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Asiamet Resources Ltd - White Rock, Canada-based exploration and development company - Extends due diligence period under heads of agreement with PT Delta Dunia Makmur Tbk, which would see Delta contribute USD50 million towards the development of the BKM copper project, in return for a 51% stake in Asiamet subsidiary Indokal Ltd.
Initially, an exclusivity period of 90 days was given to allow Delta to complete its due diligence. During this time, Asiamet has started discussions with several banks in relation to project financing.
Current stock price: 2.46 pence
12-month change: up 14%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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