Asiamet Resources Limited (ARS) has appointed advisory firm Grant Samuel as its financial adviser to lead the strategic investor engagement process for the development of the BKM Stage 1 copper project in Central Kalimantan, Indonesia.
Grant Samuel is a market leader in providing advisory and execution expertise across M&A, debt, equity, and valuations.
The firm has an outstanding track record in the natural resources sector, having advised on a wide range of mandates for companies including Tianqi Lithium, Stanmore Resources, Golden Energy & Resources, Highlands Pacific and EMR Capital.
The strategic partner process will focus on engaging with qualified parties who can add value to the development of BKM Stage 1. This may include provision of financial, technical, operational and regional capability to support the successful delivery of the project.
Asiamet has now commenced a structured programme of engagement with interested parties.
This process is being run in parallel with the potential project finance lenders' due diligence processes currently underway, and forms a key component of the company's broader financing strategy for the BKM Stage 1 development.
"The appointment of Grant Samuel to lead our strategic investor engagement process leverages their industry network and strong track record of advising mining companies in the region, making them an ideal partner at this time,” said Asiamet's chief executive Darryn McClelland.
“We are seeing encouraging levels of interest from groups aligned with our long-term vision. With both the strategic and lender engagement processes progressing in parallel, we are now focused on securing the right partnerships to support a successful BKM Stage 1 build and unlock the broader potential of the KSK portfolio."
View from Vox
With the copper price strengthening, and sentiment in the mining sector beginning to turn positive, it looks like Asiamet has timed the financing and potential construction at BKM pretty well. Grant Samuel is very experienced in the mining sector, and there are reasonable grounds for optimism now that progress can be made both in terms of lining up partnerships and in terms of financing.