Asiamet Resources Share Discussion Threads

[rainyrain] 02/4/2024 17:45

The feasibility study was a snapshot in time. I would agree with "showing signs of old age" if the Asiamet team had shut down the office and went on a boozey year long vacation, but they've been working tirelessly on improving the inputs!

For example, in the update a few days ago regarding the site access roads and road earthworks, it mentioned potential significant savings compared to the 2023 FS.

They are getting up to date "right now" prices as we speak from the building contractors. Plus the new heap leach facility etc etc yada yada.

So yes the 2023 FS is largely redundant, but a better version can be created!

All imho please DYOR.

[2lb] 02/4/2024 17:17

Two years of his magic has so far taken a smashed out price of 2.1p upon his appointment to a junk price of 0.6p and delivered nothing other than a revised BFS that is now already showing signs of old age.....

[rainyrain] 02/4/2024 17:01

Really? I see the tiniest hint of the green shoots of volume! Sit back and watch McClelland work his magic. If you don't visualise you'll never get, imho

[2lb] 02/4/2024 11:46

Yet another all time low , take a bow Mr McCelland , out of your depth as a first time CEO yet being paid over £500k a year to obliterate value and transfer ownership to DOID. Scandalous.

[rainyrain] 29/3/2024 08:14

Wow HZM is a shocker! Not followed closely as copper is king and it seems the great country of Indonesia is owning the nickel market, but how did they manage to get their numbers so wrong?

[2lb] 28/3/2024 16:14

As an aside it now appears that the contagion all AIM mining stocks have been infected with via the HZM fiasco is now at an end with the final "its over" RNS having been released this afternoon.

The shambolic mess relating to capex on their projects caused a real ripple impact on any and all projects in the financing and capex estimates stage.

[rainyrain] 28/3/2024 14:38

Yes Hegarty is tier one operator. The best decision Manini made was accepting his job offer. But there is no doubt Manini is a tier one exploration geologist, imho. Why has he held on to Beutong for so long? It tells me there's something in the geology there. Yes I know you've read the angry geologist report but essentially they all agreed that in order for an underground operation and the resulting large tonnage to attract the big boys they need to find high grade, so that big deep purple blob on the geophysics image, interpreted as a high grade core, needs to be drilled. If they can ever get back on site that is.

[mount teide] 28/3/2024 14:14

RR - I'm fully aware of Manini's Oxiana background. It was largely what first attracted me to Asia Met.

Unfortunately, subsequent events at ARS over the last 10 years has exposed him as being little more than a bag carrier for Owen Hegarty at Oxiana, the actual talent behind the company's success.

Manini's shockingly poor business management skills were firstly exposed in brutal fashion by the criminals at Aeturnum Energy, and then by DOID, who like Aeturnum and their fantasy land $500m KSK Indonesian stock marketed IPO, have played him like a finely tuned grand piano, at enormous cost to shareholders!

AIMHO/DYOR

[mount teide] 28/3/2024 13:57

RR- On 2nd March 2024 I posted some data published by Zero Hedge:

'Money manager positioning on the CME's copper contract has swung from net long at the start of the year to the largest net short since the middle of 2022, as weak demand trumped supply pressures - funds are adopting an increasingly bearish stance, preferring to focus on a globally weak demand picture rather than odd sign of supply-chain stress.'

I don't offer investment advice since I'm not regulated to do so.

Guessing short term movements in the price of equities, commodities and currencies are a fools game - as evidenced by the calculation - for internal use only - of a leading London spread betting and CDF service provider my son is employed by at a senior level, that 96% of their clients lose money over the longer term!

[mcpaulas] 28/3/2024 13:55

Finance finance thats the only rns that will make any difference to this share.

[rainyrain] 28/3/2024 13:52

Mount Teide since you love talking about Manini did you listen to his interview on Exploration Radio back in 2019? I thought it was great. Many other great podcasts on Exploration Radio, most with like 18 or 25 views, so sad, so much free education imho.

Anyway Manini understands and talked of knocking a project on the head quickly when you don't see the patterns you're looking for in the drill data. Many lifestyle companies don't do this.

Interestingly,he was head of the exploration team that found Sepon working for CRA now Rio Tinto. He was then charged will selling Sepon in 1999 when gold was at $250 and Copper at 63 cents a pound. Tiny Oxiana were the only ones to offer cash upfront, one million with 19 million in payments so 20 million for 80% of 3.5 million ouunes of gold and 2 million tonnes of contained high grade copper at surface. Oxiana then bought the remaining 20% for $80 million.

Times do indeed change.

[adw198] 28/3/2024 13:49

Ok that’s fine. You can continue to come on and take issue with my opinion that they won’t get it financed, whilst conceding you don’t have the first idea of how it will happen. Despite also claiming there are “thousandsR21; of ways.

I don’t know when you invested but this is the key issue right now. Happy to leave it there though.

[rainyrain] 28/3/2024 13:44

How could I possibly have a clue about how they will finance it? What clue do you or anyone else have?

[adw198] 28/3/2024 13:38

If you don’t have a clue how they’ll finance it then you shouldn’t really get so excited about this weeks RNS. It’s basically if we build it we’ll do it this way with these people. Marvellous.

[rainyrain] 28/3/2024 13:29

Mount Teide, aren't you the guy who said a few months back that copper Is going to tank just before it shot above $4 and all the top copper equities went for a trip north? If so, sir, please tell me why I should listen to you?

Adw198 I'm afraid I can't answer your questions regarding finance. Check mate. I guess you've won, and for the moment you are victorious. Maybe they will organise an open top bus parade in your hometown or something.

[mount teide] 28/3/2024 13:19

rainyRain - joined Advn this month - five posts since singing ARS's praises. Where's Montim when you need him?

All the hallmarks of yet another poorly researched bottom fishing trader singing their short term momentum trading narrative.

Since the integrity free Manini started monetising the assets 6 years ago, virtually everyone trying the catch the razor sharp Asia Met falling knife has found to their horror the disingenuous Manini had welded it to a 3 tonne Anvil - as evidenced by the share price since dropping an unconscionable 96.2%!

AIMHO/DYOR

[adw198] 28/3/2024 13:10

Not an issue mate.
I’d rather have some dialogue and hear other views. As I’ve said I’m surprised people think it’s credible we can fund this ourselves but I’ve been equally clear I’m about as far from an expert in raising a a quarter billion to build a mine in Indonesia as you could find!

What’s clear is the debt financing isn’t going as the company planned. So they either completely misunderstood what was required or were telling porkies.

[rainyrain] 28/3/2024 13:06

Please accept my apologies for calling you an edgelord with more front than Brighton, that was harsh and extremely childish on my front, let alone Brighton's.

I understand you're in the DOID taking us out on the cheap crew. Me, I have no idea how this will pan out as the world has changed massively in the last few years. I suppose change is one of the only guarantees in life.

If they had drilled out the precious metals and got a resource on it maybe they could've gotten a stream on the gold? Maybe someone will come in at the project level and do something. As ever, we will have to sit through another quarter, but I'm sure everyone reading this has more important things in life to focus on anyway.

[adw198] 28/3/2024 13:04

Hi Rainy,
If you’ve read my posts, you should have picked up that I’ve been pretty clear that I think the only show in town is DOID buying us out. I think that’ll happen when copper continues to make its move and interest rates fall. Obviously suits them for us to do all the upfront work.

If other posters think its viable that we’ll somehow raise $240m in thousands of ways, which appears to be the official company plan then I think it’s a fair open question to ask how? The context is failing to fund the more economically robust 2019 model. Were those thousands of options not considered then?

How, for example, would selling Beutong possibly solve the KSK funding? My contention is 1 asset from a £15m MCAP companies portfolio isn’t going to raise $240m.

On what planet would a consortium of banks lend to Asiamet, when it’s clear we’ll need several more rounds of funding to get to production. What if that funding didn’t arrive - don’t you think the banks might be concerned about that? And likewise concerned they’ll get their money back IF copper tanks?

If you conclude they can’t fund it then obviously that’s a material consideration when assessing the investment case here. I don’t think any of that should be especially contentious and it’s only my opinion - others welcome.

[rainyrain] 28/3/2024 12:23

Maybe expand on your riddle, stop trying to be an edge lord, and tell us exactly how you think this will pan out?

It seems you have the skills, or maybe just more front than Brighton?

[adw198] 28/3/2024 12:07

If only anyone knew of an Indonesian based company who had the resources to take this to production. Ideally they’d be looking to diversify into green energy.
Such a riddle!

[rainyrain] 28/3/2024 12:05

Who is going to solve for the 240 million? I realise you ask this question in every post you make, but nobody can answer it. The are thousands of potential ways. Someone could come in and finance the EPCM contract, another could finance the power plant etc. It's called a consortium. It's a ridiculous question to ask posters here at this stage, to be quite frank. All imho.

[mostyn] 28/3/2024 11:49

I would agree that this project will definitely get financed and then built. The only question is how much of the company the current existing shareholders, excluding DOID, will then own.

Edit: I actually believe someone will take Asiamet out before this happens, considering the existing miserable market cap, and the alleged level of interest. I know we have heard of the alleged interest seemingly forever, but the copper price and likely shortage makes such a scenario increasingly likely.

[adw198] 28/3/2024 11:46

I have no knowledge whether the “appointments” are solid ones or not. My point is how are they being paid, because this weeks update was somewhat lacking in detail about who is going solve for the $240m elephant in the room. Without that, these lads aren’t doing anything for us.