Business
Feasibility Study Confirms Robust Copper Project
Feasibility Study Confirms Robust Copper Project.
About this update from Asiamet Resources Limited
[{"type":"text","content":"\n \nRNS Number : 2895C Asiamet Resources Limited 14 June 2019 \n\n \n14 June 2019 \n \nBKM Feasibility Study Confirms Robust Copper Project\n \nThe Company is pleased to announce the results of the Feasibility Study for its 100% owned BKM Project located in Central Kalimantan, Indonesia. A detailed and comprehensive study on developing the BKM copper deposit using open pit mining and a solvent extraction-electrowinning (SX-EW) Copper Heap Leach (the 'Project') processing has been completed using a highly experienced team of consultants and advisors working with inhouse personnel. \nDelivery of the Feasibility Study now paves the way for the Company to enter detailed discussions with potential partners and financial institutions who have expressed an interest in working with Asiamet to develop the BKM project. \nA summary of the highlights of the Feasibility Study are detailed below and the Executive Summary of the Feasibility Study is separately available on the Company's website at www.asiametresources.com\nHighlights of the BKM Feasibility Study:\n· Initial 9 year mine life producing up to 25,000 tonnes of copper cathode per annum\n· Total Proved and Probable Ore Reserves1 of 51.5Mt @ 0.6% Cu for 303kt of contained copper and 0.39% total soluble Cu for 206kt of contained soluble copper\n· Total Measured, Indicated and Inferred Resources2,3 of 69.6Mt @ 0.6% Cu for 451.9kt of contained copper \n· Life of Mine ('LOM') Revenue of $1.27 billion and EBITDA of $563.3 million\n· Initial capital expenditure $192.0 million (excluding contingency $31.4 million)\n· Post Tax NPV8 of $133.5 million, 19.5% IRR (excluding closure costs)\n· C1 cash cost of $1.65/lb and AISC of $1.78/lb\n· Additional value enhancement opportunities identified with potential to improve valuation by a minimum of $35 million on a risked weighted basis (excluding exploration upside)\n· Defined exploration targets close to the proposed BKM mine have potent...