Asiamet Resources Share Discussion Threads

[horneblower] 06/9/2023 10:13

To be fair, they probably felt that it might happen.
However, they are repeat offenders in this regard and have demonstrated time after time that you would be unwise to believe a word of what they say.

[mostyn] 06/9/2023 10:05

Bradshaw,

While I agree that management can't always control time frames, they are there to manage the company and do have some level of control or at least expectation of, or plan for, progress. My point is that they are the ones who set shareholder expectations and they should be as careful as possible in that regard, otherwise they create an environment where the management aren't trusted. There is nothing worse from a shareholder perspective than to be told something will happen shortly, and then 2 months later be told the same thing or worse again without any further explanation. It's better to make no comment, or one where they admit they can't give a realistic estimate for whatever reason.

[bradshaw980] 06/9/2023 08:43

But you lot keep moaning about time frames the company can't control, and I'll keep looking for disconnects across the metals and mining markets !!

[bradshaw980] 06/9/2023 08:41

Rick Rule talks of "de-risking events that have occurred in bad markets". This is key imho. In Asiamet's case for me it is things like the environmental permit, that monster silver and gold assay at BKZ, a large supportive shareholder in DOID, a definitive feasibility study, a potential good review from a top firm etc etc ! All imho of course and DYOR!! Essentially good news that the market ascribed nothing to equals a disconnect!

[bradshaw980] 06/9/2023 08:13

I can't agree with much of that I'm afraid. The reason most lose in this most sordid of microcap sectors is that they can't identify what I call the 'disconnect' ie the difference between value and price. It goes against our fundamental instinct as human beings. In bad markets such as this the value of a company can go up considerably, but the share price plummet. Only those with the knowledge and courage to take advantage of that disconnect end up winners !!All imho of course!

[adw198] 05/9/2023 18:42

Ah ok, to be reducing prices is quite something when inflation is still > 6%. Great result tho!

I’m more interested in Asiamet and whether the $235m capex (and opex) will reduce due to inflation falling. I say thats unlikely.

[dorset64] 05/9/2023 17:47

Adw, I was speaking of suppliers to my co's not Asiamets.

[adw198] 05/9/2023 17:14

“all or most of our suppliers have started to reduce their prices or advising they will”

*if* that’s true and *if* they pass on the reductions to us against what they’ve quoted that’s great news. It’s not how I read the situation but would love to be wrong!

Hi E-wan yeah I think we all hope for that upside, altho we must be honest and accept we don’t know what the numbers are on the rest of KSK mining because it’s obviously not been scoped. But as you say the risk is can we get the starter project funded (this time) and what dilution will be needed along the way.

The investment case that brought me here has long since sailed and when the facts change so should one’s opinios.

[e-wan] 05/9/2023 16:59

Excellent post. Previous wounds are not a prediction of future death ?. Like you I invested too early - hindsight is 20/20 and all that. However accepting there are still plenty of risks the upside is massive. I'm actually here for the upside beyond the starter project (should we still exist) although I expect many will bail on re-rating once project financing sorted / build advanced. Exciting times

[dorset64] 05/9/2023 16:57

One caveat to my post is that if the war in Ukraine suddenly stops & everyone starts hugging & kissing again, the $billion's of dollars required to rebuild its infrastructure would go a long way to slowing or even preventing imo any talk of a recession. How uncanny eh.

[dorset64] 05/9/2023 16:51

Adw, the simple answer I'd thar all or most of our suppliers have started to reduce their prices or advising they will, as covid is over, staff back at work and were likely moving towards a near worldwide recession or at least, people are seeking to talk it that way. With the above it equals a reduction in labour costs, power, consumables and material prices.

[adw198] 05/9/2023 13:16

Fair post Dorset. Without wanting to nitpick or restart our routine, I’m unaware of prices dropping, rather the rate at which they’re increasing is slowing.
I’m personally unsure (and happy to admit) I don’t know if the $235m costs are based on current prices or prices that have assumed another 3-5 years of extremely high inflation. Without knowing that, it’s not possible to say whether our costs will this reduce (and profit rise). If I’ve got any of that wrong I’m happy to be corrected.


Hard to 2nd guess DOIDs enthusiasm for the company / project because obviously they said they didn’t want to complete the deal following their 9month due diligence exercise. Equally they’ve obviously put their hand in their pockets since then and probably will do again. I find it unsettling they don’t appear very engaged in the project level, but my best guess is they’re just building a bigger stake for less whilst we do the donkey work and progress the plan. That’s why I’m holding, certainly not on the basis of the very remote chance we managed to rustle up $235m, certainly not in a <$4lb copper environment.

[bradshaw980] 05/9/2023 12:02

Key outcome of SRK's initial review was no fatal flaws ie issues that can be sorted out !!

[bradshaw980] 05/9/2023 12:00

Agreed it seems the 2019 had issues flagged up by the world class work of SRK.....hopefully Asiamet have done a good job of addressing those issues before this latest review! All imho of course!!

[adw198] 05/9/2023 11:27

The last time SRK consulting reviewed an FS it was on behalf of DOID, described as the final piece in DOIDs due diligence around the HOA, with a stated aim being to check the project met the banks lending criteria. The conclusion of that works was NO DEAL from DOID and a very significant (in time and money) redesign of the project.

To me the natural conclusion is that previous review didn’t go well and certainly didn’t meet the banks lending criteria. I’m objective so recognise there might be other reasons DOID walked away but to dismiss out of hand the possibility that the due diligence was a factor strikes me as beyond desperate - especially if it’s entirely based on what Sasha told someone privately.

I personally also factor in DOIDs apparent apathy to joining the Board and exercising their next option. Do they not share TMs views about how massively undervalued we are?

[bradshaw980] 05/9/2023 10:17

My line of thinking is that this SRK Consulting independent technical report is essentially worth tens of millions of dollars to Asiamet...Imho! If positive obviously...if negative then I suggest everyone learns how to flip burgers and ask if they want fries with that !!If it's given the green light and seal of approval by SRK then essentially it's on the market with a big flashing neon light saying 'look at me, baby!' If then in our wildest dreams the bank credit committee says 'no problemo, give us your sort code and account number baby boi' then obviously this SRK report could potentially be worth billions of dollars....LoL !As ever all imho and DYOR!!!

[bradshaw980] 05/9/2023 08:56

So Tony should 'get on and do something about it' like what? SRK need to finish their report, the bank need to read it, the credit committee needs to say yes.. the CEO is working on FEED, detailed engineering, construction etc....I don't get what Tony needs to hurry up and do? You're just a pleb with an opinion m8 !

[adw198] 05/9/2023 08:05

Oh and for the record I definitely don’t know what’s involved in funding a mine in Indonesia. I do however know BS and factual contradictions when I see them.

[dorset64] 05/9/2023 07:35

It is hilarious how you now seek to post in the same manner as MT without understanding an ounce of what you're talking about. Constant name calling just shows the mentality of your mindset stuck in a children's playground.