10th Aug 2018 10:36
LONDON (Alliance News) - Asiamet Resources Ltd on Friday said its bankable feasibility study for the Beruang Kanan Main copper project, located in central Kalimantan, Indonesia, is nearing completion.
The exploration company said it expects to finalise and deliver the study results by the end of the current quarter.
Over the past 21 months since May 2016, Asiamet said it worked hard to deliver a very comprehensive and detailed set of technical and commercial studies in preparation for project financing and development.
The company said it is currently working with its consultants through the remaining key areas of mine design and planning, heap leach design and capital & operating costs to ensure the best outcomes are captured into the financial models.
"Optimisation of the mine plan is almost complete with key inputs being finalised," said Deputy Chairman & Chief Executive Peter Bird.
"This final exercise is expected to provide substantial upside for the project and the company is working meticulously to ensure each piece of the bankable feasibility study is completed to industry high standards in order to maximise value for shareholders as we enter into the project financing stage," added Bird.
Shares in Asiamet were trading 3.6% higher on Friday at 9.28 pence each.
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