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That is a risk mike yes. However, for me a cheeky bid can be the catalyst to move toward proper value. Also I am not sure how many would go for the whole co? Beutong and KSK diff plays?
Now we are going back into a drilling newsflow heavy period I see this starting to move in the right direction again. The first couple of holes will have been well though through by the whole team. SH is still involved as a consultant so would have had a big input into the new drill plan as wel.
Not for the share price right now Mike no but with exception of BFS delay alot of milestones were achieved
Long term tenure KSK
Beutong prod licence
Beutong ownership to 80pc
Beutong drilling to expand resource envelope
BKZ initital resource
BKM BFS delay clearly has been smashed but is now largely complete and will be more robust after more drilling in 6m time.
Margin calls, irrational selling, broader economic concerns with trafe war and weak copper price have exacerbated the sell off due to BFS delay.
We have $4m in bank and drilling at $50 per metre can get strong newsflow in mext 2-3 months. BKM improvements via extra tonnages and better opex. We are now drilling to test porphry beneath BKM/BKZ.
Baroi permit feels close.
Leftfield could be Beutong partner.
At this price just valuing BKM we are discounting copper average next 10 yrs at $2.75 and a WACC of 12pc. Thats before any extra tonnage or mine life being added. Also this allows NOTHING for Beutong, BKZ etc etc
40Explanation of the Ministry of Energy and Mineral ResourcesPreviously r...
https://ceo.ca/ars.l?85d985e7d50e
This was put to bed MT. Local politician trying to make a name for himself brought a case along with local protests against general mining in the area. The case has already been thrown out by central govt. they have categorically stated that all licence conditions have been met in relation to the mining law of 2009 with regard to ARS (and their local subsidiary) and their licences so all carried out legally. Indeed some of the social media news releases were also factually incorrect when alluding to ARS by referring to people who didnt even work at the company.
Great stuff Costello. Thx for your input
Couldnt agree more Steven. Solgold have 12 rigs running on their project.
Lets hope TM can get a good deal done and crack on. Valuation here is ridiculous and a good deal will demonstrate that.
Mkt jitters. Irrational selling.
The assets are still there.
Mgt have continued to improve the assets and knowledge of the assets.
If we have a tough few months copper price wise mgt will keep doing what they did through the downturn. Small raises and keep proving up the assets.
When copper moves higher as it inevitably will in the next 3 years the assets will be ready to yield proper value.
No one cares at $2.75. EVERYONE will care at $3.50.
$1bn mkt cap here we come.
Berenberg in UK equity research expansion despite Mifid https://www.ft.com/content/59b8be10-27a9-11e8-b27e-cc62a39d57a0 via @financialtimes
Russian sanctions another smack for mining related shares. Clearly alot of short term money playing Asiamet is de-risking. As for specific problems we are not aware of it dosent take much to spook people in more bearish climate (news delays for example). TM has said to another investor on twitter that everything in their control ie the company operations is on track. A BFS and all the paperwork involved to get it watertight may always take a bit longer as TM says “to get right”. If you believe that mgt keep executing as they have on milestones then ignore the broader noise near term and sit tight. I have been buying more on this weakness. 2020 is a minimum for me to reflect on where we are at as by then production should be underway and a much clearer plan on Beutong via a PEA. Both of those things (allied to higher copper price as deficit bites) will see Asiamet alot higher than todays levels.
Yep they have jumped the gun a little on timeframes but have they delivered on the milestones as promised? (eventually). The answer to that is an emphatic yes. With the new PR on board and James the CFO not that long appointed I think execution on timeline guidance will be tighter going fwd.
Did u listen to Tonys recent podcast? He talked about more work on the Geotech data being required. Int that Domininc comes in and more work is being done to get the BFS watertight as Tony says “to avoid problems further down the road”. Dominic, Tony et al know the due diligence required to get this right. Get all the is dotted and ts crossed before publication and then financing will be alot easier/smoother. All good things....
I think some money has moved into oil stocks given move in the oil price. When we got no reaction to the BKZ resource I think some have decided to reallocate towards the oils.
Have you read the BKM PEA? Have you seen all the feasibility work updates? 25k tonnes per annum. BFS due by end Q2. So double the production of Finders. Liberums note allowing dilution to raise funds for BKM has 20p price target. Within that is very little for BKZ, Baroi and nothing for Silver mountain. Thats before numerous further potential prospects across KSK. Then you have Beutong which is yet to be appreciated by the market. Yes we need to consider the risks but a mgt team thatvhas been in country for 20 years and built mines previously and put in their own hard cash tends to minimise the risks somewhat in my view. You have sold at 12p and made a tidy profit. Are you now short?
Entitled to an opinion. More Helpful if its backed up with reasoned argument and logic.
Also we have gone up alot as events have happened and new commercially viable resource has been unearthed. So value creation has happned demanding a higher price range. A year ago we had a possible mine at BKM. A year on we have almost completed feasability on that mine and therefore discounted alot more risk to execute it. We have secured long term tenure on favourable terms in KSK WE have delineated a new polymettalic resource at BKZ. We have discovered a deeper zone of copper at BKZ. We are close to a resource on both of the above. Copper prices are higher. We have a production licence secured on Beutong (many were conncerned on this due to politics). I have probably missed some things but all of the above means the company is worth a lot more than it was 12 months ago. It wont go up in a straight line but with myriad newsflow to come and mgt delivering on promises thus far I am very confident on further value creation and the share price in a higher range to reflect accordingly.
Yawn. Change the record please
Thanks for that. 20p is a conservative target at this stage. The note flags alot of the optionality on that to the upside. As many have reiterated 2018 a monumental year and love PB comment on podcast this week “we are just getting started”. If mgt keep delivering as they have last 3 years and copper price moves toward $4 in next 18 months as we go into production this will be a fantastic investment. Forget what the shares have done already “you aint seen nothing yet”
Tone of that response was definitely sarcasm. Fear not
Thanks for adding so much value Chartist. Really insightful comments.
Great news to see new coverage. Expect more in next year. Does anyone have the note? Be great to see a copy. Thanks