Asiamet Resources Share Discussion Threads

[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.

[adw198] 03/10/2024 12:10

Copper flying and we’re drifting having just signposted to the market that a placing is incoming to keep the lights on.
They’ve pitched it as a placing to see us through to next September, so if we presume we’ll need another $4m ish it’s going to take DOID super close to 50%. Perhaps the Directors will weigh in heavily this time at a big discount to average down.

The end game is in sight here, this looks like the final placing before the takeout.

[adw198] 27/9/2024 08:19

I wasn’t claiming it’s rocket science mate, don’t get silly. Why not address the underlying point rather than try to nitpick with a statement you infact agree with. The underlying point is they are taking each slice cheaper which rebuts your contention that they would have just
bought us out when it was trading at 2.20p if that’s what they wanted to do. I wouldn’t have taken 2p then, I’d grab their hands off for it now. But I’ll ask again, why do you think they want 49.9% but no more?

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?

It’s perfectly valid to say IF we get the financing deal we’ll massively re rate and thus future raises would be much easier and miles better terms. But to pretend we’ve got enough money to see us through at a corporate level doesn’t make sense to me.

[dorset64] 27/9/2024 08:01

The next raise will obviously take us to construction as it takes us to credit approval. Once credit is approved then construction commences so your thoughts there re wrong.As for the price any raise will obviously be at a lower point as the price is lower, so again blatantly obvious other that you seeking to say 'told you so', it's really not rocket science Andrew.

[adw198] 27/9/2024 06:44

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 the meantime Asiamet shareholders who won’t be taking this to production continue to pay for the revised work. DOID know what they doing. If I’m wrong and they don’t want to take us over for a pittance, can I ask why they don’t?


You’ve said the next raise “will take us through to credit approval and, ultimately mine construction along with off-takes” but we spend about $4m a year so it’s extremely optimistic (or a massive investment) to think the next raise will take us to construction. It’s pretty much the exact same debate we had this time
last year when you argued we didn’t need a raise and would have all finance in place within 3-6 months. I’m not point scoring simply highlighting it’s the same guff they told us last year only for an even cheaper price.

[dorset64] 27/9/2024 06:33

I still very much doubt a full takeover by DOID other than a full backing of a willing partner. Such funding received will take us through to credit approval and, ultimately mine construction along with off-takes etc.If DOID wanted full ownership they would not be putting in a few $m here & there they would have bought outright by now. What they are doing is ensuring Asiamet survive all the way through to mine construction of the first project to which creates profits and an opening up of all the other areas. I would far more have Asiamets relationship with Doid rather than Phoenix's with NIU or, to the extreme HZM.

[adw198] 26/9/2024 17:45

Cash balance must be running on fumes, so I’m expecting the next red carpet placing for DOID within the next week or 2. Maybe 0.65, badged as a great deal and enough to take us through to a finance decision.
My hope is the copper rally prompts the full takeover and we can all put this behind us.

[adw198] 19/9/2024 19:14

Agreed.
The last few years have all been a precursor to the inevitable.

[adw198] 19/9/2024 17:40

Yep. All very well dismissing these allegedly low ball offers, but let’s see what the imminent DOID buy in values the company at. And after the next raise it’ll be apparent it’ll have to be the last before they hit 50%. So what happens then?

[not guilty] 19/9/2024 16:13

It is a slow motion take over whereby a greater proportion of the company will be subsumed by DOID for each transpiring capital raise. Repeat ad infinitum.

[bsg] 19/9/2024 12:24

I imagine they'll get it all for a song, wipe out all investors in the process. Then make a tidy profit for themselves. That's business, as the say.

[septblues] 08/9/2024 17:45

Grasberg copper mine in Indonesia is doing fine with good metrics