Member Info for Coyote2020

Adjusting for Gold and Silver equivalent prices of US$4000 and US$38 respectively,

Beutong - £73.65M

KSK - £81M

Total m/cap £154.65M or 4.77p/sh.

Gremlin in the works here.

M/cap £146.85M or 4.5p/sh.

Correction - 4.44p/sh.

4 years ago a broker assessment was made using a peer group multiple comprised of the market value of companies that own a majority interest in large copper projects or the transaction value of an acquisition of a large copper project. Based upon US$9000/t valuation came in at £121M excluding geopolitical and development stage risk. Using a copper price of US$11000/t and risk discounts of 15% and 50% respectively gives a valuation of £65.86M. Add the KSK offer price of £81M gives a total company valuation of £143.85M or 1.44p/sh.

Excited or not,

2 New strategic investors?

+

2 Management intimations?

+

1 New exploration in an American hotspot.

=

5 Potential catalysts.

.....should atleast put the company back on the radar.

Preference the word 'fit' and not necessarily take the highest price come what may.

Ferber has possibilities.

Drill targets - Nevada - Critical minerals - news anytime now.

Be careful of what you wish for, it's a complex part of the world.

Asiamet said interest was strong and recieved multiple offers for KSK. All proposals were based upon 100% and full control of the project. Selection appears to be based around fit rather than highest price, a sound strategy given the location. The possibilities of a counter offer are therefore good.

Well there's a conundrum.

Is a glass half empty or is it really a glass half full and about to be replenished?

Speculative review/assessment here that five prospects out of eight will have 'produced the goods' by the end of Feb'26.

Thanks Dc.

The Western Foreland (28001) appears to take prime position in amongst the rest.

A re-rate here is on the cards.

Yesterday's announcement was a major milestone and the best news to come out of Asiamet for over 5 years when they were last at this inflection point.

The deal then, a 50% sale retaining 50% equity and therefore no special dividend for shareholders failed to complete. Covid set-in which seemed to affect the Indonesian people as much if not more than most worldwide and it has taken considerable effort to get back on track and realign the company assets with market trends and changing Indonesian constraints such as downstream in-country processing for example.

Strategy has remained the same and fully focused throughout. Two assets, one moderate size the other large and globally significant, develop and monetise the first funded by the capital markets and use the proceeds thereafter to develop the second.

Concern over percentage dividend at this juncture is superfluous. The more that is left with the company improves the success rate at Beutong.

Beutong up and running is the end game here and a £2 Billion m/cap or more. Fretting on additional pence today when they could be pounds in the future is meaningless.

Correction - 1% Royalty.

Have the Zimbabwe licences been renewed ?

If so, then that puts both Kamativi and Bulawayo Gold back in the running.

The Lithium price crashed a good while back leaving the Chinese to go bargain hunting for new ground and territory. We know (somehow) Galileo were approached concerning the Kamativi Lithium/Tin prospect. I guess they have been haggling over the price ever since. News expected soon.

Bulawayo Gold in Zimbabwe, a country with perhaps the highest discovery rate globally per square kilometre, the gold price at an all time high and forecast to go even higher, I say no more.

Interesting to see which one of these prospects is out of the stalls first.

The Dark Horse, Licence No 41551 - HQ - SEL granted on the 21/10/25 covering the splay fault and issued to GWEMWE Investments as highlighted by DC looks favourite.

Ferber has moved up the ranks since the earn-in (1% in 2 stages) and EMX Royalties. Subsidiary Bronco Creek Exploration have extensive knowledge of the area making an ideal partner to realise the potential here. The £1.7M capital raise should more than cover the costs. Also, EMX supplied Mila R with 3 licences in W.Australia. Recent drilling at Jarrol, the company has bagged considerably.

Luansobe is waiting on IRH would be my guess.

KCB, 28001, Kas hitu are all in the 'thick of things' so any upside is possible and at anytime.

Looking good to coin a phrase.

It doesn't take 10 years to drill a few holes even at 1000m+ and produce a DFS in a bull market, copper at $11000/t, gold at $4000/oz, silver at $40+/oz. In a prolonged bear market plus Covid, maybe. Also, Asiamet will be well funded to carry-out the work and be in a strong position to cherry-pick any other assets should they become available.

A great result.

Bigger is most definitely better, Mr Manini.

Beutong is 20 times bigger than the KSK.

A DFS on this prospect gives an equivalent share price of 50p.

That leaves BEUTONG.

Contained metal (100%);

2.4Mt Cu. 2.1Moz Au. 20.6Moz Ag.

With massive upside!

What are the chances of an improved offer from somebody else?