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AsiaMet Resources Financial Update From Flow Comms

Interest and volumes have been growing significantly as of late (improved market perception due to positive operational momentum and penetration of messaging regarding changes in leadership).

V detailed so H1 highlights include:

 

-          Resource expansion programme at BK Main deposit (from KSK cluster) to be completed approximately two months ahead of schedule.

-          Shallow high grade zone discovered which has potential to significantly improve project economics.

-          Results will now be incorporated into a single Resource update to be completed in late September or early October (not two as previously indicated).

-          Discussions progressing regarding partnering or divestment of Jelai epithermal gold asset being pursued (confidentiality agreement signed with one party presently undertaking due diligence).

-          Promising early metallurgical results at BKM for assessing of copper production from application of heap leach SX-EW processing technology (ongoing).

-          KSK Contract of Work – non-binding MOU signed with Government of Indonesia to confirm that CoW is in 5th year of the Exploration stage and as such has a total of +30 years remaining for exploration, development and operations. Confirms long-term tenure, MOU to be formalised and when negotiations complete, amendments will be incorporated into CoW .

-          Jelai gold asset and larger Beutong copper-gold projects: application process  to upgrade both from Exploration to Production Licences likely to take up to a further three months to complete.

 

Further operational goals for H2:

 

-          More drill results from BKM high grade zone.

-          Completion of BKM (BK Main from KSK Cluster) copper resource upgrade

-          Completion of ongoing metallurgical test work to confirm heap leaching as a viable processing methodology for the BKM mineralization.

-          Integrating Resource & metallurgical test work results with mine engineering and associated studies to assess the economic potential of the BKM deposit.

-          Preliminary Economic Assessment is targeted for completion in early 2016.

-          Results of this work will be reported progressively as each component of the studies is completed.

-          Reporting the results of scout drilling at the BK South, BK West and BK Polymetallic targets (all KSK cluster).

-          Finalising amendments to the KSK CoW and completing the conversion of the Beutong and Jelai IUP’s from exploration to production licenses.

-          Securing a suitable partner or acquirer to progress the Jelai gold project.

 

Notification of Options:

Directors to take Options in lieu of fees for 2015Employees have forgone short term incentive bonus payments and accepted frozen / lower salaries in favour of Stock OptionsAs per approved Stock Option Plan Directors granted a total of 6,000,000 Incentive Stock Options and 3,650,000 employees and consultants Options to for a total of 9,650,000Exercisable between August 31, 2015, and August 31, 2020, at an exercise price of C$0.05 per share (approx 2.478p)

 

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