Copper explorer Asiamet Resources Limited (LON:ARS) says it is exploring approaches from several potential partners for its BKM project in Kalimantan, Indonesia.
A partnership would be either through off-take agreements or equity, it said.
Asiamet is working towards a bankable feasibility study at BKM and is looking for funds to help finance this.
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The junior added that subject to receipt of a forestry permit and funding, it would also drill additional holes into the high grade base metal vein system at Baroi prospect to see if this can be a stand-alone deposit.
The aim is to develop a ten year mine life years at BKM producing 25,000 tonnes of copper per year.
A preliminary study indicated it would be among the lowest cost operations anywhere, with cash costs of US$1.28 per pound.
Losses in 2016 were US$3.8mln (US$7.4mln), while Asiamet closed the period with cash of US$1.75mln with a further US$700,000 to come from the sale of the Jelai project.