Asiamet reports progress at BKM on several fronts

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Asiamet Resources Limited (LON:ARS) said the high copper price is sparking interest from potential partners for the BKM copper project in Indonesia.

“Discussions are being progressed with a select number of groups who can bring substantial capability and value add to the BKM project financing and mine development,” said Tony Manini, executive chairman.

A revised set of estimates for developing the project using tank leach processing are expected by mid-July 2021, he added, while field activities will include an IP survey to improve drill target selection.

The application for a Pinjam Pakai forestry permit is also making good progress through the Ministry of Environment and Forestry with conditional approval expected in late June/early July, said the statement. 

Asiamet is also assessing the option of a direct ship ore operation (DSO) at the nearby BKZ deposit to generate early cash flow.

Manini added: “As per our strategy, work has been progressing on a number of important value-adding workstreams simultaneously. 

“On the permitting front, our highly capable Indonesian team expect to receive the key forestry permit shortly, a critical de-risking milestone for financing the development of the project.” 

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