Asiamet Resources Share Discussion Threads

[horneblower] 14/6/2018 22:17

Thank you tomcorvid and the Manini, We will be holding 80% for at least 10 years.

[knokke1] 14/6/2018 22:17

@finncairn

the PB podcast from 7 June talked about 500m vertical depth (could have been a different drill, idk)

[knokke1] 14/6/2018 22:08

@jlondon, nice summary and thanks for sharing. Point 17 - institutions (sophisticates, investors) are turning their gun sights on the sector (copper)

[the manini] 14/6/2018 22:07

Just as a footnote to HB's post coz I know how the derampers love to jump on these things. The divestment back down from 80% to 49% won't happen until after the tenth year of Beutong production beginning. So we'd get a full 10 years of 80% of Beutong profits

[tomcorvid] 14/6/2018 22:03

We’re going straight to 80%. The money is waiting for completion, it’s a private deal the indo govt have no input, see my previous post for explanation

[mr roper] 14/6/2018 21:52

My understanding is that the move to 80% is just paperwork. Currently being held up as the other party is trying to do this in the most tax efficient manner.

[horneblower] 14/6/2018 21:49

fbrj,

You are right to point out that there is still a long way to go for Beutong.

The RNS of 8th Jan announced the granting of the IUP, but that was to PT Emas Mineral Murni ("EMM") which is Asiamet's local joint venture Company. The relevance of who owns what is a bit cloudy, possibly deliberately so, as the Gov of Ind is inevitably rather touchy on this aspect.

Payment within three months of A$2.875M may or may not have been made. An RNS announcing 60% ownership may come but not until the GOI is ready to sanction it. It is inevitably very "political" and hence risky, but I am happy to let our experienced board hustle through in their own time. You cannot hurry these things.

As I understand it, even if we get to 80% ownership of Beutong, we will have to relinquish ownership down to <50% within 10 years. Local rules.

I still reckon 25p by August.

[tomcorvid] 14/6/2018 21:47

Also, I’ve been asked to pass on that the hold up on 80% beutong is due to the other party setting up tax efficient structures and makin things complicated. The hope is that it’ll be sorted by AGM.

Oh, and the terms for raising the stake were satisfied by the indo feasibility study two years ago - it was just the production licence that was outstanding.

[finncairn] 14/6/2018 21:38

From LSE Dasain.
Off Topic
Opinion:No OpinionPrice:12.00

RE: Today’s drill

Today 17:22

Not sure at what angle this drill was carried out. Judging by the map, it is not vertical so the depth is somewhat misleading. The 1000m drill should give us a much better indication of mineralisation at depth.

Of more interest is the fact that this drill was the first, I believe to be targeted at the zone between east and west porphyries and indicates the potential that the two are actually one ore body. If that is the case then the resource will increase substantially in size without considering depth at all. Add that in and this could well be Cascabel sized.

[finncairn] 14/6/2018 21:33

Arsmad this was below 10p in the last two weeks with all those big sells (9.8p) why did you not top up then? Dropped the ball there or no nothing about the company & are de ramping, perhaps a bit of both. As for Beutong it's worth remembering this is a marathon not a sprint we need the big rig in to drill deeper but as someone has quite rightly pointed out is this enough to improve the JORC? I think more drilling across Beutong & not just 8 drills would not do ARS any harm but more drill holes might require additional funding something I think stakeholders would not mind.

[tomcorvid] 14/6/2018 21:24

Interview on proactive with PB confirmed

[jlondon] 14/6/2018 20:51

Peter Bird, CEO of AsiaMet Resources gave an interview on 7 June 2018.
Link:

Some highlights: Please listen and check as its an audio interview

1)Deliver part Beutong results, 600m when complete.
2)2nd drill now underway. Using 3rd party.
3)Job to build upon 2.3m copper reserve.
4)6x BKM resource
5)SIGNIFICANT ON A GLOBAL SCALE.
6)"Should LOOK at Wafu, Newcrest, LOOK AT CASCABEL, This is the sort we evaluate."
7)Very significant project. Porphyry - big system, multi-million tonnes.
8)Outcrop surface not at great depth. Get to mineral- real.
9)Port, electricity 60km away.
10)Greater infrastructure, close to surface- Better Economics.
11)Systematically evauate, grow that.
12)40 to 80%- IS UNDERWAY
13)Explorer to producer.
14)Next couple month-news
15)3-6 mths deliverables
16)Finance-development BKM. Table parties get involved.
17) Institutions TURNING their GUTS out.
18) About copper mkt - supply etc
19) NOT CLOSED OFF-VERTICAL OR HORIZONTAL
20) M & A ACTIVITY INEVITABLE.

ARS-14 June 2018 - Beutong drill results: Intersects 456m of mineralisation at Beutong.

[mrpiggy] 14/6/2018 20:06

To answer your question fbrj the clip you posted WAS the Beutong extraction license granted RNS, the feasibility study is much further down the road but we should have had the 60% ownership RNS unless it was delayed for whatever reason.

[mrpiggy] 14/6/2018 19:56

Beutong Project and can increase its interest to 80% based on various payments and milestones. A consideration to the value of A$2,875,000 will be due within 90 days of the grant of the production IUP to increase its interest to 60%. Completion of a Feasibility Study and a further payment of A$1,500,000 are the final conditions to increase its equity interest to 80%.This was from the 8th Jan IUP Licence RNS and according to this we should have had an increase to 60% of Beutong licence by mid April..... maybe they didn't cough up the required A$2,875,000!Seems strange we haven't heard anything as yet!

[just joined whetstone] 14/6/2018 19:46

I purchased my original shares at 10p on the 27th February and that's why I stated I would love it to go to 8p so I can reduce my average price. Got the tip off another share chat.

[fbrj] 14/6/2018 19:44

I've been a lurker and an initial investor here for the last 6 months. Since then I have bought at over 12p, averaged down and currently I'm just ahead of my b/e of 10.75p for my 1m+ holding.

Obviously, today's RNS seems to me to be pretty significant but one matter is slightly nagging me about the several comments above about increasing the ARS interest in the Beutong Project to 80%. They all sound as if it's a done deal - pony up the cash and, like Monopoly, GO straight to 80%.

However, unless I'm missing something, I thought the 8th Jan RNS stated the following:

"Asiamet has a 40% equity interest in the Beutong Project and can increase its interest to 80% based on various payments and milestones. A consideration to the value of A$2,875,000 will be due within 90 days of the grant of the production IUP to increase its interest to 60%. Completion of a Feasibility Study and a further payment of A$1,500,000 are the final conditions to increase its equity interest to 80%."

So, my questions are:

When was the production IUP granted?

and

When was the Feasibility Study completed?

Can all those long(er) term holders (than me)
explain.

Thanks

[arsmad1] 14/6/2018 19:05

Totally agree 8p or 10p would be a great buying price to top up.

[tektonik] 14/6/2018 18:45

HG, I actually agree with your view on 4.5km across 8 holes not being enough to materially improve the JORC for a deposit of this scale - especially considering it remains open at depth and in multiple directions. It was fantastic to get these results through today and whilst I wasn’t expecting a large hike in the share price I was expecting reaction. I am surprised by a ‘no reaction’ from the market on this occasion. My thoughts going forward on this is that ad-hoc drilling or RNS releases on this deposit will equal no reaction from the market. To your point - clarity around strategy and purpose for Beutong is key. The roadmaps for the individual projects and entire operation will be well thought out and documented. At this stage, I don’t think the team have the resources (financial and physical) to be able to progress this at a pace where the benefits of doing so exceed their costs. We are still a relatively small explorer transitioning to developer. BKM also remains the priority and Peter has said on multiple occasions that they are trying to systematically build value across the portfolio with BKM being critical to funding further operations.I’m 29 and boy do I wish I had more funds to put into this right now. A costly trip to Vegas last month means that’ll be me holding my investment until the Autumn at least!

[dorset64] 14/6/2018 18:45

lol Mr R, caught bang to righrs there!!

[mr roper] 14/6/2018 18:26

You forgot to log out and revert back your other avatar name. Might want to note that for the future.

[just joined whetstone] 14/6/2018 18:19

8p would be good but happy with 10p MR R

[mr roper] 14/6/2018 18:10

You were waiting for 8p a few weeks ago, Arsmad. Now you’re hoping for 10p. The share price seems to be going in the wrong direction for you, although your hopes may be serving as a useful contrarian indicator

[arsmad1] 14/6/2018 17:50

HIGHLY GEARED lets hope we can both top up at 10p after Beutong 80% is announced.

[highly geared] 14/6/2018 17:43

I think the challenge for holders and the larger market is to make sense of the Beutong strategy and the timing. We understand they are drilling 8 holes for about 4500 metres but to me, that doesn’t seem a lot in terms of providing sufficient data to provide an improved JORC and therefore expand the resource officially. I absolutely get it that deep drills will significantly expand a conceptual resource beyond the previous 2013 drilling that provided the resource to date. What I think the market needs is a little more clarity on the drilling programme and outcomes with a critical eye on whether they need more drilling resources on site to shape the outcomes.

In my head , we should have an upgraded JORC by year end and a Scoping Study/ PEA by mid 2019.

On the face of it , it’s 5 months since the production licence was granted and the reality is we’ve only just had the first proper drill result back.

The result is great but I think the market will wait until it all comes together by means of a new Jorc and metallurgy tests before reflecting in the share price. My question is whether 8 drills can enable an upgraded Jorc or is this programme simply to confirm the existence of deeper copper and linkages?

I’d personally like more resources and cash thrown at Beutong but appreciate BKM/KSK is of equal/greater priority.

Don’t get me wrong, this is my biggest holding my miles and I’m in for another 3 years minimum. I may increase my holding.

[arsmad1] 14/6/2018 17:25

FANTASTIC NEWS All we need now is the 80% Beutong to be announced, and as usual the share price will drop ,this share has one big seller in the background, after the 80% news i will be ready to top up at 10p