Asiamet Resources Share Discussion Threads

[mr roper] 26/6/2018 07:26

Could well be. He’s ex Newcrest and oxiana.

[kjawoogie] 26/6/2018 07:25

I also think this is the bloke Tony Mentioned was working with the company https://www.linkedin.com/in/patrick-creenaune-823b2438

[mr roper] 26/6/2018 07:20

Yes, Dominic looks to be a high calibration appointment. Tony and the team certainly do have a network of fantastic talent to call upon.

[mrpiggy] 26/6/2018 07:13

Great appointment!The board are now making preparations to build the mine at BKM once the finance is announced which should be in the next few weeks..... things are hotting up!Mr Heaton is a highly experienced mineral processing engineer with an extensive background in feasibility studies, project construction, plant commissioning and mine operations throughout South-east Asia. For seven years as the former CEO of Masan Resources he led the development and operations of the Nui Phao tungsten - polymetallic project in Vietnam, prior to which he was closely involved in the development and operation of the 60,000tpa Sepon leach SX-EW copper project in Laos and development of the large Martabe Gold Mine in Indonesia.

[kjawoogie] 25/6/2018 19:28

Thanks for the useful extra info. Gutted I didn't get to chat more with the team.

[knobbly] 25/6/2018 18:05

Also... good to meet horneblower (thread owner) who brought this company to my attention 2 1/2 years ago. Thanks!

[knobbly] 25/6/2018 18:03

Great AGM notes from Kevin - thanks.

A couple of further points that came out of a chat I had with TM after the AGM;

TM mentioned that there is around US $4 million left in the kitty, and no immediate fund raising needed.

TM mentioned that the current Beutong hole in progress is somewhere around 700m deep, and that it wasn't going to be "a very very deep hole"; I think that was in the context of his previous discussion on how expensive 2000m holes are to drill.

I asked whether Media Group would be putting their hands in their pocket to contribute towards finding, digging and refining their 20% of Beutong... TM said that once the decision to mine Beutong was made then MG would be paying their way. Though he did say that MG historically were happy with 5% ownership of their O&G ventures, and it was likely they would let their 20% slide in exchange for further necessary effort needed. I suggest to TM that Asiamet might be interested in raising their ownership further. He shrugged and said possibly, but in time we would still have to divest 51% to Indo ownership.

[mount teide] 25/6/2018 17:55

Trade war fears has not stopped the Chinese being record buyers in H1/2018 - last month they imported more copper concentrate than in any month since the early 2000's.

[walter walcarpets] 25/6/2018 17:51

ditto re notes from AGM fellas!

[sos100] 25/6/2018 17:51

He bought Churchill mining so he has emotional issues with anything RIO related..

[cyberbub] 25/6/2018 17:47

Copper price dropping on trade war fears?

[mrpiggy] 25/6/2018 17:45

So why are you here then?

[neo26] 25/6/2018 17:27

Not Indonesia, a very nasty regime the indonesian govt.

imho

[tektonik] 25/6/2018 16:55

Thanks to all who have shared feedback from the AGM this morning. Fundamentals clearly becoming stronger, now is a good time to top up.

[highly geared] 25/6/2018 16:35

Adorling/kjawoogie; many thanks for the write up’s from today’s AGM.
The words that spring to mind are; ‘ value, patience and ‘will out’ ‘

[arhaych] 25/6/2018 16:21

Top class Kevin - thanks very much for your notes.

[uapatel] 25/6/2018 16:15

Thanks kjawoogie for also posting those notes. Much appreciated

[mr roper] 25/6/2018 16:12

I'd be pretty happy with option 3 for Beutong

"3. Or bring in a major to spend $40-50m to fund a more expansive deeper drilling programme"

[kjawoogie] 25/6/2018 16:01

Nice to meet those that came along today here's my notes: Peter commented main reason for movement of ARS shareprice has been from KSK.Tony spoke about Dominic who he has worked and known since Oxiana days. Dominic worked on Laos gold project which is very similar to KSK in terms of environment. He also worked on a copper project 2.5x the size of BKM (60ktpa) leach copper project so know copper leaching extremely well. He is married to an Indonesian and worked on Martabe so if familiar with both the type of project and the country. Dominic was head hunted to join Masan Resources where he worked and put into production a polymetalic project TM didn't think could get built - high praise indeed. The project required 200,000 to be relocated!Dominic has relevant experience to join the board and assist the board on strategic decisions and contacts for elements of BKM production and in the words of TM is a "Great addition to the board"As for the board Asiamet continue to evolve the skills and experience of the board (I met James for the first time and he was a really nice bloke and used to working in these markets/funds given his previous experience with oz minerals etc.) Strategy is to have a senior appointment to handle Mine Geology and Exploration with Bowo and new appointment reporting on geo and exploration.M&A Tony highlighted the recent transactions in M&A:Oz Minerals take over of Avenco in Brazil $400m valued at 12c per lb for copper in ground (note in production).Finders $200m merdeka takeover 14c per lb copper in the ground in production Mitsubishi $600m for 5% of Anglo American's copper project Quellaveco Current v Potential value:We are currently valued at circa 4c per lb in the ground with the potential value in production of 14c per lbBKM - feasibilityWe are in the LATTER stages of feasibility. Final optimisation to plant area, heap leach areas done which means they are working on the final piece being the mine pit optimisation. Working on items such as higher grade first v mine life and sequence and slope of pit etc. It's a complex process and a trade off between mine life/value/cash flow. My view is we are weeks not months away from BFS. Peter touched on the great access at BKM but said Beutong is even better. BKZ - huge mineralisation potential across KSK which needs to be explored in a systematic way. The deal south 32 have just done shows the growing demand for Polymetalic assets. There are 2 or 3 other deposits near KSK similar to BKZ one of which is building a concentrator in West Kalimantan which is something they are looking at trucking the material too. Beutong Currently underway on the 4,000m drill programme.Hole BEU900-06 607m hole 456m @.93% cu 10m from surface. Average grades worldwide with credits from associated Gold circa 0.5% Hole was drilled across east porphyry at 60 degrees so a real depth of circa 550mTony reminded us he spent $14m of his/Tigers own money to drill it previously. Total drilling previously:Highlands Gold short holes 5,000mFreeport 10,000mTigers Realm 18,000mARS doing 4,000mKey is to get value for all this historic drilling. Tony is also very mindful of the cost of drilling an asset like this some majors would drill 200,000m a year into a system like Beutong illustrating the scale of the project.TM mentioned the high grade potassic core has similarities to Solgold and Wafi Golpu and need to drill down to 1,500-2,000m to fully evaluate this.Worth noting solgold's recent impressive drills start at 500m depth. Beutong is from surface. Looking to evaluate if Beutong is leachable from surface - similarities with BKM in this respect.3 ways Beutong could move forward:1. ARS heap leach resource from surface high grade starter pit2. This allows a major to drill the deeper targets3. Or bring in a major to spend $40-50m to fund a more expansive deeper drilling programmeI mentioned the underwhelming response to Beutong first assays and 80% TM's response was he had offers (more than one) previously from majors. We have had interest in the industry since the drill RNS. Again TM compared the SOLG asset - in a tropical rain forest high in the Andes with no water. Beutong is 60km from the coast, with excellent roads and 220mw power near by. This reduces capex and is a "Great location" Beutong is coming on to the radar.....TM commented on BFS/ partner discussions they want to get BFS out before tying up a partner as they want to get value for the project based on BFS.Funding would be based on project level versus top co to avoid diluting value of Beutong. Overall great to see Tony Peter and James. I didn't get to speak to them much directly as I had to leave for a meeting but I think it's safe to say we remain hugely undervalued. My hope is that people can be patient and don't lose fait given the lack of movement given the great Beutong releases. I am holding all my shares and will do for the long term. Right place right team right assets. Market will catch up soon enough and Tony is one of the best around.

[knokke1] 25/6/2018 15:56

Presentation up on asiamet website, frontpage, scroll down on right, latest corporate presentation, plenty to read!

[haydock] 25/6/2018 15:53

Adorling.

Those of us who cannot get to AGM's, really appreciate service from those who have attended.
Your service is first class.

Many thanks,

[barneycosmo] 25/6/2018 15:06

Many thanks Adorling. Appreciate the write up.

[uapatel] 25/6/2018 14:57

Adorling,

Many thanks for taking the time to post your feedback on the AGM.

[pyglet] 25/6/2018 14:50

Adorling Many thanks for your post. Much appreciated