Asiamet Resources Share Discussion Threads

[adw198] 14/11/2023 12:05

The stated strategy is to find $230m to build the starter BKM mine. But the fast tracked finance plan hasn’t even got as far as appointed a lead bank. Further, the latest update said “the Company intends to engage with selected Indonesian banks as part of our broader funding progress”.

They’ve apparently been talking to banks for years but here we go again.

Meanwhile we need funds asap just to afford the train fares to go and meet the banks and tell them our plan. Sure to end well :)

[2lb] 14/11/2023 11:56

The sells are impactful because nobody is buying until the company actually does something.Huge potential is clearly there but the track record on delivering is so dire that there is understandable caution.Will take one positive tangible update to turn sentiment and spark buying interest but whilst the company continues to talk rather than deliver then nothing will change

[letsnotpanic] 14/11/2023 11:53

20 mins later someone sells 5 grands worth and we're down - nice

[mostyn] 14/11/2023 11:13

Asiamet continues to generate an almost complete lack of attention and excitement. Not a single share traded at 11:11 AM.

I almost checked just to make sure they hadn't been suspended pending an announcement!

[2lb] 13/11/2023 19:23

The option in its current form will lapse tomorrow and not be exercised , of that I'm not seeing any doubt.What happens then is another matter.DOID spent the last nine months bidding on two Australian mines and ultimately lost out a few weeks ago.This means their M&A focus is no longer 100% on other things and also I'm sure they like to deliver something to shareholders after losing out on a $4bn bid, which in itself indicates funding isn't an issue for them. Asiamet however need to focus on themselves and deliver something tangible after years of misfiring

[adw198] 13/11/2023 18:06

I think I’ve got it tbh. If they buy it’s a massive vote of confidence. But given it now seems likely they won’t, you’re glad they won’t because it would dilute us and we can get the funds to keep the lights on from the magic money tree instead. Simultaneously you think within the next 2-5 month a deal/financing/JV/full takeover will occur. Which DOOD are presumably aware of but still don’t want to invest with that about to happen. I think we’re just missing the fictional Chinese purchase of Beutong and we’ve got the full house

[v11slr] 13/11/2023 17:48

Maybe understand it better if it were literate.

[dorset64] 13/11/2023 17:12

Think you both need to re-read my post as you both appear incapable of understanding it!

[adw198] 13/11/2023 16:45

Fair enough. I personally think not triggering a $5m option having originally bought in at double the price is a negative sign. People like yourself who posted what a wonderful vote of confidence it would be if they did buy in appear to changed viewpoint now it appears they’ve walked away from the ootion.

We both acknowledged they need money to keep going so it’s slightly disingenuous to suggest we don’t. Quite aside from the $230m to build a mine we need money to pay the salaries and general running costs.

I’m not sure what DOID lose by taking their seats on the Board?

[v11slr] 13/11/2023 16:35

I woud have thought that if you were invested in a company and you thought it was in danger of going bust you'd want as many people on the board as possible to try to save it.

[dorset64] 13/11/2023 16:16

ADW, as said if we have enough money for the short term, and if finance is raised then Asiamet doesn't need their money or to dilute its shareholders further, hence why I personally prefer them not to buy more.Regarding it being a signal either way, for me it was a bigger signal of them putting a 2nd Director on the board given they already had one. If the company were in fear or zero finance, zero interest and, as a result of those two scenarios the company was going bust, I would doubt very much they'd then put a 2nd director from their own company on Asiamets books. I fear they will invest but still hope they don't.

[adw198] 13/11/2023 12:46

I guess it’s a subjective assessment as to whether it’s a negative thing or not. From my point of view if they buy in, having seen first hand the level of interest and having conducted extensive project due diligence then it’s a positive, especially as it also gives us the cash we need to keep the lights on. So, being objective I have to concise the I positive if they choose not to invest, especially because it leaves a funding requirement.

[mostyn] 13/11/2023 12:15

If I have it right this time, DOID have until tomorrow to exercise their option. It will be interesting to see if anything happens. If nothing happens, I don't think that is necessarily a negative situation. It's possible they have other options which may be better for shareholders. It's also possible that's just wishful thinking, but based on what they have already stated there should be a lot happening before year end.

[adw198] 12/11/2023 19:13

We definitely do everything at the last minute - or more accurately usually a few minutes late. But this isn’t on DM / TM - it’s DOIDs decision on whether to invest and when. Although obviously that was the deal we gave them - an option they could trigger if / when it suited them (not us).

I don’t want to start a row but I sense that the spin is already being drip fed from Telegram about how it’s better for us if DOID don’t exercise their option - despite the previous narrative being about what a huge vote of confidence their investment is / would be.

One way or another though , we need funding fairly soon, as the interims clearly stated despite the bullish denials on here.

[dav37] 12/11/2023 16:24

It’s typical that everything that Ars does is left to the last minute
Doid have been given every advantage over the past few years and I just feel that the shareholders will be left with there pants around their ankles yet again for another royal rodgering.

[adw198] 10/11/2023 15:33

That’s the most likely scenario imo too. I also agree there’s absolutely no chance a smaller amount would see us through to construction.

It still begs the question why DOID wouldn’t exercise the option from their perspective - impossible not to draw a negative inference about their (inside) assessment of the outlook.

[dorset64] 10/11/2023 14:35

2LB, if we don't need the cash personally I would prefer to see absolutely zero further investment from DOID although, with them now having 2 directors on board, I fearful that won't be the case and we will see them buy some more shares.

[adw198] 10/11/2023 11:15

I think the big update we’re looking forward to is the end of year business update that will describe next year as being transformational for the company. ;)

[2lb] 09/11/2023 19:40

Has to be said that this exciting rich news flow period is every bit as exhilarating as the 27 that have preceded it.........

[adw198] 08/11/2023 19:37

Yeah the supposed splits are also eye watering, especially the amount for general working capital

o US$1.1 million for completing the BKM Value Engineering programme;

o US$1.7 million for drilling of high priority targets in close proximity to the BKM copper development project;

o US$1.0 million for permitting for the BKM copper project including securing the Pinjam Pakai (borrow to use) permit from the forestry department along with secondary permits;

o US$1.6 million for drilling to test the potential for high grade extensions of the Beutong Cu-Au deposit at depth; and

o US$6.5 million for general working capital purposes and progressing the project financing, and to cover expenses associated with the Placing.

[2lb] 08/11/2023 19:21

"advisers" have done very well out of that £10m

All, totally coincidentally, Maini's personal contacts.

[adw198] 08/11/2023 18:56

February 2021 we raised £10m to do the following. Has a single objective been positively completed - I’d argue not? Which is actually pretty funny.

“Complete a second phase value engineering programme for the proposed 25ktpa BKM copper project ("BKM"), located in Central Kalimantan, which will include metallurgical and process flowsheet optimisation together with associated operating and capital costs refinement;

· Commence the early stage detailed engineering and design works for the BKM copper project;

· Finalise the key Pinjam Pakai permit (borrow to use) with the forestry department and secure supplementary permits for construction and commencement of operations;

· Secure project financing for construction of the BKM copper mine through a combination of debt / equity and offtake/equipment finance. The Company will also consider an IPO on the Indonesian Stock Exchange and/or a partial asset sale as part of securing the required equity finance;

· Drill test a number of high probability copper targets in close proximity to the BKM copper development project which have the potential to add further resources and mine life to the BKM project;

· Continue community engagement and development work on the Beutong IUP host to Asiamet's large tonnage porphyry copper-gold deposit

· Drilling to test the potential for a high grade extension of the Beutong Cu-Au deposit to depth”

[adw198] 08/11/2023 16:49

There’s been no drilling and no interest that’s resulted in a bid for years - certainly not since the several thousand people protested. For those reasons I don’t think it’s realistic to think a Chinese investor will suddenly appear having failed to do so previously.

They said it would be a focus this year but I never believed that was credible - if anyone was interested they’d have been all ears whenever. I’m not talking about them drilling it this year btw, but separately it would be good to get an (honest) answer why they didn’t drill it having said they would.

If a Chinese partner wants to get involved great but in the continued absence I assign little if any value to it. But I’m pleased we’ve scaled back spending given we have nothing to show for it.