TIDMARS
RNS Number : 9386L
Asiamet Resources Limited
05 May 2020
5 May 2020
2019 Annual Report & Financial Statements
Asiamet Resources Limited ("Asiamet" or the "Company") is
pleased to present its audited financial statements for the 12
months ended 31 December 2019 ("Financial Statements") as extracted
from the Company's 2019 Annual Report which is now available on the
Company website at www.asiametresources.com and will be provided to
shareholders who have requested a printed or electronic copy.
The Financial Statements are set out below and should be read in
conjunction with the 2019 Annual Report which contains the notes to
the Financial Statements.
All dollars in the report are US$ unless otherwise stated.
2019 Financial and Operational Highlights Include:
-- Beutong Project Mineral Resource Statement updated to contain
metal in Resource on a 100% basis of 2.43Mt (5.3BIb) copper,
2.11Moz gold and 20.9Moz silver (1.95Mt (4.3Blb) copper, 1.69Moz
gold and 16.73Moz silver on an 80% attributable basis).
-- Environmental Permit and approval of the Indonesian Feasibility Study received for BKM.
-- Appointment of Feng (Bruce) Sheng as a Non-Executive Director.
-- Updated Mineral Resource and Maiden Ore Reserve Statements
delivered for BKM reinforcing the integrity, size and scale of the
BKM deposit and providing a solid foundation for our emerging
mid-size BKM copper development project.
-- Completion of BKM Feasibility Study delivered a robust copper
project with post tax NPV(8) of $124.8 million, life of mine
revenue of $1.27 billion and EBITDA of $563.3 million.
-- MOU signed with China Nonferrous Metals for value engineering at BKM.
-- Commenced value enhancement activities for the BKM Feasibility Study.
-- Capital raisings totalling US$4.1 million (before capital
raising costs) completed during the period.
Key Subsequent Events Include:
-- A $3.89 million Placement completed in March 2020 with $3.11
million to Singapore commodities trader and strategic investor,
Aeturnum Energy Pte LTD to become a 19.9% shareholder in Asiamet
with significant support from Asiamet Directors.
ON BEHALF OF THE BOARD OF DIRECTORS
Antony (Tony) Manini, Executive Chairman
For further information, please contact:
-Ends-
Tony Manini
Executive Chairman, Asiamet Resources Limited
Email: Tony.Manini@ asiametresources .com
FlowComms Limited - Investor Relations
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Bhavesh Patel / Stephen Allen
Telephone: +44 (0)20 3440 6800
Email: Bhavesh.Patel@rfcambrian.com / Stephen.Allen@rfcambrian.com
Berenberg
Matthew Armitt, Detlir Elezi
Telephone: +44 20 3207 7800
Email: Matthew.Armitt@berenberg.com / Detlir.Elezi@berenberg.com
Liberum
Clayton Bush, Kane Collings
Telephone: +44 20 3100 2000
Email: Clayton.Bush@Liberum.com
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
Blytheweigh Communications Limited
Tim Blythe / Megan Ray
Telephone: +44 (0)20 7138 3204
Email: Tim.Blythe@blytheweigh.com /
Megan.Ray@blytheweigh.com
Follow us on twitter @AsiametTweets
FORWARD-LOOKING STATEMENT
This news release contains forward-looking statements that are
based on the Company's current expectations and estimates.
Forward-looking statements are frequently characterised by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur. 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. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein.
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
Consolidated Statement of Financial Position
As at 31 December 2019
2019 2018
$'000 $'000
Assets
Current assets
Cash 418 2,679
Receivables and other assets 50 84
468 2,763
Non-current assets
Plant and equipment 197 234
Right of use asset 236 -
Receivables and other assets 86 627
519 861
Total assets 987 3,624
Liabilities and Equity
Current liabilities
Trade and other payables 396 980
Provisions 89 50
Lease liabilities 78 -
563 1,030
Non-current liabilities
Provisions 473 378
Lease liabilities 237 -
710 378
1,273 1,408
Equity
Share capital 10,969 9,983
Equity reserves 56,435 52,804
Other comprehensive income 74 10
Accumulated deficit (64,511) (57,328)
Other reserves (3,246) (3,246)
Parent entity interest (279) 2,223
Non-controlling interest (7) (7)
(286) 2,216
Total liabilities and equity 987 3,624
Consolidated Statement of Comprehensive Loss
For the year ended 31 December 2019
2019 2018
$'000 $'000
Expenses
Exploration and evaluation (3,228) (6,218)
Employee benefits (2,000) (2,341)
Consultants (184) (503)
Legal and Company Secretarial (260) (308)
Accounting and audit (101) (131)
General and administrative (323) (541)
Depreciation (133) (38)
Share-based compensation (298) (480)
(6,527) (10,560)
Other items
Foreign exchange gain/(loss) 89 (479)
Interest income 3 3
Finance costs (26) -
Impairment expense (724) -
Other income 2 1
(656) (475)
Net loss (7,183) (11,035)
Items that may not be reclassified subsequently
to profit or loss:
Actuarial gain on employee service entitlements 64 22
Total comprehensive loss for the year (7,119) (11,013)
Net loss attributable to:
Equity holders of the parent (6,995) (10,681)
Non-controlling interests (188) (354)
Total comprehensive loss attributable to:
Equity holders of the parent (6,931) (10,659)
Non-controlling interests (188) (354)
Basic and diluted loss per common share (0.01) (0.01)
Weighted average number of shares outstanding (thousands) 1,044,185 924,394
Consolidated Statement of Cash Flows
For the year ended 31 December 2019
2019 2018
$'000 $'000
Cash provided from (used for):
Operating activities
Loss for the year (7,183) (11,035)
Adjustment for:
Depreciation 133 38
Share-based compensation 298 480
Settlement of consulting fees via issue of ARS shares 200 -
Net foreign exchange loss/(gain) (32) 33
Impairment expense 724 -
Finance costs 26 -
Movements in provisions 198 272
Changes in working capital:
Receivables and other assets 27 59
Value Added Tax ("VAT") (154) (117)
Trade and other payables (515) (73)
(6,278) (10,343)
Interest payments on lease liabilities (26) -
Refund of security deposit 10 -
(6,294) (10,343)
Investing activities
Purchases of property, plant and equipment (38) (238)
Proceeds from sale of equipment - 3
Payment for additional investment in Beutong Resources - (3,246)
(38) (3,481)
Financing activities
Payment of principal portion of lease liabilities (48) -
Proceeds from warrants and options exercises 237 1,034
Proceeds from equity raising 4,133 13,334
Equity raising costs (251) (944)
4,071 13,424
Increase/(decrease) in cash (2,261) (400)
Cash at beginning of the year 2,679 3,079
Cash at end of the year 418 2,679
Consolidated Statement of Changes in Equity
For the year ended 31 December 2019
Other Parent Non-
Share Equity comprehensive Accumulated Other entity controlling
capital reserves (income)/loss deficit reserves interest interests Total
$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
Balance at 1 January
2018 8,528 40,354 (12) (46,293) - 2,577 (7) 2,570
Loss for the year - - - (10,681) - (10,681) (354) (11,035)
Other comprehensive
income - - 22 - - 22 - 22
Total comprehensive
income - - 22 (10,681) - (10,659) (354) (11,013)
Transactions with owners in their capacity
as owners
Equity raising 1,262 12,072 - - - 13,334 - 13,334
Warrant exercises 62 214 - - - 276 - 276
Option exercises 131 628 - - - 759 - 759
Equity raising costs - (944) - - - (944) - (944)
Share based
compensation - 480 - - - 480 - 480
Acquisition of NCI - - - - (3,246) (3,246) - (3,246)
Contribution by
parent in NCI - - - (354) (354) 354 -
Balance at 31 December
2018 9,983 52,804 10 (57,328) (3,246) 2,223 (7) 2,216
Consolidated Statement of Changes in Equity
For the year ended 31 December 2019
Total equity
Other attributable Non-
Share Equity comprehensive Accumulated Other to the controlling
capital reserves (income)/loss deficit reserves parent interests Total
$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
Balance at 1 January
2019 9,983 52,804 10 (57,328) (3,246) 2,223 (7) 2,216
Loss for the year - - - (6,995) - (6,995) (188) (7,183)
Other comprehensive
income - - 64 - - 64 - 64
Total comprehensive
income - - 64 (6,995) - (6,931) (188) (7,119)
Transactions with owners in
their capacity as owners
Equity raising 873 3,260 - - - 4,133 - 4,133
Warrant exercises 19 122 - - - 141 - 141
Option exercises 26 70 - - - 96 - 96
Equity raising costs - (251) - - - (251) - (251)
Shares issued to
consultant 45 155 - - - 200 - 200
Reclass performance
rights issued to
directors 23 (23) - - - - - -
Share based
compensation - 298 - - - 298 - 298
Contribution by
parent in NCI - - - (188) - (188) 188 -
Balance at 31 December
2019 10,969 56,435 74 (64,511) (3,246) (279) (7) (286)
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
FR GUGDUIUGDGGU
(END) Dow Jones Newswires
May 05, 2020 05:21 ET (09:21 GMT)
Asiamet Resources (LSE:ARS)
過去 株価チャート
から 8 2024 まで 9 2024
Asiamet Resources (LSE:ARS)
過去 株価チャート
から 9 2023 まで 9 2024
