Business
Successful Placing of US$ 2.1 million
Successful Placing of US$ 2.1 million.
About this update from Asiamet Resources Limited
[{"type":"text","content":"\n \nRNS Number : 6007J Asiamet Resources Limited 20 August 2019 \n\n20 August 2019\n \nSuccessful Placing of approximately US$ 2.1 million \nAsiamet Resources Limited (\"Asiamet\" or the \"Company\") is pleased to announce that it has today successfully placed a total of 50,000,000 new common shares of par value US$0.01 each in the Company (the \"Placing Shares\") at a price of 3.5 pence per share (the \"Issue Price\") raising gross proceeds of approximately £1,750,000 million (US$2,124,000 million) (the \"Placing\"). \nProceeds of the Placing will be utilised to fund a number of the value enhancement initiatives outlined in the recently completed BKM Feasibility Study (see release dated 14 June 2019), to continue stakeholder engagement programs (government, business and community) and permitting in preparation for development of the BKM project, undertaking initial metallurgical test-work on mineralisation from upper parts of the Beutong deposit, and to continue progressing options for funding the ongoing development of both the BKM and Beutong projects. \n \nPeter Bird, CEO of Asiamet Resources commented:\n\"We are very pleased with the support received both from existing as well as new investors. The completion of this financing allows us to commence a number of the more significant value enhancement initiatives identified in the BKM BFS, including drilling some of the highest priority targets for additional copper Resources located nearby the proposed BKM mine development. \nWe also plan to initiate a metallurgical test-work programme on samples from the upper parts of the Beutong deposit to test the amenability of the mineralisation for heap-leaching and hence the potential for alternative development options. Progressing the permitting and funding options for BKM and Beutong continues to be a key focus of the management team and we look forward to providing regular updates on all workstreams as they are being progressed.\"\n \nPlacing details and Total Voting Rights\nOptiva Securities acted as lead bookrunner in relation to the Placing. \nThe Company has successfully placed 50,000,000 Placing Shares raising gross proceeds of approximately £1,750,000 million (US$2,124,000 million). \n \nThe Placing is conditional upon, inter alia, Admission of the Placing Shares to trading ...