Asiamet Resources Share Discussion Threads

[bukowski750] 25/6/2024 19:19

For starters you don't know the updated economics. And they don't need to raise $250 million. Go and do some basic research, perhaps after being taught how to read, then get back to us, kiddo.

[meanreverter] 25/6/2024 17:45

The problem for ARS is that, for a company with a market cap of $25m, to raise capital of $250m for a project in a dodgy jurisdiction requires killer economics for its project — not just good economics. That will only be assured by a booming copper price. If you think there is a fair chance of that, then ARS may be a gamble at decent odds. Otherwise, look elsewhere. The present copper price is propitious, but unfortunately not really propitious enough.

[adw198] 25/6/2024 11:33

They stated they want to get something out of BKM and didnt (for whatever reason), that’s largely my point. They said by doing this it would help finance the BKM starter project so whilst the BKZ drilling was great it didn’t help with the stated objective. Perhaps they were too busy updating the market in the $35m optimisation savings they were working on at the time - another RNS that went missing.

The same raise allocated $1m for the permit and about the same for drilling Beutong so 2 more fails (if they even tried).

Proven liars this lot, only those locked in refuse to see it.

[bukowski750] 25/6/2024 10:34

Choo Choo !

[bukowski750] 25/6/2024 10:15

That kind of work, expanding BKM, especially after making the mine smaller and smaller, can literally be done 5 or 7 years after starting production, so no rush!All imho dyor!

[bukowski750] 25/6/2024 10:03

No they never expanded BKM. But with only four holes at different ends of the deposit, how could they? But they got valuable data I'm sure.As you pointed out, the aim of the 2021 drilling campaign was to expand the mineral inventory at both BKM and BKZ, and they hit it out of the park at BKZ, so I take that as a win! But it seems you're strangely fixated on finding and delineating the lateral and vertical edges of the BKM mineralisation, which is cool and all, but there were juicier targets on offer with limited funds!

[lurker5] 25/6/2024 09:31

Been looking at this for at least 15 years - on and off - mostly off. Could be worth buying once finance fixed. But last Optiva valuation was total nonsense - 'forgot' to allow for financing and costs, as well as using inappropriate NPV basis. Strictly 'wait and see'

[adw198] 25/6/2024 09:29

So did they expand the mine life and resource of BKM, or not? Straightforward question so let’s have a straightforward answer.

In answer to yours…

The existing study won’t be financed by Asiamet - I’ve been saying that for at least a year and it appears I was correct, although obviously you’ve said who cares to that which is funny.

The revised study that we have no timeline for and no economics on is obviously a harder question and thus a stab in the dark. But I think my experience of Asiamet means I can say I’d be hugely surprised if we can fund this one too. Hopefully we can get the funding required just to complete the latest study and keep the lads salaries coming.

[bukowski750] 25/6/2024 09:22

I still don't get your point. They budgeted for 3000 meters and had a compelling target at BKZ, which turned out to be a jewellery box. So they only did 4 holes at BKM, which require follow up work,.... who cares?They did the right thing and focused on BKZ and the drilling potentially and likely added over a billion dollars worth of metal to the inventory, you plank!Now back to the main course, is BKM financeable or unfinanceable?

[adw198] 25/6/2024 08:53

The ADHD has kicked in. Certainly not a good day to obsess about my trades in GMET , although you can take that up on that board.
My understanding is they were looking to make the BKM project more appealing - did the drilling manage to extend the BKM mine life and lead to higher annual production?

“Our BKM project is a rare advanced stage copper development opportunity with a high-quality feasibility study that demonstrates a strong production and cashflow profile. Significant scope exists for further enhancing project economics through the successful delivery of current value engineering works and further exploration to add mine life. Completing these programs, finalising permitting for mine development and securing a project financing package to advance BKM to construction ready are key value driving priorities for the Company this year”.

And

“Increasing the mineral inventory further de-risks the BKM copper project as part of the financing process through increased mine life, higher annual production and stronger support for the initial capital investment and any future expansion”.

And

“The planned 3,000 metre drilling program designed by Chief Geologist Patrick Creenaune aims to significantly expand the copper and polymetallic Mineral Resources at both the BKM and BKZ deposits which remain open in multiple directions. Several highly promising targets generated from a review of previous work combined with the geophysical survey data will also be tested. A full overview of the program will be provided shortly”.

[bukowski750] 25/6/2024 08:47

Do you still consider BKM an "Unfinanceable" project kiddo or do you reckon it's turned a corner?Would like to get you expert opinion in light of this new news. So financeable or Unfinanceable?Or have you set your sights on gmets Tungsten deposit ROFLMFAO!

[bukowski750] 25/6/2024 08:39

Define "drowning underwater" kiddo?

[bukowski750] 25/6/2024 08:35

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 08:21

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 08:20

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 08:13

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 08:09

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 07:53

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 07:53

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 07:39

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 07:34

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 07:31

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 07:20

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 14:04

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 13:28

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.