REG - Asiamet Resources Ld - Completion of BKM Feasibility Study ITE Report

Asiamet ResourcesAnnouncement

15/05/2025 07:00

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RNS Number : 7332I  Asiamet Resources Limited  15 May 2025

15 May 2025

Asiamet Resources Limited

("Asiamet" or the "Company")

 

Completion of BKM Stage 1 Feasibility Study ITE Report

 

Asiamet Resources Limited (AIM: ARS) is pleased to announce that it has
received the final completed Independent Technical Expert ("ITE") Report on
the BKM Stage 1 Optimised Feasibility Study ("Feasibility Study"), marking the
completion of a key technical input required for the project financing lender
due diligence process.

 

Key Highlights:

 

·    Final ITE Report received: A key requirement for progressing
engagement with potential debt financiers.

·    Alignment of Feasibility Study: ITE actively involved during
Feasibility Study finalisation to ensure it met key technical and commercial
standards required by project lenders.

·    Financing Transition: With all technical workstreams now complete,
Asiamet is preparing to initiate formal project financing engagement with
lenders and intends to confirm the commencement of this process shortly.

The ITE review was undertaken by Behre Dolbear Australia ("BDA"), a subsidiary
of Behre Dolbear and Company Inc, a global mineral industry consulting group,
specialising in independent due diligence reviews. The ITE review commenced in
December 2024 and included site visits in December 2024 and January 2025. The
review was conducted in parallel with the finalisation of the Feasibility
Study over a period of five-months.

BKM Stage 1 is a simplified copper heap leach project targeting
near-surface, higher soluble copper material. It is expected to produce
approximately 10,000 tonnes per annum of LME grade A copper cathode, providing
the foundation for substantial upside from the broader KSK contract of work as
part of Asiamet's staged, long-term development strategy.

 

With the Feasibility Study and ITE Report now complete, the Company is in the
process of preparing a data room to facilitate the structured engagement
process with project finance lenders who have been awaiting completion of the
updated study to commence formal due diligence.

 

Darryn McClelland, Asiamet's Chief Executive Officer, commented:

 

"Receiving the final ITE Report so soon after the release of the BKM Stage 1
Feasibility Study marks a major milestone for Asiamet and reflects the high
level of engagement with the ITE over the last five months to bring this work
to completion.

 

The ITE's ongoing input, particularly around lender expectations has been
instrumental in shaping a study that supports a smooth transition into the
project financing phase.

 

This rapid turnaround enables us to move confidently toward the project
financing phase with a de-risked, development-ready project designed to
deliver approximately 10,000 tonnes of copper cathode per year, underpinned by
a high-quality, lender-aligned feasibility study.

 

With the technical workstreams now complete, we are preparing to open a data
room and expect to begin formal engagement with project finance lenders
shortly. Additionally, we continue to receive strong inbound interest from
strategic investors and look forward to progressing discussions that can
deliver a financing solution for BKM Stage 1 and unlock the broader value
potential across the KSK licence area."

 

ON BEHALF OF THE BOARD OF DIRECTORS

Darryn McClelland, Chief Executive Officer

 

-Ends-

For further information, please contact:

Darryn McClelland
Chief Executive Officer, Asiamet Resources Limited

Email: darryn.mcclelland@asiametresources.com
(mailto:darryn.mcclelland@asiametresources.com)

 

Tony Manini
Chairman, Asiamet Resources Limited

Email: tony.manini@asiametresources.com
(mailto:tony.manini@asiametresources.com)

 

Investor Enquiries

Sasha Sethi

Telephone: +44 (0) 7891 677 441

Email: Sasha@flowcomms.com (mailto:Sasha@flowcomms.com) /
info@asiametresources.com

Nominated & Financial Adviser
Strand Hanson Limited

James Spinney / James Dance / Rob Patrick

Telephone: +44 20 7409 3494

Email: asiamet@strandhanson.co.uk (mailto:asiamet@strandhanson.co.uk)

 

Broker

Optiva Securities Limited
Christian Dennis

Telephone: +44 20 3137 1903

Email: Christian.Dennis@optivasecurities.com
(mailto:Christian.Dennis@optivasecurities.com)

 

Follow us on twitter @AsiametTweets

 

FORWARD-LOOKING STATEMENT

This announcement 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.

 

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