Asiamet Resources Share Discussion Threads

[bukowski750] 25/6/2024 07:39

Define "drowning underwater" kiddo?

[bukowski750] 25/6/2024 07:35

What was the stated aim that wasn't achieved? And what can you realistically "achieve" with two holes in the north and two in the south? Especially when geophysics was showing a jewellery box at BKZ. But I'm assuming you would've ignored that and not found the potential billions in precious metals? Oh you are precious, kiddo!

[adw198] 25/6/2024 07:21

I’m sure you’ll have a great day Bradsjaw / Rainy / Bukowski - you must be delighted to have another geology project to study.
The fact you don’t think it matters that the other 2 couldn’t get financed helps explain why you’re drowning underwater here.

Re BKM 2021 - the stated aim of that drilling wasn’t achieved, yet they never told us. But they can do no wrong in your eyes, hence praising DM for delivering an unfinanceable project. If this new design is so great can anyone clarify why they didn’t do it on either previous study?
To be fair I’d need to see the project economics to know if it’s better or worse than the previous 2.

[bukowski750] 25/6/2024 07:20

Adw198 i predict you're going to look like a right plonker when we eventually get the finance is sorted RNS.....Lol! All imho dyor!

[bukowski750] 25/6/2024 07:13

So in your world "joining the dots" leads to "truth"You can't handle the truth!If you can join the dots so readily and easily to get to the truth, you could be a multi billionaire with that skill !

[bukowski750] 25/6/2024 07:09

I know you are fascinated with the four holes they drilled in 2021 to test for downdip extensions in certain parts of the deposit, but I don't know why you require lab assays that you wouldn't be able to understand and interpret anyway!As per the 2023 FS regarding the two holes in the northeast and two in the southwest "the low grade copper intersected remains open at depth and along strike and requires future follow up work"All imho dyor!

[adw198] 25/6/2024 06:53

Because it’s more time and more money we need to spend before returning to the banks et al.

The 2022 FS took so long partly because of the early involvement of an ITE, which we were told would fast track the financing process. And guess what, as per the market hasn’t been told the truth, ie that we couldn’t raise the money - well, not explicitly, but by joining the dots. Same happened with the BKM drilling results in 2021 that never got released. It’s an increasing pattern on AIM to not release bad news.

We haven’t got the resources to keep delivering unfinanceable studies. Suspect a raise will be coming within 3 months tops, probably much sooner and possibly within days.

[bukowski750] 25/6/2024 06:53

The waste mined has gone from 52.5 million tonnes down to 20 Mt! That is significant! Strip ratio of 0.72 fantastic! There could be up to a 40% saving on capex if my math and calculations are correct, which I must warn you probably are not!Imagine they could get capex down from $236 to say $145, that would be much sweeter!All imho please DYOR!

[bukowski750] 25/6/2024 06:39

If it is indeed true that they couldn't raise $230, so what! This seems like less risk to all involved, with the potential to upgrade in the years ahead! And don't get me started on BKZ, lol ! All imho!

[bukowski750] 25/6/2024 06:34

Last capex was $208.7 million excluding $26.7 million contingency.Will be interesting to see what Darryn's optimisation work has done to that capex!What do you reckon folks as a guess on the updated capex? Hopefully our resident mine finance expert Adw198 has a view ROFLMFAO !

[adw198] 25/6/2024 06:31

Another FS, with no timeframe for when that’ll complete. I won’t pretend to understand the implications on the project economics, but it’s now even more apparent they were incapable of raising the $230m the last FS required. Which shouldn’t be a surprise to anyone objective.

Still, great news for the ITE and other advisors who get another well paid ride on the merry go round.

[bukowski750] 25/6/2024 06:20

Wow, that is a major slimming down from the 2019 and 2023 FS, circa 10,100 tonnes of cathode per year! Although obviously the unused copper still sits there for the future!On the plus side, upfront capex should be slashed! This is effectively a brand new FS coming up, imho! Top work from CEO Darryn in my most humble of opinions.

[bukowski750] 24/6/2024 13:04

Doubt many are interested at this point. Most LTH are probably on zimmer frames by now. Are management coming from Jakarta and Melbourne? If so, one hopes they have something half decent to say!

[adw198] 24/6/2024 12:28

Anyone attending the AGM? I’m not,but I’m intrigued to know if they’ll show shareholders the courtesy of explaining why they want a mandate to double the shares in issue.

[bukowski750] 21/6/2024 13:08

From atlanticcarbon.comGeologyAnthracite is a value-added product in the industrial supply chain and is not used for power generation or primarily as a fuel source.Anthracite or 'hard coal' is a high-quality coal mined in relatively few areas in the world. Northeast Pennsylvania is the only region of anthracite production in North America and contains the world's highest quality anthracite reserves. Anthracite is also be found in Siberia as well as small amounts in South Wales, China, Ukraine, North Korea, Vietnam and Australia. The anthracite region of Pennsylvania is an excellent example of intense folding of sedimentary rocks, which combined with higher-than-normal temperatures to convert bituminous coal to anthracite. Anthracite represents coal at its most metamorphosed, and accounts for just 1% of all coal reserves in the world.Anthracite is the cleanest solid fossil fuel available – it is clean and smooth to touch, leaving no soot residue, and produces no smoke when combusted. Anthracite has the highest carbon content of any coal (86-92%) and very low sulfur levels making it a highly sought-after carbon source in the steel and ferrous metals industry. It is very dense, much harder than ordinary bituminous coal, and has a semi-metallic sheen to it. Anthracite is also an extremely efficient energy source, with low moisture levels and a high calorific value.

[bukowski750] 20/6/2024 11:46

This bit is interesting, especially with regards to the Port Talbot steelworks in Wales:"All forecast steelmaking capacity expansions in the US and Europe are for EAFs, and UHG anthracite from the US will be a crucial supply source for EAFs globally.In addition, the governments in a number of key jurisdictions, specifically the UK and German governments, are incentivising the conversion of Blast Furnaces to EAFs."

[bukowski750] 20/6/2024 11:05

Smart people running DOID imho!

[bukowski750] 20/6/2024 11:03

This move from our largest shareholder is interesting. Branching out to the USA. From www.deltadunia.comPT Delta Dunia Makmur Tbk (Delta Dunia Group, IDX: DOID), through American Anthracite SPV I, LLC, a subsidiary under PT Bukit Makmur Internasional (BUMA International), has entered into a Stock Purchase Agreement (SPA) for strategic acquisition of Atlantic Carbon Group, Inc. (ACG)1, the second largest UHG anthracite producer in the US2. The transaction is expected to complete in June 2024. Further details of the transaction will be announced upon completion of the transaction.The USD122.4 million deal secures ownership of four producing UHG anthracite mines in Pennsylvania. After the acquisition, the Group will become a key UHG anthracite producer globally. The transaction further diversifies the Group's business geographically and into future-facing commodities, in line with its transformation strategy.The transaction is financially attractive due to its favorable valuation, leverage, and earnings impact, and it broadens the Group's relationships with key customers and stakeholders. With the transaction, the Group assumes control of ACG's operations. UHG anthracite is essential for the commercial production of low-carbon steel (LC Steel) and can reduce carbon emissions from the production process by up to 74%3. The Group's anthracite reserves are sufficient to support mining activities for more than 25 years, and in turn, production capacity of up to 25 million tons of LC Steel annually.Ronald Sutardja, President Director of Delta Dunia Group, stated, "This transaction is a significant milestone for the Group. Upon completion, we will achieve a number of our strategic objectives. The Group will become a mine owner for a commodity critical for the production of LC Steel. We will expand our geographic footprint into another key mining region. And, the deal further diversifies our revenue towards our ESG target of lowering our thermal coal revenue to below 50% of our total revenue by 2028."TRANSACTION BOOST FOR THE GROUPThe Group's expansion into the US enables it to capitalize on the increasing demand for UHG anthracite, which is used in electric arc furnaces (EAFs). Over the past decade, anthracite exports from the US have grown at a compound annual growth rate (CAGR) of 10.6% from FY2014 to FY20234. All forecast steelmaking capacity expansions in the US and Europe are for EAFs, and UHG anthracite from the US will be a crucial supply source for EAFs globally. In addition, the governments in a number of key jurisdictions, specifically the UK and German governments, are incentivizing the conversion of Blast Furnaces to EAFs.The transaction is supported by the Group's strong cash position, and USD750 million syndicated financing facility with PT Bank BNI (Persero) Tbk and PT Bank Mandiri (Persero) Tbk. The ACG operations are expected to add USD120 – 130 million of revenue per year5. These projections are also incremental to the Group's revenue guidance for FY2024 which was released previously based on existing operations.SUSTAINABILITY TRANSFORMATION REMAINS ON TRACKThe transaction advances the Group's strategic goal of diversifying its portfolio and reducing its dependence on thermal coal. With the addition of the ACG operations, revenue from future-facing commodities will increase from 19% in FY2023 to 28% in FY2024.In addition to cutting carbon emissions through the use of UHG anthracite in EAFs, ACG operations enhance environmental outcomes with sustainable mining practices that remediate historical environmental damage. ACG rehabilitates land mined over a century ago, transforming it into areas suitable for development, recreation, and conservation. This includes reopening old mining tunnels to remove remaining materials, implementing erosion and sediment control measures, reshaping the landscape to its natural contours, and reforesting areas with grass and trees

[bukowski750] 19/6/2024 10:09

One must consider macro here also. All the talk on twitter X is of World War 3, and a depression so bad it will make the great depression seem like a summer picnic under an oak tree.Dollar collapse, BRICS. Hardly a time to be allocating capital one may think.So many conspiracy theories, some completely bonkers, others semi plausible.And on and on and on it goes. Maybe it's time to take a sledgehammer to my phone ROFLMFAO

[adw198] 19/6/2024 09:19

It’s not really a debate you’ve just told me my figures were outdated and thus the underlying point wrong / flawed.
Except you dont have any alternative figure and concede you dont have a clue about whether the savings are even more than the $34m I took off. Nice contribution!

It’s all semantics though, to avoid the underlying point though which is how a company of our size can raise that money (or a similar amount). See through value was the only reason why DOID walked according to you - yet somehow we’ll find a new partner with the MCAP half what it was.

Good luck with that strategy!

[dorset64] 19/6/2024 09:08

I give up, it's like debating with a 5 year old with diarrhea.

[adw198] 19/6/2024 08:27

Relax mate, I’ve just said they’ll struggle to raise tens of millions from a raise / JV.
You appear to want to quibble my figures because you think they’ll be saving much more than my example numbers, ie you said my argument was flawed because my figures were wrong. Saving > $34m would be an excellent outcome for the company, but apparently you think it’ll be even more. We’ll find out shortly as that would be worthy of an RNS.

[bukowski750] 19/6/2024 08:11

Maybe it would be a good idea if the company got the market cap higher by releasing good news. Just a thought, I'm not a businessman.

[adw198] 19/6/2024 08:07

Ok mate, so you dont have any idea how much the revised capex will be, but you know it’ll be less than $200m because you said that “for the sake of argument” figure was outdated. The capex figure announced last year was $234m (including contingency) so I’d only taken off over 10% and $34m. It’ll be an excellent result if they can save more than that with no impact on production. Let’s wait and see.

The underlying point that we’d struggle to raise the 30% with this mcap remains.