Asiamet Resources Limited Corporate Update (9157N)
26 May 2020 - 5:45PM
UK Regulatory
TIDMARS
RNS Number : 9157N
Asiamet Resources Limited
26 May 2020
26 May 2020
Corporate Update
Asiamet Resources Limited ("Asiamet or the "Company") is pleased
to provide an update with respect to the due diligence process
undertaken by Aeturnum Energy PTE Ltd (Aeturnum) on the KSK
Contract of Work (KSK) located in in Central Kalimantan.
Aeturnum acquired a 19.9% strategic holding in Asiamet Resources
through a placement in March 2020 and was provided with an
exclusivity period of 60 days to complete technical and commercial
due diligence for a project level investment in relation to KSK
(refer news release 25 March 2020).
The Company has been informed by Aeturnum that it has finalised
all due diligence workstreams and intends to enter into
negotiations with Asiamet for a partial or full acquisition of the
KSK Contract of Work.
Asiamet has appointed Melbourne based Grant Samuel Corporate
Finance to assist the Board and Management with strategic and
financial advice on any potential transaction with Aeturnum. Grant
Samuel is a leading independent financial adviser with extensive
experience in mining transactions globally, including Indonesian
assets.
The Company will provide a further update on this process if and
when the parties are able to agree a transaction that provides a
suitable path forward for the development of the BKM project on the
KSK Contract of Work and which delivers appropriate value for all
key stakeholders.
ON BEHALF OF THE BOARD OF DIRECTORS
Tony Manini, Executive Chairman
For further information, please contact:
-Ends-
Tony Manini
Executive Chairman, Asiamet Resources Limited
Email: tony.manini@ asiametresources .com
Investor Enquiries
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com / info@asiametresources.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Bhavesh Patel / Stephen Allen
Telephone: +44 (0)20 3440 6800
Email: Bhavesh.Patel@rfcambrian.com / Stephen.Allen@rfcambrian.com
Berenberg
Matthew Armitt, Detlir Elezi
Telephone: +44 20 3207 7800
Email: Matthew.Armitt@berenberg.com / Detlir.Elezi@berenberg.com
Liberum
Clayton Bush, Kane Collings
Telephone: +44 20 3100 2000
Email: clayton.bush@Liberum.com
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
Blytheweigh Communications Limited
Tim Blythe/Megan Ray
Telephone: +44 (0)20 7138 3204
Email: Tim.Blythe@blytheweigh.com /
Megan.Ray@blytheweigh.com
Follow us on twitter @AsiametTweets
FORWARD-LOOKING STATEMENT
This news release contains forward-looking statements that are
based on the Company's current expectations and estimates.
Forward-looking statements are frequently characterised by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans
continue to be refined; possible variations in ore grade or
recovery rates; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or
financing; and fluctuations in metal prices. There may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein.
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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