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.