Asiamet Resources Ltd

AIM LISTED BASE METALS COMPANY FOCUSED ON DEVELOPMENT AND EXPLORATION OF ITS HIGH QUALITY, LARGE SCALE, COPPER-GOLD AND BASE METALS DEPOSITS IN INDONESIA
Company Exposure

Copper, Gold & Base Metals

Company Listing

Asiamet Resources

Stock Code

AIM:ARS

Company Overview



Asiamet is an advanced copper, base and precious metal exploration company with an economic interest in two Indonesian license areas. Its most advanced asset is the proposed 25ktpa BKM SX-EW copper mine, for which it expects to complete a BFS in Q2’18. Its largest asset is the Beutong copper-gold porphyry deposit with 3.1mt of contained Cu equivalent metal at 0.6% Cu equivalent. The Beutong IUP covers two porphyry copper-gold-molybdenum prospects has excellent infrastructure with major roads, grid power and is in close proximity to a local port. The Company has an option to earn up to an 80% interest in the Beutong Project pursuant to the terms of an existing option agreement.The BKM Project is a shallow dipping near surface deposit. Results of the PEA study demonstrate excellent potential for developing a robust, low strip ratio, low capital intensity copper project with low operating costs, strong cash flow generation capacity and significant upside potential through further Resource growth. The results from the PEA delivered an after-tax NPV of $US204.3M, an after tax IRR of 38.7% with a payback period of 2.4 years over an 8 year mine life. Other key assets include the BKZ and Baroi polymetallic discoveries.

Investment Highlights

Compelling Value
  • AIM listed company with a market capitalisation of ~£110m. Significant shareholder in JP Morgan Asset Management (8.39%)
  • Trading at a substantial discount to NAV and represents an excellent value proposition
  • On-track to deliver the Feasibility Study for BKM during H1 2018

 

Quality Assets
  • District scale prospectivity with multiple additional Cu and Au targets
  • Large and growing copper resource base, solid grade, significant upside
  • BKM PEA outlines highly attractive economics, exciting new potential at BKZ
  • Assets with potential to grow a US$1bn + company
  • Strong government and community relationships
  • Good logistics for all projects

 

Proven Team
  • Focussed team with a proven track record with experience in Indonesian discovery, mine development & funding
  • The team has been involved in major mine building and operations in the region – including Sepon, Martabe, Prominent Hill and Golden Grove

 

Value
  • Copper market is rising off a cyclical low. Strong base metal prices with upward momentum
  • Supply-demand fundamentals indicate strong outlook for base metal prices
  • Asiamet trading at a deep discount to comparable assets by most historical market metrics

 

Timing
  • Rare near-term development-ready copper project
  • Outlook for copper price recovery is closely aligned to Asiamet development timelines
  • Strong news flow from feasibility studies and ongoing exploration and resource drilling
  • Assessment of major copper porphyry at Beutong
  • Re-rating anticipated as key milestones are achieved and Company transitions into a producer
Live Financials

Price: p11.75
Shares Outstanding: 924.92M
Market Capital: £108.68M
Year High: p15.00
Year Low: p4.07
Latest Announcements

Share Price Performance

Team

Tony Manini – Director, Exec-Chairman
Peter Bird – Director, CEO
Stephen Hughes – Director, VP Exploration
Peter Pollard – Non-Executive Director
Faldi Ismail – Non-Executive Director

Major Shareholders

JP Morgan Asset Management
Asipac Group
Board & Management
Namarong Investments

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Projects Overview


KSK Project – BKM medium term cash flow

  • BKM Copper Deposit – Feasibility Stage
  • BKZ Polymetallic Project – Maiden Resource Stage
  • Baroi Prospect – Future Evaluation
  • Strong pipeline of additional Cu-Au prospects

 

Beutong Project

  • Large scale Cu-Au resource

KSK PROJECT– BKM Copper Deposit

  • Feasibility study well advanced with BFS expected in Q2 2018
  • Extensive near surface deposit
  • Nearby prospects BK South (BKS) and BK West (BKW) and BKZ are 1km of BKM and remain to be fully evaluated

High confidence NI 43-101 compliant copper Resource

BKM Copper Deposit – Preliminary Economic Assessment

Highly Attractive Economics

  • Low strip ratio open pit – 1.23:1
  • Production target of 25,000tpa LME grade A (99.99%) copper metal
  • Initial eight year mine life
  • Capex of US$164m (incl. 15% contingency)
  • Low capital intensity
  • 20MW site generated bunker fuel/diesel
  • Existing transport and logistics routes

KSK Project-BKZ Project

  • Maiden Resource planned for May 2018
  • BKZ Project, outcropping massive sulphide, polymetallic mineralization, underlain by copper-silver mineralization
  • Polymetallic mineralisation confirmed over a strike length of 225m, is up to 110m in east-west dimension and has a variable true thickness of up to 40m.
  • Lower Copper-Silver Zone comprises massive sulphide and veins style copper mineralization, north-south trending and is up to 50m in thickness. Drill results include:
  • BKZ33650-01 : Interval 41 – 46m assayed 21% Zinc, 9.5% Lead, 0.56g/t Gold and 132g/t Silver
  • BKZ33600-02 : Interval 71 – 76m assayed 2.9% Copper and 18g/t Silver
KSK PROJECT Baroi District

  • Copper-rich polymetallic vein systems at Far East Zone (FEZ), within the Baroi Project area
  • FEZ, outcropping massive bornite – chalcopyrite mineralisation, with locally strong galena and sphalerite
  • High-grade mineralisation intersected in several drill holes, veins vary in width from cm-scale to up to 15 meters.

Beutong

Beutong Porphyry Project (40% equity option to own 80%) –30-80ktpa copper + 15-54Koz gold development option. Scoping stage. Large copper-gold Resource base (NI 43-101 compliant)

  • Measured + Indicated Resources (100%)
  • 1.2BIbs Cu, 0.4Moz Au, 5.7Moz Ag, 20Mlbs Mo
  • Inferred Resources (100%) 4.1BIbs Cu, 1.7Moz Au, 14.9Moz Ag, 112Mlbs Mo
  • High-grade porphyry copper mineralization:
    o BEU0800-01 : 215.8m @ 1.20% Cu, 0.20g/t Au from 4.8m
    o BEU0800-02 : 320.4m @ 1.11% Cu, 0.19g/t Au from 6.6m
  • Deposit remains open to east, west and depth, with an interpreted high grade core (chalcopyrite –bornite) at depth
  • Strongly mineralized Cu-Au skarn 200m north of Beutong East remain open.
  • 2018 anticipates drilling of the Beutong Porphyry system, Beutong Skarn with some metallurgical drilling to test for leachable copper in discrete areas

Contact Details

WEBSITE: www.asiametresources.com

EMAIL: info@asiametresources.com

PHONE: +7891 677 441

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