Asiamet Resources Limited Share News (ARS)

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1.575 0.04 (2.61%)

Bid:

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Spread: 0.05 (3.226%)

Market Cap: £53.28m

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Asiamet completing final work for BKM feasibility study update

Fri, 10th Feb 2023 12:36

(Alliance News) - Asiamet Resources Ltd on Friday said the final part of its cost inputs for the BKM Copper project feasibility study update are being finalised, as it completes the remaining technical work.

Asiamet is an Indonesia-based mining company. Its wholly-owned flagship licence is the BKM Copper project, located north-west of Palangkaraya, the regional capital of Central Kalimantan.

The company said members of PT Bukit Makmur Mandiri Utama's infrastructure construction team have undertaken assessments of the main container port facility at Bagendang, the roads for the proposed route between the port and the BKM project, including inspections of the main access road to BKM and the national highway road construction.

The company added that PT Enmintech has completed a UAV LIDAR survey of the Heap Leach Facility to ensure the accuracy of current earthwork designs.

PT Enmintech also carried out a geophysical study of the area to detail subsurface geology relating to the ground conditions at the proposed infrastructure development.

High-confidence estimates for the capital cost of the project have been received from in-country service providers, the company said, providing "very positive" indications for the cost of the project compared with original inputs.

Asiamet said final cost inputs are expected to be forthcoming.

Asiament noted that discussions have also taken place with the Indonesian state electricity company PLN for power line routes and with a biomass power station for power supply via a dedicated line.

Chief Executive Officer Darryn McClelland said: "We are very pleased with the way the BKM Copper Project FS update has progressed over the last 6 months and are looking forward to presenting the outcomes and forward plans for the project."

In December, the company said the FS update would be delivered in February.

Asiamet shares were down 5.5% trading at 1.37 pence per share on Friday afternoon in London.

By Harvey Dorset, Alliance News reporter

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