Business
Asiamet Business Update
Asiamet Business Update.
About this update from Asiamet Resources Limited
[{"type":"text","content":"\n \n \n RNS Number : 0789G\n Asiamet Resources Limited\n 13 March 2020\n \n \n \n \n 13 March 2020\n \n \n \n \n \n Asiamet Business Update\n \n \n \n \n \n Asiamet Resources Limited (\"Asiamet or the \"Company\"), despite the recent market turmoil remains focused on the ongoing development of its advanced stage high quality, copper, copper-gold and base-metals deposits in Indonesia. The Company hereby provides an update regarding its projects and current business activities.\n \n \n \n \n \n Licences\n \n \n \n \n \n Asiamet confirms that all licences and tenure for its KSK Contract of Work (CoW) and Mining Business Licence (Izin Usaha Pertambangan - 'IUP') for the Beutong project are in compliance with Indonesian regulations and in good standing\n \n \n \n \n \n 1. \n The KSK Contract of Work (CoW) covering 39,443 hectare in Central Kalimantan including the Feasibility Stage BKM copper project was re-negotiated with the Government of Indonesia in March 2018 to secure long term mining tenure for up to 50 years with a fixed fiscal framework of globally competitive terms and conditions. The proposed BKM copper development will significantly increase employment of Indonesian nationals and use of local products and services, and the local\n communities in Central Kalimantan continue to be strongly supportive of the Company and the development of the BKM project.\n \n \n 2. The Beutong project covers over 10,000 hectares held under a Mining Business Licence in Nagan Raya Regency, Aceh. An Indonesian government level feasibility study has been completed and the IUP remains in good standing with up to 30 years of tenure remaining. \n \n \n \n \n \n BKM Copper Project \n \n \n \n \n \n A feasibility study completed in June 2019 on the development stage BKM copper project within the KSK CoW delivered robust outcomes as follows:\n \n \n \n \n \n · \n An initial 9 year life of mine producing up to 25,000 tonnes of copper cathode per annum;\n \n \n · \n Life of mine revenue of $1.27 billion and EBITDA of $563.3 million;\n \n \n · \n Post Tax NPV\n \n \n 8\n \n \n \n of $124.8 million; and\n \n \n · \n C1 cash cost of $1.65/lb and AISC of $1.78/lb\n \n \n · \n Additional value to be generated through clearly identifiable value enhancements to improve the fe...