Asiamet Resources Share Discussion Threads

[snickerdog] 22/10/2018 08:29

Copper breaking out

[mount teide] 22/10/2018 08:29

KJA - where did you get that $50 per metre BKM drill cost?

[kjawoogie] 22/10/2018 08:26

Most likely partner for Beutong is Indonesian or the Chinese. Looking forward to exploration on KSK targeting BKM BKS BKW and BKZ. Let's hope they confirm a porphyry at depth and linkages between BKZ and BKM. If that is confirmed things get very exciting. Worth noting cost to drill BKM is very economical as they use their own drill rigs and costs circa $50 per m, Beutong more like $250 per m. Makes sense to have a partner do the heavy lifting on Beutong.

[mount teide] 22/10/2018 08:23

L2: 2 v 1 / 7.3p v 7.5p

[zebbo] 22/10/2018 08:20

talk of an Indonesian partner also, that sounds promising

[mount teide] 22/10/2018 08:17

L2: 1 v 2 / 7.3p v 7.5p

[snickerdog] 22/10/2018 08:11

Lots of little buys in this morn

[zeusfurla] 22/10/2018 07:49

Having had the weekend to reflect on last week's too stressful events I actually believe that Asiamet is now in a better position going forward with its strategy to partner Beutong. This will bring forward shareholder value and I suppose I always had a niggling uncomfortable thought in the back of my mind about how long it was going to take to realise value from Beutong. We are in a better place now - that is as long as funding for the next round of drilling can be raised at a fair value. Comms was poor but substantive value remains.

[highly geared] 22/10/2018 07:25

You’re always going to get protest etc. Look at fracking in the UK...

[snickerdog] 21/10/2018 23:45

And it seems the students protest were at a roadabout in a town miles away. Good to see that fears have calmed

[bubblingup] 21/10/2018 22:38

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#ARS Broker updates: Target price reiteration from Liberum of 20p

Target price reiteration from Arden Partners of 24p
11:45 am - 21 Oct 2018
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[buildit1] 21/10/2018 22:14

And this is the govt response to the protest/filing. 40Explanation of the Ministry of Energy and Mineral ResourcesPreviously reported, the Ministry of Energy and Mineral Resources (ESDM) of the Republic of Indonesia responded to the action of gold mining refusal by PT Emas Mineral Murni (PT EMM) in Nagan Raya.Responding to the confirmation of 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. (*)

[fbrj] 21/10/2018 21:52

Waterloo - I agree with you 100%. I spent a while looking and google translating various news articles . It definitely involves an ARS subsidiary. The protests have been reported for at least a month. The protesters appear to be local villagers, students and an organisation which can best be described as a local type of Greenpeace (Walhi). Their argument seems to be that although the permits were approved at government level, they were not approved locally (no idea if this is necessary).
There is a document I came across prepared by Hackman in November 2014 which is a 200+ page technical report on "The Beutong Copper Gold Silver... Mineralisation Aceh, Indonesia". On page 29 "Environmental Permitting" it states that various approvals (including an Environmental Impact Assessment - known as an AMDAL) were obtained from the Bupati (Regent) of Nagan Raya. This area is where the local protests have been taking place.
The AMDAL forms part of the application for the Production License, which was granted in January 2018 (see RNS 8 Jan).

[horneblower] 21/10/2018 18:50

Re "the mine" at Beutong...
There is no mine at Beutong as far as I know.

I believe we have two drilling rigs operating in out-of-the-way places in virgin forest with the drill-rigs taking up very little space and then moving on...but no mine. That won't happen for about four years.

So perhaps the protesters are talking about someone else's mine?

Looking at Google maps in satellite mode, the area seems to be virgin forest. I don't know the exact location but the ARS website's map indicates an area of zero population. No villages, no logging, no huts. I accept the possibility that there may well be political opposition at some point but I do not see any indigenous population that might need re-location.

Interestingly, the Google map shows somewhere to the south of where I ascertain "Beutong" to be, there is shown a small area of maybe a few hectares in the middle of virgin forest were there are, apparently, a dozen or so Mosques. Yes, Mosques. The satellite image shows unbroken forest. Perhaps they are underground.

[zebbo] 21/10/2018 18:47

regards the statement - "As such Asiamet is evaluating various options including partnering to test this deeper potential and more rapidly progress the development of Beutong in the near term."

They sounded very bullish almost excited regards partnerships within the gold/copper arena. Sort of gives you an idea that this is the chosen route.

[waterloo01] 21/10/2018 18:25

As I understand it, and I'm sure I'll be corrected!, there is a case lodged but it isn't against the company per say but against the government in granting the licenses. I suspect the lower court will get short shrift, but it's not fully resolved yet, as far as I know, given the case was only lodged last week.

I understand the company can't really comment about it as it's sensitive and up to the govt department to get it dismissed.

As for cars. I have no view. They all sound lovely.

[dorset64] 21/10/2018 18:09

Mount Teide/okidokicoki

I'm a lover of the Porsche Cayenne having driven one for the past 9 years, but this year transferred over to this SUV instead, and gotta say its good fun to drive & the sound is awesome:

[buildit1] 21/10/2018 17:57

Its quite straighforward.We had a protest. Local students/demonstrators complaining about the mine. The govt then came out and said all in order and PT EMM and therfore ARS have done everything legally in accordance with law. So nothing to worry about.

[mrpiggy] 21/10/2018 16:50

Here is the translated full article, we seem to have a contradiction between the article which states the mining license had been refused and the ministry of mineral resources which states all is in order. Fake news?
SERAMBINEWS.COM, MEULABOH - Hundreds of students and activists from non-governmental organizations in West Aceh staged a demonstration at the Meulaboh Pelor Roundabout, West Aceh, Monday (10/15/2018).
The demonstration took place peacefully and rejected the presence of PT Emas Mineral Murni (EMM) in Beutong Banggalang Nagan Raya and Central Aceh.
The demonstration in the name of student action for the generation of Beutong Banggalang (AM GBAB) was escorted by the local police.
The crowd carried banners, cartoons and loudspeakers which were delivered alternately.
Explanation of the Ministry of Energy and Mineral Resources
Meanwhile, 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 Raya.

[mrpiggy] 21/10/2018 16:07

Have we nothing to worry about if that article is correct then snickerdog?Seems to read that way!

[horneblower] 21/10/2018 15:36

Yup. There have been loads of posts since Friday morning when it was first posted.

[zho] 21/10/2018 14:39

Yes, thanks. I took ages looking for a source of that story and couldn't find it.

[okidokicoki] 21/10/2018 13:31

Thanks Snickerdog

[okidokicoki] 21/10/2018 13:30

Must say I love the new Jags very nice looking car I drive a 2014 Audi a5 s line TDI convertible has never missed a beat since I have had it and has now done 116k miles ! Bullet proof :-)

[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