Major strategic shifts lie behind the upward surge in copper
High-level macroeconomic trends underpin the recent upward move in copper
Company
LON:ARS
Asiamet Resources Ltd is an emerging copper producer focused on the development of a portfolio of large copper, copper-gold and polymetallic deposits in Indonesia, adjacent to the key growth markets in Asia.
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High-level macroeconomic trends underpin the recent upward move in copper
Feasibility work continues at Asiamet's BKM project in Indonesia
A round-up of the stories on the Proactive newswire today
Results from ongoing feasibility work continue to provide encouragement at BKM
Asiamet is a copper explorer in Indonesia with big plans
BATM secures a contract down under; Victoria Oil & Gas starts development drilling in Cameroon; Allergy Therapeutics secures European patent; plus much more
"It is critically important that all parts of the feasibility studies are completed to high industry standards," said CEO Tony Manini
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Aura Energy, Harvest, Asiamet, Premier African and others
Tekcapital picks up the rights to Wire Caddy, Lekoil increases its financing facility and Eurasia Mining should see first revenues this month.
Completing the PEA for the BKM project was the highlight of the half year, says Asiamet, as it highlighted the “excellent potential” for the copper deposit.
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Weekly round up of the mining headlines from the world of Proactive.
There was more positivity from the mining sector on Wednesday with drilling updates, financial results statements and analyst commentary.
33 holes have now been completed and three holes are currently in progress
London’s blue-chip shares advanced to 14-month highs on Friday and mid-caps reclaimed pre-Brexit levels as investors continued to lap up UK monetary easing and built on that with news that Wall Street’s S&P 500 hit a fresh record high after
A further 8,000 metres of drilling over 90 holes is planned.
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Weekly round up of mining news from the world of Proactive.
Optiva has started covering the share with a target price of 8p - more than three times the current price of 2.3p
Sports nutrition and supplements group Science in Sports was among London's risers.
The work is part of the feasibility study and continues to hit high grade copper mineralisation in the southern part of the deposit
A weekly round-up of mining news from the world of Proactive.
The BKM feasibility study represents a “major de-risking phase for the project”, said chief executive Tony Manini, with the data key for potential funders of the mining project.
Indonesia-focused Asiamet Resources posted first quarter results today
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The weekly round up of news and updates from the mining sector.
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It is traditional for the new boss to lay it on a bit thick when it comes to assessing the difficult task ahead, but M&S CEO Steve Rowe may have called it like it is.
Graphene NanoChem receives an order for its oilfield recovery additive, e-Therapeutics tells investors that it remains well funded and Forbidden Technology partners with an energy drink.
The start of drilling follows a positive preliminary economic assessment for the copper project and is part of the feasibility study process.
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This week's mining industry news from Proactive Investors.
Brave Bison appoints new CEO, Highlands Natural Resources acquires more claims in Utah and Plexus opens up massive funding opportunity.
Based on an eight year life, the PEA showed the project could generate gross revenue of US$1.27bn, assuming an average copper price of US$3.25 per pound.
It was a downbeat end to the week that saw the Footsie surrender the week's gains, as did the FTSE Aim indices.
88Energy funding inundated with demand, African Potash shares slump and Andes Energia confirms production volumes.
Major share price risers and fallers in London at 4.00pm
Indonesia-focused Asiamet Resources Limited has raised £1.5mln via an oversubscribed private placing as it advances its Beruang Kanan Main (BKM) copper project.
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In contrast to FTSE100, UK small caps were higher at the close, with Vast Resources still the top London gainer...
Stocks on London's junior market are at least having a better time of it than the blue-chips
Asiamet is working up a promising-looking copper project in Indonesia
Major share price risers and fallers in London at 3.30pm
Asiamet has delivered a PEA for its BKM copper project in Indonesia
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Companies covered include: Asiamet, DJI, Cap-XX, fastjet, Gfinity, Syndicate Room
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A busy week for small cap miners ended with Ulster-focused gold explorer Dalradian Resources Inc saying it remained on track to submit a planning application for the Curraghinalt mine later this year.
Tesco accused over fictitious farms and Next lays on the gloom on a tough day for retail
Copper explorer's shares rise as it prepared to release a study on its Beruang Kanan Main deposit
Asiamet Resources will shortly be releasing a PEA that could prove transformative for the company
Below are some of the main news-driven changes in London at 4.15pm
The report will assess the economics of developing an open pit mine and heap leach SX-EW processing facility
Investments and investor services
African Potash, e-Therapeutics and sound Energy also reported on Wednesday
The compilers of this independent assessment of the economics and costs involved all have experience of working in Indonesia.
Investments and investor services
ITM Power, 88 Energy and Rightster Group also had news out on Friday
Investments and investor services
Below are the main news-driven share price movements at 3.30pm.
Noricum Gold, Bezant and DiamondCorp also reported this week
Investments and investor services
Strategic Minerals, Motive Television and REM also reported today
One hole yielded 10 metres at 2.52% copper from less than 20 metres below surface. Within this was a two-metre section grading 7.45% copper.
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Significant news from Stratex International today as it has become a gold producer after a first gold pour at its Altintepe mine in Turkey.
Proceeds will help fund an infill and expansion drilling programme at the BKM prospect.
Investments and investor services
North River, Silence Therapeutics and Clinigen also reported.
Below are the main news-driven share price movements at 4pm.
The placing, at 1.4p, has already been fully subscribed.
Stratex, Sunrise, Alexander Nubia, Sirius and Richland Resources also reported...
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Asiamet saw a resource upgrade, Metminco got a boost in its partnering efforts and Sound Energy's teamed up with Schlumberger
Following an extensive round of drilling BKM, now has a higher-confidence indicated resource of 15mln tonnes of copper at a 0.7% cut-off – the equivalent of 231mln tonnes of the metal.
Assay results from the Beruang Kanan Main copper deposit in Indonesia were some of the best to date.
There was a lot of big news from the small cap miners this week...
Investments and investor services
Atlantic Coal, Sierra Rutile, Xtract Energy and Motive Television also has news today.
Mineralisation was intercepted in sections from three metres down to 67 metres, returning copper grades of 1.09% to 2.61%.
Even if copper is currently under severe pressure, that dynamic is likely to have changed dramatically by the time Asiamet delivers its first production.
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The end of quarter is approaching so companies were rushing out end-June trading updates, leading to a very heavy news day.
Drilling, in fourteen holes, was designed to increase confidence and expand the BKM Resource
It was a busy week in the small cap mining space as the UK's first mine for over 40 years opened.
Investments and investor services
Mosman Oil & Gas (LON:MSMN) moved STEP closer to acquisition with a royalty agreement worth NZ$4mln.
In all Asiamet plans to drill 80 holes to complete 6,500 metres of resource evaluation work – so far it has completed 66 holes for 5,605 metres.