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Asiamet Resources- Corporate Update
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Asiamet Resources Limited (ASR:AIM) announces updates in relation to the Company’s BKM copper cathode project in Central Kalimantan, Indonesia (“BKM” or the “BKM Project”) and its Beutong copper-gold porphyry project in Aceh Indonesia (“Beutong”).



·    Debt Finance Process: Positive engagement with Lead Bank continues, with financial modelling completed for BKM Project financing. The Company has successfully closed out several items from the Independent Technical Expert (“ITE”) review, meeting the requirements for the initial phase of approvals. The Company is also actively engaged with a prominent Indonesian bank.

·    Engineering Design & Development Strategy: Finalising partners for project execution and engaging partners for project management support. Updates on partner appointments expected before the end of Q1 2024.

·   BKM Project Optimisation: Evaluation of alternative locations for the heap leach facility. Detailed modelling of a new facility will commence in the near term with the expected appointment of a dedicated heap leach design group. The BKM Project execution model is being amended to reflect feedback over the ITE and bank financing process.

·     BKM Project Permitting: Prioritising closure of the final outstanding item required to obtain the forestry permit to develop a mine at BKM. Additionally, awaiting release of the environmental permit from Ministry of Environment for the limestone resource drilling programme to the north of the BKM Project.

·    Power Supply for BKM Project: Advancing Biomass Power Station studies and financing options with turnkey power providers. Study expected to be completed by the end of Q1 2024, with further details on financing and technical partners to follow.

·    Concentrate Logistics: Evaluating truck and barge configurations for cost optimisation. The Company has received encouraging cost estimates from its scoping study.

·    Corporate Development: Elevated interest in the KSK and Beutong assets from multiple parties. The Company is facilitating due diligence and site visits. Advanced, high-quality copper and copper-gold assets in various stages of maturity are rare in the Asian region and are appealing to investors seeking to secure copper metal longer term.

Corporate Update- 07:04:34 01 Mar- ASR News Article | London Stock Exchange


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