In March, Aeturnum took a 19.9% stake in Asiamet, via a placing, and entered a period of exclusivity for a project level investment in the KSK Contract of Work asset which kicked off technical and commercial due diligence work that is now complete. Aeturnum now intends to enter talks for a partial or full acquisition of KSK.
Asiamet said it has appointed Melbourne based Grant Samuel Corporate Finance to assist the board and management with strategic and financial advice on any potential transaction.
“The company will provide a further update on this process if and when the parties are able to agree a transaction that provides a suitable path forward for the development of the BKM project on the KSK Contract of Work and which delivers appropriate value for all key stakeholders,” Asiamet said in a statement.
In morning trading, Asiamet shares jumped 34.7% higher to change hands at 3.57p each.