REG - Asiamet Resources Ld - Power Study Completes Inputs for Feasibility Study

Asiamet ResourcesAnnouncement

24/04/2025 07:02

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250424:nRSX9458Fa&default-theme=true

RNS Number : 9458F  Asiamet Resources Limited  24 April 2025

24 April 2025

Asiamet Resources Limited

("Asiamet" or the "Company")

 

BKM Project Power Study Completes Technical Inputs for

Optimised Feasibility Study - Publication Imminent

 

 

Asiamet Resources Limited (AIM: ARS) is pleased to advise shareholders that
the supplementary power supply study for BKM Stage 1, the initial development
phase of the Company's flagship 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.

 

Darryn McClelland, Chief Executive Officer of Asiamet, commented:

 

"Completion of the power study represents the final technical building block
for BKM Stage 1. Importantly, it reflects the benefit of early lender
engagement ensuring that our study aligns with the expectations of our
financing partners and positioning us to move quickly into financing.

 

What we are delivering in BKM Stage 1 is a de-risked, construction-ready
project targeting approximately 10ktpa of copper cathode - a strategically
positioned, scalable supply source of copper into Asia's rapidly growing
copper demand centres. Stage 1 unlocks a platform for broader development
across the KSK licence area, where we see significant longer-term value
potential.

 

With this major milestone complete, our immediate focus shifts to publication
of the Optimised Feasibility Study and the transition to project financing.
The Company also continues to receive inbound interest from groups looking to
engage once the final OFS is published."

 

 

Investor Engagement:

Following the publication of the Optimised Feasibility Study, the Company will
host an Investor Meet Company presentation to provide shareholders with
further insights into the updated project economics and the next steps towards
financing and development. Investors can sign up to receive notifications
about this event via the following link:

 

 ASIAMET RESOURCES LIMITED
 (https://www.investormeetcompany.com/companies/asiamet-resources-limited)

 investormeetcompany.com
 (https://www.investormeetcompany.com/companies/asiamet-resources-limited)

 

 

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.

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDIJMMTMTBTTLA