MiningGeneral mining & base metals

Asiamet narrows losses

On 21 August 2019, an MoU was signed with China NFC for value engineering and EPCM services for the BKM Copper project

BKM copper mine

Indonesia-focused copper mine developer Asiamet Resources Limited (LON:ARS) drastically reduced half-year losses in the first half of 2019.

Exploration and evaluation expenses were lower at US$2.53mln compared to US$3.7mln in the first half of 2018, while employees benefits dipped to US$1.1mln from US$1.2mln.

The loss before tax narrowed to US$4.2mln from US$6.2mln the year before.

Cash at the end of June stood at US$460,00, down from US$2.68mln a year earlier but since then the company has raised US$2.1mln through the issue of new equity.

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