So it looks like the company are estimating end of 2021 for the forestry permit.
The value engineering work which was supposedly finished and due to be released ‘imminently’, they are giving themselves until end H2 2021.
Not exactly inspiring.
Hopefully some finance and drill bit news could trigger some movement before then.
Well, reading that RNS is like walking back through time by three years. One week we are told the value engineering is complete and new NPV is due ‘imminently’, the next we need to do more drilling and more value enhancement work.
I’m afraid I’ve lost all confidence in Manini and the word ‘Clown’ springs to mind - that or ‘Liar’. BKM was supposed to be in production by 2019, now we are looking at 2022 at the earliest.
The only thing I can say positive is 2.2p is a much smaller discount than previous raises and £10mil will last a couple of years. The dilution in the last twelve months has been tragic though.
The company still has a sniff to get out of this mess. If the copper price stays high, the drill bit returns decent cores and the value enhancement work eventually gets published with a more favourable NPV, the share price could rise like the Phoenix.
Sadly, a sh*t company to have been invested in ever since Steve Hughes’ departure.
To answer your question kitty, I don’t think Asiamet have ever been in debt. Manini has always been against it.
Agree the coffers must be low though - the cash position silence is always a giveaway.
Getting bored waiting for the project enhancement announcement. The work is supposedly finished, they need to get on with it.
If the price pushes on from here, I believe we are looking at a break-out. Whether the buying is driven by the prospect of a bargain buy in a booming copper market, or a leak in imminent news remains to be seen. Hoping for a good week.
1) Completion of value enhancement work and release of new, more favourable BKM mine economics
2) BKM mining license grant
Those two bits of news should propel the SP back to 4p+ imo. 1) is ‘imminent’, how long 2) takes is anybody’s guess
So I wonder if Aeternum have friends in high places in Indo and can hold up the BKM mining license. I felt their contact was insinuating this - or at least that they can work in Indo much easier than Asiamet can. Hopefully won’t put other parties off.
Could do with an RNS very soon announcing starting negotiations with other parties.
Quick sale at 6.5p would suit me and I suspect many others.
I also emailed TM directly after the Dec 24th RNS to clarify whether the 2.5m had been paid or not. He never replied, and now I know why.
RNS was deliberately ambiguous, and never made any mention of 10 days for payment. Poor show.
With reference to AE being able to sell their shares or not, now that the deal has been torn up, they will sell (or buy) as they please.