Asiamet Resources Share Discussion Threads

[jlondon] 15/6/2018 12:01

By chance, I just saw Richard Knights* tweet, 3 hrs ago, Fri, 15 June 2018

"Big copper intersections at Asiamet*s Beutong- 456m @ 1.06% Cu equivalent with the 600m hole ending in 1.14% Cu. Resource likely to grow. Nor many exploration co*s hitting these kinds of interesections." RichardKnights@LiberumKnights https//twitter.com/LiberumKnights/status/1007525398303924224

Comment:
So, Beutong*s hole 1 results - higher grade as it deepens ie at 600m @ 1.14% Cu.

[mr roper] 15/6/2018 11:37

Patience is all that's required. TM and PB deliver what they say. Just a waiting game now.

[bubblingup] 15/6/2018 11:25

Know what you mean Mrpiggy. Feeling a bit impaled after a top up first thing this morning. But hey, better having the golden tickets in my breast pocket than the price totally running away from me and feeling all bitter and rueful.

[highly geared] 15/6/2018 10:43

Jlondon
Excellent posts.

To clarify earlier uncertainties around increasing to 80% ownership;
Go onto the ARS website and read ‘key metrics’ for Beutong. It clearly states Tigers has satisfied development milestones required to increase ownership to 80% having completed an Indonesian feasibility study.

So, I suspect it’s down to completing the paperwork and handing over the cash.

Beutong currently has:

93 MT Measured and indicated Cu ore at 0.61% Cu
418 MT inferred Cu ore at O.45% Cu

511 MT total . This ignores the Au/Ag / moly credits for Cu equivalents.

So, the drilling should, be about:

- increasing the overall resource toward the magical 1 billion tonnes (means a doubling from where we are now but if the drill bit finds Cu down to 800-900 metres and linkages, this is entirely possible.
- improving the amount of indicted status
- grade improvements

So , for me, it’s back to what the 8 drill programme will deliver against the above backdrop + the metallurgy testing which also appears initially very positive.

[jlondon] 15/6/2018 10:23

Forgot to add: BEUTONG

AsiaMet*s Resource at Beutong is CLOSE to surface. That sets it apart for CLOSE TO SURFACE copper resource.

SOLGOLD
As I said the share price was 1.5p at the initial placing. It drifted to 1.2p but very hard to buy any meaningful amount except the 1,000+ area. This was prior to drilling the 1st hole.

As news gets out especially to the wider community, then it will gradually be in the news.

Solgold was London South East top of the chat boards during the time of the 1p>1.45p as drilling was taking place.

No one is enlightening anyone on other forums as to Beutong and what Peter Bird, CEO on 7 June 2018 said nor Manini via videos.

So, one has to wait for value or not to out.

I notice that people only understand if the title is, for example: Beutong, the NEXT WAFU OR SOLGOLD? People appear not to understand subtle lingo and more importantly to CHECK and evaluate BEUTONG and Wafu-Newcrest /Cascabel-Solgold initial DRILL RESULTS. So research is lacking on the other forums.

Share price is dependent on VOLUME.

Dyor. Please check. Discussion only.

[mrpiggy] 15/6/2018 10:10

All is brilliant here apart from the one thing that really matters to shareholders.... the share price Hasn't anybody noticed we are down today or daren't anyone mention it in fear of a slating. Let's all huddle together and keep warm so we can forget about the naughty share price .... Jam tomorrow!I've got my tin helmet and my flack jacket on! ;@)

[jlondon] 15/6/2018 09:45

Beutong
Some thoughts:

Peter Bird in his 7 June 2018 Interview mentioned Wafu-Newcrest and Cascabel [See my last post for the note on this].

Beutong will have 8 drills, the 1st of which has been completed.

WAFU-NEWCREST
Link: www.solgold.com.au/presentations/
See Mar 2016 Solgold Corporate Presentation

Page 21-Current grades. One will notice from this chart that even Las Bambas has grades of 0.6% Cu. Look at the grades from thereon which go lower. These are Andean copper deposits in Peru, Chile and Ecuador.

Page 49-WAFU
Right chart: WR328: 597m @0.57% g/t Au & 0.97% CU.
WR333: 727.5m @0.69g/t Au & 1.39% CU
WR337: 802m 1.13g/t Au & 1.76%CU

GOLPU-2010 501Mt at 0.95%CU and 0.54g/t Au
=8.8MOZ and 4.8Mt CU

[SO INITIALLY 3 DRILL HOLES which is standard. The award winning Escondida geologist said he can tell with 1 hole result. In terms of porphyry*s eg Alpala-Cascabel > Solgold it was said that the further they go down, it appears to get higher grades. One can see from the above Wafu drill results that it appears correct. However, usual caveats apply]

<>FAST FORWARD- SOLGOLD PRESENTATION MAY 2018 on www.solgold.com.au/presentations/ CLICK TO READ

Page 25:
GOLPU -2016 [6 years on from above chart]

1.000Mt @0.9% CU & 0.6g/t Au

ALPALA-CASCABEL>SOLGOLD PLC
2017 1,080Mt 430Mt at 0.8% CuEq Ind 650Mt 0.6% CuEq Inf

[So both projects are at the 1,000 Mt level which is 1 Billion tonnes of ore at 0.9% Cu for Wafu and Alpala-Cascabel 1,08Bt @0.68% CuEq [Per 3 Jan 2018 RNS: Maiden Resource Statement {MRE}]

Share price of Solgold: History
Start off at placing price of around 1.5p and rose initially to 14.5p as Alpala was being drilled.

2016- Maxit Capital raises capital at above mkt price and this time, the share price rises to a high of 46p area.

2018-15 June 2018 Solgold share price is 22p, MKT CAP £373 million.
52 week high 41.5p and low 20p. Investors are waiting for an updated Maiden Resource Statement for Alpala-Cascabel with PFS and FS at the end of 2018.

If one does pro-rata simple cals, one will see the HUGE MKT CAP when Solgold*s share price reached 41-46p at its height.

It came close to what the CEO said about re-rating to $1b dollar cap. $ is in US$ as all commodities are denominated in US$.

ASIAMET-
The CEO / Manini has mentioned from recall about potential $1 billion co. So that is standard if the copper resource reaches the 1 Billion tonne mark and with the initial grades of Hole 1 at 456m of 1.06% CuEQ, it is encouraging.

Hole 1, Beutong was drilled to 607.8m End of Hole and was still in "pervasive copper/silver/gold/moly"]

The Hole 1, Beutong ARS RNS of 14 June 2018 also mentions open and consistent with Peter Bird*s 7 June 2018 Interview.

LIBERIUM
Today, 15 June 2018, Liberium issued a re-iterate note on ARS after the said Beutong Hole 1 part result yesterday, 14 June 2018.

Just a discussion. DYOR. Please check. Only mentioning Wafu and Cascabel because Peter Bird, 7 June 2018 interview mentioned them and said "the sort we evaluate."

ARS current JORC Compliant Resource 2.4Mt copper and 2.1moz gold. Pls check as there can be typo errors.

[p_j_s1] 15/6/2018 09:39

In the past, Steve would have come in at this point to explain how the Beutong drill results fit in to the overall exploration plan and what to expect next. There is now a communication gap that the company needs to fill in my view.

[tomcorvid] 15/6/2018 09:11

I made an error RE figures in the public domain for Beutong. They didn’t come from the indo FS (completed last August) that won’t be made public as they aren’t ‘internationally useful’ which i take to mean that they don’t comply with recognised standards but were to fulfil the agreement terms. Proper figures to come in the PEA, hopefully H1/19.

[highly geared] 15/6/2018 09:10

Uapatel, no problem.

We know Beutong is large (6x BKM), the strategic approach underway is to define / confirm if it’s globally significant. If it is , ARS becomes immeasurably more valuable as such a globally significant resource will be wanted by mining majors and its price in a buoyant copper market will probably astound everyone when it comes along....

The key is to hang around and wait for it to happen...

[uapatel] 15/6/2018 09:02

Thanks Highly Geared.

I was just trying to get a handle on the focus, as we seem to have so much going on.

Good luck all holders

[highly geared] 15/6/2018 08:53

Uapatel; the development plan in outline is to take BKM through to mine production by H1 2020 whilst simultaneously developing Beutong.

BKM should take care of itself and the plan is clear there. With Beutong the plan is undertake sufficientdrilling to define the true extent of the 3 resource areas and their linkages, then presumably complete a preliminary economic assessment. This could then put the ‘for sale’ sign on Beutong in terms of a JV partner or outright sale.

I’ve used the word presume, with Beutong. I think we need more clarity on the 8 drill programme and what follows. Yesterday’s announcement was great but it seems lost on the market, possibly because people don’t understand the objectives of the current programme in terms of an output ( expanded JORC/PEA pre requisite etc.).

If the next drill goes to say 900 metres and we have copper all the way down in a known area or step out area then the implication of a significantly expanded resource are obvious, it’s how we arrive at an actual number and what I’m struggling with at the moment.

I think the other KSK stuff should be treated as a bonus, the focus needs to be BKM and Beutong.

[tomcorvid] 15/6/2018 08:48

Correct dog, Indo FS is more like a PEA and why we have a defined resource. some basic figures but it’s a rough picture just to satisfy the ownership agreement. the PEA due next year will be much more detailed.

[uapatel] 15/6/2018 08:41

Although its a really nice problem to have, finding so much resources. The big question, to me at least, is the Board need to properly demonstrate a proper development plan showing we have a strategy to push forward and clearly set how we are going to monetise all this wealth. I really hope we now get to see Dominic Heaton turn up to a few presentations and add real weight to this aspect.

I think this would really help put some momentum behind the share price Appreciate any thoughts on this point, especially if I'm seeing it wrong. Cheers

[tomcorvid] 15/6/2018 08:41

Pass on was from someone who has a direct line to PB. He doesn’t share insider stuff with me so I don’t have anymore info but had read the comments here and asked me to clarify the company’s situ RE 80% increase. I might be wrong about the timing of indo FS being completed 2 years ago, I didn’t take the time to look up the info. Apologies if so.

[snickerdog] 15/6/2018 08:22

There was a local Indonesian Feasibility Study produced and submitted for this but this is not the International Standard FS being specifically prepared for the banks

[someuwin] 15/6/2018 08:14

Liberum have put out a buy note on ARS today.

[fbrj] 15/6/2018 08:09

Many thanks to those who responded to my points in my post above (14303).

I have to say I'm still a little confused!

Mrpiggy - yesterday morning you were saying:

"If my memory serves me well tektonik the 80% is achieved on exploration cash spent and we have got to be near that limit now........"

"Asiamet has a 40% equity interest in the Beutong project and can increase its interest to 80% subject to making certain milestone payments to its JV partner. All conditions precedent of the joint venture has been satisfied by both parties......"

ie no mention of a Feasibility Study being required to increase the ARS interest from 60% to 80%

Then after my post you reposted the RNS extract that I had given and then said (in responding to me):

"To answer your question fbrj........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."

horneblower's response, inter alia, was: "fbrj, You are right to point out that there is still a long way to go for Beutong......"

I assume that was in relation to increasing our holding to 80%(?)

tomcorvid - your post (14311) tells us that you've been asked to "pass on" (by whom, incidentally?) that the delay to 80% is due to the other party sorting out tax structures and that the feasibility study condition was satisfied 2 years ago. If that is correct then obviously that is extremely good news and completely answers the initial questions I raised, so thank you for that!

Mr Roper tells us that the move to 80% is "just paperwork".

I was only going on the Company's official announcement in its 8th January RNS - which said (apologies for the repeat!):

".....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%."

Reading that - you wouldn't have known that the feasibility study condition had already been satisfied some 18 months previously!

[tomcorvid] 14/6/2018 23:59

No probs HB, sorry about the abrupt msg - I was in a hurry and trying to get all the info out. A very profitable 10 years it will be too, sadly it caps the upside but I think that will be compensated for by the high Cu price

[finncairn] 14/6/2018 22:56

Having looked at the map I tend to agree with Daisan in the respect it looks like they have targeted the zone between the East & West porphyries which indicates the potential for one ore body. If so without even considering depth then the resources would be upgraded dramatically.