Asiamet Resources had a rollercoaster morning after revealing new plans to develop the BKM copper project in Kalimantan, Indonesia.
A staged approach will be adopted, said the junior, which “is expected to considerably lower the upfront capital cost and significantly enhance project economics for BKM".
Key to the new plan is a near 50% reduction in the amount of material mined compared to the feasibility study for the project.
Darryn McClelland, Asiamet’s chief executive, commented: “A more capital efficient, lower risk approach to developing BKM sets a strong foundation for completing project financing and developing our first copper mine.”
Shares in the junior initially rose 11% on the plan but eased back in later trades to 0.88p, down 2.8%.
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