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Last €0.02 EUR
Change Today -0.012 / -44.44%
Volume 0.0
0FK On Other Exchanges
Symbol
Exchange
Venture
OTC US
London
Frankfurt
As of 2:00 AM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

asiamet resources ltd (0FK) Snapshot

Open
€0.02
Previous Close
€0.03
Day High
€0.02
Day Low
€0.02
52 Week High
09/29/14 - €0.11
52 Week Low
09/17/14 - €0.0010
Market Cap
7.5M
Average Volume 10 Days
399.9
EPS TTM
--
Shares Outstanding
503.2M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for ASIAMET RESOURCES LTD (0FK)

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asiamet resources ltd (0FK) Details

Asiamet Resources Limited primarily engages in the exploration of copper and gold prospects in Kalimantan and Sumatra, Indonesia. It also explores for silver and molybdenum. The company holds interest in the Jelai gold project, which includes low-sulfidation epithermal gold-silver mineralization in east Kalimantan; and the KSK copper project in central Kalimantan. It also owns interest in the Beutong project, a copper-gold-molybdenum resource located in Aceh, Indonesia. The company was formerly known as Kalimantan Gold Corporation Limited and changed its name to Asiamet Resources Limited in July 2015. Asiamet Resources Limited is based in White Rock, Canada.

asiamet resources ltd (0FK) Top Compensated Officers

Corporate Secretary
Total Annual Compensation: --
Vice President of Indonesia
Total Annual Compensation: C$124.9K
Compensation as of Fiscal Year 2014.

asiamet resources ltd (0FK) Key Developments

Asiamet Resources Limited Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Asiamet Resources Limited reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company has posted loss attributable to equity holders of the parent of $804,897 against $55,843 a year ago. For the six months, the company has posted loss attributable to equity holders of the parent of $5,361,053 against $234,495 a year ago. Basic and diluted loss per common share was $0.01. Net cash used in operating activities was $1,477,661 against $398,635 a year ago. Acquisition of exploration and evaluation assets was $56,918. Purchase of equipment was $1,102.

Asiamet Resources Limited Identifies High Grade Copper Zone on its Beruang Kanan Copper Project in Central Kalimantan, Indonesia

Asiamet Resources Limited announced that recent drilling as part of the Resource evaluation program in progress on its Beruang Kanan copper project in Central Kalimantan, Indonesia has identified a high grade copper zone within the current resource envelope that has the potential to significantly enhance project economics. Hole BKM31850-02 (69.6m end of hole (‘EOH’)) on section line 31850 intersected very shallow high grade copper mineralization similar to that reported approximately 125m south in hole BK058 i.e. 64.9m at 1.24% Cu, including 9 meters at 7.35% Cu, from 11.7 meters. Follow up drilling is now underway in the immediate area of these intersections to increase drill density and improve resource confidence. The high grade, shallow copper mineralisation with limited overburden waste outlined on section lines BKM31850 and BKM31750 provides the opportunity to enhance project economics through the potential development of a very low strip ratio, high grade starter pit early in the project life. In total, 53 holes and 4,424.5 meters of the planned 80 hole/6,500 meter resource evaluation drilling program have been completed and three holes are currently in progress. Drilling is complete on section lines BKM31550, 31650, 31750, 31950, 32050, 32200 and 32450, and drilling is in progress on section lines BKM31800, 31850, 32150 and 32350. Final assay results were received for an additional 1444.6 meters in twenty drill holes aimed at increasing confidence and expanding the BKM Resource. All holes drilled to date on section line BKM32550 intersected copper mineralization. Significantly, the continuity of strong near-surface mineralization previously reported in historical drill holes BK02 (93m @ 0.75% Cu, including 24m @ 0.92% Cu and 15m @ 1.73% Cu) and BK03 (79m @ 0.89% Cu, including 22m @ 1.25% Cu and 39m @ 0.99% Cu) has been confirmed in drill holes BKM32550-03 (125.8m end of hole (‘EOH’)) and BKM32550-04, drilled 100m and 200m east of the BK02 and BK03 collars, respectively. Drill hole BKM32550-03 reported a wide interval of copper mineralization in two individual intersections and drill hole BKM32550-04 (125.3m EOH) reported three individual intersections of moderate to high grade copper mineralization. Assay results received for drill holes on section lines BKM32550 and BKM31850 confirm the moderate to high grade copper mineralization previously outlined in wide spaced drilling. As drilling rates have exceeded expectations, all of the planned BKM infill and expansion drilling planned for 2015 is expected to be completed by mid-September, almost two months ahead of schedule. Rather than a two stage Resource estimate update as originally planned, all results will now be incorporated into a single update which is expected to be completed in late September or early October. Scout drilling of the BKS, BKW and BKZ targets will be undertaken with a single drill rig during September.

Asiamet Resources Limited Signs Memorandum of Understanding for Contract of Work Amendments

Asiamet Resources Limited reported that it has signed a non-binding Memorandum of Understanding with the Government of the Republic of Indonesia covering amendments to its KSK Contract of Work. The CoW system which provides security of tenure for +30 years of exploration, development and operations has underpinned most of the major mine developments in Indonesia over the past 60 years. ARS has been in discussions with the GOI regarding possible amendments to some of the KSK CoW terms in order to achieve closer alignment with the Law that is Law No. 4/2009. The size of the CoW shall remain unchanged at 61,003 hectares. The MOU contemplates that after 30 years of Operating under the CoW, the Company may apply to continue operations in the form of a Special Mining Business License for a further 2 x 10 year periods. Under the agreed MOU terms the corporate income tax rate will continue to be 30% as prescribed in the CoW but royalties will now follow the provisions of the prevailing law. Royalty rates now applicable to gold and copper under the prevailing laws are 3.75% and 4% respectively. The rates compare well with most mining jurisdictions globally. The CoW currently has a provision that requires the Company to work towards, and assist, the Government in supporting the policy of establishing metals processing facilities in Indonesia in relation to smelting and refining. The company is now under obligation to process and refine the mineral ores domestically in line with the current provisions of the rules of law in Indonesia.

 

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