Asiamet Resources Share Discussion Threads

[rainyrain] 14/5/2024 07:03

I'm not one for giving advice. But my only friendly and honest advice to Adw198 is: never go into business fella! All imho!

[rainyrain] 14/5/2024 07:00

Are you saying optimisation in mine design is bad? Is it better to opt for what you know to be an inferior design? Just trying to see things from inside your head fella, ti's all.

[adw198] 14/5/2024 06:57

Let’s stick to what I’ve said Bradshaw, but you can talk to yourself about academic heap leach projects if you want.

I’m sure DOID on whoever else takes the project to production will be pleased of the work the Asiamet shareholders have paid for in refining the 2022/23 FS, which itself was reworked from the 2019 one because it couldn’t be funded. I wonder how much all this optimisation work is costing.

There’s no viable strategy for us building this. It’s why there’s not one documented.

[rainyrain] 14/5/2024 06:46

So we've got a heap leach designed by the world's best heap leach designers. Designers from the top copper Country in the world ie Chile.

A design that is cheaper and quicker to build. But I'm guessing Adw198 says it's best to stick with the more costly and tine consuming 2019 design as that was the 'better' feasibility study?

Any other pearls of wisdom fella?

[adorling] 14/5/2024 06:38

No doubt a sub 1p placing and more dilution will be coming soon to keep the Chairman and CEO’s lifestyle uninterrupted as the past has proven?

[rainyrain] 14/5/2024 06:35

The only thing crystal clear, Adw198, is that absolutely nobody values your input! Imho of course. Have a nice day fella!

[adw198] 14/5/2024 06:26

Over a year on from the 2022/3 Fs and we’re back in the optimisation cycle and getting quotes. Meanwhile, the financing news which the 2022/3 FS was supposed to accelerate has dried up. Crystal clear the banks weren’t interested in fronting $230m to a company who’ll need another 10-15% dilution to simply survive another year paying for all this technical work.

Same old playbook of trying to divert attention, precisely why they name dropped Beutong.

[rainyrain] 14/5/2024 06:15

This is what I've been thinking all along: the bank or money lender won't lend until the main contractor is signed up. The main contractor responsible for earthworks won't sign up until they know the earthworks plan for the heap leach.

Massive step forward! Looks like new Capex incoming! All imho DYOR!

[rainyrain] 13/5/2024 14:53

This new Manyar smelter in Indonesia smelter will absorb 1.7 million tonnes of copper concentrate that would have otherwise have been exported.

[rainyrain] 13/5/2024 14:48

One must consider Cobre Panama shutting down plus Freeport's new smelter in Indonesia means less concentrate from Grasberg. I believe it's ramping up now and it will be the biggest smelter in the world. Wonder if one day they will take that high grade core of Beutong?

[dorset64] 13/5/2024 14:31

I just read a post on X that copper treatment prices have gone negative. If that is correct and smelters are paying for copper just to keep their plants open, it shows this copper crunch has only just started and there is simply not enough current copper to go round. What an environment to be in right now, come on Manini let's have some tangible news to really set the share price alight!

[rainyrain] 13/5/2024 13:38

One would think an update is due regarding the "advanced discussions" with potential partners interested in fully financing the dedicated biomass power plant.

Moreover, I would welcome news on this "highly reputable" contractor who will potentially do the mining services for the first 5 years, plus site earthworks, mine pre production development etc etc.

[jimbo310813] 11/5/2024 13:15

it's not showing on the LSE site - i think is an error.

[markth126] 11/5/2024 07:53

What is this about special dividend on the Rns news feed on ADVFN? I can't open those as behind a pay wall? Or is it just rubbish

[adw198] 10/5/2024 15:39

If the 2021 HoA deal with DOID had completed and we’d got debt finance to match, we’d pretty much be producing into this copper bull market right now. We’d be spitting out so much cash on BKM and still have the BKZ upside.

Oh well!

[2lb] 10/5/2024 15:24

Manini and creative in the same sentence? LOL.

But yes, absolutely cashing in one one of KSK or Beutong to then have the firepower to develop the other in anger would be a very strong option.

A few of us have been pushing them to do that for years but then they always know better....and look how well that has turned out.

Copper settling above $4.60 and still absolutely zip on terms of tangible progress and now six months of silence other than "we sampled some rocks".

They are nothing if not consistent.

We should see the output of the chat with Charles Archer next week , I wonder if they have insisted on sign off before release?

[adw198] 10/5/2024 15:14

Yeah it was more the fact they guided year end being the target for a financing decision, ie it definitely won’t be before then and we’ll need operating costs fund's by then.

I appreciate others might have a different view, but if we can’t finance it then a sale is the only option isn’t it. In which case let’s not bother with more dilution along the way.

That said, I don’t know if there’s a more creative option of pretty much giving away KSK for a % free ride on the profits. Again, I suppose that assumes we want to keep going with Beutong.

[2lb] 10/5/2024 14:38

There isn’t really anything else they can say as regards going concern. That section is always tricky to write and auditors have got a lot tougher on it since 2020.

It’s either a corporate event , a financing to production package or DOID final dilution to ownership and they are never going to talk about the first or last on that list because neither are the official strategy.

The other two however are clearly far more likely

[adw198] 10/5/2024 14:32

I just read the full report and the Going Concern section to me implies they’ll be another round of DOID dilution because they reference a financing decision is targeted by year end. Given we know how efficient they are around hitting deadlines we can confidently say that won’t be achieved and we’ll need more money by then in any event.

When the DOID takeover finally comes I imagine it’ll be a recommended offer with some supporting logic that financing wasn’t viable and this is the best offer etc etc.

[adw198] 10/5/2024 08:17

I know you did. Just like you told everyone about all the other top ups miles higher. Looks like you got some at was hopefully near the bottom, so fair play there and hopefully that makes you less underwater. Tip of the hat in some ways for retaining the faith even when everything you expect to happen doesn’t transpire.

The Beutong bait is interesting. Sums up AIM that tbh et raise $1m to drill it on 2021, don’t bother and don’t explain where the money went instead. I think we’re now 5 years since the protests and no evidence we’ve been back since.

[dorset64] 10/5/2024 08:09

ADW - 'Bragging about not averaging down'...You complete numpty, I've posted many time when I've bought an extra million here & there, in fact only a couple of weeks ago I posted my buy at 0.0635p.Do keep up old boy.

[rainyrain] 10/5/2024 08:03

Adw198 nobody here is interested in your quite frankly weird beef with Dorset m8, so give it a rest and let's talk bizniz.

Even getting Geologists on the ground at Beutong, walking around and doing what they do (hopefully in a good sun hat), well, that would be a massive W in itself!

Watch this space, I guess!

[jedi k] 10/5/2024 07:38

htTps://moneyweek.com/investments/commodities/industrial-metals/the-price-of-copper-has-risen

[adw198] 09/5/2024 21:20

Claiming a paid for bit of PR demonstrates evidence of being able to raise $230m is peak Dorset.

Good thing is he committed to a £100 charity bet if Asiamet don’t raise the money this year. So at least some minor good will come from his misplaced arrogance and huge losses.