Asiamet Resources Limited Bankable Feasibility Study Update (4667X)
August 10 2018 - 4:00AM
UK Regulatory
TIDMARS
RNS Number : 4667X
Asiamet Resources Limited
10 August 2018
For Immediate Release London AIM
10 August 2018 Symbol: ARS
Bankable Feasibility Study Update
Asiamet is pleased to advise that the Bankable Feasibility Study
(BFS) for the Beruang Kanan Main (BKM) Copper project located in
central Kalimantan, Indonesia is nearing completion and is expected
to be finalised and delivered by the current quarter.
Over the past 21 months since the Preliminary Economic
Assessment (PEA) was released in May 2016 a group of highly
experienced industry leading consultants have contributed to
delivering a very comprehensive and detailed set of technical and
commercial studies in preparation for project financing and
development. The major workstreams that are complete or near
completion include:
-- Regulatory Framework and Approvals
-- Strategy and Structure
-- Sales and Marketing
-- Environment, Community and Stakeholder Relations
-- Geology and Mineral Resources
-- Geoscience and Hydrology
-- Mine Planning and Design
-- Metallurgy and Ore Treatment
-- Process and Plant Facilities
-- Non-Process Infrastructure
-- Project Implementation Plan
-- Operations Management and Systems
-- Workforce Planning
-- Transport, Power and Port Facilities
-- Risk Assessment, and
-- Economic Evaluation
As with any feasibility study the final stages of the process
involve significant opportunity for the Company to optimise and
improve the economics of the project through value engineering and
benchmarking. This stage is critical to providing a sound basis for
a successful project financing.
The Asiamet management team along with its consultants are
systematically working through the remaining key areas of mine
design and planning, heap leach design and capital and operating
costs to ensure the best outcomes are captured into the financial
models.
Optimisation of the mine plan is almost complete with key inputs
being finalised. The heap leach design has undergone extensive
review and optimisation with significantly improved expected
performance and overall metrics. Capital and operating cost
estimates are being benchmarked and will be subject to further
review once the mine planning studies are complete shortly.
This final exercise is expected to provide substantial upside
for the project and the Company is working meticulously to ensure
each piece of the BFS is completed to industry high standards in
order to maximise value for shareholders as we enter into the
project financing stage.
ON BEHALF OF THE BOARD OF DIRECTORS
Peter Bird, Deputy Chairman and CEO
For further information, please contact:
-Ends-
Peter Bird
Deputy Chairman and CEO, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: peter.bird@asiametresources.com
Tony Manini
Executive Chairman, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: tony.manini@asiametresources.com
FlowComms Limited
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Stephen Allen
Telephone: +61 8 9480 2500
Email: Andrew.Thomson@rfcambrian.com /
Stephen.Allen@rfcambrian.com
Liberum
Neil Elliot, Clayton Bush, Kane Collings
Telephone: +44 7773 322679
Email: Neil.Elliot@Liberum.com
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
This news release 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 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
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contact rns@lseg.com or visit www.rns.com.
END
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