Asiamet Resources Share Discussion Threads

[dorset64] 06/11/2023 18:01

I would expect some form of extra investment from DOID to be announced this’d week sometime.

Given they have not solid a share and have now installed 2 directors of their choice on to the board of Asiamet it would appear, from the outside, that they are still fully aligned with Asiamets journey.

What the actual investment looks like we’ll have to wait and see and hopefully we’ll know this week.

[2lb] 05/11/2023 15:48

Fully expecting the rules to change again at DOIDs request.Manini will allow any requested change.I would expect a smaller amount with a change to the 20% premium,

[mostyn] 05/11/2023 11:32

Not much interest here. I wonder if the DOID option expiry on November 7th will generate any interest one way or another, depending on what happens. It's difficult to interpret any DOID decision on the option as they are the largest shareholder and sit on the board.

[mostyn] 01/11/2023 16:31

We could get something from one of the alleged interested parties, but doesn't it take a long time to do due diligence. I wonder if the ones from a couple of years go have finished yet.

[2lb] 01/11/2023 15:32

I'd take another AE scam right now if it boosted us back up to 6p.....

[adw198] 01/11/2023 10:16

I mentioned last week “I don’t know UPL but that sounds like an Aternum Energy type bid”.

Guess who does the IR comms for UPL :)

hxxps://www.flowcomms.com/clients/

[mostyn] 30/10/2023 11:16

It's disappointing that there hasn't been more interest after the RNS, even in this poor market. This does point to a number of possible milestones being achieved before year end and they have likely made progress since the last update. I do get the impression that Darryn is the driving force in the company and gets things done. Both the Biomass idea and the Sulphuric acid investigation are both designed to lower project costs.

I'm not sure, as per Dorset's comment, that they can do much on site before the forestry permit has been approved, so I wasn't expecting any site related activity.

As I have mentioned before we could hope (rather than expect) to see the following before year end:

1 The nomination of a lead bank
2 An offtake agreement
3 The nomination of an EPC contractor
4 Additional financing for the company (DOID or other)

and perhaps

5 A go, or no go, on the sulphuric acid idea
6 Further progress on the potential of a Biomass plant
7 Some form of corporate activity at the project or company level

If we get the DOID finance the $5M should take us through to production at current spend levels, assuming no expensive exploration activity. I don't think this would necessarily be the company's preferred option at the current price, but the current share price is likely to inhibit other options. The money from the last capital raise has lasted much longer than expected, but they surely can't go on for much longer so again we should get news soon.

With the current level of interest in copper and battery metals I can't see Asiamet existing in its current form for too much longer. Whether this plays out at the project or company level is anyone's guess, as is any valuation of project/company that might be achieved.

[dorset64] 30/10/2023 10:23

Yep ADW, you're correct as just looked at the original rns. What I must have been thinking of is that DOID can only have 1 Director if their investment fell below the 19.9% barrier, but 2 if it remains above it. I don't know if they will reinvest the extra $5m but at these prices and they have the cash to do so, they'd be made not to imo.

[adw198] 30/10/2023 09:50

Hi Dorset

Re your comment “Regarding the DOID appointment, as per the terms, DOID had to appoint TWO directors BEFORE they could make another investment”230;

I don’t think that’s quite right. As per the RNS

“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.”

So they’ve been able to buy since January 01st is my reading

[dorset64] 30/10/2023 09:30

Mostyn, I think that's the problem, this news effectively tells us what we already new, they are working on the banks etc etc. They could have gone in to detail along with pictures about the access roads they are currently building, but not one mention. That would have then showed shareholders that actual physical work and progress is being made on site, but nothing.Today's update is important news but its simply says what we already know or suspected, what I wanted to see is what is also happening on site in anticipation of funding approval. Regarding the DOID appointment, as per the terms, DOID had to appoint TWO directors BEFORE they could make another investment so, this points to an investment within days otherwise, if they just wished to be on the BoD's to oversee their current investment, they already had one person there, so no need for another imo.

[adw198] 30/10/2023 08:06

@aborting I don’t think there’s a cat in hells chance debt will be sorted this year. They’re aiming for an *initial* credit decision by the end of the year with the potential (ie unappointed) lead bank. The RNS notes the “Company ^intends to engage* with selected Indonesian banks as part of our broader funding progress”. I’m happy to acknowledge I don’t know how you raise $100m + of debt finance and the role of a lead bank but that quote makes it very clear we’ve not even started discussions with other banks.

The DOID appointment Board is promising with regards to their interest and hopefully the incoming $5m. I’m still saying odds against we get it.

[mostyn] 30/10/2023 07:36

Decent update, although not much progress beyond what we already knew from recent interviews. Looks like sulphuric acid idea could be another positive revenue stream, subject to transportation costs, so they seem to be looking for ideas to further improve the overall project economics. Interesting that we now have 2 DOID directors on the Board. I wonder what, if anything, that means for further financing. They only have until November 7th to exercise their option.

[adorling] 30/10/2023 07:25

Another RNS confirming debt finance will take to the end of the year (in ARS language that means Q2 2024 given previous history). No doubt they will be building an extension to the data room with so many “interested parties” in it for the past 6 years now?

[adw198] 29/10/2023 23:30

I don’t know UPL but that sounds like an Aternum Energy type bid. Nailed on to be the biggest loser on AIM tomorrow.

5p (£100m) is exceptionally bold given we’re in dire need of funds and our supportive in country largest shareholder seem slow to to take 15-20% for $5m. What would someone who hasn’t conduced the most detailed due diligence and who isn’t on the Board see that DOID don’t for a fraction of the cost? And even they did DOID would know about before anyone else.

[2lb] 28/10/2023 18:41

Exactly correct.UPL shows that bidders who understand what they are bidding on can see past the share price.We know that the share price is a reflection of the management and not the assets so again a savvy bidder will put their ineffectiveness to one side.Management will claim actively seeking a 100% buyer is a sign of weakness and therefore would invite only "low bids" but then as they have systematically destroyed the share price through idiocy over the years I think the shareholders should be left to make the call on that one.

[mostyn] 28/10/2023 17:59

2LB,

Any sale would certainly need to be 5p+. After everything TM has said I can't see anything less than 10p being accepted. The NPV of BKM is around 5.5p. Then you have BKZ which also has significant value and Beutong which is considerably larger than everything else put together. Obviously, at this stage, there is a greater risk element to BKZ and Beutong which reduces their effective value. The problem with selling the company, is how one gets from 1p to north of 5p. You don't see many (any?) bids which immediately give a several hundred percent premium to the existing share price, and the management have so far proved that they can't raise the share price in spite of regularly stating the the company is very undervalued (to become worth hundreds of millions if not billions - TM)

[2lb] 28/10/2023 13:49

DOID remain somewhat of an irritation in their behaviour. Feels like they finally remembered to put someone on the Board which now gives them sight of all activity so they can make calls as suits them but equally their diversification rationale remains in place.Manini is the softest touch I have ever seen when it comes to the negotiating table so it's all down to what DOID tell him is going to happen and fully on their terms.Genuine third party interest is the only thing that will kick them into any sort of action. If they can't sell the company for 5p+ a share then something is clearly very wrong

[adw198] 28/10/2023 09:06

I don’t see a Chinese company making a JV type deal. In which case we’re back to trying find $230m and I don’t know where that’s realistically coming from? We couldn’t find the money (or buyer) in 2021-22 when copper was much higher so I don’t have confidence we can raise it now. I think it’s pretty bold to describe an investment here as a no brainer when there’s an imminent need to raise funds just to keep going - quite separate to the $230m. And if DOID don’t take the option then it’s hard not to take a negative view about how much they value the project. Nobody has looked at this closer than them and nobody has more £ riding on it.

[mostyn] 27/10/2023 12:45

If there is any Chinese interest, they are prepared to look at the long term, and this gives them a significant advantage over the West where it's the next quarter or half year that's important. Even in the West the major mining companies have to look long term to build/rebuild supplies as mining is a long term game. If a company of the size of Asiamet (in resource terms) couldn't get finance, this would only exacerbate the longer term copper/battery metals shortage.

[adw198] 27/10/2023 12:30

The difficulty I have is I couldn’t articulate how we get this to production from here. I think most of us agree trhe type of deal we had with DOID isn’t viable so that leaves $230m to be found from banks and offtakers which I don’t think is likely in this environment.

[mostyn] 27/10/2023 12:11

If you believe in the medium/long term copper story, and the fact that Asiamet has one of the few late stage copper projects in South East Asia, then this should be a no brainer. Asiamet is likely to get the required finance one way or another, and I can't see it being a discounted placing at this level.

[adw198] 27/10/2023 11:37

If they don’t take their option then the outlook is pretty bleak to be honest. Hopefully in that scenario we’ll at least be treated to an entertaining reason why they didn’t from Sasha. ;)