Asiamet Resources Limited (LON:ARS) has received a further US$700,000 in respect of its sale of the Jelai copper-gold project in Indonesia.
The receipt of funds brings the total amount now secured by Asiamet for Jelai to US$800,000.
The buyer, Ship Ocean Lte, will now taking on the burder of converting the exploration right at Jelai into a production license.
Meanwhile, Asiamet itself will now be able to focus on its core KSK and Beutong projects, also in Indonesia.
At Beutong Asiamet has recently been making significant progress in converting the license from exploration to production. Relevant documents relating to the resource at Beutong are now with the Indonesian ministry of mines.
“Asiamet is very pleased to have completed the sale of its Jelai IUP to local Indonesian interests at a satisfactory valuation,” said Peter Bird, Asiamet's chief executive.