Annuncio • Nov 11
Asiamet Resources Limited, Annual General Meeting, Dec 09, 2025 Asiamet Resources Limited, Annual General Meeting, Dec 09, 2025. Location: the offices of bird and bird llp, 12 new fetter lane, ec4a 1jp, london United Kingdom Annuncio • Sep 17
Asiamet Resources Limited Provides Limestone Resource Drilling Update Asiamet Resources Limited to update on its limestone resource drilling programme at the Rinjen prospect, approximately 12km north of Asiamet's BKM Copper heap leach project in Central Kalimantan, Indonesia. Highlights: Limestone drilling programme 50% complete: all holes intersecting limestone at target depth; Early assays confirm very high-quality limestone (+95% purity); Securing a locally sourced limestone is a critical enabler for BKM, avoiding significant import costs and underpinning a low operating cost base Asiamet's limestone resource drilling programme, being undertaken by the Company's in-house operations team is now 50% complete with 6 holes of the 12-hole programme finished in the initial resource area. All drillholes have intersected the limestone structure at varying depths and all holes have ended in limestone at current target depth of 50m. Based on current progress, the programme is expected to complete by mid-October. Assay results have been received for the first two holes and confirm the very high quality of the limestone source, with results exceeding 54% Calcium Oxide (CaO) as measured by XRF. This equates to a limestone quality exceeding 95%. Importantly, this work forms part of a wider package of optimisation initiatives, including soluble copper recovery improvement and a revised power solution, both of which will also be reported on soon. These enhancements are being incorporated into the BKM economic model supporting the ongoing strategic investor process which is progressing to plan. Annuncio • Aug 16
Asiamet Resources Limited Announces Commencement of Limestone Resource Drilling At the Rinjen Prospect Asiamet Resources Limited announced the commencement of limestone resource drilling at the Rinjen prospect, approximately 12km north of Asiamet's BKM Copper heap leach project in Central Kalimantan, Indonesia. Securing a local limestone source for use in BKM's process plant neutralisation circuit is a key enabler of the project's low operating cost base, eliminating the need to import lime from elsewhere in Indonesia at significantly higher cost. The limestone resource drilling programme is being executed by the Kalimantan Surya Kencana operations team, which has previously completed significant drill campaigns in the area. The first phase comprises approximately 600-700 metres of drilling in one location. A second location is currently being assessed as part of a planned second phase aimed at defining additional limestone resource. Annuncio • May 29
Asiamet Resources Limited has filed a Follow-on Equity Offering in the amount of £1.892133 million. Asiamet Resources Limited has filed a Follow-on Equity Offering in the amount of £1.892133 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 94,606,663
Price\Range: £0.008
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 141,909,995
Price\Range: £0.008
Transaction Features: Subsequent Direct Listing Annuncio • May 02
Asiamet Resources Limited Announces an Update to the Ore Reserve Estimate for Its 100% Owned BKM Stage 1 Copper Project Asiamet Resources Limited announced an update to the Ore Reserve Estimate ("ORE") for its 100% owned BKM Stage 1 Copper Project ("BKM" or the "Project"), located in Central Kalimantan, Indonesia. This updated reserve is the cornerstone of the 2025 BKM Stage 1 Optimised Feasibility Study ("OFS"), which is expected to be published shortly. The selected Ore Reserve pit is smaller than the optimal value pit, preserving the opportunity to process additional ore if an expansion of the heap leach facility is undertaken in future. Publication of this updated new Ore Reserve, ahead of the full 2025 BKM Optimised Feasibility Study, demonstrates clear progress being made in developing the BKM Stage 1 heap leach project. Stage 1 is the launchpad for unlocking the potential of the BKM mineral district and the wider KSK Contract of Work. Ore Reserves are presented in the document "Ore Reserves Statement, BKM Copper Project, Central Kalimantan, Indonesian, as at 30 April 2025". The statement of Ore Reserves (Table 1) has been completed by Australian Mine Design and Development Pty Ltd. ("AMDAD") and is reported in accordance with the requirements of the JORC Code (2012). The information in this announcement and the report to which this statement is attached that relates to the estimation of Ore Reserves is based on information compiled by Mr. John Wyche, FAusIMM (Fellow of the Australian Institute of Mining and Metallurgy) acting as a qualified appointed adviser to Asiamet. Mr. Wyche is a Competent Person within the meaning of the JORC Code 2012 and a Qualified Person for the purposes of the AIM Rules for Companies. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Geological evidence is sufficient to imply but not verify geological and grade (or quality) continuity. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to an Ore Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. The intercept is described by the entire thickness and the average grade of mineralisation. JORC The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ('the JORC Code') is a professional code of practice that sets minimum standards for Public Reporting of minerals Exploration Results, Mineral Resources and ore Reserves. The JORC Code provides a mandatory system for the classification of minerals Exploration Results, Mineral resources and Ore Reserves according to the Company's website at <URL> and appended to this announcement via the following link <URL> Qualified Person's Statement. The statement of Ore Reserves has been completed by Australian Mine design and Development Pty Ltd. (AMDAD) and is reported in accordance with its requirements of the JORC code (2012). The statement of Ore Reserves. The statement of Ore Res reserves (Table 1) has been completing by Australian Mine Design and development Pty Ltd. ("AMD AD") and is reported in accordance With the requirements of the JOR C Code (2012). Annuncio • Apr 24
Asiamet Resources Limited Announces BKM Project Power Study Completes Supplementary Power Supply Study for BKM Stage 1 Asiamet Resources Limited advised shareholders that the supplementary power supply study for BKM Stage 1, the initial development phase of the Company's BKM Copper Project ("BKM" or the "Project"), located in Central Kalimantan, Indonesia, has now been completed. This represents the last major technical input required for the Optimised Feasibility Study ("OFS"), which is now undergoing internal review ahead of publication. Competitive proposals were received from multiple power plant equipment suppliers, providing robust operating cost assumptions tailored to the size and scale of BKM Stage 1. Various configurations were considered, providing flexibility and confidence in the selection of the preferred approach. BKM Stage 1 has been designed as a lower-capex project focused on near-surface, higher soluble copper material. The Project targets annual copper cathode production of circa 10,000 tonnes, with substantial upside potential from the broader KSK Contract of Work as part of Asiamet's staged development strategy. Key Highlights: Power Study Completed: Comprehensive evaluation of power supply solutions finalised. All Opex inputs for the financial model complete. Project Fully Defined: All engineering, cost, and technical studies now complete, presenting a de-risked and execution-ready copper project aligned with lender criteria. Financing Readiness Enhanced: Completion of the supplementary study marks the final technical input for the OFS and enables formal financing preparations to commence. Strong Lender Engagement: Active engagement continues with multiple prospective financing partners, throughout the final stages of study compilation and reporting. Imminent OFS Completion: Finalisation of the power study enables the Company to move swiftly towards OFS publication and progression to the financing phase. With the final input received, the Company will now proceed with final internal reviews of the OFS documentation and expects to announce a release date for the full OFS in the near term. Annuncio • Mar 28
Asiamet Resources Limited Announces BKM Optimised Feasibility Study Near Completion Asiamet Resources Limited advised shareholders that all major engineering and technical studies necessary to deliver the optimised Definitive Feasibility Study ("DFS") for the Company's BKM Copper Project, located in Central Kalimantan, Indonesia are complete. At the recommendation of the prospective lenders, the Company is currently finalising supplementary analysis on power supply to ensure alignment with lender financing criteria. This final piece of analysis is expected to be delivered shortly and marks the last significant component of the DFS. Engineering Completed: All major engineering and project definition work is now complete, significantly reducing overall project risk and substantially enhancing execution certainty. Streamlined Project Design: Comprehensive re-engineering of BKM has created a streamlined, lower capital cost project with significantly reduced construction complexity and associated risks. Strong Lender Engagement: Active and ongoing engagement with multiple lending institutions highlights solid interest for financing the optimised BKM project package. Power Supply: Supplementary work on power supply suggested by prospective lenders is nearing completion. Permits: exploration permit and annual work plan approved for limestone resource drill programme to provide local lime source for neutralisation in copper process plant and water treatment. Value-Upside Potential: Delivering the BKM optimised DFS and project financing substantially de-risks project development. BKM is the key to unlocking the substantial intrinsic value within the highly prospective KSK Contract of Work (CoW). Upon completion of the additional power supply analysis, the Company anticipates providing shareholders with a confirmed date for publication of the DFS. The additional work on power supply is the final input required to complete the DFS. The Company is pleased with the high level of engagement from prospective lenders interested in financing the project. The extensive engineering and optimisation work delivers a robust and construction-ready project into a market hungry for new, strategically positioned copper supply. The company look forward to publishing the optimised BFS shortly and promptly advancing into the formal financing phase. With this pivotal milestone imminent, Asiamet is well positioned to unlock substantial shareholder value from BKM Project and broader growth potential within the KSK Contract of Work. The Company will provide a further announcement shortly confirming the release date of the full optimised Definitive Feasibility study. Annuncio • Nov 26
Asiamet Resources Limited Announces Executive Changes Asiamet Resources Limited announced the appointment of Mr. Mudit Goenka as Head of Corporate Finance. With over a decade in investment banking across Southeast Asia and Europe, Mudit brings a wealth of experience in debt financing, mergers and acquisitions, capital markets and strategic transactions. Mudit most recently served as a Director of Southeast Asia Investment Banking at Bank of America Merrill Lynch ("BAML") in Singapore advising clients on complex debt financings and M&A transactions. During this time, he was closely involved in a number of Indonesian company financing mandates. Previous experience includes leadership roles within BAML's EMEA investment banking division based in London. Mudit's immediate focus will be driving a successful project financing initiative for the Company's BKM copper development project and managing all corporate finance and M&A-related activities for the Company. Mudit holds an MBA from the European Institute of Business Administration (INSEAD), France, and a Bachelor of Business Management from the Singapore Management University. James Deo, current Chief Development Officer and formerly Chief Financial Officer will be leaving the Company at the end of this year to pursue new opportunities. James has been an integral part of the Asiamet management team since early 2018 and is supporting an orderly transition of duties to Mudit over the next month. Annuncio • Nov 14
Asiamet Resources Limited Provides BKM Copper Project Optimisation Works Update Asiamet Resources Limited announced that following the successful completion of its recent fundraising, the company provided a further update on optimisation works being completed in preparation for project financing on the BKM Copper Project ("BKM" or the "Project") located in Central Kalimantan, Indonesia. The Company's core focus is delivery of key milestones to enhance project economics and drive shareholder value. Project Optimisation Update: All engineering inputs from Rexline Engineering and BGRIMM have been received, covering the full scope of Process Infrastructure. Detailed cost estimates for materials fabrication and supply are being incorporated into the master capital cost model. As part of the close out process with Rexline, CEO Darryn McClelland visited their fabrication facility near Surabaya, East Java, meeting the fabrication team and confirming capability to deliver the structural steel and conveyor modules designed for BKM. Asiamet has appointed Prosys to deliver project management services including development of a detailed manpower schedule and cost estimate for engineering, procurement and construction management ("EPCM"), utilising a 100% Indonesian team which will be reflected in the updated BKM Project capital cost estimate. Power Supply: Asiamet and its biomass power consultant, PT Britmindo Sumber Daya Hijau ("Britmindo"), are engaged with equipment suppliers and EPC contractors working to deliver capital cost estimates for biomass power plant equipment. Recent visits to Central Kalimantan palm oil milling facilities have provided inputs into biomass supply quality and pre-processing needs. These collaborations aim to secure the power plant biomass fuel source and deliver an updated power tariff for a smaller 7-8MW power plant now needed for the Project. Remaining Optimisation Milestones: Asiamet remains on schedule to complete remaining engineering and optimisation objectives by the end of Fourth Quarter 2024. Key milestones and anticipated news flow include: Fourth quarter 2024: Finalisation of materials cost estimates, construction schedule, and financial model with updated capex and opex estimates. First quarter 2025: Re-engagement with banks for debt financing facilities, supported by final engineering studies and bank due diligence. First quarter 2025: Resource drilling on the Rinjen limestone deposit to lock down a local source of processing limestone supply. Annuncio • Jun 25
Asiamet Resources Limited Provides Further Update on Optimisation Work for the BKM Heap Leach Project in Central Kalimantan, Indonesia Asiamet Resources Limited provided a further update on optimisation work for the BKM heap leach project in Central Kalimantan, Indonesia ("BKM" or the "BKM Copper Project"). Following the recent announcement of the BKM heap leach facility ("HLF") earthworks optimisation results, the Company has made further significant advancements to lower the initial capital expenditures required to reach first production. As previously announced, a revised HLF location allows for a staged construction of the HLF pad, significantly reducing bulk earthworks and upfront capital costs. This strategic change is expected to shorten construction timelines, move HLF construction off the critical path in the project development schedule and expedite timelines to first revenue and cashflow. Following on from this HLF optimisation work, the Company has focused its efforts on additional opportunities identified to further reduce pre-production capital expenditure and execution risk in the initial phase of the BKM mine development. The first stage of the BKM Copper Project will focus on developing a smaller capacity, higher-grade, higher-margin mine centred around a revised open pit design which sits entirely within the footprint of the 2023 BKM Feasibility Study (FS) pit. The new pit design is expected to considerably lower the upfront capital cost, improve operating efficiencies and lower construction risk. The major benefits emanating from these optimisation works are expected to flow through to significantly enhanced project economics for BKM, as the Company continues to advance financing for the initial BKM mine development. The highlights below detail the key changes to the 2023 FS, based on the Company's internal work. Highlights: Mining Physicals: 47% Decrease in Total Material Mined. LOM Strip Ratio Reduced from 1.37 to 0.72:New pit design moves 28Mt material compared to 38.4Mt. These large reductions in material movement reduce the total mining costs and accelerate project timelines. As the volume of waste material moved per tonne of ore extracted reduces, the life of mine ("LOM") strip ratio improves significantly from 1.37 to 0.72, improving mining efficiency, reducing operating costs, and enhancing project economics. Flexibility for Future Expansion: Crucially, the new pit design sits entirely within the 2023 FS pit design and allows for seamless future expansion of the mine to lift copper production capacity. Processing Physicals: Higher Soluble Copper Grade:Ore processed is 28Mt at 0.55% soluble copper grade compared to 38.4Mt at 0.51% in the 2023 FS. Heap leach pad lift heights are reduced from 10m to 6.6m, allowing for earlier copper extraction and potentially accelerating first production of cathode. Although total cathode production direct from the heap leach reduces from 154.1kt over 10 years to 122.4kt over 13 years, the higher processed soluble copper grades and reduced heap leach pad lift heights are expected have the potential to enhance early-stage project cash flow and economics. Heap Leach Facility Design: Staged Construction for Cost Efficiency:The new design of the BKM HLF allows for the first three years of stacking operations to be conducted on a much smaller area, reducing upfront construction requirements. In year three, the HLF pad will be extended to accommodate remaining stacking needs. The current total height of the HLF is 66.3m, which could be extended to approximately 72m to accommodate a total capacity of 29.2 million tonnes of ore stacked. This phased approach lowers initial capital expenditure, aligns construction with an expedited production timeline, and ensures cost-effective scalability. The Company's engagement with Rexline Engineering and BGRIMM is advancing engineering design on the basis of the optimised BKM Copper Project plan, following completion of which updated cost estimates will be delivered. Further announcements will be made in due course. BKM Copper Project Stage 1 Optimisation: The fundamental change of position and design for the heap leach facility has led to an optimised approach to developing the BKM mine with a clear focus on reducing pre-production capex. Earthworks represent a major component of the upfront capital cost for the project and the new position, which sits within the current footprint of the BKM site, enables staging of the earthworks for developing the heap leach pad which was not possible in the previous position. Taking this into account, the approach to mining, processing and copper production was able to be compressed into a smaller footprint, smaller capacity and higher-grade stage 1 project which is expected to deliver a significantly lower pre-production capex cost and subsequently reduces the risk profile of the project. Project economics are expected to be significantly enhanced as a result of the physical design changes. Key points emanating from optimisation works compared to the 2023 FS are: An incremental 10.4Mt of ore is available to mine at a strip ratio of 3.1. The updated approach does not preclude the Company from completing an expansion of the BKM pit to any feasible size dependent on future approach to economic ore extraction. The reduction in material movement leads to a large reduction in annual mining volumes. A flow on reduction in the overall capital and operating expenditure is expected from a reduction in the size and scale of the mining fleet required for the revised project bulk earthworks. The stage 1 mine plan considers only copper ore which can be recovered via low-cost heap leach processing. The Company continues to evaluate the best approach to maximizing copper extraction and creating value from the larger BKM JORC compliant resource base which sits outside the stage 1 mine plan. The significantly reduced footprint offers greater flexibility for the future allowing for a phased approach to development. Future expansions will be based on the ability to treat the primary sulphide copper resources at BKM and the integration of the BKZ polymetallic deposit. All process equipment is being scaled down to reflect the change in capacity and production requirements. The maximum copper production rate as defined by the Electrowinning Circuit design parameters is circa 11,000tpa. Annuncio • Jun 05
Asiamet Resources Limited, Annual General Meeting, Jun 26, 2024 Asiamet Resources Limited, Annual General Meeting, Jun 26, 2024. Location: the offices of bird and bird llp, 12 new fetter lane, ec4a 1jp, london United Kingdom Annuncio • May 16
Asiamet Resources Limited Reports Positive Results Flow from Recent Optimisation Work Completed for the BKM Heap Leach Project in Central Kalimantan, Indonesia Asiamet Resources Limited reported positive results flowing from recent optimisation work completed for the BKM heap leach project in Central Kalimantan, Indonesia. Detailed optimisation work on BKM by heap leap experts, Mineria & Servicos SPA, Chile (M&S) has been focused on a progressive development of the Heap Leach Facility (HLF) to reduce upfront project capital cost. The HLF is the single largest capital cost item in the 2023 Feasibility Study and is the critical path activity for project construction. Optimisation Results: a revised location for the BKM HLF was assessed with updated HLF pad designs completed by M&S. The overall bulk earthworks volumes for the new pad are less than half that of the 2023 design. Critically, the revised location allows the HLF pad to be constructed in two stages, with the first stage development to enter production delivering a bulk earthworks volume of approximately one-third of that required for the 2023 FS design. Implications: the considerable reduction in bulk earthworks to achieve first production results in a substantial decrease in the upfront capital cost of this critical phase of the project. A substantial reduction in bulk earthworks volumes is also expected to reduce construction timeline and move the HLF construction off the critical path in the project development schedule. BKM Project Heap Leach Facility Design Optimisation: On completion of the BKM 2023 FS, several project opportunities were identified by the Company. The first and most significant opportunity identified was the potential for construction of the BKM HLF in a revised location, with the opportunity described in the 2023 FS as such: The location of the HLF presented in the 2023 FS was chosen due to the proposed operational parameters of the project, namely copper production rate and time to leach/dissolve the copper from the BKM ore. When compared to the 2019 BKM FS, the updated 2023 FS approach to developing the HLF significantly reduced the cleared area required, driven primarily by a reduction in ore volume stacked and the processing rate being reduced. The total excavated earthworks volume for the BKM HLF was 3.2 million cubic metres, however the location of the facility and its design necessitated all bulk earthworks for the final pad design be completed at the time of project construction with no opportunity to defer capital expenditure to later in the mine life. A review of previous work was undertaken to assess the potential for better alternatives for the BKM HLF. As part of this work, an area previously considered to be too small for the proposed production rate and leach cycle, was re-evaluated using updated parameters and demonstrated the opportunity to build the HLF in two stages, thus reducing the volume of earthworks and ultimately the initial capital cost to get BKM into production. The overall earthworks volumes for the new HLF are as follows: Stage 1: Excavated Volume - 1.1M cubic metres, Fill Volume - 1.3M cubic metres. Final Stage: Incremental Excavated Volume - 1.0M cubic metres; Fill Volume - 0.74M cubic metres. Additional fill to balance the earthworks for Stage 1 will be supplied from excess excavated material elsewhere on the project. The greatly reduced overall excavation volumes will be very positive from a cost and construction schedule perspective, and the revised location is easier to complete construction works on. In addition, several key aspects, including water management and the close proximity of excavation/fill materials, deliver a lower overall construction risk profile for the new HLF design. Annuncio • Apr 17
Asiamet Resources Limited Reports the Results of Recent Drill Samples Collected During Due Due Dilence Site Visitors to the BKM Project Area in Central Kalimantan, Indonesia Asiamet Resources Limited reported the results of recent grab samples collected during due diligence site visits to the BKM project area in Central Kalimantan, Indonesia (‘BKM’ or the ‘BKM Copper Project’), within the KSK licence area. During First Quarter 2024, Asiamet hosted several site visits to its KSK licence area as part of due diligence processes by third parties in respect of proposals to either acquire or partner with the Company. On one of these visits, four surface grab samples were collected for confirmatory analysis. Rock Sample Results: two samples collected from surface in the central area of the BKM deposit, assayed 24.0% and 23.3% Copper. Two additional samples collected from an outcrop of the nearby BKZ deposit assayed 7.20% Zn, 5.60% Pb, 74g/t Ag, 0.21% Cu, 0.16g/t Au and 25.6% Zinc, 16.1% Lead, 75g/t Ag, 0.43% Cu and 0.57g/t Ag. Implications: These high-grade results are consistent with previous surface sampling and reinforce the upside potential of both the BKM and BKZ deposits. The BKM samples were taken from within the central location of the pit where the initial ‘Starter Pits’ are to be mined in the current mine schedule. These starter pits have been designed to mine high soluble copper grade material early in the mine life. BKM Site visit and Grab Sample Results: During First Quarter 2024, Asiamet hosted due diligence site visits to KSK for third parties in respect of proposals to either acquire or partner with the Company. There can be no guarantee that any offer for or partnership with the Company will ultimately result from the site visits at this stage, and further announcements will be made in due course, as appropriate. Grab samples were taken by one of the parties and a request made for Asiamet to arrange detailed analysis of the samples at an accredited laboratory in Indonesia. Two surface samples (KSK5 and KSK6) were collected from the surface of the BKM deposit and two (KSK11 and KSK12) from the surface of BKZ. The BKM samples were collected from the central area of the proposed mine, whilst the BKZ samples were taken from a surface outcrop of the deposit. Assays results align with the results of previous sampling campaigns at both the BKM and BKZ deposits. Annuncio • Mar 30
Asiamet Resources Limited Announces Successful Completion of the KSK Biomass Feedstock Study Asiamet Resources Limited announce the successful completion of the KSK Biomass Feedstock Study, a crucial milestone in progressing a power solution for the Company's BKM copper cathode project in Central Kalimantan, Indonesia Undertaken in collaboration with Britmindo Mining Services Singapore Pte Ltd, the study is a comprehensive assessment aimed at establishing a sustainable power solution for the BKM Copper Project within and/or proximal to Asiamet's KSK licence area, in which BKM is located. The study, emphasising Asiamet's commitment to a renewable energy solution for the proposed greenfield BKM Copper Mine, addressed key parameters crucial for the development of a biomass power station in a remote mining region. All aspects referenced below will be developed in further detail once project execution and project development partners for the biomass power station are locked in, which are expected to be achieved in Second Quarter 2024. Abundant Biomass Feedstock Resources:Through an extensive in-field investigation, data collection and analysis, the study has identified ample biomass feedstock sourced primarily from palm oil mills within a 100km radius of the proposed power plant location that could feed a biomass power station dedicated to the BKM Copper Project. Robust feedstock supply not only ensures operational sustainability but also aligns with Asiamet's commitment to a renewable energy solution for BKM. Remote Mining Power Solution:The biomass power station offers a reliable, renewable energy solution for producing copper cathode at BKM. By leveraging local biomass resources, the project contributes to increased economic empowerment in the direct project area. Power Plant Location Assessment:Comprehensive evaluation concluded, proposing a unique cost-effective and lower carbon footprint transportation solution optimising available biomass transportation routes and significantly reducing the distance of the High-Voltage transmission line. Partnership model:Following the framework outlined in the 2023 Feasibility Study, the biomass power plant will be operated by a third party who will be responsible for its construction, operation and maintenance. Asiamet is actively engaged in advanced discussions with potential partners interested in fully financing the dedicated biomass power plant for the BKM Copper Project and will make a further announcement relating to an MOU or similar agreement once this is complete. Sustainability Focus:The study underscores Asiamet's commitment to sustainable development by prioritising the use of renewable energy solutions to power BKM. Biomass feedstock sourcing from palm oil mills promotes circular economy principles and reduces reliance on fossil fuels. The scope of work for the KSK Biomass Feedstock Study encompassed several key components aimed at establishing a sustainable power solution for the BKM Copper Project; these were as follows: Identification of Palm Oil Mills: Initial efforts focused on identifying and evaluating biomass feedstock sources, with a particular emphasis on palm oil mills located within a 100km radius of the proposed power plant location. Rigorous field investigations and data analysis were conducted to assess the suitability and availability of biomass feedstock, ensuring a robust supply chain for the biomass power station. The palm oil derived biomass material is of value for its energy content however it remains a stranded asset due to its location. This opens the opportunity for use in power generation for the BKM Copper Project at relatively low cost. Optimal Power Plant Location: Simultaneously, the study optimised biomass transportation routes by evaluating existing infrastructure and potential transport networks. This entailed detailed assessments to minimise transportation distances and associated costs while maximising logistical efficiency. Site evaluations were then undertaken to identify suitable locations for the biomass power station, considering factors such as accessibility, environmental impact, and proximity to biomass feedstock sources. Cost Analysis of Feedstock Transportation: Thorough analysis of transportation costs considers distance, terrain challenges, and environmental sustainability. Strategies to minimise carbon footprint and optimise logistical efficiency are integrated into transportation planning models. Viability of Transmission Line Construction: Detailed assessments of transmission line route feasibility addressed terrain complexities and potential cost implications. Emphasis was placed on minimising environmental impacts and optimising energy transmission efficiency. Moreover, the feasibility of constructing high-voltage transmission lines to connect the biomass power station to the BKM Copper Project site was thoroughly assessed. This involved conducting detailed surveys to identify potential routes, evaluate terrain challenges, and assess environmental impact and regulatory requirements. Integration of Sustainability Principles: Throughout the study, sustainability principles were paramount, with a focus on the use of renewable biomass feedstock and minimising environmental disruption aligning with Asiamet's commitment to responsible resource development and environmental stewardship. Annuncio • Mar 28
Asiamet Resources Limited Announces BKM Project Engineering Design and Execution Update Asiamet Resources Limited announced a further update in relation to the Company's wholly owned, development stage, BKM copper project located in Central Kalimantan, Indonesia ("BKM" or the "BKM Copper Project"). Early EPC Engagement: Asiamet has engages project execution partners for engineering, procurement, and construction, optimising project integration and cost estimation accuracy. Specific focus on critical path project engineering activities. Execution Partners Appointed: PT Rexline Engineering Indonesia selected for comprehensive engineering design covering materials handling and non-process related infrastructure elements, ensuring continuity and cost efficiency. Beijing Research Institute of Mining and Metallurgy engaged for process infrastructure engineering, leveraging expertise from prior successful collaboration. Further contractor Engagement and Project Management: engagement progressing with contractor for site earthworks, pre-production development, and mining services, prioritising early engagement for cohesive project execution. Partnerships to strengthen project management capabilities, enhancing efficiency in scheduling, cost estimation, and planning. Engineering Design & Development Strategy As previously indicated, in response to feedback from the Independent Technical Expert (ITE) review of the 2023 Feasibility Study ("2023 FS") as part of the debt financing process, the Company has refined its approach to delivering engineering design, procurement and construction and implemented a strategy of engaging partners early to deliver engineering design, procurement and construction across various scopes of work for the BKM Project. This approach enables improved integration of project execution disciplines and an expected increase in accuracy with respect to project capex estimation. The Company has chosen the following preferred execution partners for delivery of the BKM Project - the work areas referenced cover the entire site-based scope of work: PT Rexline Engineering Indonesia ("Rexline") Rexline will complete engineering design of the crushing and ore handling system and non-process infrastructure such as the main accommodation camp, site offices, workshop and warehouses. Rexline have significant experience in delivering design and construction of this type of infrastructure in the Central Kalimantan coal industry. Rexline will provide cost estimation for all construction execution excluding scope related to project bulk earthworks, mine operations infrastructure development and pre-production mine operations.ijing Research Institute of Mining and Metallurgical ("BGRIMM") BGRIMM will deliver engineering for the Solvent Extraction, Electrowinning, Water Treatment ("SX-EW") and Reagent Preparation process infrastructure. This strategy differs from the 2023 FS, in that separate contractors were engaged to provide quotes for the cost of project earthworks and mining operations. The Company is committing to an integrated approach of project and operations earthworks to leverage the use of common mobile equipment fleet. Further details of this contractor engagement will be provided as they become available. The Company is engaging with suitable partners capable of providing project management support updating key project execution deliverables such as project schedule, capex estimate and project execution planning. BKM Copper Project Optimisation An improved heap leach facility location has been proposed and detailed modelling of a new facility layout is underway through engagement of Chilean expert heap leach design group Minera and Servicos (M&S). The outcome of this work will be communicated in second quarter 2024. Optimisation of engineering resources and costs, along with low-cost equipment and materials sourcing will be realised through the aforementioned project partner engagement strategy. Annuncio • Nov 17
Asiamet Resources Limited announced that it expects to receive £3.302019 million in funding from PT Delta Dunia Makmur Tbk Asiamet Resources Limited announced a non-brokered private placement of 366,891,000 common shares at a price of £0.009 per share for gross proceeds of £3,302,019 on November 15, 2023. The transaction included participation from new investors PT Delta Dunia Makmur Tbk, and Darryn McClelland, CEO of the company for 4,000,000 new common shares. The transaction has been approved by the board of directors of the company. Annuncio • Oct 30
Asiamet Resources Limited Announces Board Changes Asiamet Resources Limited announced the following changes to its Board of Directors with immediate effect: appointment of Mr. Peter Chambers as a Non-Executive Director and retirement of Dr Peter Pollard as a Non-Executive Director. Mr. Chambers has over 25 years of experience primarily in finance, telecommunications and investment oversight. Mr. Chambers is a representative of Asiamet's largest shareholder, PT Delta Dunia Makmur Tkb (DOID). He holds the position of commissioner with DOID and its mining services company PT Bukit Makmur Mandiri Utama (BUMA). Mr. Chambers also holds various non-executive director positions as disclosed in the table below and is a member of several the audit committees of the companies he is either a director of, or involved with. Mr. Chambers was a director of PT Agincourt Resources, owner of the Martabe Gold Mine, located in North Sumatra, Indonesia, and an advisor to private equity firms Farallon Capital and Tiga Investments. With an in-depth understanding of the financial and regulatory environment in Indonesia, Mr. Chambers' experience enhances the finance and governance capability of the Asiamet Board. Mr. Chambers holds a Bachelor of Finance and Accounting degree from RMIT, Melbourne. Dr Peter Pollard has retired from the Asiamet Board. Dr Pollard was Chairman and Director of Asiamet's predecessor company, Kalimantan Gold Corporation from July 2013 and Chairman of Asiamet until February 2017. Dr Pollard was the Chairman of the Company's Audit and Risk Committee. The Company's Audit and Risk Committee will be expanded to three members with experience across legal, regulation and permitting (Eva Armila), commercial, accounting and finance (Peter Chambers) and operations (Dominic Heaton) and will be chaired by Mr. Peter Chambers. Peter John Chambers (aged 67) has held the following directorships in the past five years: Current Directorships /Partnerships: PT Siloam International Hospitals Tbk; PT Delta Dunia Makmur Tbk and PT Bukit Makmur Mandiri Utama. Directorships /Partnerships held within the past five years: PT XL Axiata; PT Agincourt Resources; PT Kredit Pintar; PT SR Labs; Indo Mines Ltd; Sapex Pty Limited and PT Nusantara Turbin & Propulsi. Annuncio • Sep 22
Asiamet Resources Limited Announces Board Changes Asiamet Resources Limited announced the following changes to its Board of Directors: Appointment of Mr. Matthew Doube as a Non-Executive Director and Retirement of Non-Executive Director, Mr. Faldi Ismail. Mr. Doube is a highly experienced senior executive with an extensive background in investment banking, corporate finance and strategy, including more than fifteen years in the metals and mining sector. Mr. Doube is a representative of Asiamet's largest shareholder, PT Delta Dunia Makmur Tkb. with responsibility for corporate finance strategy and execution. He has extensive experience and networks within the banks covering the resources sector, particularly in Australasia. This further strengthens Asiamet's capability as the Company progresses the BKM copper project. Mr. Doube was previously CFO for ASX listed Nusantara Resources Limited, leading the advancement of the Awak Mas Gold project in Indonesia. Mr. Doube holds a Bachelor of Laws and Legal Practice and a Bachelor of Commerce in Accounting and Finance from the Flinders University, South Australia. With the appointment of Mr. Doube, Mr. Ismail will retire from the Asiamet Board. Mr. Ismail has been a Non-Executive Director of Asiamet since 2015 before which he was the Deputy Chairman, CEO and Managing Director of Asiamet's predecessor company, Kalimantan Gold Corporation. He has served as member of the Board Audit Committee and the Remuneration and Nomination Committee. Annuncio • May 13
Asiamet Resources Limited, Annual General Meeting, Jun 13, 2023 Asiamet Resources Limited, Annual General Meeting, Jun 13, 2023, at 10:00 Coordinated Universal Time. Location: Bird & Bird LLP, 12 New Fetter Lane, EC4A 1JP London United Kingdom Annuncio • May 11
Asiamet Resources Limited Announces an Update to the Ore Reserve Estimate ("Ore") for Its 100% Owned Bkm Project, Located in Central Kalimantan, Indonesia Asiamet Resources Limited announce an update to the Ore Reserve Estimate ("ORE") for its 100% owned BKM Project, located in Central Kalimantan, Indonesia. This update is provided as part of the updated Feasibility Study (FS)[1]. The Statement of Ore Reserves (including the JORC Table 1 Section 4) for BKM was completed by Australian Mine Design and Development Pty Ltd. ("AMDAD") and is reported in accordance with the requirements of the JORC Code 2012. A summary of the highlights of the Ore Reserve are detailed below: Highlights - 2023 BKM FS Update: BKM Ore Reserves now comprise: 19.0Mt @ 0.7% Cu for 137kt of contained copper in the Proved Reserve category. 21.8Mt @ 0.6% Cu for 135kt of contained copper in the Probable Reserve category. 40.8Mt @ 0.7% Cu for 272kt of contained copper in the Proven and Probable Ore Reserves category. Low strip ratio of 1.2. Ore Reserves are reported based on extraction by open-pit mining and processing by heap-leach and solvent extraction /electro-winning ("SX-EW"). Additional information to accompany the Ore Reserve Statement: The Ore Reserves have been compiled as part of the Updated Feasibility Study (UFS) which was completed to account for the significant changes in the macro-environment for new projects. The UFS covers all aspects of the project: Mineral resource estimation (no change from 2019 Resource model); Geotechnical assessment of stability of final pit wall design utilising updated assessment of rock mass quality and updated hydrogeological conceptual model and finite element numerical model, pit stability assessed in both 2D and 3D limit equilibrium analysis; Heap leach assessment based on column test work and heap stability and permeability assessment, consolidated reporting of all heap leach test work and updated interpretation of copper recovery model, iron dissolution and acid consumption/generation characteristics; Updated site climate assessment and revised water balance and water quality modelling; Mine cost estimation based on detailed budget pricing from experienced local mining contractors utilising equipment considered appropriate for scale of mining; Feasibility Study design of the heap leach pad earthworks, liners and reticulation; Feasibility Study design of the crushing, conveying and stacking system; Feasibility Study design of the Solvent Extraction and Electrowinning; Feasibility Study design of Process Plant Neutralisation and Mine ARD water treatment facilities;Processing and maintenance cost estimation for the designed facilities matched to the scheduled ore feed from the mine; Site services and administration cost estimation; Copper price forecasting for cathode product; Cost estimation for Transport and Logistics for inbound operational cargo and cost estimation for cathode backhauled to central facility; Open Pit optimisation based on the above parameters to define the pit shape and overall strategic plan; Detailed pit design including staging and design of access for ore and waste to the ROM pad and waste rock dump respectively; Detailed production scheduling of the mine, heap leach stacking and copper cathode production; Capital costs for the above items based primarily on quotations on equipment, from detailed material take offs;, Sustaining capital cost estimation based on a range of staged planned investments such as pit dewatering capacity, heap leach interlift liners and ARD water treatment capacity; Preliminary mine closure cost estimation; Financial modelling; Environmental and social assessment through the Indonesian AMDAL process, completed previously. The Ore Reserve Estimate is derived from the June 2019 BKM Resource Estimate by application of Modifying Factors. The Company is not aware of any changes which could affect this Resource estimate The Ore Reserve Estimate is reported within the final pit design forming the basis of the UFS. It does not include Inferred Mineral Resources. The Ore Reserve Estimate considers Inferred Resources within the pit design to be waste rock. Conventional open cut mining methods will be used. Mining loss and dilution factors were estimated by re-blocking the irregular block sizes in the resource block model to 5m x 5m x 5m. The resource model blocks are clipped against interpreted boundaries for the mineralisation. The regular re-blocked block size reflects a workable mining size for the proposed scale of mining and grade control and the geometry of the mineralisation. If mining loss and dilution were applied on a global basis, the re-blocking would be equivalent to 96% mining recovery with 11% dilution at 0.11% soluble copper. Whittle™ pit optimisation was run on the re-blocked resource model. Inputs for the pit optimisation included: Overall wall slopes by geotechnical domain as advised by specialist geotechnical consultants. Mining costs based on mining contractor quotes and estimated owner costs. The capital cost estimate has been built up from a range of sources with all major fixed plant equipment being based on vendor quotations. The costs for site/Heap Leach civil earthworks have been provided by an experienced civil infrastructure contractor. Engineering design has been taken to a Feasibility Study standard. Growth allowance has been allocated at varying levels depending on confidence in the cost information provided. Royalties are based on the current Government of Indonesia standards as it relates to production of Copper Cathode. Cost estimates cover the periods through construction, operation, closure and post closure. A discount rate of 8% pa was applied and references the Company's weighted average cost of capital. The prevailing corporate taxation rates taxation have been applied in accordance with the laws of Indonesia. Annuncio • Feb 10
Asiamet Resources Limited Provides Update on Recent Works Undertaken to Finalise Various Components of the Feasibility Study Update for the Bkm Copper Project, Located in Central Kalimantan, Indonesia Asiamet Resources Limited provided an update on recent works undertaken to finalise various components of the Feasibility Study Update (FS Update) for the BKM Copper Project, located in Central Kalimantan, Indonesia. During the latter part of December 2022 and through to the current year to date these activities include: Logistics & Site Access: The Asiamet CEO and members of BUMA's Infrastructure Construction team completed a week-long visit to Central Kalimantan to undertake the following activities: Site assessment of the main container port facility at Bagendang on the Mentaya river and meeting with Port Management; A full assessment of roads for the proposed logistics route from the container port to the proposed BKM mine-site; Assessment of several site areas related positioning of infrastructure; Inspection and assessment of the main access road with representatives of the forestry contractor responsible for road corridor construction and maintenance; Inspection of national highway road construction on key sections that will form part of the logistics corridor to the BKM site; These assessments have provided a strong level of confidence in the proposed approach to transport and logistics for the project. Site Survey: KSK's survey services partner PT Enmintech have completed two key scopes of survey work. Unmanned Aerial Vehicle (‘UAV’) LIDAR survey of the Heap Leach Facility and Non-Process Infrastructure area to update the current LIDAR survey for detailed design and to confirm current topography to ensure accuracy of current earthworks designs; Geophysical study using non-invasive Passive Seismic Horizontal-to-Vertical Spectral Ratio (‘HVSR’) across the Heap Leach Facility and Non-Process Infrastructure area. This study will provide detail of subsurface geology across the entire area related to key infrastructure development. Importantly this work delivers more detailed information on the ground conditions to be encountered during earthworks on the project. Capital Cost Estimate: This critical workstream utilised specialist service providers based in Australia, China and Indonesia for initial inputs. In early January comparative proposals were received from an additional in-country service provider capable of delivering several key packages within the BKM Processing Plant flowsheet. High-confidence estimates were received in a short space of time, and these have been very positive for the capital cost of the project relative to original inputs. Final cost information is expected shortly, and once received these will complete the BKM Copper Project capital cost update, a key requirement for completion of the Feasibility Study economics. Power: PLN (the Indonesian State Electricity Company) delivered an assessment of the powerline route, capital costs and possible tariff arrangements for connection of the BKM Project to the Kalimantan grid network. The proposal is currently being reviewed and a final meeting will be held to close out any outstanding items; Further discussions were held with the providers of a Biomass Power Station option for the supply of power to the BKM project via a dedicated transmission line. Some additional data has been requested, however overall, the study into the feasibility of this power option has provided attractive economics. Power generation via biomass is common at Palm Oil Mills across Indonesia. Remaining workstreams of a technical nature have also been completed or are in the process of being completed to close out requirements in the relevant Feasibility Study chapters. Key outcomes from technical studies that could have impacted Capital or Operating Cost estimates have been completed such that these will not hold up completion of financial modelling. The Company expects to be able to present the full outcomes of the FS Update soon upon completion and collation of these final workstreams. 
