Asiamet Resources Share Discussion Threads

[snickerdog] 21/10/2018 13:29

Oki Use google translatehttp://aceh.tribunnews.com/2018/10/15/mahasiswa-di-meulaboh-juga-demotolak-beroperasinya-pt-emm-di-nagan-rayaSecond paragraph

[mount teide] 21/10/2018 12:55

Oki - Sold my M5 plate with the car. No more German cars for me.

Will be buying a new Jaguar F-Type as my final ICE car before moving to an EV - the designer Jaguar attracted from Aston Martin completely revolutionised the Brand.

Don't get me wrong the M5 is a brilliant car that never fails to put a smile on the driver's face - only had one slightly chastening experience with any of them in over 14 years of ownership of three different models - on a long straight section of an unlimited speed German autobahn heading towards the Port of Bremen. Travelling at 175mph i was quickly caught by another car which stopped briefly alongside before accelerating away at speed! The car? A Mclaren F1. The speed that car accelerated away had to be seen to be believed.

Best M5 of the lot from a driver's perspective was the manual, normally aspirated 5L V8 E39, the later versions while more technically advanced and faster took away the driver enjoyment and engagement via semi auto gearboxes and turbo's.

[okidokicoki] 21/10/2018 12:42

does anybody know a source for the post before

[snickerdog] 21/10/2018 12:33

From the follow-on article below:Explanation of the Ministry of Energy and Mineral ResourcesMeanwhile, the Ministry of Energy and Mineral Resources (ESDM) of the Republic of Indonesia responded to the action of the gold mine refusal by PT Emas Mineral Murni (PT EMM) in Nagan RayaResponding to the confirmation of Serambinews.com on Thursday (9/27/2018) night, Public Relations of the Ministry of Energy and Mineral Resources, Agung Pribadi said, in giving exploration permits to PT EMM, the Ministry of Energy and Mineral Resources had carried out in accordance with applicable law.Agung said, PT EMM as a foreign capital company (PMA) had also applied for permits in accordance with the applicable rules.Therefore, the Ministry of Energy and Mineral Resources provides licensing after going through the procedures and stages that apply in the legislation.It was said, granting permission to PT EMM in accordance with Law Number 4 of 2009 concerning Mineral and Coal Mining and Regulation of the Minister of Energy and Mineral Resources (ESDM) Number 25 of 2018 concerning the Exploitation of Mineral and Coal Mining. (*

[okidokicoki] 21/10/2018 11:24

Just had a bid for my Reg W88 RNS thinking about taking it after this week lol

[cupidstunt42] 21/10/2018 09:32

Give peas a chance.

[europa79] 20/10/2018 23:32

Copper, Gold...and now peas!!

[highly geared] 20/10/2018 22:26

Beutong- 2 things need to be done; the overall tonnage ( resource) needs to be doubled and the enlarged resource to deliver this ( arising from the 2018 and to be funded 2019 programme) needs moving up to more in measured and indicated category.

This means an extensive delineation drilling on the existing Jorc area, more drilling to areas outside the current envelope and some deep drills to test down to 1500m.

Concurrently, a PEA should be produced on the total resource.

How much will this cost; I’m guessing $30-$50 million. So, we need a partner and pronto.

[mr roper] 20/10/2018 22:06

10 days ago I thought it was realistic. Now..might be pie in the Sky.

[cyberbub] 20/10/2018 22:03

Do you mean $50m to sell 25% of Beutong outright? Or a partner to spend $50m to earn-in 25%? In either case that would be amazing, and take the pressure right off - but seems a bit optimistic maybe?

[mr roper] 20/10/2018 20:57

Build it, no... telling shareholders the bfs will be out in weeks not months x months ago, then issuing an rns to say it will be out that quarter, then two weeks after that quarter ended saying it’ll be another 6mths. No bull or bear about it but if that ain’t keystone cops wtf is...oh and no one mentioned the cash that was at 4m end Of June and they’re burning 750-1m a month. 20 drills? Where’s the money tree?

You mention a good point, I think that was the first podcast TM mentioned it 2as an unusual approach to skip a step in feasibility.

Dominic isn’t at the helm. He’s a non exec. Tm and PB are at the helm.

Beutong results..every single Beutong result has been sold into. As for PR..why release both within a minute of each other?

As I said, the bod have been great for the last two years, although their hitting dates hasn’t always been great but they got away with it. The bfs dates and subsequent change of tack is a mess though. As I said, they need to get it back on track now and focus on the job in hand but a balls up like that leaves a stain and where I put my cash is influenced by bod behaviour

Best thing would be getting shot of 25-50% of their Beutong holding but for what price is the question? 50m bucks for 25% now any buyer knows we need cash?

[buildit1] 20/10/2018 19:24

From perma bull to perma bear after Thursdays announcements Mr R. A little extreme?So delaying the BFS to get better financial terms via more drilling and most likely a higher copper price in 6 months time is Keystone Cops? They didnt get all the info back from various consultants until the end of Sep. They then made a decision to do further drilling. Yes the delay is disappointing but for the best in long run?Perhaps significant that Dominic Heaton having joined in summer and noted for delivering projects to time and budget has had an influence here. As TM said in podcast going from PEA to full feasibility (bypassing pre feasibility) is unusual and again they were probably too optimistic with guidance. Now Dominic is at the helm re development perhaps guidance will be more accurate.Agree mgt have to regain faith and I know via the twitter pages that they are accutely aware of that. My frustration is the Beutong protests panicked people which exacerbated selling when they announced BFS delay. The very strong Beutong result was ignored - again! If we hadnt of had that red herring what would the stock have done?A partner on Beuting and BKM BFS back on track in 6m and all is forgiven. In meantime we have $4m to spend on cheap drills at BKM KSK. Small raise to complete other drilling at KSK deep at BKZ/BKM etc and also the permit at Baroi perhaps?All brokers are reiterating targets post news this week.

[uapatel] 20/10/2018 16:56

Well still feeling annoyed with events on Thursday, but holding as the assets are amazing. Think the management messed up in the way they went about communicating the change of strategy for the BFS.

Feel sorry for those who felt they had to sell out at a loss. I'm still down (ave price 9.8p) and no funds just yet to average down. But hopefully once funding/partner is sorted we can move upwards.

Mount Teide, you raise some very sound points, just need to put Thursday events behind me.

Good luck all holders.

[mount teide] 20/10/2018 16:05

piglet - whereas most investors have trouble looking beyond 1-2 years the Asia Met management when i talked to them regard KSK and Beutong as a minimum 10 year project with them largely in control - although after last weeks news that could change because if a high grade core is confirmed from future drilling at Beutong - i believe a Beutong trade sale would inevitably follow.

It is no coincidence that there is still very little capital investment going into the copper mining industry some 2.5 years post the copper price bottoming in 2016 - total investment in new production has since barely risen 10% from the lows.

The industry is still mostly sitting on its capital investment hands, continuing to prioritise the rebuilding of balance sheets and the reintroduction or growth of shareholder dividends until the deteriorating deficit trend/ market fundamentals push the copper price up to a sustainable level that makes it highly economic to put money to work developing new production.

[pyglet] 20/10/2018 15:39

Mr Roper20 Oct '18 - 14:29 - 17371 of 17375

That is exactly how I see it - holding for now but believe the BOD has lost a great deal of credibility. The fact that they are experienced and done it all before makes me even more cross, and moreover, that it should never have happened at all. Talk about "being asleep at the wheel" - Blimey you couldn't make it up.
Drop is entirely due to the BFS RNS and extremely poor podcast which exacerbated it. The share price was slowly recovering until the BFS RNS appeared.

[mr roper] 20/10/2018 15:33

Let’s see what any partner offers, mt. The proof will be in the pudding

[mount teide] 20/10/2018 15:26

Mr R - the partner will be for Beutong only - they are simply looking to bring forward the strategy of taking a partner earlier for Beutong as a result of the outstanding 2018 drilling programme results and subsequent modelling, strongly suggesting the presence of a high grade core down to 2,500m that would need the involvement of a partner to fund evaluation. I would do the same in their shoes if i had just paid a pittance for an additional 40% of Beutong.


BKM BFS 'Yes, and this is the third time they’ve raised with that objective - What's the point?

Many might answer that by saying: Each time Asia Met has added considerable additional value to a project where other than briefly in Q1/2018 the price of copper has been well below $3 for nearly half a decade!

A level at which most new development projects are uneconomic, or if economic either too marginal to attract finance or the finance is too expensive without giving too much away to the financiers over the life of the project - even for low development cost, potentially high margin projects like BKM .

I suspect we will see the announcement of a Beutong partner quite soon and a modest placing some way above today's price to complete the additional BKM drills and wider evaluation above and below the two BKZ zones.

With respect Mr R , a company with near surface, very high grade, low cost to develop, heap-leachable assets that raised $7m at a 1,100% premuim to where the valuation was 2.5 years ago in a copper market currently in deficit for the second year; experiencing near decade low warehouse stock levels, and no major new global scale mines coming into production for three years in an industry where demand is growing at a rate it has needed and will continue to need to bring into production every year TWO/THREE new mines capable of getting into the Global top ten, could be called many things but i doubt over a barrel would be on a list of the top ten.

AIMHO/DYOR

[buildit1] 20/10/2018 15:00

Solgold needed cash as well. Didnt stop them getting a good deal. The quality of the asset is key. Has the drilling done enough to convince potentials partners to pay up?

[buildit1] 20/10/2018 14:56

Its all to do with the same protest lodged by locals. Fact is govt have cone out and said PT EMM and therefore ARS have done everything in accordance with the law.

[buildit1] 20/10/2018 14:50

That is rubbish. Yes Bfs delay is disappointing but stock was already down 15pc on the BS news on protests at Beutong

[littlemadam] 20/10/2018 14:12

cyberbub. Fair point and it goes to show how clarity is needed. Come on ARS!

[mr roper] 20/10/2018 14:11

Sell off was down to the shambolic bfs comms, changing strategy on a sixpence and the fact they need more cash.