Asiamet Resources Share Discussion Threads

[mr roper] 23/10/2018 10:05

Or the bod could dip their hands I to the open market to add a few shares to their holdings.

I'm not sure they grasp how damaging that pr shambles was last week. When you've got a team who constantly reiterate that they've got the best team, done it before etc you don't expect that. The surefooted mountain goat has chopped one of its own legs off.

[mrpiggy] 23/10/2018 09:40

MMS drop us 6% on a million shares sold..... nice work boys.

[tektonik] 23/10/2018 09:35

I would fully expect them to outline the plan for BKM in an RNS with the specific boxes that will need to be checked to satisfy the BFS requirements for it to complete in the 4-6 month time period within the coming weeks. At the time of the podcast it felt as if they had visibility on some of the boxes that needed to be ticked but hadn't hashed out the finer details, I'd guess that they still don't have al of the answers to some of your valid points/questions Mr R.

Re BKW and Silver Mountain - Assays are probably in a void somewhere at the moment - if they have any sense these should be at the rear end of their backlog and seriously de-prioritised following the recent events until sentiment improves. Anything but a sharp focus on BKM/Beutong JV will just attract scrutiny.

Re Steve, I am likely incorrect and can't find the name of the chap but I thought Steve's right hand man in the field (he's Indonesian) was taking the reigns here now? We also have Patrick Creenaune in a consulting capacity for the next few months working explicitly within the scope of BKM/Z

All valid questions though and like you urgently want closure on the BKM and Beutong related issues...

[mr roper] 23/10/2018 09:25

In the last bfs rns they actually state explo drilling is underway. Why not put that out in a separate rns without folk having to wade through that. I thought they employed a PR director ffs

[charles clore] 23/10/2018 09:18

Good post Mr R. I said at the time of Steve's exit that things would change for the worst - and sure enough they have. The exploration and reporting efforts of the remaining directors has been, to say the least, LACKING! It makes me wonder whether Steve left because he didn't agree with some of the bod's key policies. And for the bfs to drag on and on the way it has without any real clarification is nothing short of disgraceful imho.

[mr roper] 23/10/2018 09:02

After anmouncing a strategy change on the hoof, what they should be doing is providing more clarity and detail around the drill plan. How many drills running in parallel , when does it start, are they all shallow drills, some 400m depth drills, is it all at bkm or are there some planned at bkz, whats the planned timescale, is it fully funded etc etc. And not via a frickin podcast.

Oh and while we're at it whatever happened to the assays from bkw and silver mountain thay Steve sent to the lab. And what's the latest with the Baroi permit? Oh and why have they not replaced Steve with a full time exploration head? He was always run off his feet, if you don't replace the role the work falls on others...who I'm guessing didn't have their feet up smoking a pipe.

[tektonik] 23/10/2018 09:02

Going in again if this drops below 7p

[highly geared] 22/10/2018 19:40

The strategic long term deep value story is still in tact here and pragmatism has probably overtaken emotion. Last weeks triple whammy is now fading.

I think short term we might see 8p but then an oscillating price between 7.5-8p. The price of copper in the coming 6 months will drive this as the BFS delay is a function of the copper price and ability to finance.

Of course, some good further drilling assays and , in particular, deeper drills might cause upward movement if it’s seen as underpinning finance ability of the project regardless of short term copper price. I just hope they sink a couple of holes to 400m at BKM and declare long think copper mineralisation, thus evidencing the ability to double the size of the pit and thus put any financing issues to bed.

[mrpiggy] 22/10/2018 19:30

They may we'll have uapatel, its going to be very hard to tell for the next few days, we will have plenty day traders on board taking their profits as we rise.... some will have got a sizeable holding at low 5s and 6s so will be sat on a fab profit already. If I'm right the difference will be that we will gain daily momentum instead of being stifled on every rise and we will have new buyers because the sentiment has changed. We'll have a better idea a week on Friday.

[uapatel] 22/10/2018 18:44

Hard to believe with the volume we've had, they haven't managed to get out by now. Assuming that's their plan.

[tektonik] 22/10/2018 18:30

Your infamous seller may well be finally out Mr. Piggy, but who knows!

[mrpiggy] 22/10/2018 16:42

On the assumption that the infamous seller/sellers are out then ARS may well recover a damned sight quicker than some on here think.
I can’t help it but my cynical mind can’t help but think our seller/sellers are related to the crash last week.
Yes, we will get some profit takers naturally hitting the sell button but let’s see if we can build some momentum..... we will know soon enough if our long term seller is out.
Let’s see where the sentiment takes the share price

[sos100] 22/10/2018 13:39

worth watching this video..

copper (and the lack of new high quality projects) specifically mentioned at 10mins -starting to think this might attract a bid before BKM gets to production.

[charles clore] 22/10/2018 12:06

Imho a handful of traders scalping a few pennies on the way up. Resistance I would imagine will be the same as on the way down.

[calum] 22/10/2018 12:01

HB - ah yes sorry. Will wait to see if MT gets a reply otherwise think I will contact them myself.

[horneblower] 22/10/2018 11:53

Calum, I think it was MT, not me.

[calum] 22/10/2018 11:46

HB - have you had any reply to your correspondence from last week? I would have thought they would be keen to improve their PR from last weeks mess.

[mount teide] 22/10/2018 11:22

HB - 'The weakness of copper has surprised many and has effectively pushed back the plans of many players around the world, ARS included.
One could criticise the bod for delaying telling us...but not for delaying the bfs. It was the right thing to do.'

Exactly - pointed this out very strongly in my correspondence. The communication in the months leading up to the end of Q3 should have been used to explain this - rather than a rushed RNS and badly prepared and embarrassing podcast.

Posted on her 2/3 months ago that the finance door had opened and then closed over the summer on some much more marginal North American copper mine development projects, as a result of the first post recession correction in the copper price.

Even for higher margin projects the impact on the potential cost of finance would have been sufficient to stand back and ask the question - "its taken us 4 years to get to the development stage - what's another 6-12 months if it means we can secure more cost effective financing?"

[snickerdog] 22/10/2018 11:13

It's better the second time round Dorset :)

[horneblower] 22/10/2018 11:12

Fair enough.

One way or another they will have to raise a few million for KSK and probably $10M plus for 'definitive' drilling at Beutong and some for normal working capital for the next 12 months.
How they do this is up to them but they must act soon for WC and KSK.

Assuming the copper price does what I expect it to do and there is an announcement from ARS in the next month, I reckon the share price will regain 10p plus by December.

GLA.

[shanklin] 22/10/2018 10:44

I suspect ARS have made the right decisions for the business provided that if they need a placing they can get it away okay.

My big take-away from the last month or two's dreadful communications is that, if there is any bad news around, one should not expect the board to update investors in a timely or complete manner. Indeed they seem highly prone to making statements that prove over time to be misleading and then being very tardy in correcting them.

[snickerdog] 22/10/2018 10:30

HB I get the impression that as soon as they had had all the data in the reviewed but probably not so many conversations with the bankers as they know what the industry is up to anyway. All this may work out to Asiamet's advantage in the end by getting better rates in a more buoyant copper market

[jimbo310813] 22/10/2018 10:23

Indeed, a beautiful play... only wish I'd sold out at 10 and brought back at 5.1...