Asiamet Resources Limited DOID Diligence for BKM Copper Project Complete (6009Q)
2022年6月29日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
TIDMARS
RNS Number : 6009Q
Asiamet Resources Limited
29 June 2022
29 June 2022
DOID Diligence for BKM Copper Project Complete
Asiamet Resources Limited ("Asiamet" or the "Company") advises
that the due diligence undertaken by PT Delta Dunia Makmur Tbk.
(DOID) including the first phase diligence by a bank recommended
Independent Technical Expert (ITE) has been completed for the BKM
copper project, located in Central Kalimantan, Indonesia.
Key highlights of this process include:
-- DOID has completed an extensive due diligence process on the BKM copper project;
-- No project 'red-flags' indicated from the ITE following
provision of independent report to the Company and DOID; and
-- DOID continues to be very supportive shareholder and is
working with the Company on finalising next steps with respect to
advancing the BKM project to development.
As advised in previous news releases (28 January 2022, 2 March
2022 and 25 May 2022) the Company has been working extensively with
DOID and the recommended ITE to review the 2019 Feasibility Study
for the BKM copper project. This work covered all technical
workstreams and the Company is pleased to report that the review
indicated no red-flags or fatal flaws of a technical nature. The
key findings of the ITE's review of the 2019 study are being
addressed as part of the updated 2022 FS being undertaken by NewPro
Engineering, including updating capital and operating costs and key
economic assumptions.
While this extensive diligence process has taken considerable
time, a key benefit is the progress that has been made towards
project financing. This places the Company in a strong position,
confirming all work to be finalised before commencing the debt
financing process.
As previously indicated, the completion of the diligence process
and the initial ITE review of the BKM copper project concludes the
diligence period for DOID and the expiration of the exclusivity
period. The Company and DOID are advancing discussions on a
preferred path for consolidating the strategic partnership between
both companies and advancing the BKM project to financing and
development .
Ronald Sutardja, President Director (DOID) commented:
"We are pleased with the outcome of the extensive due diligence
process and the report from the ITE providing a clear pathway to
project financing for the BKM copper project. As the largest
shareholder of Asiamet we look forward to working closely with the
Company to support the development of the strategically important
BKM copper project."
Tony Manini, Asiamet Executive Chairman commented:
"Having now completed extensive diligence on the BKM copper
project with DOID, Asiamet is in a strong position heading into
project financing. This extended diligence process has also allowed
us to incorporate the recommendations of the proposed ITE into the
feasibility update currently being undertaken by NewPro and hence
fast track a key component of the financing process. We maintain a
strong working relationship with DOID in respect of the key inputs
into the feasibility study, project financing and development
strategy for BKM. As our largest shareholder DOID is fully aligned
with the Company's objectives for developing the BKM copper project
in the fastest timeframe possible, and we are currently in
discussions to achieve those outcomes. The Company remains well
funded to complete this work."
ON BEHALF OF THE BOARD OF DIRECTORS
Tony Manini, Executive Chairman
For further information, please contact:
-Ends-
Tony Manini
Executive Chairman, Asiamet Resources Limited
Email: tony.manini@asiametresources.com
Investor Enquiries
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com / info@asiametresources.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
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
Follow us on twitter @AsiametTweets
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDBKCBNPBKKPAB
(END) Dow Jones Newswires
June 29, 2022 02:00 ET (06:00 GMT)
Asiamet Resources (LSE:ARS)
過去 株価チャート
から 6 2024 まで 7 2024
Asiamet Resources (LSE:ARS)
過去 株価チャート
から 7 2023 まで 7 2024