Asiamet Resources' drilling results imminent as external rigs hasten progress

The drilling, which is intended to optimise mine design and improve the robustness of a bankable feasibility study (BFS) for the project, is to be hastened by the addition of two further drill rigs from an external contractor which are due to begin drilling shortly.

Asiamet’s own two rigs were mobilised in late November, drilling four holes to a depth of almost 500m.

Peter Bird, chief executive of Asiamet, said: "This additional piece of study work is expected to significantly enhance the robustness of the BKM copper project and positively impact outcomes from both a project financing and strategic partnering perspective. We look forward to providing results and further updates from the drilling and study program."

The AIM traded company said it held a number of meetings in early December with potential investors and partners in Jakarta, adding the interest in its portfolio “remains high and several groups have signed confidentiality agreements and are actively engaged in technical due diligence.”

Asiamet’s shares were down 2.03% at 3.87p at 1318 GMT.