REG - Asiamet Resources Ld - Update on Proposed Sale of Indokal (KSK Project)

Asiamet ResourcesAnnouncement

27/01/2026 17:30

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RNS Number : 6168Q  Asiamet Resources Limited  27 January 2026

27 January 2026

Asiamet Resources Limited

("Asiamet" or the "Company")

 

Update on Proposed Sale of Indokal (KSK Project)

and

Beutong Project Update

 

Asiamet Resources Limited (AIM: ARS) is pleased to provide an update on the
status of the conditions precedent relating to the proposed sale of its
interest in Indokal Limited ("Indokal"), which owns a 100% indirect interest
in the KSK Project and associated BKM Copper Project ("KSK"), to Norin Mining
(Hong Kong) Limited ("Norin Mining"), as announced on 6 November 2025. The
Company also provides an update on the Beutong Project.

Indokal (KSK Project) Sale - Conditions Precedent Progress

As previously announced, completion of the sale is subject to, inter alia:

(a)  approval of the sale by the Company's shareholders;

(b)  customary Chinese regulatory approval required by Norin Mining; and

(c)   other transaction-specific conditions relating to KSK.

The Company provides the following update on progress:

·      Shareholder approval: The proposed disposal remains subject to
approval by shareholders of Asiamet at the General Meeting due to be held on
29 January 2026.

·      Chinese regulatory approval: Norin Mining has confirmed to the
Company that it has completed the submission of all the required materials for
the relevant Chinese regulatory approval. The application is currently under
review by the relevant authorities, and, based on customary approval
timelines, Norin Mining has indicated that it expects this approval to be
obtained in February 2026.

·      Other transaction-specific conditions: Progress continues on
seeking to satisfy the remaining transaction-specific conditions relating to
KSK, including relevant Indonesian regulatory processes. The Company does not
currently anticipate any material issues in relation to these processes.

The Company will provide further updates to the market as appropriate as the
remining conditions precedent continue to progress.

Beutong Project

The Company remains focused on advancing the Beutong Project in line with its
development objectives.

In December 2025, the Aceh region of Indonesia, where the Beutong Project is
located, experienced severe and widespread flooding, which resulted in
significant disruption to communities and regional infrastructure. During this
period, engagement with local and regional authorities was temporarily
deprioritised, as government focus shifted to recovery and restoration of
essential services.

With regional recovery efforts now progressing, the Company remains committed
to advancing the optimal pathway for Beutong and has resumed discussions with
the relevant authorities.

The Company will continue to keep shareholders informed as appropriate.

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

Shore Capital
Toby Gibbs / George Payne

Telephone: +44 20 7408 4050

 

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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