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Asiamet Resources Ltd flags progress in Indonesia

Copper explorer's shares rise as it prepared to release a study on its Beruang Kanan Main deposit
Asiamet Resources Ltd flags progress in Indonesia
Asiamet also continued to progress conversion of licences from exploration to production

Shares in Asiamet Resources Ltd (LON:ARS) rose more than 10% after it reported progress with a copper-gold project in Indonesia.

The stock gained 0.38p to 3.82p as the group confirmed it was still on track to release the findings of a preliminary economic assessment on the Beruang Kanan Main deposit at the company's 100% owned KSK contract of work in Kalimantan, at or near the end of the first quarter.

Asiamet also said it was continuing to progress the conversion of its exploration licences to production licences for both the Beutong and Jelai projects with the Indonesian government.

In the normal course of business, it said it was still in talks with various parties about its project portfolio.

In a statement in which it noted a rise in its share price and trading volumes in the last 10 days, the group said: "Further announcements in respect of these matters will be made as and when appropriate."

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