Asiamet Resources (ARS) appointed Asipac Group chairman Mr. Feng (Bruce) Sheng, to the board of directors on Wednesday. Asipac has investments in the resource, property and financial sectors.
Mr. Sheng is also executive chairman of ASX-listed Terramin Australia, developing zinc and gold projects in Australia and Algeria, as well as a strategic investor, with a £3.9m (8.55%) stake in the Asiamet Resources.
Tony Manini, Executive Chairman commented: "Bruce has been a long-term supportive shareholder and we look forward to the opportunity to work more closely with him as we move into the project financing and development stage for the BKM project and continue advancing our other high potential projects on the KSK CoW and at Beutong.”
He emphasized Bruce’s “extensive experience and networks across China and Greater Asia”.
Shares in Asiamet Resources were trading 5.81% higher at 4.55p on Wednesday
Mr. Manini told investors “This is particularly relevant given China's One Belt-One Road policy and the large amount of Chinese inbound investment into Indonesia associated with it.”
“Enhancing the Company's level of connectivity with China is expected to add significant value as we continue the development of our portfolio of high-quality copper, gold and polymetallic projects.”
Last year Asiamet appointed Mr. Dominic Heaton to the Board. It highlighted Mr. Heaton’s “deep experience leading the transition of projects through development to operations in the Asian region”.
He previously led the development and operations of the Nui Phao tungsten - polymetallic project in Vietnam as well as the 60,000tpa Sepon leach SX-EW copper project in Laos and development of the large Martabe Gold Mine in Indonesia.
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