Asiamet Resources Share Discussion Threads

[not guilty] 18/2/2024 15:42

Financial dingbat - you have no idea about anything, not just financing. You say there's no need to drill anything and then you go on to say how prospects are open along strike and at depth! Classic lol!! I can only imagine you seething right now as I point out things that should be staring you in the face, just as I pointed out how FS number 2 would affect the share price. You're an awful trader, a terrible thinker and a pathetic human being to boot!! You do make a world class clown though - Honk Honk!!

[bradshaw980] 18/2/2024 15:34

Anyway groundbreaking stuff Adw198 has just taught us all that funding is a risk for junior mining companies at historic lows. Maybe he should get into rocket science as well as teaching us plebs about global finance and how stuff gets financed in Indonesia.

[bradshaw980] 18/2/2024 15:24

How will we get the money? I don't know m8. Where will we get the money from? I don't know m8. Yeah but we need like 200 million innit so Where will we get it from? Honestly I haven't got a clue m8. OK but how will we get the money? I have no idea m8. OK that's grand but who will lend it to us? Not sure m8. Why would anyone lend us 200 million tho? I don't know m8, maybe they won't. OK if they won't how will we get the money? I'm not sure m8.

Are we there yet?

[sos100] 18/2/2024 15:10

Dorset- your a good guy and you carry on buying and I guess you will breakeven one day but you can forget making substantial profit on this shares......

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"Hopefully the update will drop this week and specifically spell out exactly what's already been completed in the run up to mine construction and exactly what's left to do."

Getting the finance in place would have been helpful -nowhere near this and can't see this ever happening(at least while remaining listed🤔)

[bradshaw980] 18/2/2024 15:09

For reference and clarity when I said maybe you should sell your shares and Foxtrot Oscar you nob, that was not investment advice and was my humble opinion!

As 4 Adw198 the broken record on steroids: I have no idea where funding is coming from or what will happen. What I do know is from reading the technical reports which if you had bothered to read you would know what happened on the last round of BKM extension drilling, specifically on page 15 of NewPro's 2023 FS report: they drilled 4 holes 2 in the Northeast and 2 in the southwest to test for down dip extensions of the mineralization before heading over to the jewellery box aka BKZ. They hit low grade copper but "remains open at depth and along strike and requires further follow up work"

But the BKM heap leach will produce a little over 156.3 thousand tonnes of cathode over its life, no more drilling is required. Not a massive project but a foot in the door and infrastructure in place for the second stage.

All imho DYOR!

[dorset64] 18/2/2024 14:53

MT, good to see you still about fella and, although we very rarely agree on anything, I trust your health is now good & absolutely alive & kicking for a long time to come.

[dorset64] 18/2/2024 14:50

Interesting thoughts on both sides of the argument. Whichever is correct I believe we should be getting an updated and more indepth schedule of what we've achieved, what we've yet to do and, hopefully, how long it will take.Last weeks dip due to a person selling all of his aim shares, not just asiamet, gave us a new low and, on the back of that and if nothing more than my ocd for round numbers, I again bought a fair chuck just for that reason. I'm in for millions of shares already so buying hundreds of thousands more at the latest all time lows will not hurt me and, as I still hold, made sense to me.Hopefully the update will drop this week and specifically spell out exactly what's already been completed in the run up to mine construction and exactly what's left to do.Once it drops that should answer most I'd not all the topics being discussed this week, let's hope it does.

[bradshaw980] 18/2/2024 14:40

What is funny tho is we have an arcm idiot on here talking about a lack of drilling when since 2021 we hit it out the park with thousands of meters of world class data including circa 100m at circa 12 gram gold equivalent, and arcm have put forward since 2021 a 4.3 meters and two one meter assays for a grand total of 5.3 meters of assayed medium grade core! Honestly m8 as MT would say "are you taking that material on tour" ROFLMFAO seriously GTF outta here kiddo

[adw198] 18/2/2024 14:36

When you’ve finished rolling around the floor laughing Bradshaw, perhaps you could tell us how you think we’ll raise $230m and our own funding requirements? Or just restate what you admitted about now knowing about financing? Which for a company seeking financing leave a void in your investment decisions.

[bradshaw980] 18/2/2024 14:29

Where would DOID drill you nob ? BKM has all been measured for the heap leach, there will be lots of copper left behind and it doesn't need any more drilling to deliver the project in the FS its essentially been drilled out. Why would DOID drill a polymetallic projec in BKZ when they've never drilled a polymetallic project before, Asiamet would be better off doing it.

As for the idiot who thinks management have cut a deal with DOID and want the share price as low as possible maybe you should write a novel, a thriller, call it melt, Then sell your shares and Foxtrot Oscar you nob.

All imho DYOR !!

[2lb] 18/2/2024 14:21

Pretty much everyone can now see Manini for what he is.... ...

[adw198] 18/2/2024 14:10

In November 2021 we were told

“DOID through its strong financing capability and relationships (especially in debt and project finance) will assist the Company in delivering a project financing solution that will ensure the project is fully financed through to production”.

27 months later we’ve apparently not even “applied”; for bank financing and have reported a single indicative term sheet for offtake. And instead of the $50m contribution for 51% of KSK they’ve instead managed to bag another 15% of the whole company for $7m. And this is all after apparently amazing drilling results as BKZ - not that they could be quantified. What we do know is the BKM drilling led to nothing they felt worth of a market update. Weird one that!

Meanwhile the Sleeping Giant of Asiamet aka Beutong appears to have gone from a powernap to a coma. Nothing at all to do with several thousand people protesting there in 2019 though. :)

Does anyone still believe the story here and if so could you let me know what it is?
As far I as I can follow, it’s to borrow an unsecured $130m from a banking syndicate, fund (some of?) the rest from off takers - all whilst copper is on a sustained run below the metrics used in the revised FS. Which as I’ve tried to explain is considerably less attractive than the previous FS that didn’t get anywhere near being financed.

It’s a comic book story at this stage!

[mount teide] 18/2/2024 13:53

The one abiding memory, from a rich smorgasbord of material, many will probably always retain of the amazingly thick skinned Manini, is the breathtakingly insincere market presentation, where he cheerfully described the industrial scale capital destruction 'deal' he made with a 'carefully' selected strategic partner, the internationally renowned scam artists at AEturnum Energy, as a mere "hick-up!"

That the share-price has since dropped 90% speaks volumes about his completely shot market credibility.

Manini has trousered lavish Directors Fees and Expenses for a decade, in return for burning through £50m of shareholders funds and delivering a 50% drop in the share-price, before inflation adjustment. Nice work if you can get it !

[2lb] 18/2/2024 11:21

That is exactly the plan being played out in plain sight ably assisted by the management on separate incentive plans in my view. DOID want the price as low as possible , management want the price as low as possible , shareholders are nothing more then an irritation these days having served their purpose in being bled dry to get everything to this point.

[not guilty] 18/2/2024 10:42

This is a serious issue and not hypothetical at all. It's 100% fact. There has been no exploratory drilling at any of Asiamets projects since 2021 and indeed since DOID got involved. DOID are headquartered in Indonesia, BUMA are their principal subsidiary and a mining contractor, with 12000 staff and 2500 units of heavy mining machinery also based in country. You would assume they could spare 40 staff and 2 rigs to prove up the resource and make it more attractive for the banks to lend. It would leave them with 11960 staff and 2498 units of heavy equipment to maintain their other commitments. One can only assume they don't want to add value to ARS and are only interested in walking the price down to take it out as cheaply as possible. IMO there's no other explanation possible.

[bradshaw980] 17/2/2024 19:02

Listen Lil Bro I'm not going to get into a hypothetical discussion regarding DOID's intentions as none of us know. What I will say tho is this mineral field is the dogs gonads on steroids and you ain't seen nothing yet ! All imho DYOR!

[not guilty] 17/2/2024 18:31

Come to think of it your largest shareholder has revenues of close to $2b for last year alone and their largest subsidiary, a mining services company, own over 2500 units of heavy machinery. You would think they would want to drill the hell out of your assets in this period - they have the finances and equipment to do it - and prove up your resources. It's almost as if they want the share price to go down. Who would benefit from that I wonder...

[bradshaw980] 17/2/2024 18:24

Huh? I'm simply saying local support for a mining operation is the most important aspect. I'm not expecting the local community to sort out the finance you melt.
Incidentally, I saw a great piece recently about the top 30 potential copper mines and the reasons they have problems, for example glaciers in the Andes or some kind of environmental issue, but by far was the local community against the project, especially in Peru funnily enough so be careful in that jurisdiction. All imho!

[not guilty] 17/2/2024 18:05

You were of the opinion earlier that getting the locals to sort it out was the best option! Keep em coming, you're hilarious! Honk Honk!!

[bradshaw980] 17/2/2024 15:56

I'm ofvthe opinion that they will get the thumbs up from the credit committee and then get the final permit! All imho and DYOR!

[not guilty] 17/2/2024 12:24

I would say you are spot on there ADW, and that the next chunk of cash will get them another chunk of ARS at a greater discount than the last. Which was $4m for 10.5% if memory serves. This would count as bleeding the existing investor base dry in my eyes.

[bradshaw980] 17/2/2024 11:56

For transparency as I know Mount Teide may be watching when is said buying DOID is probably a smart move I must state that is entirely my humble opinion, and it is certainly not investment advice or a recommendation to buy shares, and I am not a qualified financial advisor!

[bradshaw980] 17/2/2024 11:51

Buying DOID is probably a smart long term hold. There was an Indonesian news article a few weeks back, the accuracy of which I can't ascertain, but it said:

EmitenNews.com - Six Sis Ltd is the collector of Delta Dunia Makmur (DOID) shares. The company, based at Baslerstrasse 100 4600 Olten, Switzerland, is known to hold 5.04 percent of the company's shares.

The transaction was completed on January 30 2024. The purchase of 343,511,600 copies, aka 343.51 million copies, was fully assisted by Bank HSBC Indonesia. So, with the completion of this transaction, for the first time Six Sis controls the company's shares.