Asiamet given a buy recommendation with a price target of 8.9p per share from Optiva
Asiamet Resources (LON:ARS) could be set to gain from a change at the BKM copper project to a concentrate tank operation from heap leach.
That is according to broker Optiva.
Asiamet said in March that it would soon begin a thorough review of the flowsheet for the new process at the deposit in Kalimantan.
Altering the processing method could enhance copper findings by 40% or more through substantially faster production rates of copper cathode, Optiva has said.
In addition, production could be maintained at 25,000t per year for the full eight years of the mine’s initial lifespan, extending the life of the mine before the conversion of resources from existing reserves.
Optiva heaped further praise on the Asiamet board which brought an end to the Indokal Limited SPA and secured further funds to consolidate the AIM-listed company’s balance sheet.
Optiva gave a buy recommendation with a price target of 8.9p per share.
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