29th Aug 2025 19:10
(Alliance News) - Asiamet Resources Ltd on Friday reported a slightly widened loss in the first half of 2025, as the company continues to make "solid" progress at its flagship BKM stage 1 copper project.
The Indonesia-based copper producer said net loss in the six months that ended June 30 was USD2.5 million, widened from USD2.4 million a year earlier.
Expenses fell 4.0% to USD2.4 million from USD2.5 million, while impairment costs increased 21% to USD52,000 from USD43,000. The firm recorded a reduced GBP15,000 finance gain compared to a GBP52,000 gain the year prior.
Basic loss per share in the first half was 0.11 US cents, down from 0.12 cents the year before.
"It was a very busy and productive first half of 2025 and we continue to make solid progress towards the development of the BKM stage 1 copper project," said Chief Executive Officer Darryn McClelland.
"We are well positioned with a feasibility study stage project at a time when the copper market is shifting into a supply deficit, metal price is anticipated to rise, and quality development ready copper projects are scarce. We expect that in due course the confluence of these factors should see our company rewarded for the significant progress we have made on our projects."
Shares in Asiamet Resources closed down 2.3% at 0.98 pence in London on Friday. The stock has risen 18% over the past year.
By Emily Parsons, Alliance News reporter
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