Asiamet Resources Share Discussion Threads

[dorset64] 16/10/2024 00:20

Another piece of the puzzle put together and another step towards financing.Not one person mentions the vast monies paid by current directors buying more shares for themselves but, instead of noting where asiamet are as of today, prefer to find issues with everything going forward. I also expect the open funding to get filled too given we are so close now to seeing quantifiable progress on all fronts.

[adw198] 15/10/2024 19:37

The DOID comments (below) deserve a tip of the hat to their consistency :)

Joking aside it just highlights we’re a year and $4m on with no progress on financing beyond getting rejected at the first stage from the bank.

15th nov 23

“We continue to support Asiamet as it continues to advance the important BKM Copper project through the next stages of financing and engineering. Copper remains an important strategic metal and is central to the energy transition initiative. Our various teams are working closely with the Company to ensure it every success. This placement supports that commitment by DOID."

Todays RNS

“We continue to support Asiamet as it continues to advance the important BKM Copper project through the next stages of engineering and financing. Copper remains an important strategic metal and is central to the energy transition. Our teams are working closely with the Company to ensure its every success, and this placement further demonstrates DOID's commitment."

[letsnotpanic] 15/10/2024 18:24

What will the market cap be after dilution (assuming the public offering is maxed out?)

[adw198] 15/10/2024 14:24

Hard to know how long the bank process will take, ie how much re work will need to be done. On one hand we’re not even at the May 23 position when we released the FS and were approaching banks etc - currently we’re reworking a FS. As I say though, hopefully some of the initial door opening won’t need to be started again from scratch. We’ll see…

[2lb] 15/10/2024 14:04

I expect the retail offer to be fully taken up.

They shouldn’t need a full year cover and can wind certain costs down in any case so it’s a positive (or as near as we ever get) to see DOID limited to 41%

Price is irrelevant other then optically.

It’s all about timing , and as the RNS states , everything has taken considerably longer than it should have…..

[adw198] 15/10/2024 14:01

Agreed @2lb.
Better price than I expected and less dilution. I’m not entirely convinced that another years worth of money, but probably not that important given what I expect to happen (ie the DOID takeout) in any case.

Can’t see Retail banging down the door at 0.77p.

[2lb] 15/10/2024 13:39

Could have been worse......

[not guilty] 07/10/2024 09:46

This was not the director changes that everyone wanted. Lolz. This train is chugging toward the cliff edge and it will not stop for anyone. Jump.

[adw198] 04/10/2024 20:52

This is what I said a week ago. You never answered and here we are…

“As for a raise taking us to construction well first that depends on IF we get it. You were wrong about that last year so at least consider you might be wrong again. In anycase my belief is a deal for construction wouldn’t include Asiamets standard operating costs. I don’t think Tony’s salary will be included in the capex, or however much we pay the IR to pump it. So we’ll need money to cover out corporate costs for the next few years irrespective of whether the mystery lead bank pony up the rest. Happy to be corrected if I’ve misunderstood and the $150m or whatever in fact includes those costs. Is that what you think?”

[adw198] 04/10/2024 20:39

I don’t think CAPEX will cover Asiamets usual corporate costs, things like Tony’s salary, the office rent, or other ventures such as Beutong. Therefore my point has been they’ll be more need for funding outside of the $150m capex. After a predictable visit to a few cup de sacs you wanted to take the conversation to, it seems you now realise we’ll still have our own bills to pay.

So where will that funding come from?

You keep believing though mate, it’s served you brilliantly so far.

[dorset64] 04/10/2024 20:29

Andrew, you're confusing yourself now.Of course anything at Beutong will not be covered by financing at BKM, what planet are you on?What I, 2LB have answered is your question of salaries being covered by BKM financing, it normally is so now you realise you were wrong, you're actually trying to now say will it also cover the beutong costs, of course it won't.Seriously Andrew, and as politely as I can say it, you obviously don't have a clue how mining, CAPEX, contracts or, for that matter, even how business works so why show yourself up by making such stupid comments. 'Will the off take money pay for Beutong' lol

[adw198] 04/10/2024 18:30

Dorset, I’ve got no problem if I’m wrong. I’m having a polite exchange with someone else who is capable of expressing their view. I’ll be surprised if our Beutong (as an example) costs are covered by an off taker but *IF* that’s what 2lb thinks I’ll ponder and reflect.

It’s a theoretical question in anycase, because I’m very confident we won’t have funding in place this time next year. You were confident it would be done between January and March 24, so whilst all opinions are welcome, yours coming with a great big clown emoji mate. Especially because you can’t even understand why DOID might take us out as cheaply as they can.

Funny that whilst i admit ive never been involved in the construction of a mine in Indonesia, you scoff and badge this as ignorance. Perhaps you could share you own experience in this sphere? Or is it just reading about the lassonde curve on Telegram?

[dorset64] 04/10/2024 16:12

Andrew, you're now being told from all corners that any funding would include, as standard, the salaries until it is built.Laughable that you harp on about a single point for so long, you're told you're wrong then eventually admit you have no experience or idea of how such companies operate.I've heard of banging your head against a wall, but you must have such a bump on your face that you can't see fact from fiction.Just accept you're wrong, again.

[adw198] 04/10/2024 16:03

@2lb
I’ve never been involved in a company at this stage so happy to be educated. But that does surprise me- for example we pay money each year towards Beutong - are you saying that would come out of an off takers upfront investment? My assumption was the money for the construction would be ringfenced and standard operating costs are for Asiamet to manage.

[2lb] 04/10/2024 15:42

Dear God, Peter Bird.

Being the fake Asiamet CEO is a great job isn't it, first Bird, now Mclleland.

>£500k a year to delivery nothing other than share price destruction year after year.

FWIW on the other point, I would expect any project funding package to 100% cover all the operational and ongoing coats of the business - that is standard to my mind in any such arrangement.

Whatever happened to the idea of a sale of partial sale of one asset (KSK or Beutong) to fund the development of the other? Always seemed the preferred option to me...

[jimbo310813] 04/10/2024 13:39

There'd be multiple share price 'pings' for sure if Bird was to return...

[adw198] 04/10/2024 09:14

I disagree the Asiamet corporate costs are baked into the bank loan and offtake agreements. I’m equally happy to be corrected if that’s wrong though.

I am also looking to the future, I just see it differently because I see a DOID takeover. You laughed at that, so we’ll have to see who laughs last.

[adw198] 04/10/2024 05:52

If we get funding then who pays for our corporate costs for the next few years before production? More DOID dilution gives them the keys.

Personally I don’t think it’s credible a bank + offtaker will lend us $150m. It’s why they keep mentioning potential partners, forgetting that “see through value” was the excuse given for the lack of any deal to date. DOID didn’t want a JV when the share price was over 2p but now it’s .65p someone else will - sure :)

As for Beutong, that’s in the bin until and unless they can explain why nothing has happened since the protests there in 2019 and actually articulate a plan.

[mr roper] 03/10/2024 20:40

This has gone down the pan since Peter Bird left...maybe they should bring him back...

[dorset64] 03/10/2024 20:18

Of course the next raise would be less than .9p, that's not exactly rocket science Andrew.Take a look at the lassandro curve, right now post PFS/pre-funding we are at the lowest ebb in terms of share price but despite this, we still have a willing partner willing to put more money in. Add to that I think, and would hope, at this price the directors would also buy some and if they do, I may even buy some more myself as, as per the well walked path of lassandro, any hint of funding and the prices shoots up and into construction.And don't forget the interest at Beutong plus the wider area of BKZ etc etc, after all this is just the starter project. My one mistake in hindsight as ignoring the lassandro curve myself, and not selling after the first discovery, waiting a few years and buying back in just about now, perfect timing.

[2lb] 03/10/2024 18:52

Yet another HALF A BILLION shares at 0.6p would raise $3m, or nearer $2.5m after the greedy advisers have had their fill for doing nothing.

Assuming zero exploration activity that should be enough to get through to the mythical project funding.

So, we would then have THREE BILLION shares in issue and still have a MCAP of £18m

Simple question then is what would a funding deal value the business at.

You would like to think it would indeed be multiples of the 0.6p level.

Then again, this is Manini we are talking about. This is a man who on one hand revels in telling us that Asiamet is potentially worth "hundreds of millions if not billions" but on the other hand will hail a deal that values it at £18m as "a great deal for shareholders". His duplicity knows no bounds.

Another long , hard , cold winter awaits shareholders during which the hapless management will be awarded yet more "performance shares"

[adw198] 03/10/2024 16:37

I explained my views on this last week - which obviously went right over your head. Instead of engaging you got childish because I said

“Every time they’ve put money in it’s been for less than the previous tome.
2.20p
1.15p
0.9p

I’d suggest the imminent buy in will
be lower again“

In my opinion they do want and will take us out. They’re just getting it on the cheap. What they would have had to pay in 2021 was miles more - they’re playing their hand well.

Your view is they want to own increasing chunks of the business but then stop before they hit 50% - for reasons you’re unwilling or unable to articulate. You might be right and I might be wrong, but at least I explain my logic. And I’ll happily accept if I’m wrong and they fund the next 12months before a bank lends us $150m and we build a mine, whilst also finding the money to pay the corporate overheads whilst the mine is built and the debts are repaid.

But you stick to the “lols” and the blind faith based on what you’ve researched aka been spoon fed by the company. It’s not like you’ve been wrong at every stage before is it :)

[dorset64] 03/10/2024 15:15

LolDo you not think DOID would had taken us out by now if they wanted to, instead of being a supportive partner. Sure, I believe they obviously would be the go to people for the next raise but the difference here to most other explorers, I'd that they have a 'funder' until the bank funding to build the mine is in place.Look at 90% of all other explorers on lse and the only way the can get funds is by going to the market. Next raise gets us in to the banks, the funding for construction is raised and the share price will be multiples of today's price, fact imo.