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Asiamet Resources Ltd.
Summary
| Project: | Beruang Kanan | |
|---|---|---|
| Deposit: | BKM | |
| Location: | Indonesia | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 3/7/2019 | |
| Report Code: | (Enviro) | |
| Report Type: | EIA/ESIA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-3-2019: Asiamet Resources Ltd. announces an EIA/ESIA report for its BKM deposit at the Beruang Kanan project. Environmental impact assessment approved for BKM. Peter Bird, Asiamet's Chief Executive Officer, commented:"The approval of the GOI FS is a maj | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Peter Bird, Asiamet's Chief Executive Officer, commented:"The approval of the GOI FS is a major milestone for the Company that has been completed on schedule. Attached to this was the parallel approval of the AMDAL which has been completed well ahead of schedule. These milestones set us up well for the production permits for the project which we would anticipate receiving in late 2019 to early 2020 as per our original planning. Operationally the infill Resource definition drilling and geotechnical drilling is now complete (a total of 5,665 metres were drilled, with 37 holes allocated to resource evaluation and 4 holes to geotechnical drilling). The information collected from these study work streams is being progressively fed into the BKM Feasibility Study work streams. In a recent Commodity market report by Wood Mackenzie (January 2019), it was stated that the copper supply - demand balance is predicted to impact copper pricing in a very positive manner over the coming 24 months. The report suggests the price to move from an average price of US$2.96/lb in CY2018 (Actual) through to US$3.28/lb in CY2019 and US$3.85/lb in CY2020. This data is very consistent with the theme that we have been discussing over the past 4 years and if realised will have a major impact on the value of all assets within the copper space. With an overall copper inventory of 2.4 million attributable tonnes of contained copper (5.29 billion pounds) in addition to gold, silver, zinc and lead by-products, Asiamet is very well positioned to capitalise on this widely expected upward move in copper prices. Within our asset portfolio the BKM project is very advanced and well positioned to take advantage of this pricing shift." | |
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