TIDMARS
RNS Number : 8693L
Asiamet Resources Limited
06 January 2023
6 January 2023
Asiamet Resources Limited
("Asiamet" or the "Company")
Memorandum of Understanding signed with BGRIMM Technology
Group
Asiamet Resources Limited ("Asiamet" or "the Company") is
pleased to announce the signing of a Memorandum of Understanding
("MoU") with BGRIMM Technology Group ("BGRIMM") in relation to the
Engineering and Procurement of the Solvent Extraction and
Electrowinning ("SX-EW") plant for the BKM Copper project
processing facility. BGRIMM are a leading Chinese Engineering,
Procurement and Construction group providing services to the mining
industry worldwide.
The details of the executed MoU are as follows:
1. BGRIMM will work with the Company and its consulting engineer
NewPro Consulting & Engineering Services Pty Ltd ("NewPro") to
provide detailed design information for all equipment packages that
BGRIMM have provided cost estimates for as part of the current BKM
Copper Project Feasibility Study Update ("FS Update").
2. BGRIMM will complete a detailed cost estimate for an
Engineering, Procurement and Construction Technical Supervision
scope of work for the BKM Copper Project SX-EW processing plant for
the BKM Copper Project, this will be used in the FS Update capital
cost estimate.
3. Upon successful completion of the BKM Copper Project FS
Update and a positive Final Investment Decision ("FID") by the
Asiamet Board, the Company will engage with BGRIMM on the provision
of a complete Engineering and Procurement ("EP") service contract
for the BKM Copper Project SX-EW plant. This will include the
supply of all necessary equipment for the SX-EW plant and
coordination with suppliers of materials from within Indonesia.
4. The Company will work with BGRIMM to develop the technical
construction supervision requirements for the SX-EW plant when
moving into the execution phase as well as commissioning services
as required.
The SX-EW plant is a critical component of the BKM processing
facility as it delivers the processes of metal purification and
copper metal production. It can be considered a discrete facility
with well-defined battery limits therefore is suitable for
delivering as an engineering and procurement package.
The BGRIMM Group has over six decades of experience,
specialising in technology and innovation in the mining sector.
BGRIMM's core strength and competitive advantage is in engineering
design, procurement and equipment manufacturing. Their input into
this project is an important part of the overall design and will
positively impact costs through their purchasing power. BGRIMM have
provided engineering design and procurement for several SX-EW
facilities in various countries and are familiar with engineering
design requirements of Indonesia given their association with
several past and current projects in the country.
Darryn McClelland, Chief Executive Officer commented:
"I am pleased to be able to announce this collaboration with
BGRIMM on the SX-EW component of the BKM Copper processing
facility. BGRIMM have already assisted our engineering consultants
NewPro with various equipment pricing used in the FS Update Capex
estimate as well as costs for executing the Engineering and
Procurement services necessary for delivery of the SX-EW plant.
Capital cost is a critical component of the feasibility of the
BKM Copper project and working with BGRIMM is one of a number of
opportunities we have taken to help control cost and mitigate the
inflationary backdrop seen in 2022. BGRIMM have a strong track
record of delivering cost effective engineering and designs for
SX-EW plants of the size we are proposing for the BKM Copper
Project and we are very keen to tap into this experience. Asiamet
looks forward to developing a strong working relationship with
BGRIMM through involvement in the development of the BKM Copper
project, along with future development opportunities that are
likely to arise from the broader KSK Contract of Work.
Final discrete elements for the delivery of the updated
Feasibility Study are nearing completion and we look forward to
delivering on this in the near term and critically presenting a
project with overall robust economics and attractive cashflow
generation."
ON BEHALF OF THE BOARD OF DIRECTORS
Darryn McClelland, Chief Executive Officer
For further information, please contact:
-Ends-
Darryn McClelland
Chief Executive Officer, Asiamet Resources Limited
Email: darryn.mcclelland@asiametresources.com
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
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.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.
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END
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