Asiamet Resources Share Discussion Threads

[adw198] 17/10/2024 21:33

@Doreet This time last year you told us we didn’t need another raise and finance would be in place within 3-6 months.
Given we’re now another 2 waves of funding in with a forecast date of circa 6-9months to receive finance (if we do, having clearly been shown the exit last time), can you explain why the prospects are better than you thought then?

How many have you taken in the Retail offer?

[mount teide] 16/10/2024 17:25

D64 - its no half story, the point I was perhaps rather clumsily making, and an inescapable fact, is that with respect to the shareholders funds Manini has taken out of the company over the last decade, the amount he has spent on purchasing shares is a small percentage by comparison.

So, unlike ALL his shareholders he is still well up today.

[adw198] 16/10/2024 17:11

No, I don’t given the wealth / salary / bonuses of the people involved. That’s subjective though so you’re certainly entitled to take comfort in it. As I recall you did on previous Director buys, every single one of which is currently showing a hefty paper loss. This isn’t a new position we find ourselves in.

I think we can all agree this’ll be resolved one way another within 12months so hopefully we can all find something more worthwhile to concentrate on.

Good luck to us all!

[adw198] 16/10/2024 16:38

Yeah got it. I don’t regard *yesterday’s* investments as “vast monies”.

[dorset64] 16/10/2024 16:16

Andrew, read it again, the total shares bought yesterday by management was some $300,000.

[adw198] 16/10/2024 16:08

“Not one person mentions the vast monies paid by current directors *buying more* shares for themselves”

Must admit I also misunderstood you Dorset and also thought you were referencing ydays buys, not buys made years ago. Especially because you don’t want to focus on the past.

[dorset64] 16/10/2024 15:37

hTTps://thatstocksguy.substack.com/p/asiamets-final-push?utm_source=post-email-title&publication_id=1504413&post_id=150254547&utm_campaign=email-post-title&isFreemail=true&r=19nkzn&triedRedirect=true&utm_medium=email

[dorset64] 16/10/2024 15:35

MT as you know I said look at the huge monies put in by (the 3) management, Further increasing their existing Holdings. You again replied with just half a story that suits your current rhetoric, ie only stating the increasing sums added by DM & TM, but omitted to add Bruce.I say again, some $300,000 put in by existing management is no small sum, no matter how you seek to dismiss. A somewhat childish action on your part there MT.

[mount teide] 16/10/2024 10:29

D64 - with respect - 'Not one person mentions the vast monies paid by current directors buying more shares for themselves'

Manini and McClelland put in circa $50k and $25k respectively.

In Manini's case, never mind his Salary and Directors Fees, the subscription shares he bought cost significantly less than the Performance Incentive Bonus he trousered in 2022 and 2023 - lord knows for doing what? Source: Latest Annual Report

By any objective benchmark, to be raising more money at a 95% discount to the share-price some 5 years AFTER he told the market he was now going to change strategy and monetise the assets is totally unacceptable.

Since Manini became involved in the company he has been responsible for massively diluting shareholders investments by increasing the number of shares over 6 fold to 3 billion.....mostly, over the last 5 years to raise the cash to keep the lights on and him and his friends in the Melbourne Country Club lifestyles they have become accustomed to at their long suffering shareholders expense.

AIMHO/DYOR

[bsg] 16/10/2024 10:03

I'm sure you'll be able to buy below 0.77p in the not to distant future.

[adw198] 16/10/2024 04:27

I guess we’re all entitled to have a different view about the current position and progress in the last 12 months. I don’t place much weight in Director buys given their track record.

My logic on the retail offer is I don’t know where the interest is going to come from to buy at 0.77p when that price has been available for the last month with little interest. Not a biggie either way, just an opinion with rationale.

[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?”