Asiamet Resources highlights stronger cash position

Asiamet Resources Ltd (AIM:ARS, OTC:KMGLF, FRA:0FK) ended 2025 with a stronger cash position as it continued work on the proposed US$105mln sale of its interest in the KSK Project to Norin Mining and advanced the BKM copper project in Indonesia.

The company reported year-end cash of US$3.4mln, up from US$2.3mln a year earlier, while its net loss narrowed to US$4.9mln from US$5.5mln in 2024. Equity proceeds totalled US$5.6mln during the year, including a US$2.5mln direct placement to PT BUMA International Tbk and a further US$3.1mln placement to existing shareholders and new investors.

At BKM Stage 1, Asiamet said ore reserves now total 28.3mln tonnes grading 0.7% copper for 207,000 tonnes of contained copper. Its optimised feasibility study outlined annual copper cathode production of about 10,000 tonnes over a roughly 13-year mine life, with life-of-mine revenue of US$1.19bn and EBITDA of US$612.2mln.

The study put initial capital costs at US$178.4mln, post-tax NPV8 at US$122.4mln and post-tax IRR at 17.7%, with expected life-of-mine production of 124,022 tonnes of LME Grade A copper cathode.

On the proposed KSK transaction, Asiamet said shareholder approval and relevant Chinese regulatory approvals have been secured, while Indonesian regulatory processes and completion workstreams continue to progress.