CEO BLOG - From Technical Execution to Financing Activation
By Darryn McClelland, CEO – Asiamet Resources
Following the delivery of the Optimised Feasibility Study (OFS) and completion of the Independent Technical Expert (ITE) review, Asiamet has entered the next phase of its journey: activating the financing workstreams to bring BKM Stage 1 into production.
Since formally launching the project financing process, a selected group of banks —already under NDA—are progressing their due diligence. Engagement has been constructive, and we anticipate receiving initial indications in due course.
In parallel, we have commenced a strategic investor process designed to complement the lender workstream and align both sides of the capital structure ahead of a final investment decision.
To support this, we are finalising the appointment of a top-tier financial advisory group to lead the strategic investor process for BKM Stage 1. Widely regarded as one of the leading independent firms in Australasia in the natural resources sector, they bring deep expertise across M&A, valuations, capital markets advisory - with a strong track record of advising on many high-profile transactions involving Tier 1 mining companies. Their role will be central in engaging and securing the right long-term partners — particularly those aligned with our development strategy for BKM and the broader KSK portfolio. More on this soon.
Operationally, the BKM project continues to advance toward a development-ready state. Drilling of the limestone resource is scheduled to begin shortly, forming part of broader pre-construction activities. While the OFS has been finalised, we are pursuing targeted technical optimisations —particularly around copper recoveries and potential flowsheet simplification. Even modest improvements in these areas can deliver meaningful enhancements to project returns and operating efficiency, and we look forward to sharing further updates on this front in the near term.
With the Feasibility Study now in hand, we also recognise the growing importance of market engagement. In recent weeks, we have held discussions with a number of respected institutions regarding prospective research coverage and broader investor outreach. Strengthening visibility, driving liquidity, and expanding institutional interest are key strategic objectives as we transition from project definition to project delivery. We expect to provide further updates on this front in the near term.
An updated 3D of the BKM Stage 1 Design from our engineering partners Rexline
Fundamentally, the copper market remains underpinned by structural demand growth. Structural drivers such as electrification, AI infrastructure, and grid expansion are deepening demand across global supply chains. Against this backdrop, BKM stands out as a development-ready project with strong leverage to copper prices, a long mine life, and a de-risked pathway to production — strategically located within the Asian growth corridor.
While the road to this point has not been without its challenges, the core value proposition remains compelling. BKM represents a unique opportunity to develop a high-quality, scalable copper asset at a time when new supply is scarce, and long-cycle investment is returning to the fore. Beyond BKM Stage 1, the broader KSK Contract of Work offers significant upside potential, with walk-up growth prospects such as BKZ providing future optionality. Asiamet is exceptionally well positioned to deliver long-term value.
We are entering a defining chapter for the Company — and we look forward to keeping you closely informed as we move ahead.
Thank you for your continued support.