Client NewsAsiamet Resources Limited: Asiamet to Extend DOID Due Diligence Period
Asiamet Resources Limited (“Asiamet” or the “Company”) refers to the market announcement made on 3 November 2021 in relation to the Company entering into a non-binding Heads of Agreement (“HoA”) with PT Delta Dunia Makmur Tbk. (“DOID”).
The HoA, subject to finalisation of due diligence and conditions precedent, would see DOID contribute $50 million (on a staged basis) towards the development of the BKM copper project, in exchange for an interest of up to 51% in Asiamet’s wholly owned subsidiary, Indokal Limited. Indokal Limited is the owner of the KSK Contract of Work, located in Central Kalimantan, Indonesia.
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