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AsiaMet Resources advances multiple workstreams for BKM Copper Project in Indonesia

www.proactiveinvestors.co.uk

Thu 26 Oct 2023, 08:00 AM

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Asiamet Resources Ltd (AIM:ARS, OTC:KMGLF) CEO Darryn McClelland talked to Proactive about the various ongoing workstreams for the development of its wholly-owned, feasibility-stage, BKM copper project in Central Kalimantan, Indonesia.

The financing workstreams with senior bank debt and prepayment finance through copper cathode offtake are progressing on schedule and to expectations.


McClelland provided an update on the comprehensive review by independent technical engineering (ITE) experts SRK Consulting. "It's been an extensive review. So we are happy with the outcomes," McClelland confirmed. This review feeds into the debt financing process, and the report will be sent to the potential lead bank for further assessment.

He also touched on the company's work on financial modelling and valuation metrics, assisted by corporate advisor Grant Samuel. "Grant Samuel has a pretty wide remit for us. This is one part of their work, but they're also helping us with the valuation of other aspects such as the offtake agreement and potential mergers and acquisitions," he said.

Offtake and prepayment financing

On the subject of offtake and prepayment financing, AsiaMet has received its first indicative term sheet from “one of the world leaders in metals trading”. McClelland expressed satisfaction, stating, "It's another step of validation of the project." Other interested parties are also undergoing due diligence.

Additionally, McClelland revealed ongoing talks with potential project execution partners, particularly in Indonesia and with Chinese engineering, procurement, and construction contractors. The focus, he says, is on "looking at what sort of model might fit best for the project."

AsiaMet is also working to secure necessary permits and to improve site access, with McClelland indicating that they have "been doing some detailed work around that."

“Significant inbound interest”

McClelland disclosed that the company has attracted interest from various companies for direct investments and collaborations. He said, "There's been some significant inbound interest in the resources - different groups have different thoughts on how they may want to look at the projects or the company, we're advancing those prospects and certain levels of due diligence is being done."

Image source: www.proactiveinvestors.co.uk

Source: www.proactiveinvestors.co.uk/Asiamet Resources Advances Multiple Workstreams For BKM Copper Project In Indonesia

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