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Asiamet's little nugget of news should encourage

Experts reckon there is enough ore at BK to support an operation generating 20,000 tonnes of copper a year.

Asiamet's consultants are studying samples.

The third quarter results from mining exploration firm Asiamet (LON:ARS) were notable for one nugget of information – some early feedback from metallurgical tes twork taking place on the BK Copper Project in Indonesia.

The company’s consultant has found that more than 97% of the copper in one sample was potentially leacheable (which simply means extractable).

Around 24% could be removed using an acid, while 73% was cyanide soluble.

Initial analysis revealed the process generates acid rather consumes it, which will have a positive impact on economics of any mine.

Experts reckon there is enough ore at BK to support an operation generating 20,000 tonnes of copper a year.

The company’s Beruang Kanan Main deposit is estimated to be host to 887mln pounds of copper, or 402,000 tonnes, with some 26% now in the higher confidence indicated category.

The financials, meanwhile, reflected a business in the mine development phase. Asiamet posted a $6.6mln loss for the nine months ended September, of which $3.8mln was the result of an impairment to one of its assets.

Quick facts: Asiamet Resources

Price: 5.1 GBX

Market: AIM
Market Cap: £75.19 m

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on 05/16/2018

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