Business
BKM Copper Project Optimisation
BKM Copper Project Optimisation.
About this update from Asiamet Resources Limited
[{"type":"text","content":"\n\n25 June 2024 \n \n \nBKM Copper Project Optimisation\nBKM Stage 1 Project Physicals to Considerably Reduce Upfront Capital\n \nAsiamet Resources Limited (\"Asiamet\" or the \"Company\") is pleased to provide a further update on optimisation work for the BKM heap leach project in Central Kalimantan, Indonesia (\"BKM\" or the \"BKM Copper Project\").\nFollowing the recent announcement of the BKM heap leach facility (\"HLF\") earthworks optimisation results, the Company has made further significant advancements to lower the initial capital expenditures required to reach first production.\nAs previously announced, a revised HLF location allows for a staged construction of the HLF pad, significantly reducing bulk earthworks and upfront capital costs. This strategic change is expected to shorten construction timelines, move HLF construction off the critical path in the project development schedule and expedite timelines to first revenue and cashflow.\nFollowing on from this HLF optimisation work, the Company has focused its efforts on additional opportunities identified to further reduce pre-production capital expenditure and execution risk in the initial phase of the BKM mine development. The first stage of the BKM Copper Project will focus on developing a smaller capacity, higher-grade, higher-margin mine centred around a revised open pit design which sits entirely within the footprint of the 2023 BKM Feasibility Study (FS) pit. The new pit design is expected to considerably lower the upfront capital cost, improve operating efficiencies and lower construction risk.\nThe major benefits emanating from these optimisation works are expected to flow through to significantly enhanced project economics for BKM, as the Company continues to advance financing for the initial BKM mine development. The highlights below detail the key changes to the 2023 FS, based on the Company's internal work.\nHighlights\nMining Physicals:\n· 47% Decrease in Total Material Mined. LOM Strip Ratio Reduced from 1.37 to 0.72: New pit design moves 28Mt material compared to 38.4Mt. These large reductions in material movement reduce the total mining costs and accelerate project timelines. As the volume of waste material moved per tonne of ore extracted reduces, the life of mine (\"LOM\") strip ratio improves significantly fr...