Asiamet Resources Share Discussion Threads

[fbrj] 23/11/2018 20:44

Just a minor point - I keep seeing references to the directors not taking fees but paid in options etc. If that is the case what are the "Salaries, consulting fees, pensions and other benefits" amounting to US$600k paid to Messrs Manini, Bird and Hughes showing in the 2017 AR?

[cyberbub] 23/11/2018 19:11

I hasten to add that I have no knowledge of an impending placing - but £2M at 4p would hardly be disastrous, it's only 50M shares, or 6% dilution. If that's what it takes to get us past the BFS and hopefully a return toward 10p, then why don't they just bloody get on with it! JPM will be fuming - but who knows they might take part in a new placing, that would be a big vote of confidence...

[zeusfurla] 23/11/2018 11:48

Calum Well-spotted - my error on cash figure. I looked at the header date in the slide (November 2018) and missed the cash date below. Cash will be down on the £3.0m quoted. However, I think it was MT who quoted the cost of drills ($50/metre?) which is a low figure so cash spend on drilling not likely to be too high. Agree an update would be helpful and may come at next week's mines and money.

[wisteria2] 23/11/2018 11:29

Absolutely Buildit, great opportunity to climb on board, in 6 months time peeps will looking back saying a wish I had got more under 5p....that's my bet gla

[buildit1] 23/11/2018 10:53

Be greedy....

[charles clore] 23/11/2018 10:33

No more ofmy money isgoing into this. The bod has let us down badly over the bfs and now it is just a case of sitting it out and waiting. All the glitter has gone.

[pyglet] 23/11/2018 10:07

There is no risk of a lowball offer - confidence has been blown. All the potential suitors that have been buzzing around according to TM seem not to be interested. SELL

[calum] 23/11/2018 09:49

zeusfurla - If you look at the updated slide on the Home page there is cash available of £3.0m at the moment. If you look back to 30 June interim results cash was $4.0m

I read that £3.0m as the cash on 30th June (=$4m) ?

So could also do with getting the current cash position and if they have plans to raise more to keep drilling until the BFS?

[zeusfurla] 23/11/2018 09:39

Dorset64 Thanks for very sensible comments. Investor confidence is clearly the issue here and this board has expressed views repeatedly over recent months on this. However I believe we have gone WAY too far. Like most market reactions in the absence of news, share price can drift down. There are some PI's who are getting out as they don't have the patience, others may have margin calls or think they see better short-term opportunities. Looking in the cold light of day at the assets ARS has it's clearly worth way more than its current market cap even if it was sold tomorrow! There is a growing risk of a low-ball takeover here and that is a big concern of mine.

The area of most concern for me was not the BoD's handling of PI's which wasn't great but wasn't as bad as some investors here made out - it was the potential lack of cash to progress drilling over the next 3/4 months. If you look at the updated slide on the Home page there is cash available of £3.0m at the moment. If you look back to 30 June interim results cash was $4.0m. So absolutely no problem with low-cost drilling for next 3/4 months. As far as a JV partner goes this will take as long as it takes - it is not a quick fix - we need the right deal. I retain my holding and will top up if other funds become available at this bargain share price Hold tight and keep confidence.

[wisteria2] 23/11/2018 09:31

Added today ridiculous low price!

[arhaych] 23/11/2018 09:29

So far underwater now that I've just seen the rusty corpse of the Titanic.

[jackbal] 23/11/2018 09:27

With penny shares anything can happen so i suppose i shouldn’t be surprised by the way this is going.

However I am surprised that with JPM as an investor and deep pocket directors with excellent contact there is no activity taking place to shore up the share price

I’m holding on to hope that this is just an irrational selling stampede. If we don’t hold 4p and bounce off it then I can only conclude we are being kept in the dark about what’s really going on here.

FFS it’s like watching a car crash on slow motion

[calum] 23/11/2018 09:04

kjawoogie - I think you said you were going next week. I'm sure you have plenty of questions of your own for them but this is my list for what it's worth - just in case you get a chance to ask these please:

1. Constant slipping of timescales re BFS – Peter said only in August re BFS was weeks away “loose ends” but then a big change at last minute. Have they taken anything on board here re under promising and over delivering? Same with Steve last year when BT permit was due in December - basically don't give bloody timescales unless you know for sure - and if things are delayed then keep us in the loop instead of radio silence.

2. Baroi & FEZ % seem impressive – what are the plans there – where are we with the Forestry permit for Baroi – it seems we are having to wait forever for these?

3. For BKM how much can they debt finance and how much equity?

4. Beutong – are they in actual talks re partners or is that just wishful thinking?

[markth126] 23/11/2018 09:00

Just pleased i don't need to sell, hope nothing too sinister about to come out though!!

[cupidstunt42] 23/11/2018 08:59

Can't see anyone making the effort after last time and being lied to face to face with the weeks not months bullocks.

[cupidstunt42] 23/11/2018 08:57

Who's going to mines and money and will they kick the bod's in the nuts for me please?

[aim0raider] 23/11/2018 08:53

I don't get wages from the company either Oki. I also own more shares than most of our Director's.

I'm sure they are working hard, but at the moment don't deserve too much sympathy, if any.

[sos100] 23/11/2018 08:50

trade wars has gone on for months ,it was up the company to do another placing to protect the share price.I don't think we'd be trading at these levels if had we raised funds at 8,9 or 10p..

for whatever reason they didn't do it..

ps-can't believe they even bothered to rns this mines and money when all shareholders are concerned about is the declining share price...

[okidokicoki] 23/11/2018 08:50

The BOD do not take wages they take in share options so be believe me they will be hurting alot more than us

[calum] 23/11/2018 08:47

Yes - very painful to watch - 15k worth of sales is wiping off approx £1m in market cap?

[calabrian] 23/11/2018 08:43

Lots of jam tomorrow around here. Any counter arguments or do they just get swept away? BOD keeps getting paid and cash being used up.