Finalising the Optimised BKM Study: A Major Step Towards Financing
By Darryn McClelland, CEO of Asiamet Resources.
We are now in the final stretch of delivering the Optimised Feasibility Study for the BKM Copper Cathode Project, a study that reflects more than just updated numbers—it represents a fundamentally improved, de-risked, and financeable copper project.
Since announcing the $58M capital cost reduction in December, we have been focused on finalising the operating cost estimates (OPEX); further refinements to capital cost estimate; and updating the financial model, ensuring that every assumption and input stands up to scrutiny and aligns with lender expectations.
The updated 2025 pit shell (blue) reflects a more efficient mining approach, focusing on higher-grade, near-surface material. Compared to the 2023 Feasibility Study pit shell (pink), the pit floor has been raised by 75m, reducing total material mined from 91Mt to 48Mt and lowering the strip ratio from 1.34 to 0.76—key factors in delivering a more streamlined and capital-efficient project.
Finalising the Numbers: A Comprehensive Process
The completion of this study is the result of rigorous re-engineering, focusing on key improvements that will not only shape BKM’s future but will enable a future roadmap to eventually unlock the full value wider KSK CoW – we have always said that BKM is an enabler for us to realise our ambition to become a world class mining company.
- Power Study – final inputs into the biomass power study have now been received and are undergoing final reviews. Securing a reliable and cost-effective power solution is a priority, ensuring long-term operational efficiency.
- Refining the Economics – The redesigned mine plan extracts the higher grade, near-surface material, reducing the strip ratio to 0.76 (from 1.36) and improving project efficiency.
- Banking & Financing – Close engagement with potential lenders continues, with multiple banks completing NDA’s in preparation to receive our Optimised Feasibility Study.Providing early visibility on project progress has helped ensure alignment with their investment criteria.
- Final Review & Submission – reviews are being conducted across all workstreams as we prepare to publish the full study shortly.
Paving the way for BKM Financing
My recent time on-site and in discussions with key partners reaffirmed how much has been accomplished. With the study in its final stages, we are preparing to shift into the next phase—securing project financing and advancing towards commencement of development.
- Investor & Market Engagement – Expect more regular updates, including an Investor Meet Company presentation, where we will walk through the completed study in detail. If you would like to receive a notification for this event, please sign up to follow Asiamet on the Investor Meet Company platform
- Transitioning into Financing – With a streamlined project and strong lender interest, the financing process will formally move forward quickly post-study release.
- Positioned for Growth – The copper market is tightening, and with limited new supply coming online, BKM stands as one of the few development-ready copper projects in Asia.
https://www.investormeetcompany.com/asiamet-resources-limited/register
It has been a long and rigorous process, and I want to sincerely thank all our shareholders and stakeholders for their patience and continued support. With the Optimised Study now nearing completion, BKM is positioned to deliver a fully optimised and development-ready copper project, at a time when new supply is critically needed.
Standing at the Central Kalimantan port, this is where thousands of tonnes of material for the mine will come in and of BKM copper will go out. Demonstrating to technical due diligence consultants just how far this project has come—and that we can execute.
Stay Connected
I look forward to sharing the final study with the market shortly and engaging directly with investors at our upcoming Investor Meet Company session. If you find these updates valuable and would like to hear more from me on a regular basis, please let me know and feel free to subscribe below.
As we move into this next critical phase, I look forward to keeping investors engaged and informed.
Darryn McClelland - CEO,
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