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Asiamet Resources ( (GB:ARS) ) has provided an update.
Asiamet Resources Limited has announced the sale of its interest in the KSK Project to Norin Mining for $105 million. This transaction is a strategic move following a comprehensive review process, aiming to introduce a well-funded copper producer to advance the project into mining operations. The sale is expected to result in a fundamental change of business for Asiamet and is subject to shareholder and regulatory approvals. The proceeds from the sale will primarily be distributed to shareholders, with the remainder used for potential opportunities and working capital.
More about Asiamet Resources
Asiamet Resources Limited is a company operating in the mining industry, primarily focusing on copper projects. The company is involved in the development and processing of copper mines, with a significant project located in Central Kalimantan, Indonesia. This project, known as the KSK Project, includes the BKM Copper Project, which is designed to produce LME Grade A copper cathode.
Average Trading Volume: 3,331,549
Technical Sentiment Signal: Hold
Current Market Cap: £38.93M
See more insights into ARS stock on TipRanks’ Stock Analysis page.