Asiamet Resources Share Discussion Threads

[dorset64] 08/11/2023 16:38

Who knows, they may be talking to someone now or they may not, we don’t know.

Point was ADW saying they wont do anything due to protests, I simply say that I disagree with that but seeing as they are concentrating on BKM financing right now, I couldn’t care if Beutong was left to mid next year or later as, as long as they concentrate on getting a deal/JV and/or finance for BKM who cares if Beutong is currently left on the shelf, I wouldn’t.

[v11slr] 08/11/2023 16:30

How much later in 2023? 31st December?

[dorset64] 08/11/2023 16:26

Adw1988 Nov '23 - 16:04 - 30499 of 30499
0 0 0
No Dorset, the company have said Beutong would be a focus later in 2023.
====================================================

Which in your previous posts you said they have forgotten about it, would do nothing and in part due to the previous student protest. The above disagree’s with your analogy, its as simple as that, and you!

[mostyn] 08/11/2023 16:19

Adw198,

I suspect they have spent much more in earlier years on Beutong. They quote in their presentations that they have spent overall more than $80M on exploration. Most of that is likely to be on Beutong. It would be difficult to get the size of the Beutong resource without a very significant spend. It dwarfs everything else put together. Furthermore they quote in the presentations that there is huge exploration upside, presumably on all deposits, so it would be hard for them to ignore the value in Beutong if someone came looking.

[adw198] 08/11/2023 16:04

No Dorset, the company have said Beutong would be a focus later in 2023. It’s there in black and white. It might be they changed plan and decided not to try and get investment but that’s the latest statement I can find.

It’s just another carrot dangle imo. As of September 2022 they were floating new interested parties so seems fair to say that also came to nothing.

[dorset64] 08/11/2023 15:49

My own thinking on DOID is that IF they do re-invest, they wouldn’t be doing that without firstly having full knowledge of all or any activity at commercial level.

Personally and not withstanding the co’s current cash flow requirements, if any, having DOID increase their stake to circ a 35-40% post dilution, would imo make it less a possibility of a full buy-out (as any buyer would then need to purchase DOID shareholding to have full control) but increase the possibility of a lead bank being installed and funding being realised.

My preference at this stage and depending upon what is actually happening with respect to interest in the company, I would prefer they either didn’t invest or, if so, at a reduced rate if nothing more than the above reason however, by installing their 2nd director on the board says to me they will be re-investing at some level.

[adw198] 08/11/2023 15:44

Fair point.
I appreciate my views aren’t popular with those more bullish but they’re just as I see things and I personally find a range of views helps understand the investment case. Just an opinion and always with the caveat it might be wrong.

In the course of the Beutong “chat” I looked back and saw what we’d spent over the last few years - shared for ease of reference if anyone else is interested

$612k 2018
359 2019
102 2020
279 2021
471 2022
75 2023

[2lb] 08/11/2023 15:32

Seems a bit daft to be sniping at each other when all anger and frustration should be directed at the charlatans on the other side of the world who are sucking cash out of the business via inflated / wholly unjustified salaries and "adviser fees" to their mates.....

Its for them to come up with the answers to these questions and to explain how exactly they intend to deliver some value acceleration......

I have written to the CEO twice in the past 2 weeks with asking some very specific questions - as expected no reply. Perhaps if I declared myself to be an "interested party" I would get an instant response and immediate entry to the data room.....

[dorset64] 08/11/2023 14:41

ADW, seriously fella, are you going mad or just unable to understand what even yourself write.

What you’ve posted above from both myself ie the company would had been mad spending what cash they had on beutong whilst finalising the BFS and arranging finance on BKM, is exactly the same as what the company stated ie ‘ will be a focus later in the year’.

Both snippets you posted from myself & the company are exactly the same thing and you’ve just proved my point!!

[adw198] 08/11/2023 11:26

All opinions welcome Dorset, although I prefer some reasoning rather than just shouting angrily about someone else being wrong.

You’ve misrepresented a couple of those points so I’ll correct for the sake of clarity.

Beutong is pretty much worthless based on what people are prepared to pay. Weird how none of these Chinese powerhouses have ever made an offer - perhaps you could tell us why? Again, I’ll ask why we didn’t drill it with the $1m raised specifically for that purpose? How much have we spent on it since then - hundreds of thousands which ha now been massively reduced (you’ve made it very clear about your expertise in accounts so you’ll have read that too)

DOID are supportive in the sense I don’t think they’ll let us go bust as that’s not in their interests. Since they involved and starting messing us around we’ve gone backwards. And now they either don’t want to take their option or best case want to wait till the last minute because that suits them. They’re looking after themselves as they should. You’ve claimed they wanted more shares but we turned them down. Do you still believe that?

We might get a deal ie asset / company sale but we 100% won’t be building BKM ourselves in my view. You’ve said you expect a deal / finance this year so let’s see who is right and perhaps then if you are your condescending superiority complex will be justified. You’re overdue calling something right and I’d love you to be right here but it’s not even close as per the last RNS.

You say the share price will be multiples - it’s not me who you need to convince mate it’s DOID.

I say we’re about to run out of money and you say…err not a lot about that!

[dorset64] 08/11/2023 11:11

ADW, what are you on about, you really do live in a fantasy world.You say Beutong is worthless, I disagree.You say Beutong will never be sold/mined, I disagree.You say DOID are unsupportive, I disagree.You say Asiamet won't get a deal/jv/sold/finance, I disagree.You say the share price won't be multiples of today at some point in the near/mid range future, I disagree.

[dorset64] 08/11/2023 09:35

ADW, as I see no-one in their right mind would, at this stage, waste time & money on Beutong whilst, at the same time they've updated the BKM BFS and are putting all their time into arranging the finance to commence this feeder project.Forget the protests as the Indo gov are pro pm mining and the fact they've done nothing with it, since the student protests means nothing imo. If for instance the Chinese interest comes through, do you honestly believe the indo government would halt all mining, a deal with the Chinese on a world class & rated resource for the sake of some students. Get BKM over the line, then with a deal and cash in place I'd expect them to them again start proving up the VHMS system & BKZ/BKW etc, and look to partner and/or dispose of Beutong. Beutong imo comes last right now so why you keep harping on about it as being worthless & ignored is beyond me.

[adw198] 07/11/2023 10:14

*If* DOID don’t want to invest $5m then at circa 1.175 per share then I don’t think it’s realistic to contemplate someone else paying over 4 times that.

I fully agree BKM is a starter project and once infrastructure is in place it makes BKZ much more profitable. But we don’t have any numbers on that, ie we don’t know the costs of getting the resources out of the ground. The BKZ results came in after the HOA and still didn’t prevent DOID back away so I don’t know if the results were as good as portrayed. It’s well outside my knowledge but it didn’t seem to impress them or lead to any other positive outcomes for us.

As for Beutong….IR17;m surprised we’re still talking about because even the company themselves have stopped referencing it. It seems the community protests have ended that before it began.

Let’s see if they pony up in the next week. I’m sure they won’t let us go under but it’s a very sign if they want in at these levels.

[mostyn] 07/11/2023 09:41

I think at this stage I would prefer them to sell the lot, using the circa 5.5p per share NPV of BKM as a baseline. It seems ridiculous that one can add the approximate sum of the parts, based on the JORC compliant resources, and come out with a number hugely in excess of the 5.5p, especially with the share price at its current level. Beutong, on its own, is probably close to being a globally significant resource.

[2lb] 07/11/2023 09:00

Yes , both correct , it's the 14th.That makes all the difference :-)It's a remarkable achievement from the dynamic duo of McLelland and Manini to have delivered a decline in share price over the relevant 12 month period with the only output being a late delivered updated BFS.Given DOID will vary the terms to their favour and Manini will bend over and take it then the best hope remains some competitive tension from one of the five thousand "interested parties".There has allegedly been Chinese interest in Beutong so just sell it for whatever you can get .

[dorset64] 07/11/2023 07:30

Mostyn, no apologies needed fella, I only realised when the date of 14th November was posted on another site, so in turn went back and checked the relevant rns'.

[mostyn] 07/11/2023 07:23

Apologies to all. You are absolutely correct Dorset64. Completion was November 14th, not the date of the original announcement. The share price needs to head north quickly to get a better price if they do decide to go ahead. I was hoping the company would find an even better option which would push the price up, so that if DOID did decide to exercise their option they would be doing it at a much higher price.

[dorset64] 06/11/2023 22:03

The 7th November rns stating they are taking the shares and 12 months from completion.15th November rns states they took the shares on the 14th November.

[dorset64] 06/11/2023 22:00

14th November Mostyn. 12 months from their previous placing which was on the 14th November 2022. Take a read of the RNS from 15th November 2022.

[mostyn] 06/11/2023 20:46

They only have until November 7th to exercise their option. If they don't do that, I could see ASIAMET trying to find some alternative source of funds.