We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Asiamet Resources Limited | LSE:ARS | London | Ordinary Share | BM04521V1038 | COM SHS USD0.01 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.125 | 9.62% | 1.425 | 1.40 | 1.45 | 1.425 | 1.30 | 1.30 | 13,663,227 | 16:15:07 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Miscellaneous Metal Ores,nec | 0 | -6.93M | -0.0027 | -5.26 | 36.84M |
TIDMARS
RNS Number : 8201N
Asiamet Resources Limited
27 September 2023
27 September 2023
2023 Interim Report & Financial Statements
Asiamet Resources Limited ("Asiamet" or the "Company") is pleased to present its unaudited financial statements for the six months ended 30 June 2023 ("Financial Statements") as extracted from the Company's 2023 Half Year Report which is now available on the Company website at www.asiametresources.com and will be provided to shareholders who have requested a printed or electronic copy.
The Financial Statements are set out below and should be read in conjunction with the 2023 Half Year Report which contains the notes to the Financial Statements.
All dollars in the report are US$ unless otherwise stated.
Interim Highlights Include:
-- Update to the Beruang Kanan Main ("BKM") Copper Project [Ore] Reserve statement (JORC 2012):
o 19.0Mt @ 0.7% Cu for 137kt of contained copper in the Proved Reserve category
o 21.8Mt @ 0.6% Cu for 135kt of contained copper in the Probable Reserve category
o 40.8Mt @ 0.7% Cu for 272kt of contained copper in the Proven and Probable Ore Reserves category
o Low strip ratio of 1.2:1
o Ore Reserves are reported based on extraction by open-pit mining and processing by heap-leach and solvent extraction / electro-winning ("SX-EW")
-- Update to the BKM Feasibility Study:
o Initial 9.2 year mine life producing up to 20ktpa of copper cathode per annum
o Life of Mine ("LOM") Revenue of $1.4 billion and EBITDA of $655.3 million
o Capital cost of $208.7 million (excluding growth and contingency of $26.7 million)
o Post Tax NPV8 $162.8 million, IRR 21.0% (post tax, excluding closure costs)
o Payback Period 3.4 years
o C1 cash costs of $1.91/lb and AISC of $2.25/lb
o Base case uses consensus long-term copper price of $3.98/lb
Post-Period End Highlights
-- Non-Executive Director Changes
o Appointment of Mr Matthew Doube and Non-Executive Director
o Retirement of Non-Executive Director, Mr Faldi Ismail
-- Project Financing
o Site visits completed as part of senior debt finance due diligence process by proposed lead bank and Independent Technical Expert (ITE) retained as part of bank due diligence process
o Several leading international metals trading groups are undertaking detailed due diligence for financing tied to copper cathode offtake
o Growing interest from Chinese Engineering, Procurement and Construction ("EPC") contractor.
ON BEHALF OF THE BOARD OF DIRECTORS
Darryn McClelland, Chief Executive Officer
-Ends-
For further information, please contact:
Darryn McClelland
Chief Executive Officer, Asiamet Resources Limited
Email: darryn.mcclelland@asiametresources.com
Tony Manini
Executive Chairman, Asiamet Resources Limited
Email: tony.manini@ asiametresources .com
FlowComms Limited
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com
Nominated & Financial Adviser
Strand Hanson Limited
James Spinney / James Dance / Rob Patrick
Telephone: +44 20 7409 3494
Email: asiamet@strandhanson.co.uk
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
Interim condensed consolidated statement of financial position
As at 30 June 2023
30-Jun 31-Dec 2023 2022 Unaudited Audited $'000 $'000 ------------------------------ ---------- ---------- Assets Current assets Cash 2,259 5,185 Receivables and other assets 60 77 2,319 5,262 Non-current assets Plant and equipment 34 36 Right-of-use asset 8 16 Receivables and other assets 65 67 107 119 ---------- ---------- Total assets 2,426 5,381 ------------------------------- ---------- ---------- Liabilities and Equity Current liabilities Trade and other payables 343 657 Provisions 294 288 Lease liabilities - 59 ---------- ---------- 637 1,004 Non-current liabilities Provisions 551 550 ---------- 1,188 1,554 ---------- ---------- Equity Share capital 21,831 21,831 Equity reserves 67,303 66,921 Other comprehensive income 72 71 Accumulated deficit (84,715) (81,743) Other reserves (3,246) (3,246) Parent entity interest 1,245 3,834 Non-controlling interest (7) (7) 1,238 3,827 Total liabilities and equity 2,426 5,381 ------------------------------- ---------- ----------
Note all references to $ are US dollars
Interim condensed consolidated statement of comprehensive loss (unaudited)
For the six months ended 30 June
2023 2022 $'000 $'000 =========================================================== ======================= ======================== Expenses Exploration and evaluation (951) (2,236) Employee benefits (1,282) (1,073) Consultants (55) (185) Legal and Company Secretarial (60) (64) Accounting and audit (2) (4) General and administrative (134) (153) Depreciation (16) (20) Share-based compensation (382) (104) (2,882) (3,839) ----------------------- ------------------------ Other Items Foreign exchange losses (8) (54) Finance costs - (5) Impairment expense (82) (146) Other income - 1 (90) (204) ----------------------- ------------------------ Net loss for the half year (2,972) (4,043) ----------------------- ------------------------ Items that may not be reclassified subsequently to profit or loss: Actuarial gain on employee service entitlements 1 - ----------------------- ------------------------ Total comprehensive loss for the half year (2,971) (4,043) ------------------------------------------------------------ ----------------------- ------------------------ Net loss attributable to: Equity holders of the parent (2,945) (3,937) Non-controlling interests (27) (106) Total comprehensive loss attributable to: Equity holders of the parent (2,945) (3,937) Non-controlling interests (27) (106) Basic and diluted loss per common share (cents per share) (0.15) (0.21) Weighted average number of shares outstanding (thousands) 1,942,542 1,942,542 ------------------------------------------------------------- ----------------------- ------------------------
Interim condensed consolidated statement of cash flows (unaudited)
For the six months ended 30 June
2023 2022 $'000 $'000 ---------------------------------------------------- --------- --------- Operating activities Loss for the half year (2,971) (4,043) Adjustment for: Depreciation 16 20 Share-based compensation 382 104 Net foreign exchange gain (3) (4) Impairment expense 82 146 Finance cost 1 5 Movements in provisions 7 (80) Changes in working capital: Receivables and other assets (63) (145) Trade and other payables (314) 180 Other adjustments: Interest payments (1) (5) Net cash flows used in operating activities (2,864) (3,822) --------- --------- Investing activities Purchase of property, plant and equipment (6) (6) Net cash flows used in investing activities (6) (6) --------- --------- Financing activities Payment of principal portion of lease liabilities (58) (50) Net cash flows from (used in) financing activities (58) (50) --------- --------- Net decrease in cash (2,928) (3,878) Net foreign exchange differences 2 - --------- --------- Cash at beginning of the period 5,185 9,060 --------- --------- Cash at 30 June 2,259 5,182 ----------------------------------------------------- --------- ---------
Interim consolidated statement of changes in equity (unaudited)
For the six months ended 30 June 2023
Total equity Other attributable Non- Share Equity comprehensive Accumulated Other to the controlling capital reserves income deficit reserves parent interests Total $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 =============== ======== ========= ============== ============ ========= ============= ============ ========= Balance at 1 January 2023 21,831 66,921 71 (81,743) (3,246) 3,834 (7) 3,827 Loss for the half year - - - (2,945) - (2,945) (27) (2,972) Other comprehensive income 1 - - 1 - 1 -------- --------- -------------- ------------ --------- ------------- ------------ --------- Total comprehensive income - - 1 (2,944) - (2,944) (27) (2,971) Transactions with owners in their capacity as owners Contribution by parent in NCI - - - (27) - (27) 27 - Share based compensation - 382 - - - 382 - 382 Balance at 30 June 2023 21,831 67,303 72 (84,715) (3,246) 1,245 (7) 1,238 ---------------- -------- --------- -------------- ------------ --------- ------------- ------------ ---------
Interim consolidated statement of changes in equity (unaudited)
For the six months ended 30 June 2022
Total equity Other attributable Non- Share Equity comprehensive Accumulated Other to the controlling capital reserves income deficit reserves parent interests Total $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 =============== ======== ========= ============== ============ ========= ============= ============ ========= Balance at 1 January 2022 19,393 65,975 49 (74,708) (3,246) 7,463 (7) 7,456 Loss for the half year - - - (3,937) - (3,937) (106) (4,043) -------- --------- -------------- ------------ --------- ------------- ------------ --------- Total comprehensive loss - - - (3,937) - (3,937) (106) (4,043) Transactions with owners in their capacity as owners Contribution by parent in NCI - - - (106) - (106) 106 - Balance at 30 June 2022 19,393 65,975 49 (78,752) (3,246) 3,419 (7) 3,412 ---------------- -------- --------- -------------- ------------ --------- ------------- ------------ ---------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
IR KZGZLVNLGFZG
(END) Dow Jones Newswires
September 27, 2023 03:15 ET (07:15 GMT)
1 Year Asiamet Resources Chart |
1 Month Asiamet Resources Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions