Asiamet Resources Share Discussion Threads

[mr roper] 06/6/2018 14:42

hxxps://www.investing.com/commodities/copper


CU/lb 3.252 +0.053

60% of our mkt cap would be generated as free cash flow from Bkm in the first year of mining at the copper price above.

we're going to start moving soon...

[mr roper] 06/6/2018 13:50

Cu 3.24/lb. Almost at the BKM PEA price now.

[mount teide] 06/6/2018 13:39

Spot Copper continuing its strong upwards first week of June trend - now at $7,140/tonne($3.24/lb) - $0.43/lb(15.1%) above the average 2017 price.

A test of the $3.31 late December 2017 high(highest price since 2013) could be on the cards - driven by fears of industrial unrest at Escondida, the World's highest producing Copper mine - the positions of the unions and employers at Escondida look to be miles apart according to the FT.


Copper rises above $7,000 a tonne on Escondida strike fears - FT



The price of copper rose above $7,000 a tonne on Tuesday on fears the giant Escondida mine in Chile could be hit by further industrial unrest.

The main union at the BHP-operated mine fired the starting gun on the latest round of wage talks last week when they presented contract demands to management.

They are demanding a signing bonus of around $34,000 per worker, or 4 per cent of the dividends paid by Escondida to its shareholders — BHP and Rio Tinto — in 2017. That would represent the biggest one off payment ever made by a Chilean mining company, according to local media reports.

On top of that, the union has also requested a 5 per cent increase in salaries, citing among other factors the increase in copper prices.

The union represents around 2,500 workers at Escondida, which is the world’s biggest copper mine, accounting for around 5 per cent of global supply.

BHP now has 10 working days to respond to the offer, which analysts said was likely to receive a cool response.

The Anglo-Australian miner has said that it must protect the competitiveness of Escondida not just in the short term but over the next five to 10 years and the decades to come.

BHP has invested in around $8bn in the mine over the past five years to maintain annual output at more than 1m tonnes. To secure a return on that investment, BHP has said that it must raise productivity and cut costs at Escondida.

Most of the best metal has been extracted from mine, forcing BHP to mine low grade ore from two pits that are between 500 metres and 620 metres deep.

The failure to reach a deal with the union last year led to a 44-day strike that rattled the global copper market.

The union brought the dispute to end by invoking a legal provision that extended the current contract until July 2018.

If the two sides can’t reach an agreement by the end of July and a period of mandatory mediation fails to produce a deal, another strike could start in August.

In attempt to to reach a deal, BHP has said that it would provide the same health benefits to new and old workers.

[highly geared] 06/6/2018 13:38

If the share price is crashed , I will buy another 500k-1 million shares.
Nothing has changed ,it’s mainly people who have no patience to invest and let it unfold. It will take another 12 months for the value to crystallise here but it will.

[mr roper] 06/6/2018 13:34

we^ve had these periods before. I'll never forget what seemed like an eternity to break 3p. Then, when the dam broke, we were just shy of 6p in the blink of an eye.

Frustrating it is but patience is key. Go and have a gander at the liberum note again.

If we sort out the financing for BKM in H2, move to 80% of Beutong and manage to a) join up the east and west and b) extend the resource at depth, i don't think it's unreasonable to think we could see an share price in the 30's by the close of the year.

[arhaych] 06/6/2018 13:05

Not much we can do about it MrP!

It has been a frustrating 2-3 months since the 14p highs, but just need to stay patient, and let the positive newsflow reach us.

Cu meanwhile, continues to climb towards $7,200 per tonne.

[europa79] 06/6/2018 12:23

TLOU is one

[cyberbub] 06/6/2018 12:18

Which one Matt?

[tektonik] 06/6/2018 12:02

5m options exercised

[mattjwhity] 06/6/2018 11:41

Poor placing from a popular aim company this morning a stark reminder of how important the management and leadership of a company is.

[edjge2] 06/6/2018 11:17

That is some focus

[mr roper] 06/6/2018 10:05

Anyway, to focus the mind... we should be getting some news between now and the end of the month...

Beutong
- working interest increase
- assays from met drill
- assays from the drill aimed at extending the resource east
- 2nd drill arriving on site to drill deep - 800-900m

BKM
- Feasibility updates - reserve update etc- Completion of FS

KSK
- first results from BKW/BKS/silver mountain
- drilling of other prospects

Corporate
- AGM
- new recruits

[mr roper] 06/6/2018 10:03

lol! knew it!

[mrpiggy] 06/6/2018 09:56

Spoke too soon Mr R! :@(

[mr roper] 06/6/2018 09:31

seller on holiday today?

[arf dysg] 06/6/2018 09:12

Me, I just buy when money falls out of the sky. At least it's predictable.

[mr roper] 06/6/2018 08:40

good buying volume early doors today.

[mr roper] 06/6/2018 07:53

At 3.24/lb bkm would deliver 60% of today’s mkt cap in free cash flow in its first year of production. Mind boggling

[mr roper] 06/6/2018 07:50

It’s coming. Copper moving nicely again