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Asiamet Resources Limited ("Asiamet" or the "Company") is pleased to present its audited financial statements for the 12 months ended 31 December 2023 ("Financial Statements") as extracted from the Company's 2023 Annual 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 Annual Report which contains the notes to the Financial Statements.
All dollars in the report are US$ unless otherwise stated.
Key 2023 Financial and Operational Highlights Include:
· Updated Ore Reserve statement issued on 10th May 2023 for BKM delivered the following:
o 19.0Mt @ 0.7% Cu for 137kt contained copper in the Proved Reserve Category.
o 21.8Mt @ 0.6% Cu for 135kt contained copper in the Probable Reserve Category; and
o 40.8Mt @ 0.7% Cu for 272kt of contained copper in the Proved and Probable Reserve Category.
· Updated Feasibility Study on the BKM project demonstrating a technically viable and economic robust copper project with:
o An initial 9.2-year life of mine and 19.6ktpa of copper cathode production
o Life of Mine ('LOM') revenues of $1.4 billion and EBITDA of $655.3 million.
o Capital cost of $208.7 million (excluding growth and contingency $26.7 million)
o Post tax NPV8 $ 162.8 million, IRR 21% (post tax excluding closure costs)
o Payback Period 3.4 years
o C1 cash cost of $1.91/lb and AISC of $2.25/lb
https://www.lse.co.uk/rns/ARS/2023-annual-report-financial-statements-0xubddl2p0utban.html
A R Due any time, pull back today on selling, interesting how plays out, hold and move higher or pull right back. Chart wise needs hold. GLA.
Always risk there using this last rns get placing away in due course, hope not and believe there not as have sufficient funds till year end I think
5.3Blb
The Beutong copper gold project (“Beutong”) is a large is a large porphyry copper-gold system located in Nagan Raya Regency, Aceh on the island of Sumartra, Indonesia. Beutong comprises the Beutong East Porphyry (“BEP”), Beutong West Porphyry (“BWP”) and the Beutong Skarn (“BSK”). Beutong has JORC compliant Resources containing 2.4Mt (5.3Blb) copper, 2.1Moz gold and 20.6Moz silver on a 100% basis and 1.95Mt (4.30Blb) copper, 1.69Moz gold and 16.73Moz silver on an 80% attributable basis.
https://asiametresources.com/our_project/beutong-copper-gold/
Beutong is a much better asset than cascabel because it's resource is at the surface not half a mile down (literally!) And the grades for better at beutong..it's therefore is a much realistic and viable proposition for an investor.....
Beutong (M,I&I) as it stands, LOM revenues (100%) are;
Cu. 2.43 mt @ $10,000/t = $24.3B
Au. 2.11 moz @ $2300/oz = $4.853B
Ag. 20.9 moz @ $27.22/oz = $0.569B
Total US$29.722B
KSK LOM revenues = $1.4B for a NPV of $162.8M.
Pro rata Beutong NPV equates to;
(29.722 ÷ 1.4) × 162.8M = US$3.456B
Using Goldman Sachs year end Copper forecast of US$12,000/t, the Beutong NPV = US$4.021B.
Asiamet own 80%.
There is nothing priced in for Beutong, yet it is enormous with a JORC of 5.3billion pounds of Copper plus large silver & gold resources. To put it into perspective it’s not much different in scale SOLG’s Cascabel asset & that’s valued alone at more than 15 times Asiamets market cap.
Asiamet priced at 1.3p is just a case of low sentiment & a bear market on AIM and small cap. That is changing now.
Do the calculations.
Pro rata on BKM, Beutong has an NPV of US$4B at today's prices with upside.
Probably not many left here who remember this touching 14p. Half that would be a lottery win!
If get confirmation there is either offer or partner then volume increase and should move higher
Great move today, something 4 sure going on in background, on buyer or partner, copper helping market cap 33 million, further announcements due mayb this month.
?
I think the environment has changed for mining juniors as well. They’ve made plenty of mistakes too, but hindsight is a fine thing.
£100m must be a minimum sale price for the company and they’ll be trying for more.
Tony got bit ahead of his self made few statements, one being We've definitively got the assets here to create a business that's worth many hundreds of millions if not billions of dollars." gone quiet Tony of late,
Rains, if you are reading.
Here is the info you were waiting for. The source is twitter and not official RNS so you may be dissapointed but this is showing ballpark $100m NPV ($15m profit per year from start of 2025) based on 2.5MT resource size. The exploration target is up to 50MT and they plan to move into the production of copper cement which will improve recovery and slash transport costs
https://twitter.com/jb_miningafrica/status/1785587543108440312?t=3mt6_h81pf8ja1ffci84wg&s=19
He's been at this for close to 20 years never mind 10.
Nothing wrong with Manini. He's done all this before with his last company...It takes years. 10+ to get a mine going...There is always going to be slip-ups from time to time! But he's an old pro who keeps the fires burning...
You wouldn't get TM anywhere near a Dutch Roundabout and certainly not at the price you suggest.
I really hope you're right that a high ball offer comes in if that is what you are speculating here. The problem is though 1) They've been declaring interested parties for years and years and here we sit nobody believes it anymore and here we sit.. 2) Even if the offers are genuine Chief executive Tony Manini couldn't negotiate a Dutch Roundabout, he simply does not have the skills for it.
People don’t care about manini. People are looking at global affairs, the need to transition, and the need for copper. The rest is just your personal opinion.
31 billion, just bid for Anglo American, just for its copper portfolio. Do you think people are messing about?
This would ten bag if Manini stood down.
It’s done 80% in a month, because this has been undervalued for years. And here you have people saying it’s worthless. It’s a good job actual investors don’t agree with you 🤦🏻♀️.
Some people really do need a life!
Looking good, copper back on up, too buyers there.
Good summary of the value Zak Mir brings