Asiamet Resources Shares Feasibility Study for BKM Project

Asiamet Resources (LSE:ARS) released a feasibility study for its Indonesia-based BKM copper project. The document will pave the way for the company to enter discussions with potential development partners.

According to the press release, highlights include:

• Initial 9 year mine life producing up to 25,000 tonnes of copper cathode per annum
• Total Proved and Probable Ore Reserves¹of 51.5Mt @ 0.6% Cu for 303kt of contained copper and 0.39% total soluble Cu for 206kt of contained soluble copper
• Total Measured, Indicated and Inferred Resources^2,3of 69.6Mt @ 0.6% Cu for 451.9kt of contained copper
• Life of Mine (‘LOM’) Revenue of $1.27 billion and EBITDA of $563.3 million
• Initial capital expenditure $192.0 million (excluding contingency $31.4 million)
• Post Tax NPV₈of $133.5 million, 19.5% IRR (excluding closure costs)
• C1 cash cost of $1.65/lb and AISC of $1.78/lb
• Additional value enhancement opportunities identified with potential to improve valuation by a minimum of $35 million on a risked weighted basis (excluding exploration upside)
• Defined exploration targets close to the proposed BKM mine have potential to expand the current mineral inventory and substantially impact the value of the BKM project through mine life extension beyond 2030. Evaluation of these targets will be a priority for the next phase of work.

Click here to read the full Asiamet Resources (LSE:ARS) press release.