Asiamet Resources Share Discussion Threads

[jc2706] 18/6/2018 10:44

It is what it is wherever the selling is coming from. Eventually the share pool will run dry and buys will outweigh sells. 10p ish looks to be a reasonable floor and 12p looks to be a ceiling. Break 12p and we can look forward to gains.

[pyglet] 18/6/2018 10:33

This has nothing to do with a placing or Beauforts but everything to do with the blog that has appeared by the angry geologist over the weekend which was written nearly 3 months ago. IMO

[mr roper] 18/6/2018 10:27

We did a placing 3mths ago. Can't see the real need for one yet until we know how successful the deep drill has been.

[jmillskeel] 18/6/2018 10:16

Placing, frustrating but let's get done and move on up

[highly geared] 18/6/2018 10:10

Arhaych, I do recall that. Let’s wait and see.
I have no concerns and keep reminding myself that the BOD’s and our interests are 100% aligned and that each asset comfortably accounts for the current market cap.
If we get a silly drop to 10p or below, I will be buying more.

[arhaych] 18/6/2018 10:01

HG, regarding the 80% Beutong RNS, didn't we hear from someone with a line into Peter Bird that it's the other party who've been holding up the deal (setting up a new tax structure)?

I believe it's expected to be concluded before the AGM.

[horneblower] 18/6/2018 09:59

HG,
Fully concur.
The current £100M valuation won't last for too long but equally may persist until the weight of evidence becomes untenable for such a low mcap.

[mrpiggy] 18/6/2018 09:56

Well we will agree to disagree, no investor in their right mind would be selling at this point unless they have to.... far to much upside!

[horneblower] 18/6/2018 09:53

MrP,
The biggest clue that Beaufort clients did NOT invest in ARS is that if they had they would not have got into such trouble as they did!
I gave my own take on the situation a couple of days ago.

[highly geared] 18/6/2018 09:52

We are at an interesting juncture in the life of Asiamet; probably the most interesting, difficult and rewarding.

The BKM bankable feasibility study will be published in the next 2 weeks. It will underpin what we already know and clear the way for mine financing but until it’s done, the project is still ‘at risk’. I reckon 4-5 months to get financing over the line , so probably nothing definite until November.

Beutong is drilling ahead but it is ‘slow’ due to the depths being drilled and the time for assays.I think we need another 2 800m drills to add to the 600m drill just announced. We’ll then ‘know’ intuitively whether Beutong can deliver that billion tonne ore resource that will put it in the shop window for mining majors to potentially acquire or JV. So, probably 3 months away on this aspect (October).The move up to 80% ownership is key , this could come at any time but there appears no rush on either parties side.

Baroi, permitting is slow and I expect nothing on this until the autumn.

KSK, many targets to drill but I suspect this is some weeks offf any new scout or resource drilling. My preference would be to sink 2-3 deep holes on BKM/ BKZ to get better data on the potential porphyry feeder.

My view is; if you’re invested it remains a waiting game. With BKM financed and deep drill data in and 80% ownership on Beutong, I can easily see a tripling in value from current levels but feel this will occur in Q4. In the meantime, any weakness in the share price should be a good buying opportunity for the patient.

I would hope with Beutong at a billion tonne resource and BKM financed , a market cap nearer £300 million would seem appropriate.

[hawks11] 18/6/2018 09:43

Roll on 25th June, good weather is forecast and a great AGM for ARS is on the cards. I am away for the week but hope to be able to collect and savour the good news that I am quite sure is coming.

[mrpiggy] 18/6/2018 09:40

Yes but equally there is no evidence they didn't invest in ARS, what better stock on AIM could they have invested in that would in all likelihood give a fantastic return with limited risk?If you have any better theory then I'm all ears (actually I am all ears!). :@)

[horneblower] 18/6/2018 09:34

Having read the article again (I remember reading it when it first came out) I see that there is no evidence whatsoever that Beaufort clients had any investment in ARS.

[mrpiggy] 18/6/2018 09:26

Thank you zho, I'm at work and have little time today so glad you found it!

[zho] 18/6/2018 09:16

horneblower,

Mrpiggy mentioned an FT article which said that Beufort had been punting small cap miners:

[mrpiggy] 18/6/2018 09:15

The only thing I can tell you for certain hb is that Beaufort's used clients money that should have gone into low risk blue chip stocks and put it into high risk stocks with the intention of paying low risk returns and pocketing the difference which is why they were but fuxxed by the yanks!All the stocks bought into higher risk stocks are being sold and a lot of AIM shares are suffering the same way as us!

[horneblower] 18/6/2018 09:00

MrP,
Do you have any evidence that Beaufort (clients) had any shares in ARS.
It seems most unlikely to me.

[charles clore] 18/6/2018 08:59

Agree that to sell would be pointless Mr P

[mrpiggy] 18/6/2018 08:44

I don't think so CC, I'm pretty sure this is still fall out from the Beaufort collapse. The instructions are to sell until it reaches 10p then stop, let it recover to 12p then resume selling. This has repeated and will continue till they have unloaded all that Beaufort's hold. My theory anyway!Shares are being sold because they have to, it makes no sense selling at this point!

[charles clore] 18/6/2018 08:35

Placing on its way I reckon

[mr roper] 18/6/2018 08:23

Hefty volume first thing. Unfortunately we are red.

[jlondon] 17/6/2018 20:15

Lots of data/info coming out re: ARS [Liberum broker note], copper etc on Twitter. Cant post as too much. Go to Twitter and in the discovery window, type "#ARS." This is all today*s tweets.

[finncairn] 17/6/2018 18:20

Zho. The last rns it looks like the drill was between Beutong east & Beutong west phrophries. April I have not looked at as I'm currently busy. From the last rns it looks like to me they are trying to prove both east & West are in fact one ore body.

[mount teide] 17/6/2018 16:18

Some recent data/info taken from my research notes together with some thoughts on AG's blog comments from March:


Porphyry Projects - AG states what the natural resource market is looking for today with respect to the USGS Chart 1(see below)- which displays CuEq% grade vs tonnage for various copper deposits - is the following:

* A position in the top right part of the chart = takeover target
* An exploration stage project that shows the potential to get into the top right area.


(Bear in mind this chart covers the period 1989 - 2008. Most new finds and the average grades of existing mines has continued to decline since and has fallen off a cliff over the last 30 years)


However, AG then goes on to partially contradict that view by saying that virtually all world class porphyries sit towards the large but low grade end of the spectrum (bottom right of the chart) - as evidenced by USGS Chart 2 where some of the largest Global porphyry's outside of North America, Canada and Central America have been included for comparison. Something with which many would agree (the position on the chart of Beutong's total resources with respect to some of the current world class porphyry's makes interesting reading.



Today, porphyry copper mine development projects are proving far more sensitive to grade and development/operating cost as a result of the waterfall decline in ore grades over the last three decades.

Recent research by Mining Intelligence shows that early stage copper projects have grades ONE-THIRD below operating mines and that average head grades have fallen 46% since 2000 from 0.98% to 0.53%.

The next generation of copper mines will not only have less copper but sharply declining grades' the study found. Operating mines currently have an average grade of 0.53% while copper projects under development have an average grade of 0.39%.

Jennifer Leinart, Mining Intelligence analyst, warns that copper prices will rise. "Miners are struggling with both lower grades and increasing operating costs,"

AG recently stated that what the M&A market is looking for is projects that are a decent size and grading greater than 0.6% CuEq.

0.6% CuEq is US$40/tonne dirt at $3 Cu. None of the large number of open pit(low cost) copper mining operations in British Colombia(BC), Canada is remotely close to that figure today. Some very recent $500m capex copper mine development projects in BC progressed with grades below 0.4% CuEq (eg Copper Mountain).

Most recent global scale copper porphyry developments are deep underground - over th3e last 20 years, low development cost, near surface copper projects have proved increasingly difficult to find, suggesting most of the 'low hanging fruit' has been found and developed.

Beutong is a large high-quality copper, gold, silver, molybdenum deposit that outcrops at surface and remains open both laterally and at depth - it has a high grade core with sequential assays for the initial circa 500m interval suggesting potential for a significant proportion of leachable copper.

Page 11 of the United States Geological Society's Global Mineral Resource Assessment (March 2014) includes a comparison of the cut-off grades calculated for porphyry copper deposits using updated simplified engineering cost models for open-pit and block caving mines as a function of deposit depth and ore tonnage.



The dramatic decline in average mined copper grades over the last 30 years has seen the copper price increase nearly 6 fold since the 1980's(and nearly nine fold at its peak in 2010), in order to meet the growth in demand and maintain the commercial viability of copper mining.

With industry forecasts pointing to a further continued decline in average grades - high grade, near surface(low cost and short lead time to production) projects like BKM(Heap leach) and Beutong(particularly for the potentially significant proportion of leachable copper), is likely to offer development cost fundamentals that are likely to attract both strong finance and M&A interest.


AIMHO/DYOR

[zho] 17/6/2018 14:47

>>Is there any indication of where drill hole 6 (april rns) and number 8 (june rns) are in relation to each other?>>

Drill 8 - see

Drill 6 is shown (but not clearly labelled) on the same figure to the ESE, about an inch away on my screen.

To see it clearly labelled scroll down to the map at