Member Info for Tardis

There is not enough detail in this deal for the market to respond positively. May come out in the wash in the next weeks and months, but at the moment it is bare bones.

At this rate will get my money back here (42p average).

Always plenty of investor confidence in this share. Let’s hope the turnaround story plays out.

More assays due, should be within the next month.

Not sure when stope news will come through - any ideas?

JP Morgan dumped their shares in a junior minor I am invested in a few years ago because market cap fell below 50 million (pounds or dollars, not sure which). This was apparently a policy. My only knowledge on the matter.

As I recall it tanked because they had made no progress in improving either production amounts or yield. Then further bad news followed.

The turnaround has at least started now.

What news is expected next? Are there more drilling assays to come? Stope news?

Enjoy the wknd

Not had a chance to listen to interview.

Any discussion about how revenue flows will work when mine producing?

Will 49% of revenue flow diectly to Asiamet Ltd or will 100% of revenue flow to ‘PT KSK’? If so how does revenue/profit flow to Asiamet Ltd?

‘DOID has purchased 51% of the company, not of KSK! That means they have significant control of everything.’

This is wrong. Read the RNS.

They will own 51% of Indokal, which is a subsidiary of Asiamet.

Blue, seems you beat me to it in your interpretation of the deal.

I don’t think you are right saying the debt will sit with Asiamet. I think it will sit with ‘PT KSK’.

So Asiamet Ltd will be a company that owns Beutong, and 49% of ‘PT KSK’.

Having re-read the RNS, I think the key to understanding it is the following statement;

‘Upon successfully completing Tranche's 1-4 and earning a 51% interest, DOID at its election can transfer the earned equity interest from Indokal to PT Kalimantan Surya Kencana ("PT KSK"), the owner of the KSK CoW’

So would the end result would be an Indonesian company, 51% owned, and therefore controlled, by DOID, with Asiamet as a 49% shareholder? Furthermore, would it be ‘PT KSK’ that raises the debt funding, and not Asiamet Ltd?

If so, it is not clear how the mine profits then feed back to Asiamet.

Confusing...

A few have expressed their exasperation this morning and sold up.

I suspect you have just sold at the bottom.

Buy low, sell high.

Sounds like a good time for TM to do an interview to explain the nuances of the deal

With regard to the block on buying shares in the company, this seems a prudent move to me. TM is trying to avoid another scam, whereby DOID delay payment, crash the share price, then acquire it at bargain basement on the sly. TM feels the company is undervalued at present, and also knows once the payments start rolling in from DOID, the share price will rise. Smart move.

Duster, I agree, the partnership is a good one

Mine development cost is $193m I believe. $50m is 26% of that figure, leaving 74% to be financed elsewhere.

Will re-read the RNS, have I missed the part about DOID financing 51% of the mine?

So the equity part of the deal announced yesterday amounts to 26% of the finance required.

Is offtake and debt of 74% an achievable figure to get the mine fully financed? Presumably TM thinks so. Anyone got experience of previous financing arrangements? Is it a realistic goal?

I think the deal can be characterised as ‘more waiting required’. Not the blockbuster most investors were hoping for, but it should take BKM to production with an Indonesian heavyweight on board.

The key point is the mine should now reach development. 49% of a 25,000 tonne per annum copper cathode mine at today’s prices is over $100m revenue per annum for Asiamet.

That’s where the value is in this deal for shareholders

My thoughts too...

How much additional funding to bring it to production required?

Wonder if seller is that Beetham guy? Can’t be that many around with 8 figure holdings

Whoever it is, hope they are done

Come on TM, time for a deal. Your shareholders deserve a medal for the patience they are having to show

25p?

On a day the SP fell by 5%, there were over 3:1 buys to sells. Go figure...

Just enough to ramp up production