https://ca.proactiveinvestors.com Proactiveinvestors RSS feed en Thu, 18 Oct 2018 14:05:39 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Response to social media article ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20181018134001_13834258/ Thu, 18 Oct 2018 08:40:01 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20181018134001_13834258/ <![CDATA[RNS press release - Intersects Broad Copper Intervals at Beutong ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20181018114601_13834064/ Thu, 18 Oct 2018 06:46:01 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20181018114601_13834064/ <![CDATA[RNS press release - Plans Additional Drilling to Enhance BKM BFS ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20181018114501_13834063/ Thu, 18 Oct 2018 06:45:01 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20181018114501_13834063/ <![CDATA[RNS press release - Interim Results ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180925110001_13803694/ Tue, 25 Sep 2018 06:00:01 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180925110001_13803694/ <![CDATA[News - Liberum repeats ‘buy’ rating, 20p target on Asiamet Resources after latest Beutong assay results ]]> https://ca.proactiveinvestors.com/companies/news/203804/liberum-repeats-buy-rating-20p-target-on-asiamet-resources-after-latest-beutong-assay-results-203804.html Liberum Capital has reiterated a ‘buy’ rating and 20p price target on Asiamet Resources PLC (LON:ARS) shares after the group’s latest assay results provided further confirmation of resource upside at the Beutong prospect in Indonesia and also indicated that the East and West Porphyrys may unite at depth.

In a note to clients, Liberum analyst Richard Knights said: “The key takeaway from hole BEU1350-02 was strong copper mineralisation being encountered at depth, with the final four meters of the hole assaying 1.00% CuEq (0.82% Cu, 0.03g/t Au, 75ppm Mo).”

READ: Asiamet Resources intersects strong copper mineralisation at Beutong West

He added: “Management noted that the presence of molybdenum at the bottom of the hole has increased the potential for the high grade copper core to continue at depth - Mo is typically an associate mineral in porphyry deposits as the grade rises.”

The analyst noted: “While the existing resource of 2.4mt of copper and 2.1moz of gold exists above 500m depth, there is plenty of evidence to suggest the market will value deeper copper resources if there is grade.

“The clearest example of this is Solgold PLC (LON:SOLG), which delineated a maiden resource at its Cascabel project in December last year containing 7.35mt of contained copper equivalent metal, including a high grade core of 220mt (indicated and inferred) at c.1.5% Cu equiv.

“The upper part of the high grade mineralisation at Cascabel commences around 500 metres below surface, below the entire maiden resource at Beutong.”

He pointed out that Solgold trades at US$61 per tonne of copper equivalent resource versus Beutong at US$37 per tonne - without backing out the development-ready BKM asset in Kalimantan, which he values at US$181mln, well above Asiamet's current market cap of US$108mln.

Knights said: “If Beutong can find mineralisation at similar grades at depth, there is scope to add large scale tonnes to the existing resource which could drastically increase the value of the asset.

“While the deeper mineralisation would require a withdrawal of the concentrate export ban or an increase in domestic smelting capacity to be developed, the long-lead time on block cave developments would leave plenty of time to address these challenges.”

Partners sought

The Liberum analyst also noted that in the past few months private equity firm EMR Capital - where Asiamet executive chairman (and 3.3% shareholder) Tony Manini is an executive director - has completed two large transactions with Indonesian partners.

He pointed out that the deals highlight the strong links and ability to conduct business in Indonesia at board level within Asiamet.

Knights concluded: “Following the completion of the feasibility study at BKM, Asiamet will be seeking to bring in an Indonesian partner to fund the equity cheque for development of the asset - EMR's recent deals add to validation that the company has the capability to deliver an accretive transaction.”

The analyst pointed out that the next catalyst for Asiamet is publication of the feasibility study for the BKM project in Kalimantan, due next month.

In late afternoon trading, Asiamet shares were 2.8% higher at 9.10p.

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Wed, 29 Aug 2018 14:17:00 -0400 https://ca.proactiveinvestors.com/companies/news/203804/liberum-repeats-buy-rating-20p-target-on-asiamet-resources-after-latest-beutong-assay-results-203804.html
<![CDATA[News - Asiamet Resources intersects strong copper mineralisation at Beutong West at depth well beyond 2014 resource envelope ]]> https://ca.proactiveinvestors.com/companies/news/203759/asiamet-resources-intersects-strong-copper-mineralisation-at-beutong-west-at-depth-well-beyond-2014-resource-envelope-203759.html Asiamet Resources Limited (LON:ARS) said it has successfully intersected strong copper mineralisation at a depth well beyond the 2014 resource envelope at the easterly extensions of the Beutong West Porphyry (BWP) in Indonesia.

In a statement, the AIM-listed miner said drill hole BEU1350-02 intersected 118.0 metres at 0.71% CuEq (0.60% Copper, 0.05g/t gold and 255ppm molybdenum) to the bottom of hole from 632.0m within a broader interval of 398.0 metres at 0.46% CuEq (0.39% Copper, 0.04g/t gold) from 352.0 metres.

READ: Asiamet increases ownership at Beutong copper-gold project to 80%

The group added that strong copper mineralisation remains open to depth with the final four metres of the hole assaying high-grade mineralisation at 1.00% CuEq (0.82% copper, 0.03g/t gold and 75ppm molybdenum). 

It said the presence of strong molybdenum mineralisation in the deeper parts of BEU1350-02 highlights the potential for extensions of the high-grade copper core to the Beutong system at depth and suggests that the BWP and BEP (Beutong East Porphyries) may join in this area.

Asiamet said the hole was terminated in mineralisation at a depth of 750 metres due to rig capacity.

Peter Bird, Asiamet's chief executive officer commented: "This latest drill result highlights the potential for significant further upside to the Beutong deposit(s) and confirms our thoughts that the BEP and BWP may coalesce at depth.

“Our 2018 drilling programme continues to extend mineralisation well beyond the current Resource envelope and a significant uplift in the overall deposit tonnage is expected as further rounds of drilling and Resource modelling and estimation are completed.”

He added: “The ongoing success of our 2018 drill program at Beutong continues to highlight the unique nature of Asiamet's diversified portfolio with a near-term copper development and a suite of large and medium-scale growth options.

“We look forward to keeping all stakeholders updated as the drilling and metallurgical test work programmes at Beutong continue over the coming 4 to 5 months."

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Wed, 29 Aug 2018 07:49:00 -0400 https://ca.proactiveinvestors.com/companies/news/203759/asiamet-resources-intersects-strong-copper-mineralisation-at-beutong-west-at-depth-well-beyond-2014-resource-envelope-203759.html
<![CDATA[RNS press release - Drilling Expands Beutong West Copper Deposit ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180829070006_13770572/ Wed, 29 Aug 2018 02:00:06 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180829070006_13770572/ <![CDATA[RNS press release - Appointment of Berenberg as Joint Corporate Broker ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180821100006_13762868/ Tue, 21 Aug 2018 05:00:06 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180821100006_13762868/ <![CDATA[News - Asiamet Resources' copper assets very undervalued, suggest brokers ]]> https://ca.proactiveinvestors.com/companies/news/202670/asiamet-resources-copper-assets-very-undervalued-suggest-brokers-202670.html Strongly geared to copper, Asiamet Resources Limited (LON:ARS) shares have outperformed even a strong rising metal price over the past two years.

The junior has emerged from a severe mining downturn with a robust, near-term production project, just as the copper sector emerges from the doldrums.

Watch: Asiamet Resources confident of resource boost at 'big beast' Beutong

“We see further gains in the copper price, as the structural deficit starts to bite in 2018," said Optiva 

“We anticipate the potent mix of declining mine production, limited new supply, strikes at major operations, and declining warehouse inventories continuing over the next few years.

BKM Feasibility imminent

In August, Asiamet said it expects the bankable feasibility study for BKM, its most advanced project, to be delivered this quarter.

Work has focused on the high-grade, low-strip BK44 and BK58 zones, where mining is likely to commence.

Metallurgical tests-have indicated that the copper mineralisation is amenable to heap-leach, SX-EW, with high recoveries. 

Optimisation of the mine plan was almost complete with key inputs being finalised, the August update added.

“The heap leach design has undergone extensive review and optimisation with significantly improved expected performance and overall metrics. 

“Capital and operating cost estimates are being benchmarked and will be subject to further review once the mine planning studies are complete shortly. “

This final exercise is expected to provide substantial upside for the project, Asiamet added.

Beutong drill results impress

Liberum, meanwhile, pointed to what it says were further outstanding drill results from Beutong, another of Asiamet’s prospects in Indonesia.

“Results confirmed near-surface extensions to both the East and West Porphyry's, outside the 2014 resource envelope and including significant higher grade (c.1% Cu equiv.) intervals.”

Liberum added the feasibility study at BKM might provide a catalyst to an accretive sell-down at the KSK licence.

Copper assets too cheap

The broker said the copper contained within its projects is being valued at $36/t compared to a peer group peer group average of $118/t.

Liberum adds that Aussie group Finders Resources has an almost identical project to BKM at Wetar Island in Indonesia and it was acquired for US$254mln on an enterprise value basis.

At 9.1p, Asiamet is valued at £84mln (US$108mln). Asiamet also has the BKZ, Beutong and Baroi projects, said the broker, which reiterated its target price of 20p.

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Fri, 10 Aug 2018 11:00:00 -0400 https://ca.proactiveinvestors.com/companies/news/202670/asiamet-resources-copper-assets-very-undervalued-suggest-brokers-202670.html
<![CDATA[News - Asiamet Resources expects feasibility study for BKM this quarter ]]> https://ca.proactiveinvestors.com/companies/news/202667/asiamet-resources-expects-feasibility-study-for-bkm-this-quarter-202667.html Copper explorer Asiamet Resources Limited (LON:ARS) said the bankable feasibility study for its BKM project in Kalimantan will be delivered by the end of September.

Originally scheduled for mid-year, optimisation of the mine plan is almost complete with key inputs being finalised, the junior said in a statement today.

Watch: Asiamet Resources confident of resource boost at 'big beast' Beutong

“The heap leach design has undergone extensive review and optimisation with significantly improved expected performance and overall metrics. 

“Capital and operating cost estimates are being benchmarked and will be subject to further review once the mine planning studies are complete shortly. “

This final exercise is expected to provide substantial upside for the project, Asiamet added.

House Liberum meanwhile pointed to what it says were further outstanding drill results from Beutong, another of Asiamet’s prospects in Indonesia, earlier this week.

“Results confirmed near-surface extensions to both the East and West Porphyry's, outside the 2014 resource  envelope and including significant higher grade (c.1% Cu equiv.) intervals.”

BKM study a potential catalyst

Liberum added that feasibility study at BKM might provide a catalyst to an accretive sell-down at the KSK licence and the recent share price weakness looks unjustified.

The broker said the copper contained within its projects is being valued at $36/t compared to a peer group average of $118/t.

Liberum adds that Aussie group Finders Resources has an almost identical project to BKM at Wetar Island in Indonesia and it was acquired for US$254mln on an enterprise value basis.

Asiamet is currently valued at £84mln (US$108mln) and also has the BKZ, Beutong and Baroi projects, said the broker, which reiterated its target price of 20p.

Shares rose 2% to 9.1p.

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Fri, 10 Aug 2018 10:56:00 -0400 https://ca.proactiveinvestors.com/companies/news/202667/asiamet-resources-expects-feasibility-study-for-bkm-this-quarter-202667.html
<![CDATA[RNS press release - Bankable Feasibility Study Update ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180810100002_13751309/ Fri, 10 Aug 2018 05:00:02 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180810100002_13751309/ <![CDATA[Media files - Asiamet Resources confident of resource boost at 'big beast' Beutong ]]> https://ca.proactiveinvestors.com/companies/stocktube/10066/asiamet-resources-confident-of-resource-boost-at-big-beast-beutong-10066.html Wed, 08 Aug 2018 11:18:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/10066/asiamet-resources-confident-of-resource-boost-at-big-beast-beutong-10066.html <![CDATA[News - Asiamet Resources reports further “excellent” results from drilling program at Beutong copper project ]]> https://ca.proactiveinvestors.com/companies/news/202348/asiamet-resources-reports-further-excellent-results-from-drilling-program-at-beutong-copper-project-202348.html Asiamet Resources Limited (LON:ARS) has reported further “excellent” results from the current infill and extension drilling program being undertaken at the company's 80%-owned Beutong copper project in Indonesia.

The AIM-listed firm said strong mineralisation has been confirmed, extending beyond the 2014 resource envelope in all holes completed thus far.

WATCH: Asiamet Resources confident of resource boost at 'big beast' Beutong

It added that at Beutong East Porphyry, drill hole BEU500-01 confirmed a broad interval of high grade, near surface copper-gold-molybdenum outside the current resource envelope.

Asiamet said infill drilling confirmed moderate-grade porphyry copper-gold-molybdenum mineralisation along the eastern end of the Beutong West Porphyry, with drill hole BEU1350-01 highlighting the potential for mineralisation to extend easterly into the gap between the east and west porphyry.

It added that copper mineralisation in both BEU500-01 and BEU1350-01 comprises covellite, chalcocite and digenite with minor chalcopyrite, demonstrating that the mineralised zones extend both laterally and at depth. 

The group said both holes were terminated due to rig capacity.

Peter Bird, Asiamet's chief executive officer commented: “Beutong's large copper-gold Resource base, when coupled together with excellent nearby infrastructure (road, power and seaport) and the potential to assess a copper leaching process, as demonstrated by the initial sequential copper assaying results, positions the project as an increasingly rare copper development opportunity.”

He added: “Asiamet looks forward to keeping all stakeholders updated as the drilling and metallurgical test work programs continue over the remainder of 2018."

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Tue, 07 Aug 2018 08:01:00 -0400 https://ca.proactiveinvestors.com/companies/news/202348/asiamet-resources-reports-further-excellent-results-from-drilling-program-at-beutong-copper-project-202348.html
<![CDATA[RNS press release - Drilling Extends Beutong Copper Mineralisation ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180807071504_13746132/ Tue, 07 Aug 2018 02:15:04 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180807071504_13746132/ <![CDATA[RNS press release - Exercise of Options ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180719163004_13724744/ Thu, 19 Jul 2018 11:30:04 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180719163004_13724744/ <![CDATA[RNS press release - Appointment of Executive VP - External Relations ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180712080322_13715203/ Thu, 12 Jul 2018 03:03:22 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180712080322_13715203/ <![CDATA[RNS press release - Exercise of Options and Warrants - Replacement ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180702180004_13702539/ Mon, 02 Jul 2018 13:00:04 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180702180004_13702539/ <![CDATA[RNS press release - Exercise of Options and Warrants ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180702124003_13701879/ Mon, 02 Jul 2018 07:40:03 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180702124003_13701879/ <![CDATA[News - Asiamet appoints experienced engineer Dominic Heaton to the board ]]> https://ca.proactiveinvestors.com/companies/news/199555/asiamet-appoints-experienced-engineer-dominic-heaton-to-the-board-199555.html Asiamet Resources Ltd (LON:ARS) has appointed Dominic Heaton as a non-executive director to the board.

Heaton is a highly experienced mineral processing engineer with an extensive background in feasibility studies, project construction, plant commissioning and mine operations throughout Southeast Asia. 

WATCH: Asiamet increases ownership at Beutong copper-gold project to 80%

For seven years, as the chief executive of Masan Resources, he led the development and operations of the Nui Phao tungsten-polymetallic project in Vietnam.

Before that he was closely involved in the development and operation of the 60,000 tonnes per year Sepon leach SX-EW copper project in Laos and in the development of the large Martabe gold mine in Indonesia.

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Tue, 26 Jun 2018 08:03:00 -0400 https://ca.proactiveinvestors.com/companies/news/199555/asiamet-appoints-experienced-engineer-dominic-heaton-to-the-board-199555.html
<![CDATA[RNS press release - Appointment of Director ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180626070008_13693078/ Tue, 26 Jun 2018 02:00:08 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180626070008_13693078/ <![CDATA[Media files - Asiamet increases ownership at Beutong copper-gold project to 80% ]]> https://ca.proactiveinvestors.com/companies/stocktube/9686/asiamet-increases-ownership-at-beutong-copper-gold-project-to-80-9686.html Mon, 25 Jun 2018 08:44:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/9686/asiamet-increases-ownership-at-beutong-copper-gold-project-to-80-9686.html <![CDATA[News - Asiamet Resources takes full ownership of Beutong Resources ]]> https://ca.proactiveinvestors.com/companies/news/199456/asiamet-resources-takes-full-ownership-of-beutong-resources-199456.html Asiamet Resources Ltd (LON:ARS) has purchased the shares in Beutong Resources Pte Ltd that it does not already own for A$4.375mln.

The AIM-listed company bought a 50% stake in Beutong, which wholly-owns the Beutong copper-gold deposit in Indonesia, by exercising its option agreement with PT Media Mining Resources.

The deal raises Asiamet’s effective ownership in Indonesian company PT Emas Mineral Mumi (EMM), to 80% from 40% since Singapore-based Beutong Resources owns 80% in EMM.

WATCH: Asiamet increases ownership at Beutong copper-gold project to 80%

Beutong is a large high-quality copper, gold, silver, molybdenum deposit located in Nagan Raya Regency in the Indonesian region of Aceh.  It comprises the Beutong East Porphyry (BEP), Beutong West Porphyry (BWP) and the Beutong Skarn (BSK) deposits.

'Major milestone' for Asiamet, says CEO

“Asiamet is extremely pleased to substantially lift its interest in this advanced high-quality copper-gold project at a time when the copper market is forecast to be moving into supply deficit and large copper development opportunities with nearby infrastructure are rare,” said Asiamet chief executive Peter Bird.

“Achieving this major milestone doubles the company's attributable contained metal inventory in Beutong to 1.92Mt (mln tonnes) copper, 1.68Moz (mln ounces) gold and 16.48Moz silver.”

This year Asiamet plans a targeted infill and extension drilling programme of eight holes at a total of 4,000 metres.

READ: Asiamet Resources reveals high grade drill results from Beutong project

The work aims to expand the boundaries of BEP and BWP deposits and test the gap between them, further assess geotechnical conditions and the potential for heap leach SX-EW processing of BEP mineralisation to produce copper cathode.

To date three holes at 767.5 metres have been completed. 

 “The company looks forward to reporting on progress at Beutong as the recently mobilised deeper capacity drill rig ramps up and development activities incorporating evaluation drilling, metallurgy and geotechnical activities gain momentum in the second half of 2018,” said Bird.

Asiamet entered into a joint venture and option agreement on the Beutong project with PT Media Mining Resources in February 2011.

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Mon, 25 Jun 2018 07:37:00 -0400 https://ca.proactiveinvestors.com/companies/news/199456/asiamet-resources-takes-full-ownership-of-beutong-resources-199456.html
<![CDATA[RNS press release - Result of AGM ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180625103002_13692122/ Mon, 25 Jun 2018 05:30:02 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180625103002_13692122/ <![CDATA[RNS press release - Lifts Beutong Copper-Gold Project Interest to 80% ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180625070008_13691178/ Mon, 25 Jun 2018 02:00:08 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180625070008_13691178/ <![CDATA[RNS press release - Attendance at Mining Journal Select Conference ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180622105740_13690138/ Fri, 22 Jun 2018 05:57:40 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180622105740_13690138/ <![CDATA[News - Asiamet Resources reveals high grade drill results from Beutong project ]]> https://ca.proactiveinvestors.com/companies/news/198866/asiamet-resources-reveals-high-grade-drill-results-from-beutong-project-198866.html Asiamet Resources Ltd (LON:ARS) told investors the latest results from drilling at the group’s 40%-owned Beutong project in Indonesia.

Drill hole BEU0900-08 encountered high-grade copper gold mineralisation near surface and the mineralisation, which also includes molybdenum, continues into the full drilled interval through to the end of the hole.

WATCH: Asiamet Resources announces maiden resource for BKZ deposit

The hole was drilled in the Beutong East Porphyry or BEP deposit, cut 456 metres of mineralisation and the drilling was curtailed as a result of rig capacity constraints.

Asiamet highlighted that the mineralisation exists beyond the boundaries of the current resource envelope and it remains open (the final 2.3 metres measured 1.14% copper).

The company also said that there’s still potential for Beutong Resource expansion. Meanwhile, further drilling will aim to expand the boundaries of the mineralisation at the BEP and the Beutong West Porphyry (BWP).

"Results received from the current round of drilling at Beutong East demonstrate both the robustness of the central mineralised core and the substantial Resource upside potential that remains to be delineated,” said Peter Bird, Asiamet chief executive.

“Mineralisation has already been extended well beyond the 2013 resource envelope with exceptional continuity …  Beutong's large copper-gold Resource base, when coupled together with nearby infrastructure (road, power and seaport) and the potential to assess a copper leaching process, as demonstrated by the initial sequential copper assaying results, positions the project as an increasingly rare copper development opportunity.”

He added: “This is at a time when the copper market is forecast to be moving into a substantial supply deficit and a stronger copper price environment. 

“Asiamet looks forward to keeping all stakeholders updated as the drilling and metallurgical test work programs continue over the coming 4 to 5 months."

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Thu, 14 Jun 2018 11:02:00 -0400 https://ca.proactiveinvestors.com/companies/news/198866/asiamet-resources-reveals-high-grade-drill-results-from-beutong-project-198866.html
<![CDATA[RNS press release - Intersects 456m of Cu mineralisation at Beutong ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180614102145_13679663/ Thu, 14 Jun 2018 05:21:45 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180614102145_13679663/ <![CDATA[RNS press release - Exercise of Options ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180606120009_13669414/ Wed, 06 Jun 2018 07:00:09 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180606120009_13669414/ <![CDATA[RNS press release - Director Appointment ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180601114501_13663893/ Fri, 01 Jun 2018 06:45:01 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180601114501_13663893/ <![CDATA[RNS press release - Notice of Annual General Meeting ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180525170002_13656532/ Fri, 25 May 2018 12:00:02 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180525170002_13656532/ <![CDATA[RNS press release - Director Changes ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180524080001_13653608/ Thu, 24 May 2018 03:00:01 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180524080001_13653608/ <![CDATA[Media files - Asiamet Resources announces maiden resource for BKZ deposit ]]> https://ca.proactiveinvestors.com/companies/stocktube/9306/asiamet-resources-announces-maiden-resource-for-bkz-deposit-9306.html Wed, 16 May 2018 12:44:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/9306/asiamet-resources-announces-maiden-resource-for-bkz-deposit-9306.html <![CDATA[News - Asiamet unveils maiden mineral resource estimate for the BKZ deposit ]]> https://ca.proactiveinvestors.com/companies/news/197083/asiamet-unveils-maiden-mineral-resource-estimate-for-the-bkz-deposit-197083.html Asiamet Resources Ltd (LON:ARS) has published a maiden mineral resource estimate for the BKZ polymetallic deposit in Kalimantan, Indonesia.

The initial Mineral Resource Estimate for BKZ is subdivided into the BKZ upper polymetallic zone (BKZ-UPZ) and the BKZ lower copper zone (BKZ-LCZ).

WATCH: Asiamet Resources announces maiden resource for BKZ deposit

The BKZ-UPM displays semi-massive to structurally controlled volcanogenic massive sulphide-style lead, zinc, silver and gold mineralisation occurring in a high-grade domain and disseminated style mineralisation in the low-grade domain.

The controls on, and styles of, mineralisation have resulted in significantly different tenors of grade between these domains and hence they are reported separately in the 2018 resource estimate, Asiamet said.

The BKZ-LCZ comprises a quartz-sulphide stock-work zone hosting chalcopyrite and bornite copper mineralisation.

#ARS Asiamet Res Ltd - Initial Mineral Resource Estimate for BKZ Deposit and Further Exploration plans for KSK https://t.co/5y8GxSoqvb pic.twitter.com/uIbHh7HwlM

— Asiamet Resources (@AsiaMet_Res_ARS) May 16, 2018 The BKZ-UPM zone inferred mineral resource comprises:

High Grade Domain - 750,000 tonnes at 8.0% zinc, 3.4% lead, 50 grams per tonne (g/t) silver and 0.35g/t gold containing 132mln lbs zinc, 57mln lbs lead, 1.2mln oz silver and 8,400 oz gold at a 4% zinc cut-off grade

Low Grade Domain - 590,000 tonnes at 1.6% zinc, 0.5% lead, 13 g/t silver and 0.15 g/t gold containing 20mln lbs zinc, 7mln lbs lead, 247,000 oz silver and 2,800 oz gold at a 1% zinc cut-off grade.

The BKZ-LCZ inferred mineral resource comprises:

High Grade Domain - 1.1mln tonnes at 1.1% copper and 13 g/t silver, containing 26mln lbs copper and 460,000 ounces silver at a 0.5% copper cut-off grade

Asiamet said mineralisation remains open in multiple directions at both the BKZ-UPM and the BKZ-LCZ, adding that many targets with potential to expand the resource base remain to be tested.

Exploration drilling aimed at expanding the resource base at the company’s wholly-owned KSK Contract of Work will continue testing extensions to mineralised domains along strike and at depth.

Infill drilling aimed at confirming continuity and consistency of mineralisation types in order to convert part or all of the BKZ resource to the measured and indicated resource categories is planned, Asiamet revealed.

In addition, a metallurgical testing programme to assess the performance of BKZ resource mineralisation to recover lead, zinc, silver, copper, gold concentrates will be undertaken. Subject to receiving positive results a preliminary economic assessment will be initiated.

Asiamet said further core studies and geophysical data have identified a new high-priority target area where the interpretation is that a large magnetic feature at depth may represent an untested porphyry intrusion. This area will be targeted for deep scout drilling in late 2018.

Eight further high priority prospects have been identified in addition to the BKW, BKS and BKZ-BKM link zone targets and Asiamet believes these prospects warrant “aggressive follow-up exploration”.

The prospects include Baroi-FEZ, Gunung Perak, Volcano, Low Zone, Waterfall, Rinjen, Kalang and Bukit Dea. All targets display similar surface geochemical and geophysical signatures to that of the BKZ deposit.

"The reporting of an initial mineral resource estimate for the BKZ polymetallic deposit today represents another very important value-adding milestone for Asiamet,” declared Peter Bird, Asiamet’s chief executive officer.

“The BKZ polymetallic deposit mineralisation is located close to existing roads and the proposed infrastructure for the BKM copper project. The BKZ inventory has the potential to significantly enhance the economics of any mine development in the area,” Bird added.

“Our ability to discover and delineate this high grade, near-surface polymetallic deposit in such a short time-frame clearly demonstrates the largely untapped potential of both the BK district and the broader KSK CoW,” Bird maintained.

“BKZ remains open in multiple directions and all geological indicators suggest the BKM-BKZ corridor and multiple surrounding targets will continue to deliver further substantial growth in the company's mineral inventory over the coming months and years,” Bird said.

BKZ Mineral Resource Estimate, April 2018 (100% basis)


 

BKZ Polymetallic Deposit Inferred Resource Estimate (JORC Code, 2012)

 

 

 

 

 

Upper Polymetallic Zone.  High-Grade Zinc, Lead, Silver and Gold Domain.
Inferred Resources (JORC 2012) *

 

 

Reporting Cut (Zn%)

Tonnes (kt)

Grade

Contained Metal

 

 

Zn   (%)

Pb   (%)

Ag (ppm)

Au (ppm)

Zn 

(kt)

Pb 

(kt)

Ag (koz)

Au (koz)

 

 

4.0

750

8.0

3.4

50

0.35

60

26

1206

8.4

 

 

 

 

 

Upper Polymetallic Zone.  Low-Grade Zinc, Lead, Silver and Gold Domain.
Inferred Resources (JORC 2012) **

 

 

Reporting Cut (Zn%)

Tonnes (kt)

Grade

Contained Metal

 

 

Zn   (%)

Pb   (%)

Ag (ppm)

Au (ppm)

Zn   (kt)

Pb 

(kt)

Ag (koz)

Au (koz)

 

 

1.0

590

1.6

0.5

13

0.15

9

3

247

2.8

 

 

 

 

 

Lower Copper Zone. Copper and Silver Mineralisation.
Inferred Resources (JORC 2012)

 

 

Reporting Cut (Cu%)

Tonnes (kt)

Grade

Contained Metal

 

 

Cu (%)

Ag (ppm)

Cu (kt)

Ag (koz)

 

 

0.5

1100

1.1

13

12

460

 

 

 

 

 

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Wed, 16 May 2018 08:33:00 -0400 https://ca.proactiveinvestors.com/companies/news/197083/asiamet-unveils-maiden-mineral-resource-estimate-for-the-bkz-deposit-197083.html
<![CDATA[RNS press release - Initial Mineral Resource Estimate for BKZ Deposit ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180516070010_13642646/ Wed, 16 May 2018 02:00:10 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180516070010_13642646/ <![CDATA[RNS press release - Exercise of Options ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180502143002_13627652/ Wed, 02 May 2018 09:30:02 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180502143002_13627652/ <![CDATA[RNS press release - 2017 Annual Report & Financial Statements ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180427090001_13621475/ Fri, 27 Apr 2018 04:00:01 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180427090001_13621475/ <![CDATA[Media files - 'Perfect timing & exceptional assets' set to deliver considerable value for Asiamet investors ]]> https://ca.proactiveinvestors.com/companies/stocktube/9112/-perfect-timing-exceptional-assets-set-to-deliver-considerable-value-for-asiamet-investors-9112.html Thu, 19 Apr 2018 16:01:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/9112/-perfect-timing-exceptional-assets-set-to-deliver-considerable-value-for-asiamet-investors-9112.html <![CDATA[RNS press release - Broker Warrants Exercised ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180418153002_13609835/ Wed, 18 Apr 2018 10:30:02 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180418153002_13609835/ <![CDATA[News - Asiamet finds high grades at its Indonesia copper project ]]> https://ca.proactiveinvestors.com/companies/news/195045/asiamet-finds-high-grades-at-its-indonesia-copper-project-195045.html Asiamet Resources Ltd (LON:ARS) said on Monday that drilling has intercepted high-grade copper mineralisation at its 40%-owned Beutong East Porphyry project in Indonesia.

Assay results from the first diamond drill hole of 2018 at the project confirmed up to 1.6% of copper over two-metre sample intervals near surface.

Drilling at the hole, BEU0900-06, had to end prematurely due to defective drill rods but delivered high-grade copper mineralisation with the final 2.9 metres interval assaying 1.2% copper and 0.18 grams per tonne gold and 203 parts per million molybdenum.

The company said the assay results indicate that copper minerals in the BEP deposit are potentially amenable to heap leaching.

READ: Monumental year in store for Asiamet WATCH: Steve Hughes on grades at BKM 

Phase 1 metallurgical test work will be carried out to determine the leachability of the copper species in the BEP.

 Proposed programmes include agitated leach and bottle roll tests, followed by column test work if needed.

"We are excited that drill hole BEU0900-06 successfully reaffirmed high-grade near-surface mineralisation and the first ever sequential assay data confirms soluble copper species within the BEP,” said chief executive Peter Bird.

“This initial data provides further justification to evaluate if a potential heap leach SX-EW process is the more suitable processing route to evaluate for the BEP deposit in the early stage of operation. “

Results pending for second hole

A second short metallurgical hole was completed to obtain enough material for the Phase 1 test work and assays results are pending.  

The rig has moved 75 metres north is drilling a third hole across the orebody to a proposed depth of 675 metres.

“The company has strategically positioned itself with an attractive pipeline of copper growth projects in a rising copper market, and we expect strong news flow throughout 2018,” said Bird.

“We will continue to explore and develop the porphyry and skarn projects at Beutong, including planned metallurgy and geotechnical activities and further extension/evaluation drilling of the known mineralised domains.”

The company remains on track to complete its bankable feasibility study at the BKM copper project by mid-year and to further develop the BKZ Polymetallic project.

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Mon, 16 Apr 2018 11:41:00 -0400 https://ca.proactiveinvestors.com/companies/news/195045/asiamet-finds-high-grades-at-its-indonesia-copper-project-195045.html
<![CDATA[RNS press release - Asiamet April Investor Events - Birmingham, London ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180416151001_13606212/ Mon, 16 Apr 2018 10:10:01 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180416151001_13606212/ <![CDATA[RNS press release - Intersects High Grade Mineralisation at Beutong ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180416111501_13605720/ Mon, 16 Apr 2018 06:15:01 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180416111501_13605720/ <![CDATA[News - Asiamet Resources comes out on top as Liberum provides a bearish assessment of the copper sector ]]> https://ca.proactiveinvestors.com/companies/news/194486/asiamet-resources-comes-out-on-top-as-liberum-provides-a-bearish-assessment-of-the-copper-sector-194486.html The mining team at Liberum Capital have singled out Asiamet Resources Ltd (LON:ARS) as its pick in a copper sector that is heading into surplus, with the price of the red metal set to slide to US$2.50 a pound by the middle of next year.

“We prefer the re-rating upside in developers over the negative earnings momentum of the expensive producers,” the broker said in a note to clients.

The dynamics of the market is such that the rest of the world is no longer eating up supplies Chinese businesses aren’t buying.

After hitting a 2019 nadir, the price should rally to around US$3 a pound, Liberum said.

Glencore a 'sell'

The broker is a ‘seller’ of Glencore (LON:GLEN), Antofagasta (LON:ANTO) and KAZ Minerals (LON:KAZ).

On Asiamet, it repeated its ‘buy’ advice and 20p a share price target (the stock closed Friday at 11.88p).

Last week in an initiation note Liberum called the AIM-listed Indonesia-focused mine developer the best kept secret in copper.

Analyst Richard Knights told investors: “Asiamet is an advanced copper exploration business with assets both near to production and globally significant in scale.”

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Mon, 09 Apr 2018 07:46:00 -0400 https://ca.proactiveinvestors.com/companies/news/194486/asiamet-resources-comes-out-on-top-as-liberum-provides-a-bearish-assessment-of-the-copper-sector-194486.html
<![CDATA[News - Asiamet Resources wowed by size of copper grades at BKM ]]> https://ca.proactiveinvestors.com/companies/news/194426/asiamet-resources-wowed-by-size-of-copper-grades-at-bkm-194426.html Steve Hughes, Asiamet Resources Limited’s (LON:ARS , CVE:ARS) head of exploration has detailed plans for its KsK CoW licence area in Kalimantan after more bumper grades from its BKM copper deposit.

Hughes said the grades seen at BKM from two holes drilled for geotechnical work as part of a feasibility study were ‘phenomenal’.

One hole contained 25% copper over a 1m sample at the northern end of the BK44 zone.

Hughes said Asiamet knew the north end of BK44 was a high-grade zone, but described the results from the two holes drilled as ‘miraculous’ with a 17m intercept of almost 4% copper and another just slightly north of that intercepting 69m at 1.4%.

All this mineralisation starts at the surface, he added, while the ore also leaches very quickly.

Allied to the very high grades, this reinforces the plan to have a starter pit in the north of BKM with high recoveries and a quick payback.

A forestry permit has also been granted for BKM so 'we can now drill again any time around the district'.

BKZ resource soon

At the nearby BKZ deposit, Hughes said he had finished modelling the 3-D geology and a maiden resource should be ready by the end of the month.

The 'unique thing about BKZ is that it is a near-surface polymetallic system with a very high-grade copper system underneath'.

Hughes said Asiamet ‘would attack the thing [BKZ] properly’ after the third year of mining at BKM.

Some of the recent drill holes also showed very high indications of lead/zinc so there is still work to do to prove up the full extent of the BKZ deposit, but 'it looks like it will a nice 5-7 year project'.

It will also mean Asiamet has two mining operations [BKM, BKZ] going at the same time. 

Beutong

Elsewhere, at Beutong (copper/gold) on Sumatra, the rig has been moved to the primary target of the current drill programme.

Hughes adds he would like to drill some very deep holes to establish if it, too, contains very high grades.

Baroi

"Baroi is my favourite project", said Hughes, adding "We are trying to get a permit".

It is underground, but with very high-grade vein systems - Historical results showed 35m at 5% copper and silver at 6 ounces per tonne.

The team is working hard on a permit, he said, and if possible Hughes wants to be drilling this year.

Mansur

At Mansur, assays from a couple of holes should be back soon and Hughes expects to write something over the next couple of weeks to let the markets know how it went.

“If those holes hit zinc, lead or silver I would envision a larger drill programme.”

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Fri, 06 Apr 2018 11:27:00 -0400 https://ca.proactiveinvestors.com/companies/news/194426/asiamet-resources-wowed-by-size-of-copper-grades-at-bkm-194426.html
<![CDATA[Media files - Copper grades at Asiamet's BKM deposit 'off the charts' ]]> https://ca.proactiveinvestors.com/companies/stocktube/8997/copper-grades-at-asiamet-s-bkm-deposit-off-the-charts--8997.html Thu, 05 Apr 2018 10:54:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/8997/copper-grades-at-asiamet-s-bkm-deposit-off-the-charts--8997.html <![CDATA[News - More high grades for Asiamet as feasibility work continues ]]> https://ca.proactiveinvestors.com/companies/news/194132/more-high-grades-for-asiamet-as-feasibility-work-continues-194132.html The latest assay results from the BKM copper project in Indonesia have provided further encouragement for Asiamet Resources Limited (LON:ARS).

The results comprise part of the 2017/2018 geotechnical programme conducted on BKM and have delivered the highest grade of copper mineralisation from surface drilled at BKM to date.

WATCH: Copper grades at Asiamet's BKM deposit 'off the charts'

Highlights include a broad interval of near surface and very high grade copper mineralisation intersected at central area of the BK44 Zone, including 17.0 metres at 3.6% copper.

Another broad interval near surface hit 69.2metres at 1.4% copper, including 3 metres at 2.6% Copper and 4.2 metres at 12.3% copper.

The assays also confirm up to 25.3% copper over one metre sample intervals at northern area of the BK44 zone and up to 18.2% over one metre sample intervals at the central area of BK44 Zone

Assay results have now been received from the entire 2017/18 geotechnical drill programme, consisting of six drill holes totalling 681 metres. The geotechnical drilling campaign was undertaken as part of the ongoing feasibility studies. The company remains on track to complete the feasibility study for BKM by mid-year.

"The tenor of the grade was a higher than anticipated and suggests that a number of higher grade "pods" may be encountered in the earlier stages of mining," said chief executive Peter Bird.

                          

 

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Tue, 03 Apr 2018 08:49:00 -0400 https://ca.proactiveinvestors.com/companies/news/194132/more-high-grades-for-asiamet-as-feasibility-work-continues-194132.html
<![CDATA[RNS press release - Reports BKM Geotech Results - Replacement ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180403111908_13589379/ Tue, 03 Apr 2018 06:19:08 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180403111908_13589379/ <![CDATA[RNS press release - Reports Assay Results for BKM Geotech Holes ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180403073001_13588824/ Tue, 03 Apr 2018 02:30:01 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180403073001_13588824/ <![CDATA[RNS press release - Exercise of Options ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180329170001_13587832/ Thu, 29 Mar 2018 12:00:01 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180329170001_13587832/ <![CDATA[News - Asiamet Resources expects BKZ resource soon as all assays come back ]]> https://ca.proactiveinvestors.com/companies/news/193952/asiamet-resources-expects-bkz-resource-soon-as-all-assays-come-back-193952.html Final assays from recent drilling at the BKZ prospect in Central Kalimantan were consistent with the high grades seen previously, said Asiamet Resources Ltd (LON:ARS).

Broad intervals of high-grade zinc, lead and silver were present in the upper layers, while the lower zone contained a wide interval of high-grade copper-silver mineralisation

WATCH: Asiamet to bring in second rig and expand drilling at Beutong

A maiden resource estimate for both domains at BKZ is expected to be completed in May.

Peter Bird, Asiamet's chief executive said: "The rapid advancement of BKZ from a promising target to the cusp of maiden resource status over the past six months has been outstanding.

BKZ is 800m from Asiamet’s BKM copper deposit where work on a feasibility study is underway, with both located on the company’s KsK CoW licence area.

“Following the completion of our recent capital raising, Asiamet is now in a strong position to continue exploring a number of high potential targets in the highly prospective KSK CoW while simultaneously advancing exploration and development of the large-scale Beutong porphyry Cu-Au project,” said Peter Bird, chief executive.

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Wed, 28 Mar 2018 11:10:00 -0400 https://ca.proactiveinvestors.com/companies/news/193952/asiamet-resources-expects-bkz-resource-soon-as-all-assays-come-back-193952.html
<![CDATA[RNS press release - BKZ Delivers Outstanding Mineralisation ]]> https://ca.proactiveinvestors.com/companies/rns/532/LSE20180328102501_13584839/ Wed, 28 Mar 2018 05:25:01 -0400 https://ca.proactiveinvestors.com/companies/rns/532/LSE20180328102501_13584839/