RE: A deal without detail10 Nov 2021 21:23
Total Resources (M, I & I)
509mt @ 0.48% Cu, 0.13 g/t Au, 1.28 g/t Ag.
Contained Metal (80%)
1.95mt Cu, 1.69m oz Au, 6.73m oz Ag.
Another billboard today quoted a Juniors asset (copper) and resource, all known information, and their share price at one point rose 20%. The above figures are BEUTONG occasionally mentioned but not often discussed and (IMO) where the real value in this company lies. Invested here in 2015/16 when TM talked about a one billion m/cap company and 50k tpa and have added since. BKM came first then utilize the proceeds from the asset to fund Beutong.
The significance of a local/regional partner is paramount especially in somewhere like Indonesia. However, the current deal (51/49%) could perhaps be brought more in-line with the original arrangement of a year ago, a sale with Asiamet services retained on contract thereby relieving Asiamet of any further commitment (funding) and risk, get the cash today and get on with Beutong.
There are 'bigger fish to fry' for the want of a better expression. Freeport owned (in JV) this prospect in 2006/9, carried out circa 23, 000m of drilling including 147.5m @ 1.32% Cu and only relinquished the prospect when the Financial crisis 2008 arrived and commodity prices fell.