Asiamet Resources Share Discussion Threads

[tektonik] 07/6/2018 11:25

I'd like to highlight this very informative post from Kjawoogie detailing a recent conversation he had with Peter. I suspect a lot of the messages here will be consistent with the Vox podcast later!

I had a really good catch up with Peter Bird this morning. We covered quite a bit but it’s fair to say there is an awful lot going on in the background.
Recent Share Price
Peter said that they were aware there was a seller (hopefully the trade on Friday was the last of that). He said it is to be expected that some decide to take profits from 1-2p entry when the price has been over 14p (I’ve heard the seller related to the trade on Friday needed cash). The consolidation is to be expected at times and he was not worried about it at all. I have also heard that Tony’s view is the same and Tony has a lot at stake and certainly isn’t losing any sleep. They have a string of news coming shortly as things work through. They are very confident the positive momentum will continue.

Reaction to BKZ
Peter said they discussed this within the team about how this would be received by the market. Their views ranged from a big move to not doing much. His view was it was a brilliant initial resource and really interesting from a Geologists viewpoint. The reason he thinks the share price reaction was muted was due to the initial size of the resource not moving the needle of the institutions compared to the potential size of Beutong. However we are not done at BKZ and BKM by a long way!

Steve Hughes/New appointment/Make up of Board
I asked why the RNS was released at 8.00 am and not 7.00 am. He said it was supposed to have been released as normal at 7.00 am. They had to release the news when Steve left as it was a material event and whilst they really did want to align it with a new appointment sometimes these things just aren’t possible.
Peter then referred back to the Birmingham presentation where he said the companies board structure was going to change to reflect the change in the company moving to a producer. This is not something we should be worried about. Peter then referred to how the board was made up. With Steve Hughes that made 4 Geos. This is not the correct spread of skills and experience for the board so expect new appointment/s to balance this. This was a real insight for me into Asiamet growing up and also whilst we theorise and complain about missed targets I got an overwhelming impression that we are in very safe hands – Peter and Tony get it, they just do. They are positioning us for the next stage of the company.
He said they are forensic in their review of potential board members and also the new appointment has to work their notice periods etc. I get the impression the first new appointment is pretty imminent. They have also taken steps to strengthen the financial accounting given the sums that will be expended once they are in development.
Steve Hughes is going to be involved for the foreseeable future. Without taking anything away from Steve he had a very good second in command in Bowoh Cosnanto who does most of the leg work. They will be looking to beef up this team as well. What was clear was that Steve’s role had grown and is almost 2 roles – Geology and the Administration of the drilling campaign/assays etc.

Beutong
I said that some shareholders were concerned over the time it’s taking to move up to 80%. This is nothing to be concerned about. Asiamet are doing their diligence before handing over the A$4,375,000. The company structure is also a little bit complicated but I get the impression it’s close.
I think the strategy has changed to release the assays in one go from Steve’s original interview where he said they would release 200m sections. I think the reason for this is the company debated this and their view is that it will be received better in the market if the market has the overall picture. If the first 200m was good or bad the market could incorrectly assume the remainder of the hole was the same etc.
My impression was we might move to 80% first then release the assays. I just think that will have more impact but that could be wrong.
Peter was saying 2 significant takeaways from the 80% announcement were:
1.They become the major partner in decision making
2.For circa A$4,375,000 they get 960,000 tonnes of contained copper – what that does for Asiamet shareholders in a strong copper market will be very interesting to see! He said this was a fantastic deal no matter which way you look to value this.

BKM BFS
The BFS remains on schedule. Peter is currently sleeping easily about the BFS.

Further Drilling KSK
Planned for later this year but could be earlier if logistics allow

BKM/BKZ Deeper Drills
They have targeted the shallow metal because it can be heap leached and avoids the need for processing. They know there are deeper targets and they will definitely come back to them. The priority first is to get BKM through BFS and to drill Beutong i.e. walk before they run.
The drilling is all about risk v reward. Deeper drills in Beutong which will go deeper and possibly hit mineralisation which isn’t leachable are worth doing because of the sheer scale of Beutong (6 times larger than BKM).

Corporate Inflection Point
Peter talked about how Asiamet is now at a Corporate Inflection Point, something I chatted to him about when I saw him in Birmingham. As I said before Asiamet is growing up and making the transition to a more institutional audience. I expect the company to move towards this audience. That is not at the expense of the very loyal retail shareholders, just reflective of the companies growth.

Partner Discussions
The discussions are ongoing and there is a lot of interest.

Baroi
Licence is still being worked on. It’s a gradual process

AGM 24th June
Peter, Tony and James are coming over for the AGM. Peter is keen to arrange a meeting with investors either after this or during that week. Sasha will no doubt arrange this.

Summary
I really enjoyed my chat with Peter. He was incredibly confident, assured and they are thinking ahead all the time. Peter and Tony are positioning the company for the next stage of it’s development in every sense of the word. I’m very excited to see how we make this transition.

[edjge2] 07/6/2018 11:20

monttim best to monitor share price especially on open, bargains being offered. 10p is good with RNS queue IMO. Potential 10-20% gain IMO.
However an easier and more immediately productive strategy was to buuy KAZ on the dips or cash in on the spike to buy oils like PMO... ah hindsight!
My ISA is an ars mainly so patience required

[amaretto] 07/6/2018 11:03

Whilst he can't give us anything market sensitive he can certainly leave us salivating in anticipation of what is in the pipeline. Probably wouldn't hurt right now to give us some momentum as we head into such an important and exciting period in the Asiamet journey.

[monttim] 07/6/2018 11:01

Mr roper, don’t worry, with all due respect PB is a class CEO, He is relaxed with is going on.
Remember, these guys are building a business. They don’t micro look at daily share prices.
The projects will deliver the share price.
Stop looking at the daily share price.

[littlemadam] 07/6/2018 09:15

No, he wouldn't announce anything that is price sensitive in a podcast. Would be given more than a slap on the wrist. But I will be surprised if we don't get an announcement or two before the AGM in a couple of weeks, to allow some back-slapping and a few smiles!

[mr roper] 07/6/2018 08:55

wouldn't be a good look announcing market sensitive information on a podcast though....

[zho] 07/6/2018 08:39

>> I recollect Steve saying 2-3 weeks back in mid May.>>

Yes, but he also said "I'm not really going anywhere" in his 23/5 Proactive interview ;-)

[mr roper] 07/6/2018 07:59

Thanks, 2lb. Good to know.

[2lb] 07/6/2018 07:56

Peter Bird will be on VOX today to update on all current activity

[mr roper] 07/6/2018 07:43

That first Beutong drill news should be coming very soon. I recollect Steve saying 2-3 weeks back in mid May.

[mr roper] 07/6/2018 06:21

Cu at 3.28/lb !

[pyglet] 06/6/2018 21:05

Just scrolled back and seen your theory behind the seller. I don't agree with you that they need to sell the shares rather they just transfer them. All seems very unnecessary and highly unlikely IMO.

[pyglet] 06/6/2018 20:59

Why can't you say who you think it is? It's only a guess - hardly market sensitive unless you have insider info.

[mr roper] 06/6/2018 18:23

Sells outweigh buys and we're up on the day. All is not quite as it seems. I feel a change in the weather. ....

[mrpiggy] 06/6/2018 18:01

Who is selling????To answer your question pyglet no one knows for sure, one or two of us have plausible theories but it is market sensitive info so no one knows. If you scroll back to yesterday's posts I substantiated my theory with a link to a Financial Times article I read. I also asked 2LBs opinion of who he thought was behind all the selling and he gave me a comprehensive answer but in short he thought it was a multitude of reasons.... you may have to scroll back a few days to find that one. One thing virtually all of us agree on is that the bulk of the sells are coming from one source and as it is a crazy, irrational and downright stupid time to sell you have to assume they are selling because they have no option which adds weight to my theory. Hope that helps..... we pygs have to stick together! ;@)

[arf dysg] 06/6/2018 17:35

CC, of course human psychology is a funny thing and people can kid themselves that something is valuable, just because it's expensive. The opposite is of course also common.

[the manini] 06/6/2018 16:30

That's been suggested practically every time we're waiting on a piece of news that takes a little bit longer than the average day traders attention span and each and every time the company delivers

[charles clore] 06/6/2018 16:14

Arf - or perhaps people are thinking to themselves hello, that's a darned low price for something worth a billion dollars or more. Does it suggest something is wrong and thats why buyers are holding back?

[the manini] 06/6/2018 16:06

That's a 60% discount BEFORE while we 'only' own 40% of Beutong!

[mr roper] 06/6/2018 15:51

arf, according to liberum Asiamet is sitting at a 60% discount to valuations of it's peer group. I can sense the pendulum is about to swing back this way. When this moves it really moves....

[mr roper] 06/6/2018 15:48

wouldn't surprise me if we got another tick up before the close.

[arf dysg] 06/6/2018 15:45

Mr Roper (14063) "Frustrating it is but patience is key."

The well-known Mr. Buffett said that one shouldn't try to predict the movement of prices, interest rates, etc. Instead, one should look for value and buy it.


For example, we have bought a part of ARS, and ARS is about to buy a majority interest in Beutong, getting nearly a million tonnes of copper for a bit less than $5m. Some simple arithmetic tells me that that is amazingly good value.

[mr roper] 06/6/2018 15:05

all is not quite as it seems....;0)

[uapatel] 06/6/2018 15:03

Think you are correct there Mr Roper, bought more below MM mid price.