve just changed NOMADs. As in investor here that doesn’t read to well. If you disagree with any of that then either explain why or better still just stay quiet - but please spare the misplaced lectures about all companies issuing a material concern because that’s just plain wrong.

[dorset64] 01/9/2023 14:05

ADW none of my companies are or were miners but the three different accountants I used each inserted a 'going concern ' phrase, its all standard stuff fella.You're again harping on about something that is totally pointless.

[bradshaw980] 01/9/2023 13:42

The south coast is better than the north as it's closer to freedom

[bradshaw980] 01/9/2023 13:22

No offence to northern folk just couldn't resist calling Adw198 a twerp to be fair

[bradshaw980] 01/9/2023 13:19

Button it you grubby northern twerp!!

[adw198] 01/9/2023 13:17

“if Asiamet don't either have external funding or fund raises, then they won't be in business for long”

This is my point. We don’t know how easy it’ll be to raise funds because we know our supportive shareholder haven’t taken their next wedge. I suspect they will - if they don’t we’ve got a massive problem. Which unlike 2021 will need to reflected in the interims - which are late and we’ve just changed NOMAD. May or not be linked, but at least those of us outside the south coast can have an awareness of the facts

[adw198] 01/9/2023 13:13

So not all companies need to issue a comment / warning about there being a material uncertainty as to their ability to continue. Good, we agree altho a shame we had to have the usual dance to get to the facts.

I’m not interested in your analysis of the risk - you don’t even understand how to read the accounts whilst dishing out another fantastic lecture about how things work. No wonder you’re down by hundreds of thousands - living in a paid for PR parallel universe. Ignorance is bliss for Dorset, I suggest those less keen to swallow everything they’re told in a private chat group just read the accounts

[dorset64] 01/9/2023 13:08

This post of yours typically shows that you have no idea as to how to read accounts or the running of a business. It's not arrogance you fool, it's common sense!!

[dorset64] 01/9/2023 13:06

ADW, they are currently an explorer turning in to s developer. Any explorers accounts will note that funding is required in order to continue as a going concern and the help of their bank.It's all standard stuff, how do you think explorers survive, by making & selling cookies until they build a mine?You're again trying to make a point about something that is nothing as of course, if Asiamet don't either have external funding or fund raises, then they won't be in business for long.

[adw198] 01/9/2023 12:56

To all those who might assume Dorset arrogance carries some weight of knowledge, I suggest having a read of the 2021 August financial update. In that one they reported “no material uncertainties” that the group will continue as a going concern as they have enough money for the next 12months.

So no, not every company has to issue a warning. Those who are well funded can say the same, just like we did when we had money.

[adw198] 01/9/2023 12:48

Not every company will need to issue a statement that without imminent funding they’ll be an uncertainty leading to “significant doubt” on their ability to operate as a going concern.

Last years financial assessed the likelihood of getting the funding. This year it’s overdue and we’ve just changed NOMAD.

I think it’s fair to comment on this rather than pretend the same risks exist in all other companies - as that’s simply untrue.

Either way the key point remains - where is the funding coming from, when and under what terms. And I guess a follow up question is what it’ll be used for / how long it’ll last.

[dorset64] 01/9/2023 12:28

Every financial, every company, even a one man bands Accountants have to state without their funding the business would cease.Read any co's account, even a free 100 company and the same term will be in there somewhere it's all standard stuff which, if you knew how to read accounts you'd understand.

[adw198] 01/9/2023 12:16

Yeah I know most people prefer incessant cheerleading but I am surprised there isn’t more concern about our ability to raise the funds we’ll imminently need. There is a bigger underlying question / worry as why DOID haven’t yet taken their next $5million and / or their places on the Board.

Presumably the half year financials will need to report on the risk as a going concern and presumably comment on DOIDs option. Change of NOMAD in this context doesn’t feel positive.

Either way I suspect by end of September we’ll know more…

[arlington chetwynd talbott] 01/9/2023 11:46

Good point, they are actually overdue (in the sense of being later than normal).

[adw198] 01/9/2023 11:03

Interesting - from a timing perspective arent the 6 month results / financials due?

[mostyn] 01/9/2023 10:18

This is what they say about themselves:

"Strand Hanson is an independent advisory-led, modern merchant bank, with a specific focus on providing the highest quality, innovative and independent financial and strategic advice to our public and private clients across a broad range of sectors and geographies. Strand Hanson acts as a Nominated Adviser to AIM quoted companies, and financial adviser to LSE Main Market listed companies.

The team has extensive corporate finance experience across a broad range of sectors – particularly the wider natural resource and energy-related industries, including emerging and frontier markets."

Headquartered in London and with offices in South Africa, Guyana and Argentina, Strand Hanson has developed strategic partnerships, to broaden our global reach, providing access to a large number of opportunities, particularly in emerging markets, including Africa, the Middle East, South America and Asia.

Our business is wholly management owned and controlled, lending significant flexibility and speed of response to our business model."

[bradshaw980] 01/9/2023 06:41

Why would they change their nominated advisor at this stage of the game?

[bradshaw980] 01/9/2023 05:29

It's circa 6 months since they released high confidence present day capital cost estimate of $236.5 million......and inflation has been cooling of late!..... imho.....DYOR!