Business
Lifts Beutong Copper-Gold Project Interest to 80%
Lifts Beutong Copper-Gold Project Interest to 80%.
About this update from Asiamet Resources Limited
[{"type":"text","content":"\n \nRNS Number : 3198S Asiamet Resources Limited 25 June 2018 \n\nFor Immediate Release London AIM\n \n25 June 2018 Symbol: ARS\n \n \n \nAsiamet Lifts Beutong Copper-Gold Project Interest to 80%\n \nAsiamet is pleased to announce that negotiations to simplify the exercise of its option agreement with PT Media Mining Resources covering the Beutong copper-gold project (\"Beutong\") have been completed and a single milestone payment of A$4.375million has been made to increase its effective ownership in PT Emas Mineral Mumi (\"EMM\") from 40% to 80% by acquiring the remaining 50% of Beutong Resources Pte Ltd. (\"BRPL\") that it does not already own. EMM, 80% owned by BRPL, wholly-owns the Beutong Copper-Gold Deposit in Nagan Raya Regency, Aceh, Indonesia. Beutong is held under a Mining Business License for Production Operations \"IUP-OP\" which provides for an initial 20 years of licence tenure which may be extended twice, each for a period of 10 years, totalling 40 years. This is the key licence required to advance the Beutong Project to the development stage. \nHighlights:\n· Equity interest in Beutong increases to 80% through exercise of the option and delivery of recent milestones including the key long-term production licence required to advance project to development stage \n· &...