Asiamet Resources Ltd (AIM:ARS, OTC:KMGLF) said it had ticked off more key milestones at its BKM copper development in Indonesia since the start of the year.
Darryn McClelland, the chief executive, said that in project financing, bank financial modeling had been completed. The meeting key requirements are in the approvals process.
“In our strategy for engineering, procurement, and construction workstreams, we have prioritized early engagement with project execution partners, a move aimed at enhancing project delivery efficiency," he added.
“Details regarding the appointments of BKM's delivery partners will be made over the next few weeks and before the end of this quarter.
“Additionally, we also anticipate completing the Biomass Power Station study by the end of quarter one of 2024.
“As with any mining project, securing a power source is paramount, and the proposed renewable energy source of Biomass Power Station would also enhance the environmental sustainability of the BKM project.
"On the corporate development front, we are experiencing elevated levels of new interest in both our KSK and Beutong assets. Data room due diligence processes and site visits for multiple parties are currently being facilitated.
McCelland reiterated that with copper a key part of electrification, "Our company's assets are cornerstones of strategic value, comprising advanced projects endowed with high-quality resources/reserves and a path forward to production.”
Image source: proactive Investors
Source: https://www.proactiveinvestors.co.uk/companies/news/1042173/asiamet-resources-ticks-off-more-milestones-at-bkm-1042173.html
