Asiamet Resources Share Discussion Threads

[bsg] 04/10/2023 08:12

Copper is tanking as well, nothing here for a while I think.

[dorset64] 04/10/2023 08:09

This is just crazy, I know a lot of other miners are seeing the exact same thing but surely every mining share dropping can’t just be due to an overhang from HZM?

[2lb] 04/10/2023 07:53

All time low Take a bow Asiamet management

[wiseacre] 03/10/2023 15:25

I picked up half a bar at midday which was wrongly recorded as a sale. May be catching a falling knife but couldn't resist. High risk/reward.

[adw198] 02/10/2023 13:23

That HZM RNS is an absolute car crash. And a reminder of a) execution risk and b) AIM generally is something of a wild
West for investing. Hard noT to tbink something pretty underhand has happened to suddenly need (“at least”) 35% more. Doesn’t happen overnight.

I think plenty of folk get sucked into the promise of the next big thing / massive upside, as presented by CEOs who are spin doctors as much as business leaders.

I certainly did with Asiamet! You live and learn….

[2lb] 02/10/2023 11:32

mostyn.

I don't believe the situations are comparable hence why I referred to the sector and market as opposed to Asiamet specifically.

The whole logic behind rewriting the BFS was to take account of the changes in the various inputs and assumptions to reflect the new operating environment.

The issue becomes that with each passing day the self titled "2022 BFS" becomes more and more outdated. If the company is not able to land on a funding plan in the short term then 2024 will be upon us and the BFS will get closer to needing to be updated, again, at the request of "interested parties" whatever that means.

I think HZM have treated their shareholders appallingly today hence the contagion via some distressed selling in other stocks and the bash to general sentiment.

With the DOID deadline for further investment now only weeks away and the nonsense of "pretty shortly" having been exposed one wonders what is really going on at Asiamet HQ other than a great deal of naval gazing......

[fireplace22] 02/10/2023 11:25

HZM's mine and plant are due in production next year how is that behind ARS?

[mostyn] 02/10/2023 11:20

2LB

It sounds like Asiamet are further forward having done the work that HZM are now doing, and that further inflationary pressures on Asiamet are less likely to impact what they have done already. This doesn't invalidate your comment as contagion is created by sentiment and not rationality. Unfortunately here we also have the no news problem which doesn't help to support the share price when such events occur.

[2lb] 02/10/2023 11:05

We should not dismiss the likely contagion impact of the update from HZM today on the junior resource sector on AIM.

[septblues] 02/10/2023 10:50

Goldman Sachs reiterate their copper price forecast of $10500 per ton based on low inventories, increasing demand and shortage of supply

[mostyn] 02/10/2023 09:35

Adw198

There won't be any financing if they don't announce a lead bank. All we have been getting here is 'pretty shortly'. It's not a good idea to set expectations if they aren't going to materialize in the expected time frame. They didn't indicate that the announcement of a lead bank would take forever.

[2lb] 02/10/2023 09:23

"Any new shares issued through the DOID Option will be priced at a 20% premium to the 10-day VWAP at the time of exercise"

This is all you need to know.

[adw198] 02/10/2023 09:17

What progress are you expecting Mostyn?
Other than the DOID option I think we’ve been guided for next year on the financing so what else can they update on?

[dorset64] 02/10/2023 09:14

And where did you pick that bit of masterpiece from, don't be daft!!

[v11slr] 02/10/2023 09:07

It's not outside the realms of possibility that the next RNS is suspension while financing is sorted out.

[mostyn] 02/10/2023 09:05

DOID taking up their option for peanuts is more likely to be the next announcement. It's not surprising the share price is drifting because they haven't announced any progress officially to the market in the last 5 months. Interviews with 'pretty shortly' no longer cut it. Tomorrow and tomorrow and tomorrow..........

[mostyn] 02/10/2023 09:01

Hilarious!

[2lb] 02/10/2023 08:55

Don't worry , the lead bank will be announced "pretty shortly"

[mostyn] 02/10/2023 08:53

Just got a quote to buy at 1.00p, so trades will be a bit misleading at present. The sale of 2,500,000 @0.95p has upset the market.

[bsg] 02/10/2023 08:48

Looks like a placing under 1p is coming ...

[2lb] 28/9/2023 17:29

A reminder of the DOID agreement


"DOID (or its nominated subsidiary) is provided with an option ("DOID Option") to subscribe for a further US$5 million of shares exercisable at any time after the earlier of DOID's two Directors being appointed or 1 January 2023, and within (12) months of the completion date of the current Placement. Any new shares issued through the DOID Option will be priced at a 20% premium to the 10-day VWAP at the time of exercise. The DOID Option does not preclude existing shareholders being offered the right to participate in future raisings on the same terms."

As part of the agreement DOID are also not permitted to purchase or sell shares in the open market.

Amusingly they are already underwater on their first $5m which were purchased at 1.175 such has been the predictable glacial pace at which Asiamet management(don't) ever get anything done.

I would far prefer they purchased in the open market

[adw198] 28/9/2023 14:57

That’s a good counter point and if they’re really keen it’s even more valid.

Irrespective of what it might otherwise cost them on the open market, I still think they could negotiate a better deal, because unless we’ve got alternative sources of funding we’re pretty desperate for their injection. If you believe the private briefs that were given last June, they tried to renegotiate the terms of the HOA so they’ve got previous for this.

[mostyn] 28/9/2023 14:30

If DOID want more shares, the 20% premium is very good business for them. Can you imagine trying to buy $5M worth of stock in the open market. They would likely have to pay well in excess of 2p per share once the market realized there was a heavy buyer. Speculators would want to get in on the action to make a quick profit on the rise. Taking up the option is a nice safe bet if they want more shares. It's not exactly as if Asiamet is overvalued!

[adw198] 28/9/2023 10:10

Good shout 2lb.

These next 6 weeks will be really interesting - I just can’t see why DOID would pay a 20% premium no matter how keen they might be (and there’s not a huge reason to think they are that keen). Surely they’ve got us by the short and curlies and could easily negotiate a better deal than a 20% premium for their next bit of equity? I wonder if there’s any flex in the $5m, ie do they need to invest the full amount or is it possible to exercise the option on a smaller amount? It did read like the former but obviously we were privy to the small print.