Asiamet makes 'excellent progress' on feasibility study

AIM-listed copper and gold exploration junior Asiamet Resources said on Friday that it had continued to make "excellent progress" on its feasibility study at Beruang Kanan Main (BKM) in Indonesia.

Asiamet said that since its last successful round of fundraising mining and metallurgical engineering activity had advanced through design and analytical work thanks to the updated BKM resource information.

Metallurgical test-work had seen significant progress through the column leaching phase and complementary laboratory work, including physical leach pad modelling, had been initiated.

The Indonesian focussed group said it had shortlisted several service providers to cover the process engineering, power supply, and water management components of the bankable feasibility study (BFS) and were evaluating them at the time.

Peter Bird, Asiamet's chief executive officer said, "The Bankable Feasibility Study is very focused on fine-tuning the outcomes of the preliminary economic assessment. We are really pleased with the positive results generated from the early phase engineering and design studies, coupled with the excellent results from our exploration and metallurgical test-work programs. Work to date reaffirms the potential for developing a high-quality copper mine at BKM. The detailed engineering and design is a large package of work which will significantly advance the progress and robustness of the BKM BFS and we look forward to progressively reporting results as they become available."

As of 1345 BST, shares had ticked up 1.14% to 5.31p.