Asiamet Resources Ltd (AIM:ARS, OTC:KMGLF) told investors it is close to completing the optimised Definitive Feasibility Study (DFS) for the BKM Copper Project in Central Kalimantan, Indonesia.
The company confirmed that all major engineering and technical work is complete, with only supplementary analysis on power supply outstanding.
This final step follows recommendations from prospective lenders. Asiamet cited strong engagement from multiple lending institutions. It also said that the redesigned project will have lower capital costs and reduced construction complexity. Permits have been approved for a limestone drilling programme intended to support the copper processing plant.
“We have reached the final stage of a detailed project optimisation process, incorporating direct feedback from prospective lenders to deliver a lower-risk, economically compelling project,” said chief executive Darryn McClelland.
In London, the Asiamet price was up 10% to 1.1p in Friday's early deals.