Asiamet Resources Share Discussion Threads

[2lb] 17/10/2023 09:26

OK Thanks

Meanwhile another new all time low being hit despite all the attempts by them to talk it up.

Takeover remains the best solution for all stakeholders.

[mostyn] 16/10/2023 20:21

Hi 2LB,

Yes I did get a reply from Darryn. He couldn't answer all questions, but the comments he did make were basically the same as the recent interview. Nothing new or controversial, but unlike many directors he does generally reply to my emails and gives a decent and considered reply. The problem with emailing any company is that the questions one most wants to ask are the very questions the directors are legally incapable of answering, as the answers, if available, need first to go into an RNS.

[2lb] 16/10/2023 12:08

Mostyn - did you ever get a reply from the company?

[2lb] 11/10/2023 12:30

Updates and interviews no longer carry any meaning - which is a situation of their own making.

Kicking cans down the road in every single interview is all we can expect these days. He couldn't help but drop in a "shortly" early on and then you can almost see the regret on his face as he dropped it.

As usual we also got a "took longer than expected" - the tag line for Asiamet.

They can huff and bluff as much as they like but the inability to ever deliver anything of value remains the common theme.

And of course - the timeless "interested parties" BS comes out every single time.....

Accept a bid , any bid, just get it signed and go screw up somewhere else......

[adw198] 11/10/2023 12:21

I think Beutong is essentially in the bin to be honest. Nothing has happened since the protests 4 years ago, they’ve stopped spending on it and stopped talking about it. Perhaps someone will take a speculative punt and take its off us in the hope the situation changes because we can’t afford to do anything with it.

I’m unsure how viable it is to split BKM and BKZ - both the previous (failed) deals were for KSK which included both. If / when BKM is built BKZ will presumably be much more profitable as the surrounding infrastructure will be built, but obviously there’s no FS metrics around that. The “stunning̶1; drilling results for BKZ came in after the DOID HOA and didn’t make any difference to the share price

Hopefully you’re right on a deal tho - I just want to get something back and move on as the facts are different now to when I invested.

[v11slr] 11/10/2023 11:49

What assets do they actually have though apart from dwindling cask in the bank. They don't own the land they propose to mine and I don't think they have all the permits they need either.

[mostyn] 11/10/2023 11:35

Based on the comment that parties are looking at the assets, and are looking to participate in the BKM project, I would think that Asiamet will also consider an equity component at the project level, as they have said this in past interviews. They do have options considering they have BKM, BKZ, and Beutong and different companies may be interested in different assets. I still feel this will be difficult given the low market cap. Tony Manini recently talked about building a company worth hundreds of millions if not billions. They won't want to give away assets or shares of assets. I think it's much more likely, that if the interested parties really are very interested, and they can't get agreement on an offer for a portion/project, someone will have a go at the whole company. Perhaps this is just wishful thinking.

[adw198] 11/10/2023 11:06

@mostyn Yes that’s a fair point but isn’t the official line we’re going for debt and off take to fund the whole thing? Or is there now an admission we need a JV too?
DOID didn’t want away because the share price dropped though, the wider evidence shows us that’s not what happened as they were reversing away when the share price was much higher than now and also higher than when they signed the HOA.

[mostyn] 11/10/2023 10:26

The main problem Asiamet has, at present, in getting any deals done is the share price. The consequent low market cap is going to colour the views of anyone looking at the assets. At a market cap of £22M it's going to be difficult for someone interested in the projects/company, to give Asiamet an offer that they could justify to their own shareholders. Asiamet valued BKM/KSK at $100M for the DOID participation ($50M for DOID's 51%). How could they then accept substantially less when potential partners are going to look at the market cap for the whole company, at £22M, and make any offers accordingly. Unless they get the share price up, either any offers are a non starter, or they end up accepting something at a pittance, which so far they have said they won't do.

[2lb] 09/10/2023 17:26

There's also a W, N and K missing……;

[texaschaser] 07/10/2023 18:45

there's an E missing from ARS

[adw198] 07/10/2023 12:54

There were very few, if any, positives from that RNS. As 2lb has highlighted it’s the same old phrases - it could have been a cut and paste from most releases since 2019.
Why do some many of these interested parties never follow through? We had 5 of them in the data room in 2021 which led to one subsequently withdrawn offer.

Even if the bank lend us $100m+, that still leaves the same again and I don’t think we’ve had an explanation as to where the rest is coming from. Yes some might be from offtake agreements but are people expecting $100m + to be raised that way?

Nothing will happen with copper at these prices imo.

[napoleon 14th] 07/10/2023 12:01

Dorset64 - I admire your limitless optimism.
I've written this off, like that other pile of poo called BIDS.
Endless projects that never make it until liquidators put them to sleep...

[dorset64] 06/10/2023 09:31

Am out of the UK but a very decent update by the look of it. I would guess a follow up interview and, at last, a continued update of news over the coming months. Happy I bought more at under a penny.

[mostyn] 06/10/2023 06:26

Interesting update. Looks like there is plenty going on and some decent progress. What it does do is make a complete nonsense of Tony Manini's "pretty shortly" comment about getting a lead bank, now made two and a half months ago. The ITE report will be issued to the potential lead bank in the next 14 days, and then the bank have to do their due diligence and financial modelling. Even going from today "pretty shortly" would seem optimistic. Otherwise things seem to be going well.

[2lb] 04/10/2023 15:39

Good luck with getting a reply that does nothing other then blame anyone and anything other then the real root cause....

[mostyn] 04/10/2023 10:37

This post should really start with "come back DOID, all bad shareholder thoughts are forgiven", so it does.

I think the current problem here is several fold.

- The whole market for resource juniors especially on AIM is very poor.
- In the five months since the FS, Asiamet has announced nothing.
- Several bullish (bullsh..) interviews have raised expectations without delivering.
- We know the company is going to need money soon.
- Investors have no idea what to expect next.

In this scenario the next best announcement would be DOID taking up their option at a low price, albeit 20% higher than the 10 day VWAP. The current market is not forgiving of capital raising.

Having said all that the company is hugely undervalued based on the assets, even according to TM (Ha! Ha!), and on the chart is very oversold. I probably agree with TM one one thing at least and that is if the price stays around this level there is almost certainly going to be some attempt at a takeover at some stage, although when is anyone's guess.

Like Dorset64 I bought some more this morning though not at his scale.

I emailed the company with my thoughts on the current share price, their lack of news, and their failure to deliver against optimistic interview comments, and am awaiting a reply which may or may not come.

[dorset64] 04/10/2023 09:22

Can’t disagree with much said above except a valuation of circa £19m for what are world class assets is just crazy. Many things have meant were at that valuation not least TM but with what’s going on in the background, the markets have also ensured we are where we are in respect of the share price hence I just bought another 1m+ in 2 lots.

Investing is a long term shout and the spoils in the market today will/should be long gone in 6-12 months with the green industry again picking up along with copper prices. At the moment it’s all doom & gloom but as with every recession/choppy waters, the world always come through it and with it so will the copper/green revolution.

I’m hurting like everyone else but take a longer view and, despite my disdain for certain people on the BoD’s I am still sure that a deal/financing/JV/full takeover will occur over the coming 3-6 months, hence instead of selling I’ve bought more at under a penny.

[sos100] 04/10/2023 08:33

starting to think UK stock market(esp resource sector) is more or less finished?

Too much corruption across the board,most private investors seem to have had enough....even good companies like yu Group incorrectly valued.

no point in long term investing ,even short sellers will have nothing left to target

[adw198] 04/10/2023 08:30

Yeah an unfortunate mix of

- Needing short term funding
- Our largest shareholder (with a stated wish to diversify) seemingly being slow to take their next chunk even at these levels (which links back to the treasury point)
- Copper being 10% under the price used in the new FS with a recession possible
- General sentiment following HZMs disaster
- Persistent seller
- Failure to announce appointment of a lead bank, which is only a first step on the long road to raising $230m
- Beutong seemingly in the bin